Even to an untrained eye can tell that this support area on the 4H chart seems worth considering. There is high volatility news coming out in just over an hour from posting this trading idea, if in favour of NZD, we can expect a rally up to roughly 0.9 psychological level.
Gold is about to approach a major daily consolidation area, where it ranges between 1320 and 1360. It managed to spike in there and return back out in Sept 2017, but returned again 4 months later.
The first (left most) zone lasted 3 whole months and the second lasting 4 whole months.
If gold manages to close inside this area, we can see a ranging pattern from...
The pair's been rallying up a lot since all the commotion on brexit news, allowing it to reach my trend line and surpass a psychological level of 1.3 - expecting a return to this level and possibly a change of direction all together.
The pairs dropped significantly since GBP's rally recently, which might be coming to an end since both EURGBP and GBPUSD are around my weekly trend lines - expecting a reversal on EURGBP back up to 0.89
Going back to basics here and using session highlights
Green highlights are London sessions
Red highlights are NYC sessions
The overlap tends to have the most movement, each session tends to force it in a direction, the next session may counter it or carry the momentum.
Expecting gold to recover down to the trend line I had previously drawn and potentially...
Looking to continue the gold rally after Powell's speech yesterday afternoon. If gold does begin to short, we can find support around 1280, where the 50 EMA lies. We can hope to see a rise to 1300 psychological level where gold should begin to struggle.
USD Index has been following a weekly Elliot wave quite smoothly, it should face some upper resistance where...
The pairs dropped significantly since brexit was announced - currently the pair is sitting on a Fibonacci level at 0.236. We can expect some significant movement ahead of us back down (and maybe beyond to an all time low) or a steady retracement back to previous levels.
The pair has fallen 400 pips in 10 days reaching my monthly support line, expecting a reversal in direction coming soon for a potential long term move upwards. If the pair breaks the structure, a tight stop loss should be in place to recover any losses.
Daily downward trend being respected, pair is consolidating in a 4 hour trend, expected to reach lower support at 1.263 level. If daily trend is broken, tight stop loss is in place before the pair rally's up too high.
-DXY predictions to be in a bullish trend, causing NZDUSD to continue dropping towards the next zone at 0.66
-The pairs already broken the daily uptrend, expecting the market to rise for a retest to the above zone at 0.675
-Possible 150 pip swing trade if market travels from zone to zone
-On the daily (blue) expected to reach near to top resistance zone (D) at 98 and reverse down to the final E leg at 96 before continuing weekly (pink) pattern
-Potential sell at top resistance zone/D leg for a 200 pip downward movement towards lower fib support zone/E leg
-Possible bullish movement on USD base pairs until tested at top resistance zone