Looking over the 1HR time frame, we can expect a pullback into the 1.13000. This would also align with 200 days MA which could act as a support level. For now, I am waiting to review the eurozone CPI (YoY) and Fed's Monetary Policy Report and speeches on the 22/02/19 before we can further speculate major moves in prices.
If the dollar index (DXY) pullbacks at 96.60, and XAU/USD rejects $1320, it is possible to long EUR/USD from 1.12700 into TP-1 @ 1.13600 and if supported by strong fundamentals on the eurozone or deteriorating fundamentals of USD, TP-2 @1.4400. Pullbacks on DXY indicates a weaker dollar therefore strengthening the euro. On the technical side we also see a...
XAU/USD seems to be in a consolidation range between $1320 and $1280. Prices have rejected $1320.00 which formed lower lows therefore it may indicate a pull back towards $1297.00, in line with 200 days MA acting as a support before proceeding to form higher highs.
Looking at the dollar index (DXY), it is currently in line with previous January high of 96.60 range and then forming a higher low of 95.20 before spiking up at where it is standing today. If DXY rejects to exceed 96.80, I see a higher low forming again at 95.80 which indicate an uptrend before a 3 drives to the top occur we might witness a major sell off in USD...
The support and resistance lines are placed on the up trend as it broke through the fibonacci level resistance now it will be a support line.I assume the prices will increase till the resistance line at 1.2970 then it will be going into the downtrend till it reaches the previous resistance line which will now act as a support. Do place a stop loss and watch your trades
the uptrend broke through that channel and it also broke through the fibonacci retracement of prices within this week. EUR sky rocketed and now it has been a bearish time therefore it is now bouncing off the fibonacci support line.
Hey ! There is an uptrend therefore go long on the third dip touching the support line on the trend. Go long till the trend line resistance. Put trail stop and stop loss depending on your risk management
Fibonacci Retracement support and resistance line placed.Also a horizontal trend line stating previous support line from the other trading has been placed and the bears broke through which the trend will decline further till its fibonacci channel support line and then there's Potential long opportunity if trend does not break through or wait for a confirmation.