Last week, we saw AUDCAD's price playing in between the current supply and demand zone marked on my chart. We can see that there was an accumulation of orders that must ultimately be targeted. My bias is short when price reaches the supply zone.
Last week, we saw SPX make a small rally between the supply and demand zones posted in my analysis. This upcoming week, I'm expecting for price to rally to the upside after reaching the demand zone since in the past, we see banks have accumulated orders there. I will be waiting for rejection at the demand zone before entering.
Price closed below the 1900 level, so I am expecting for price to continue moving to the downside, specifically the 1800 level. Gold could potentially have some unexpected movements due to the upcoming U.S. presidential election, however pure price action is not showing anything that could indicate a buy. Price has also shown us a clear bearish flag pattern on a...
Price has respected a weekly zone and has broken below. I'm expecting for price to continue to the downside, even with the upcoming U.S. presidential election on November 3rd. U.K. has also gone back on lockdown which furthers their economic status moving to the downside which we can clearly see on the charts.
After looking at the 4 HR chart, we can see that price broke its previous bullish trend and consolidated momentarily before showing us some selling pressure. I believe that price will move to the downside before buying.
Price has respected a clear uptrend on the daily time frame. We can also see that price needs to make a significant move to clear the 100 Moving Average and show clear price action to determine the best move. Because we need more confluence, I will look for price to break above my fibonacci retracement zone in order to enter a buy.