Price was stuck in a range since Friday but we can finally see a break out to the upside. I'm looking to enter on a retest.
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Im expecting the US30 / DJ30 / Dow Jones to head higher today and maybe even this week.
I believe a strong reversal could be due based on what the charts are showing me right now.
Trump is due to speak today and that could create aggressive market movement but also the massive cash injections by the FED could help support the upside movement!
Sell Gold following the deesclation in USA v Iran geopolitical tensions (for now) and for the fact that "ww3" has stopped trending.
There are also technical factors to help with the confluence of signals:
Gold has been sold into the 61% fib of the 2011-2016 move lower and big figure of 1600.
Gold was up roughly 17% last year, in one of its best years in recent...
This week gold will retest its highest resistance level seen in around 7 years. I expect a lot of resistance here, which will drive the price down, before ultimately driving the price way up as the bulls take over. Time frame? I am not sure, but i do know that a brilliant short opportunity on gold is in sight. overall for the coming months, I am bullish on gold...
Trade talks have seemingly calmed down at the moment, 1480 is a big psychological number i believe would needed to be reached to begin following the bullish uptrend. That being said, if that trend line is broken we may see a bit SHORT to 1430.
The growing strength of the United States dollar has already fed up with a lot of things, Trump and American exporters to traders and analysts who have bet and continue to bet on its decline. Quite a long time ago, we have turned to dollars bears and also not enthusiastic about its unwillingness to decline. So it is time to find out the reasons for its...
A temporary truce in the trade war was announced. Well, of course, a “truce” is not the right word we prefer a “pause”. The appreciation of the renminbi, as well as the decline in the VIX Index, are further evidence of tensions easing in the financial markets.
Against this background, we again pay attention to the sale of gold. But we note that sales with the...
as we can see here on the EUR/USD chart that the market has been trending with no direction and has been in a sideways direction. as of now, the market is having an unconditional amount consolidation with high uncertainty of where the market is going. however, because the market is testing a resistance area and hasn't been able to break past the 0.618 and 0.5 fib...
Mr Trump has strongly disapproved of Bitcoin. The markets couldn't care less. People are holding on to their Bitcoin in a zone of consolidation on the daily time frame.
The consolidation pattern is safe down to around 9500. Bitcoin reached 10 times the recent high price of gold at one stage.
I look at possibilities positive and negative for the future.
Downtrend will continue in coming days at least till first week of July. Trump needs oil lower as an excuse for FED to cut interests. G20 is happening 28 of June and this gives him a perfect opportunity to increase tension and I expect market to take a week to digest bad news - we might see strong support of 43 in beginning of July.