Gold showing signs of a more dominant progress north, to really understand where I am going with this, you need to view my previous charts linked below. I at first seen a possible break north in the early new year, this started as planned, alas the new variant came and further decline progressed, I outlined this possible drop in my previous charts, but did not...
I know we posted a long. On here. Free channel milked the long then took a short. Closed for Friday NFP.
Looking now we have potentially a short position coming up.
Trump got covid, but shared he is doing well, so reduces the chance of uncertainty which then some fundamentals point towards gold going down just like the charts.
Remember just because we post...
Possible quick profits on a short position, but the trend is generally upwards. The gap could get filled quickly followed by a return to the upside due to increased sales of surgical masks in the COVID-19 pandemic.
If the Johnson & Johnson COVID-19 vaccine does well in final phase testing, this could cause the share price to break out from the current bull flag formation, if not we will see a break to the downside.
Yes, after disappearing for weeks the COVID-19 DEATHS_GB is back. And now we can see, probably not for long, that there were 3587 deaths in the week beginning 6th July 2020, a supposedly 8.69% increase. As I've watched COVID-19 charts change before my eyes I wouldn't be surprised if this disappears without warning or record too.
Unfortunately, the same thing possibly happening in the USA (COVID-19 DEATHS US) has already happened in India: there was a flattening of the curve but as of week beginning 15th June 2020 the percentage change of deaths is 36.74% matching what it was in week beginning 11th May 2020, 36.75%, and so dispelling any notion of a flattened curve.
Week beginning June 15th, all that' s left is an unfortunate 1500 US Deaths from COVID19 before the 'flattened curve' potentially becomes a plateau. COVID-19 DEATHS_UK showed a similar but earlier pattern but it would be an anomaly in reporting, perhaps, if the chart wasn't pulled from TradingView.
Here on the NZDUSD, we have a market that has just come into a level of resistance that I will be paying attention to for short trades. This is an area that has been tested multiple times as support and could possibly be a level that this market pushes down from. This would qualify as a valid Optimal Trading Zone where I'll be lookng to short.
Here is my analysis and view on the coming week. I've used the 1 day & 4 hour charts. As the death tolls across Europe are slowly declining, the European stocks and economy is regaining strength which inevitably means the Euro (EUR) will rise.
Using the 4 hour & 1 Hour charts. I can see towards the tail end of last week the market started consolidating. However, we saw throughout the week a strong bullish trend, as hope around COVID-19 restrictions easing and economic hope, I believe we will see some strength in the Sterling. Using technical indicators, the Stochastic is showing the market is overbought...