Gold has been cut off increase when there were some hopes of tariff reduction between two sides of the trade war. Now there are symptoms indicate that negotiations will be stopped . The chart has 1521.64 as support area and 1548.051 as psychologically resistance region. I assume that we can see even 1661.420.
As the symbol is obvious there are two ends of corrective areas 153 and 126 .
Although there are 3 tp areas which the maximum rate of them is 1667 the pullback is indeed probable.
This pair usually shows consistency in price changes with crude oil prices pumps and downs.
The analysis shows its mysteries by itself.
As you see, i think the price may show small correction and then shows bullish attitude.
The possibility about Bitcoin is after small correction we can see the tow target areas.
In this time frame steps are shown. Congratulations for buyers.
As there is a decrease of Euro obvious in the chart, the volumes in an agreement of price has been increased. On the other hand the horizontal rectangle of frequent presence of price has been broken. So i guess new step of support area we will see. What do you think about it?
Due to analyzes of previous multi time frame analysis about the symbol which imply on corrective movements to the important support area of weekly time frame, the daily indicates possible pullback and also the h1 time frame shows new bullish attitude but eventually we can say that probable fluctuations of US10Y have two tp regions.
Down trend with negative hidden divergence is shown with breakout the channel. Therefore the assumption about establishing of new support region can be declared.
Correction is probobale and we are facing with the end of it.
In consistency with h4 analysis the correction is possible.
There are some important signs of correction scuch as new top formation and the price presence on steep slope of diagonal support line. The price existence in a pseudo symmetrical triangle is confirmed in also H1 and 30 min. I will be happy if you share your ideas in comments. Best regards
In this timeframe the tp is about 66 which indicates that the yen demand is going to be increased.