Gold is most likely going to break through the 1416.00 support level. The five previous candles indicate that a strong downtrend is forming, there are NO bullish candles and buying power is rejected, as seen by the pinbars. The downtrend will most likely continue to the 1404.00 level.
USDCHF broke through the 0.98400 resistance level and tested the new resistance, which is 0.98450. However, price couldn't get past the new resistance due to insufficient buying power. At the new resistance level, a green doji has formed, which is a strong indicator that price will likely fall down to the 0.98100 support level. Happy trading!
After a long uptrend, buyers are getting exhausted. They will likely push the trend just against the trendline one more time, but then the sellers will come in and drag the trend down, all the way through the 1.25000 support level, due to a fresh wave of buyers with a lot of momentum. Targets could be set at 1.24500. Happy trading!
Since the buyer wave of the 19th of July, gold appeared to be on an unstoppable bullish run; trendlines couldn't hold and strong resistance levels became support levels. Here is an indication of how gold may behave in the upcoming week. After the long bullish run, the buyers are exhausted, which indicates that gold could fall back to the 1404.00 support level...
As we can see, the previous pattern of USDCAD consisted of 3 retests on the trendline before the sellers could breakout. The price fell down to the 1.30300 support level, which didn't break. After the fall, USDCAD rose back up to around the 1.30900 resistance level. Now, we see the exact same pattern and this could be a nice trading opportunity as this could...
As I predicted a few days ago, gold has moved up immensly. Now, it appears to be very overbought, which means that, sooner or later, the buyers will get rejected and most probably a huge downtrend to the 1412 support level will occur. Happy trading!
The Aussie dollar will most likely continue to weaken, due to the low employment rate in Australia. On the chart we can also see that after multiple bounces on the trendlines, AUD now finally got enough sell momentum to continue down. Happy trading!
BTCUSD appears to be overbought; the daily-, weekly- and monthly timeframe prove it. Right now there is a very high probability of BTCUSD moving up like a rocket since the sellers get rejected. Happy trading!
EURGBP has been growing consistently now from the 2nd of July. Also, the doji candle indicates that something major is going to happen, there is a high probability that this will be that EURGBP will fall down big time, due to the buying power that keeps getting rejected at the top. Happy trading!
As you can see, USDCAD previously broke the trendline. It then got a small pullback and hit the 1.30300 support level. USDCAD doesn't have enough sell power at the moment, which means it is going to move back up to at least 1.30600.
As you can see, we can draw a perfect trend by angle. This indicates that THIS is the moment that gold will finally breakout. We could predict that earlier, however, it had another small retest. Happy trading guys!
After EURUSD retests to the 1.23800 resistance level, it will bounce back off due to insufficient buying momentum. This is a clear trading opportunity: simply enter the trade selling EURUSD when it has reached the resistance level, put your stop loss above the 1.23800 resistance level and take profit a bit above the 1.12500 support level to be safe.