Around the crash of 2008/09 we can see that we used to get $2.1 to the £1.
This has fallen to an all time low late 2016 ($1.2) and has since risen 10% to $1.35 to the £1 over last year and a half.
This has been a steady increase and looks like it will continue to grow.
We will need to monitor this as the effects from Brexit come to fruition.
The above is my non-professional, long term view of gold in logarithmic scale. Given that the metal still seems to be in a phase of indecision, I will have to wait and see how this consolidation resolves before deciding on the likely long-term direction of the gold price.
The JPY has been moving quite heft and strong over the past weeks with the Nikkei 225 also doing re-tests so we've got some action happening in the JPY - The USD has been manipulated heavily throughout 2017 with the USD Appreciating more than de-appreciating, but it's come to a level of exhaustion right now and we can confirm that because the market retraced at a...
AUDUSD pair raced upwards strongly yesterday to approach from 0.7700 barrier, targeting testing 0.7740 level mainly, noting that breaching this level will extend the bullish wave to reach 0.7830 as a next Target area
-Bullish trend supported by the EMA50
Expected trading range for today is between 0.7604 support and 0.7800
XBT experienced a long needed correction from a parabolic rise. The volatility of the market make predicting price movement in the short term difficult but XBT remains bullish in the long term. The fundamentals are too strong to do otherwise.
The market is not at a great entry point right now as we are at a strong zone of support/resistance.
Volume is poicking...
.On the weekly, chart there's a symmetrical triangle, and it's in a downtrend.
It has 6 touches, 3 on either side.
If it goes to plan, the pair should fall lower and break out,
as this is a continuation pattern and not a reversal.
Hey folks, here we have a Bearish cypher on a 4 hour chart that I'm just about to take, from my analysis I can expect a reversal is about to take place.
The valid measurements for a Cypher pattern are:
This is an excellent trading opportunity with a risk/ reward ratio of 1:2
I hope you's all have a great week ahead trading.
USDJPY – 19/03/2017
The value of trading trend channels is that the trader can trade short term, or look for a breaking of the trend line. Be wary of intraday breaks and fakeouts.
Point 3 the trendline was violated on an intraday basis but then closed in the direction of the original trend.
The RSI is also supporting this analysis of a bounce.
We have evening star on the daily, given the daily closes like that. Bearish engulfing has breached the ctl coupled with crossover And H&S formation on the 4hr
I do think gold will find support and then appreciate