ROYALRYFX

ROYALRYFX

USOIL hit key support. Expecting bulls to continue on Monday as well. Both UKOIL and USOIL we have similar setup. RFX members took long trades last Thursday.

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Price broke the top resistance of an ascending triangle, expecting price to move up

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Overall we are long on XAUUSD however we are expecting rejection off 1845 area. We have a nice cypher pattern on H1

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GBPCHF shorting since yesterday. Expecting price to hit support. Shorting GBP pairs as London level changed to 3

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GBPUSD formed not so perfect Head and shoulder pattern on H1. Expecting price to retest previous daily resistance which is the new support at 1.32700

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GBPAUD double top on H1. Expecting price to hit falling wedge support.

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DXY as of now looks bullish for us. Established an ascending channel , supported by 61.8% fib level. We have to break the 93.85 resistance in order for the continuation of the price to our next key resistance 95.05 If price close below 93.85 we can expect a leg down.

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We have been bullish on this pair since march dip. My guess is that markets as a whole will continue to the next key resistance 0.62115 with key support at 0.5940 If NZDCHF bulls can clear 0.62115 on a daily closing basis, it could open the door to higher prices, such as 0.6300

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DXY as of now looks bullish for us. Established an ascending channel, supported by 61.8% fib level. Nevertheless we have to break the 93.85 resistance in order for the continuation of the price to our next key resistance 95.05 Moreover on 1H time frame DXY got retraced off the lower boundary of the ascending channel.

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US30 has resisted through the resistance line of a Rising Wedge. If price breakout and retests will indicates a potential move to 26800. We have seen it retrace from this positions in the past, one should wait for confirmation of the breakout before trading.

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XAUUSD is respecting a technical pattern I’ve pointed out a few times recently. As I mentioned before, 1910 is a confluence of resistance. It’s also the top of what could be a falling wedge. But to be clear, even if XAUUSD takes out the 1850 support area, the uptrend since 2016 is intact. That’s why I’ve been in favor of buying dips as long term. If the 1850...

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The EURUSD is testing a key resistance area at 1.1800. I mentioned this area few days ago As you can see, the 1.1800 area involves a trend line from the recent consolidation lows. It’s the area buyers need to break to reestablish the bullish momentum. It’s unclear whether we’ll see buyers break 1.1800 on a daily closing basis or get another rotation...

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The GBPUSD is trying to take out a key resistance level today. I’ve mentioned the 1.2980 in weeks technical. Notice how it served as resistance last month. However, today I want to discuss something more significant. There’s a structure that’s been developing on the GBPUSD monthly time frame since the early 2000s The multi-decade falling wedge above hints at a...

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XAUUSD in this case, is trying to negate a recent breakdown. 1900 was gold’s previous all-time high. You can also see where XAUUSD caught a bid around 1900 in August and September. However, the September 23rd close put the pair below that key level. But as I’ve cautioned over the last few weeks, any weakness from gold is likely to be short-lived. The uptrend...

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The GBPUSD looks less favorable than EURUSD, in my opinion. It has the same short term uptrend, but the price action isn’t as telling as its euro counterpart. GBPUSD buyers need to secure a daily close above 1.2980 to send the price higher. Notice how 1.2980 has served as resistance for several weeks. Support for the week ahead comes in around 1.2670.

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NZDUSD closed back above 0.6600. However, this rally isn’t all that convincing. There’s still a chance NZDUSD stalls out near 0.6700, which could produce a topping pattern in the form of a head and shoulders. I like NZDUSD higher over the long term, but I do expect further weakness before the next leg higher can materialize. 0.6600 is support for the week ahead,...

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The EURUSD continued its sideways movement last week. Buyers need to secure a daily close above 1.1800 to send the pair higher. So far, they haven’t been able to do that. One area I’m keeping a close eye on is between 1.1450 and 1.1500. That’s the top of the multi-year trend line.

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XAUUSD sold off recently, along with most other assets. The pair even closed back below 1900, which was the previous all-time high. However, I still think this is a bear trap. The uptrend that started in 2016 is intact, which means pullbacks are buying opportunities for those with a multi-year time horizon. However, this pullback may not be over just yet. A view...