Gold is in consolidation , and the bias is to the upside ( 30 MAV> 50 MAV) . Consider a long trade from BB 2 SD low to high.
1. Enter - around $ 1890 ( lower BB 2SD)
2. Stop - around $ 1855 ( outside BB 3SD)
3. Target - around $ 2020 ( upper BB 2SD)
4. RR = 3
GBPNZD has retraced in the month of August , nearly 50% of the prior swing to the upside.
A good place to consider a reversal is around the 50 MAV , that is closer to the .618 retracement ,
the 3SD Bollinger and the monthly S1 pivot.
1. Enter - around 1.9550
2. Stop - around 1.9270 ( .786 and monthly S2 pivot)
3. Target - prior high 2.0280
4. RR = 3
AUDJPY has successfully broken out of an Ascending Triangle ( 57 daily bars) . Looking for price to retest
the 76.60 level as support.
As all MAV are to the upside, the bias is long.
A long trade is suggested
1. Enter - around 76.60
2. Stop - below 75.40 ( 50 MAV)
3. Target - around 80.60 (equal extension of triangle base)
4. RR = 3+
On the hrly chart gold is in a consolidation ( 1915 - 1955 ) . Presently momentum is to the OS side. Looking for price to stay within the channel.
1. Enter - around 1945
2. Stop - 1960
3. Limit - 1920
RR = 2 + .......
The Euro has seen price supported at 1.07/.08 in early 2020 and subsequent rally towards 1.20 .
Price has consolidated over the last few weeks and is supported by the 20 MAV.
Technically this recent consolidation has seen a divergence of price and momentum and a decline in volume.
And price may want to retest near term support.
What is the big money doing...
British pound has moved from a consolidation channel in early 2020 , through rapid correction in March 2020 ( mediated by Covid Crisis) ,
into an uptrending consolidation channel.
Price has oscillated within this channel, being constricted by the 200 MAV , which was successfully broken in late July 2020.
Price has now retraced to a zone of significant...
Since early June 2020 the AUDJPY has been in a consolidation ( ascending triangle) , beneath the Montly R1 Pivot.
The last trading day provides a confirmed breakout to the downside. This is mirrored with falling Stochastics and rising short volume.
Suggested short is on chart , with RR of 3.....
Gold in correction may have completed 2 legs of an ABC movement.
A suggested short is as follows
1. Enter - around $ 1860
2. Stop - around $ 1880 ( above bearish recent candle, very aggressive) , above B point ( very conservative risk)
3. Target - around $ 1820 ( prior support and equal extension ABC)
RR = 3.5 +
Gold had moved from $ 2076 ( all time high) to $ 2014, before a minor rise and then an impulsive correction to $ 1863.
Price has moved back towards $ 2014. It is difficult to buy gold here as this is now an interesting area for resistance ( wave 4 shouldn't close within the wave 1 zone) , and any failure here
may see price correct to $ 1950 or lower. ...
So Gold has made a corrective movement from the R1 Monthly Pivot to the P Monthly Pivot , with the
Fair Value price tested between the Monthly Pivot and the 200 MAV.
Between Support and Resistance , there is a seemless /fluid price movement , between $1823 - $ 1950 , offering little resistance to further deterioration of the Gold price.
After moving into uncharted space with a high 2076 ( up the stairs) , price has plummeted ( down the elevator) yesterday.
After such a rapid move, it is likely price will consolidate around the Monthly Pivot of 1905 , and may even
test the 200MAV at 1873 for the most part of this week.
Support is around $ 1816 .
The bias is still to buy gold , and this is seen...
The EURO has moved from 1.11 + to 1.19 + , and last week entered into consolidation between 1.17 and 1.19.
It would seem appropriate after such a big move ( even going back to 1.07) , that price will consolidate.
For the coming week, price may continue to fluctuate between the stated levels.
Opportunities are only considered for a long ( all MAV;s from 4-200...
Kiwi Yen has potential for 2 Bullish patterns on chart
1. Ascending triangle - which is presently having support tested at 69.80 .
2. Flag pattern - and maybe a revisit of the supporting lows at 68.20
This is a long, with a consideration of retracement.
1. Enter - around 68.20 ( near the 200 MAV)
2. Target - 75.00 ( Monthly R4 , inside an equal...
Gold has been on a strong move to the upside , fanned by the global geopolitical risks. Price is in new territory , and the
bias remains technically to the long side ( all MAV's aligned up) .
Considering entering a long
1. Enter - around $1930 ( confluence of 20 MAV and .50 fib retracement)
2. Target - around $ 2130 ( Monthly R2 pivot and 1.27 fib extension)...
The prior week has seen Pound caught in consolidation beneath resistance of 1.32 ( even with strong momentum) .
The bias is with the trend , and to enter a long position. ( 20 MAV > 50 MAV)
Looking for a retracement to enter long.
1. Enter - around 1.2870 ( confluence of 20 MAV and the Monthly S2 , with .382 retracement )
2. Target - 1.3450 ( confluence...