GC1!
I bet many people are posting this same idea. We are looking at some resistance on the trendline with a chance to go higher again. These are some historically good levels.
Platinum has been pretty wild for the past few days. True, it is still lower than heck on the daily, but notice how the hourly has started an uptrend. This could be a chance in on the ground floor before a large move upward if the support line holds. Price action is yet to confirm.
We are at a historical high and low. There should be strong resistance here, as we've seen over the past few days. A small pullback is in order before we can go higher. Target 110 as it is the 9 day EMA bounce point.
Platinum "broke" its down trend recently, but it had a dramatic 2 day pullback to the base of the breakout. It is unclear whether the recent upswing was just a mildly longer pullback (see figure for pullback amounts) which will result in another drop in price or whether this is profit taking from the recent upswing.
A break below 930 indicates a continuation of...
The weekly chart shows that EURAUD has been in a trending down channel for a year. While there have been many dips below the lower boundary, two weekly closes were below it recently. This past week returned to touch the boundary. This is an excellent short opportunity to capture a full move down without chasing the breakout. My first price target is 300 pips based...
