With the price point now reaching a consolidation area following the recent general elections. I see the the strength of the pound greatly encouraged by the re-elected Boris Johnson.
There is the possibility for the GBPUSD to reach daily highs in the coming days. With an almost certain retest of the 1.32250 Price point (to form a right shoulder in a H&S...
GOLD has just retested a very low price point region and has just formed a head and shoulders pattern on the 1 hour timeframe.
Along with RSI and MACD confirmation this enough for me to BUY big lots in gold holding this position till at least the 1494 price point, however we could be expecting all time highs!!
Hold positions for as LONG as possible :)
The chart suggests that GOLD will regain upward momentum after hitting a well respected support zone (indicated in yellow) and possibly continue up to 1516.00 price points with the possibility to continue further into record highs.
However, due to golds volatility today the possibility of a breakout of this zone is looking more and more likely, which could be the...
Gold is shortly approaching a well respected trend line around the 1483.25 price mark. Signs of a potential long forming with breakouts to highs of 1505.00 price regions.
Potential 3.45 risk/reward ratio
The price of gold has reached a well respected support area. RSI and Fib retracement are in support of a large pullback to retest the daily resistance trend line around the 1511.00 price area.
Further support could see a breakout of this resistance and potentially reach monthly highs of 1535.00.
GBPAUD previously struggled to breakthrough the 1.86900 resistance line which led to a small break of the weekly support line.
There is a break and retest pattern emerging which could see the GBPAUD price dropping. Await for the 4hr candle to close below the support line before entering this trade
Again RSI AND MACD providing support for further GBPAUD price...
XAUUSD showing signs of a potential breakthrough.
It has previously failed to break the support trendline and shaping up for a potential breakout to the 1310 price regions!
RSI and MACD indicators providing support for a possible breakout
Medium volatility USD news to be published around 6pm which could further aid the strength of Gold.
EURAUD is slowly approaching 4HR strong trend line, we could see a reversal about this trend line. Wait for the perfect entry to maximise profits and minimise risk of a potential breakthrough. Take profit around the 1.58300 area
Strong resistance trend line marked on the chart. The GBPJPY is slowly approaching this resistance and we could see a potential reversal eventually retesting the bottom support around the 144.1 price point
The upward trend line retested earlier today caused the USDCHF to drop. We are now seeing it approach a resistance at the 1.00000 price mark. I predict a potential bounce off this resistance line and retest the upper trend line. I see this hitting the upward trend line before one again dropping breaking through the previous bottom support trend line and continuing...
We can see a consistent support trend line which has been previously hit twice. This has recently been retested.
An upward trend has begun to form and we should the price head back to the 142.500 price region.