This is my analysis for this trade, I post up all analysis on tradingview to keep track of my work.
On this pair i have a falling flag at the end of its run.
Break out forming the inverted head & shoulders.
now price has broken the neckline of the H&S looking for the retest to the go long.
i feel that price will consolidate for a period, then resume to...
Daily Support created the illusion for people to go long, the stop losses just below.
Remember if you buy, your stop loss is a sell. You SELL your BUY position at a worse price!
China and Australia's economies are very tied together, due to the corona outbreak the AUD is tanking.
This added with the fuel from all the stop losses below the daily resistance zone...
As Gold continues to show its bullish run and possibly a continuation of its trend. high target may be achieved as long as price holds above 1263.00, Targets of 1300 , 1340.
For the month, it has come back down to Equilibrium to run any long stops, and is now finding its way to retest the high of 1360 before distributing down to the Monthly OB, which is 70%...
Cup And Handle Being formed on the Day Chart and 4H time frame, price is now consolidating and looking for price to head for the highs, looking for price to stay above 80.500 as it it currently being respected for price to move to OB at 91.900
gold prices has fell to a two week low today as the dollar strengthens as yellen stated the importance of increasing rates and possible hike in march ,currently trading with an intra-day high at 1228 and a low at 1216, still looking for price to push up to 1254 before heading back down to 1200s then 1180
This pair no seems to have broken a key area 0.72200 and price has held firmly above it , closing the day with a big bullish candle. My bias for now midterm is bullish , as I believe we may see price hit at least 0.73700. However as we have NFP out on the 06/01/17 we may see a possible re-test of 0.72200 which is just slightly under 90 pips or so from where we are...