The king of manipulation is back pushing to the upside trying to fight its bearish sentiment. This won't last long in my view, I believe this is simply a lure for buyers before we see downside continuation into the target marked.
OANDA:XAUUSD is currently holding above its fibonacci level as shown and looks to continue pushing upside towards 0.5 Fibo retrace zone, where the bears and bulls will go head to head once again to decipher the main trend. I am lazy with my descriptions, apologies! :p
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FX:EURUSD has found support within it's current trend zone and looks like it may resume its bullish trend.
TVC:DXY has had upside so far this morning,
which I think will be short lived / no more than a standard price action pullback ready to resume it's downward spiral.
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DXY is creating a supportive level but knowing how manipulative the dollar is, this could simply be a tease to trap buyers. Personally, I think the price will begin to push to the upside to lure more buyers in before reversing at the 62% fibonacci and dumping to the downside. My first bearish target will be the extension marked, my second target will be the key...
DXY has been making a series of LH's & LL's, Price is currently testing previous support which is now resistance, 1HR candle has now printed a shooting star which is a reversal pattern.
3 confluences to suggest price will go lower.
We have to continue to respect that the dollar is moving in a descending channel and that the overall trend is bearish. It would be lovely to see the DXY smash through that key level and the 50 EMA to create a much needed new trend for the dollar. However, if we don’t see this and it wants to continue to respect the channel we can expect continued weakness in to...
As you can see from my previous charts analysis was correct, price couldnt break resistance so we were looking for sells on the lower TFs now price is testing resistance and should break through so we look for buys
With this happening the USD is gonna dump all over the place so look out...
Price is currently being rejected at resistance so we can look for sells on the lower time frames, but once broken we can buy to the next level of resistance marked on the chart
Be aware that this is on an uptrend but you can scalp a profit off the 1h or 30m
The key is the fractal in the blue rectangle. The analysis shows that the fractal sequence in the yellow square has the same size. This includes the magnitude of the main trend and the magnitude of the correction amplitude. The first major difference is the blue rectangle. This is more important. In this rectangle, fractal modification occurs. Thus, the size of...
