rashaba01

rashaba01

Gold has been almost unpredictable in the last couple of weeks, creating a series of ATHs. Looking at the weekly channel we can see it touching the upper line of the ascending parallel channel at 2260-2265. We could see a reversal but its important to be patient and look for signal on the lower time frames.

rashaba01

Spot Gold printed an all-time high of 2225.44, subsequently touching the upper trendline of the rising channel and thus printing a higher high. Bears will be looking for opportunities to sell with stop loses at or just above the 2230 psychological number. 2225.44 also looks to be wave 5 of the elliot wave analysis.

rashaba01

Possible GBPUSD sell idea with price getting multiple rejections at 61.8% fib retracement from July 2013 highs of 1.31500 and October 2013 lows of 1.2000. If the pair gets successfully rejected, we could see it drop to 1.1700 by the first half of 2024.

rashaba01

Gold is currently trading in a downward channel and got rejected at 2036 thus creating a lower high. The pair then broke outside of a corrective pattern and now bulls getting rejected again at 50% fibo of 2036 high and 2009 low. Further decline could see it dop to fibo ext -0.27 at last week's low of 2001, make a little correction before dropping to 1980 and...

rashaba01

Possible upside continuation of USDZAR in the first quarter of 2024. The pair has performed badly in recent times and with the Dollar looking to build up bullish momentum, this could mean more weakness of the South African Rand.

rashaba01

Possible upside continuation of DXY. Momentum is bullish on Dollar index at the moment and it's trading in an upward channel.

rashaba01

Very sketchy but it looks like Gold is now in a narrow descending trendline. It could be heading to 1870 support before making any further upside move but will have to wait for a clear signal before taking any safer positions.

rashaba01

Price has reached a strong resistance area as well as printing a lower high on the descending trendline.

rashaba01

falling 4hr channel looks to have reached 5th wave and reversal is highly possible as the price is also printing a lower low for the 3rd time.