Hey traders! In this chart, I have a level marked out where price is very responsive to in terms of resisting or the level acting as a support. As we see, price has approached this level again, and so I was looking for opportunities for either a sell or a buy; considering where price went. On the 15-minute time frame, I can see a bear flag has been formed and a...
The price reversed at the resistance 1.217. The fall has begun.
I expect the fall to continue as this resistance line has existed since February 2020. Also last week the price was already starting to fall.
But then it consolidated towards the line (good fixation before the fall). Also, this fall will be a continuation of the undulating movement that I...
US DOLLAR, EUR/USD TALKING POINTS:
The US Dollar is continuing to fall after last week’s NFP release helped to re-energize bears.
The USD move has helped to catapult EUR/USD to fresh two-month-highs as the pair tests a big zone of resistance.
This week’s economic calendar has high-impact releases from the US on Wednesday for inflation and Friday for retails sales...
XAUUSD 10 05 2021
The price has broken through the strength of the support zone 1800.29. In this zone, three strong lines intersect at once: June 2019, June 2016 and December 2015. A breakdown of such a strong zone is a good sign for growth. And I am updating my forecast. Now I expect that the price will first roll back and consolidate in the zone at 1802. 40 ,...
EURUSD 10 05 2021
At the end of last week, the price came to the resistance zone 1.217. In this zone, the strong resistance line of February 2020 and the resistance line of July 2020 intersect. The price has touched this resistance zone twice and now I am expecting the start of the fall. My goal is thus 1.188 support line.
GBPUSD 10 05 2021
At the beginning of this week, the price broke through the October 2019 support line at 1.399 and continued to grow out of trend. She has already made a small rollback - a correction to growth, but I expect that this rollback will not be the only one. I expect that the price will continue to rise and, taking into account the corrections, will...
First, in April, the price broke through the resistance level of 0.918, and then the resistance line of January 2021 - 0.910. After the second breakout, the price fell to the support line of December 2020 and now bounced off it. From this line, I expect the price to rise to the resistance line of 0.912. This will be our goal.
After the start of movement on Monday, the price continues to fall from the resistance of 1.213.
I expect the fall to continue.
1 - resistance line of February 2020
2 - recent breakdown of the 1.198 support line.
3 - rebound from resistance 1.213 and working out correction (an essential element of almost any movement).
The target is 1.186.
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