Continuing on from last weeks analysis, the levels still hold.
Scenario A: We've seen a couple of hammer candlestick formations form on our temporary support level last week and the price reacted trading higher. The price is currently trading below the mean, which is positive as price wants to drift back towards it. We could see the market move to the 2800 level...
The EURUSD has been trading between a range of 1.1250 and 1.1470, with only a couple of breakout attempts.
Scenario A: On the 4 Hr chart we can see momentum looks to return downwards as the 0.382 level has held and the price is now trading below it. In addition, we see that price has traded below its parabolic level and the 20/50 HMA has crossed to the downside....
Gold has been on a strong run this year.
Right now, there was a shooting star candlestick at 2019's high. This indicates a shift in momentum that could pull the price lower. We see that it is currently trading above its trends mean level, which again signals a change in direction.
Scenario A: A move lower. We expect the market to potentially continue to fall...
Oil is currently trading between the 0.382 and 0.618 fib levels which indicates a chance of a reversal back lower.
Scenario A: Oil continues with it's run, as the 20 Day HMA has crossed above the 50 Day HMA which shows bullish momentum. With this momentum, we could see the market rise towards the $63.83 level. Price is also trading above it's mean in the...
