seems gold is leveling off and looking for a new support. we are starting to test 1180 and will start to breach 1185 next. with the current momentum and upcoming releases it is possible to see the market drop back down to 1166. FX_IDC:XAUUSD
After the yen takes a short 0.95% hit we see the market bouncing around its old support nearing 117.0-117.1 - we should see a reversal and a new support formation around 117.75 depending on how the data releases are today with the yen
After a short $10 rise after the holidays. We start to see a support taper off and the price reflecting back to the 1145-1155 range. If we don't see a test around 1171 we should see OANDA:XAUUSD fall near 1145.
looking for a new support around 1161-1165. while we are dancing around resistance around 1150 we should see it break through to 1160 or back down towards 1145 while sitting sideways for the rest of the day.
Always look for your own entries, this is only my own personal play. Not advice.
Entry Order: SELL stop @ 0.7718
Stop loss: 0.7755
Take profit: 0.7609
analysis: eurgbp appears to be forming a H/S bear price pattern. Breakthrough below Friday's key reversal bar could lead to a follow through on the downside
Lots of movement in USDCAD, up 1% coming to an end on an upward triangle. Depending what the US Consumer Credit Change is we might see a decrease into the 1.34 zone. Currently sitting at 1.351 zone with lots of room to descend
Looking at the 4hr chart and noticing a few key resistance/support levels dating back a few months ago we can see the market trending nicely with our low call support trends and a resistance trend line. looking for a long opportunity for sure