The chart you see is marked based on the Wyckoffian alternative reaccumulation schematics. A reaccumulation is a state during an uptrend featuring a consolidation of the market so as to absorb supply enough to push the price to another higher high. It usually takes Weeks to Months and to Years, depending on how much target expected after it ends. The chart shows...
Gold's formed a Cup and Handle pattern on the Daily chart. From this pattern formation technically, one can expect a bullish break out from the trend line and higher. Fundamentally, this prediction is backed up by inflation reports which hedging against it is the primary reason why Gold is a safe haven commodity. On the flip side, Gold's price could drop as the...
The reasons behind the potential Sell-Off are;
* As the technicals indicate, Price action just formed a Quasimodo pattern. We expect a reversal to the lower Bullish Orderblock and a bounce back. The reversal first.
* Fundamentals surrounding the pair. Wherein New Zealand just started another series of Lockdowns due to the Virus. The Fed is to commence tapering...
TVC:DXY The Fed Chair, Jerome Powell has made all possible efforts to make the QE tapering a calm one and not cause knee-jerking reactions in the various markets as witnessed following Bernanke's congressional testimony, yet, the effects will still suffice even if milder. Currency pairs of interest in the Forex market are most likely commodity currencies paired to...