MrMunni

MrMunni Updated 

Gold is bullish, from mostly the FED’s dovish stance and inflation reports from the week before last. We opened up this week around 2001 and had some large volume for Asian sessions pushing the price to 2018 before buyers took some profit. When writing this, the price is challenging the 2010 key level. We have a lot of news this week, and keep in mind we are...

MrMunni Updated 

No new war tensions.Current status quo priced in. Inflation data driving dollar bears from last week. We may see some dollar bulls come in briefly to restest some levels for better buy opportunities. There are no new news events this week that will hold a strong economic impact. I expect this week to be slow with the American holiday Thanksgiving this...

MrMunni Updated 

Technicals: Trade Idea 1: Price retraces to 1945 before bears take over. I expect the price to go to the 1910-1912 area. Trade Idea 2: If we get to the 1910-1912 area, I expect a little consolidation before dropping to 1866.21. It is a bit of a distance away, so we may not see it hit by the weekend. Trade Idea 3: Price retraces to 1945, and bulls take over to...

MrMunni Updated 

In the higher timeframe, we are still in a bullish structure so we will look for buys for intra-day swing setups as the price never closed in the 1962 - 1953 range or below. It may give us some valid sells, but I would feel a lot more comfortable rejecting the 2010 key level before thinking anything intraday at that point. I am nowhere near comfortable in the...

MrMunni Updated 

Fundamental Analysis: Bullish -Israel started the ground invasion of the war. Reports on the ground are stating fighting with militants is fierce and Israel is making slow progress. -The Arab world and by extension the Muslim world is pissed. Qatar, Kuwait, and Turkey are at the forefront of the diplomatic assault. Israel removed ambassadors from Turkey. -UN...

MrMunni

Downward pressure has been mostly neutralized and we have been in consolidation since the the last major structure break, 4 or 5 months ago. Unless we break 1900s, I don't see bears taking over. Late August we see a structure break from the consolidation but it is still too early to consider that a dependable break. We have a monthly key level at 1900ish with...

MrMunni

triple bottom rejection now we watch as GBPJPY climbs to retest some levels. Depending where price action retraces to, would be an entry point for a week swing trade idea. Don't enter until reversal confirmation printed. Fundamental news will be a big factor to pay attention too. Positive news will push to the upside while negative news will push to the...

MrMunni

The dollar is weak. Technicals show price action is hanging around 62.8 so let's see if it will get back down to zero before pushing to the downside

 Sell Limit @ 108.350

 SL@ 109.850 (150 pips)

 TP1@ 102.350 (600 pips)

 TP2@ 99.750 (860 pips)