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Monthly Structure for XAUAUD appears to be OLHC (open low high close) which means we are going in for long term monthly buys once price find's a strong support and daily candle closes with TDi Priceline crossing above bloodline in the Daily time-frame.
Trade with Caution. Wait for valid...
This pair always follows XAUUSD no matter so if XAUUSD goes down then this one goes down as well.
But on here it has two possible entries where price could go, we just have to wait and see what the final outcome is but I’m pretty sure it’s going to head down either way📉
price currently on neckline, breaking out of this area i doubt will be straight forward , 1 of two things , price will retrace back to resistance showed on chart and break downwards (where the first sell might take place) , if price breaks neckline immediately, initiate sell , smart stops should be placed , a bit above neckline so you don't get stopped out...
- GBP: Looks consolidated in current area. Risk either side
- EUR: Managed to pull away from the low during yesterday trading. Keep a close eye on the current area
- JPY: Risk appetite looks to be rather weak at the moment still
- GOLD: USD weakness after the data yesterday caused a bullish spike on GOLD. Interesting to see if GOLD stays in this downtrend.
Pair has manages to set new highs,gone beyond zones i previously had making them resistance , however is the run exhausted and reversal occurring at this point or just retracement before rally continuation
open for speculation
PRICE HAS WENT UP AND CREATED A RESISTANCE NEXT WEEK PREDICTION IS THAT IT TRACES BACK TO 38% OF ITS BULLISH TREND.
THIS WEEK GOLD HAS BEEN FAIRLY STABLE AND AS THE WEEK ENDS, THE PRICE HAS REACHED ITS MATURITY LEVEL(75%) AND HAS TESTED ON THE YELLOW DOTTED LINE AND WENT DOWN PREDICTING IT WILL GO DOWN AND RETRACE TO 38%/50%