Yesterday the price started to fall, as we expected.
But I made a small correction.
Today I look forward to continuing the fall.
In April, the price rose from the 1.168 support (the main turn line in March 2020) to the resistance of 1.215
The price reversed and started...
First analysis of the week we cover AUD/USD!
Price has been range bound (100 pip range). Will we see a USD resurgence, breakout to the downside of this range and a bearish impulsive move?
This 0.77 level is key and price is approaching out support zone highlighted in this analysis. A potential price forecast has been identified by the red path!
Currently moving up in this ascending triangle - Big day as we've successfully broken through $500 and are now retesting it for support (I've already opened a long position here).
Daily chart looks set to blow up providing we can hold the 500 level. Next fib extension on the daily is 1.272 and sits at bang on $600 so will be placing a sell order just below....
For several weeks now, gold has not made us happy with strong movements, and all this time it has been moving in FALL. I continue to stand my ground and expect a bearish move. After all, the price, no matter how hard it tried, was unable to break through the strong resistance level. At the beginning of the week, the price was able to break through the strong...
Following previous trades, USDCAD is reaching the falling support once again.
On paper, prices should hit the support and rise back up to the resistance line.
However, one should be cautious trading this pair as the pattern has been followed for so long.
This means that it is only a matter of time before market structure breaks.
Nevertheless, I will continue...
Gold started to slide from resistance as we expected.
Now I expect the fall to continue.
The reasons for the fall are as follows:
1 - strong resistance line for August 2020 (the only breakout - false - was in January of this year).
2 - additional resistance April 2020
As I said yesterday, the price began to fall.
Reasons for the fall:
1 - strong growth from trend support 1.170 throughout the month (correction is needed)
2 - the breakdown of the January 2021 support line at point 1.191 weakened the price.
3 - the strong resistance line...
The price resumed its decline, as we expected.
The second time, having bounced off the support line of June 2019 at point 1688.04, the price increased, broke through the support line 1726.79 and tried to break through the resistance line 1765.15. This is the trending inya of...
The price began to pay as I said yesterday.
In mid-April, the price broke through the line of support of the ascending channel at point 1.200, after which it fixed on it and continued to grow. The price rallied to the January 2021 resistance at 1.210. Broke the line, but...
Yesterdays candle closed as a very promoting SS (shooting star), this was seen after a convincing move higher towards a slight daily level. This SS gives me confidence that price will reverse and go down to the untested level on the daily (5th April). We can see that if price comes back to the level now without a move lower we will have 61.8Fib confluence (very...
Some saw a few weeks ago the first pump on the US Dollar. Seasoned traders know that generally first pumps north off a structure area or approximate double bottom usually fall back.
Now - the US Dollar is nothing to fool around with. It is wild and very unpredictable. This is a hefty macro-economic index - a basket of 6 currencies. It's the USD vs 6 currencies....
The price came to the border of the falling channel 1802.38.
This channel was formed in July after a sharp rise in prices amid a fall.
The only breakdown of the channel occurred at the beginning of this year (riots in the capitol against the background of the elections).
Otherwise, touching the resistance led to a fall in prices.
At the beginning of the month, the...