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.
XAUUSD hitting a well tested resistance price around the 1308.27 price point. This line has been tested many times this past few days and can be seen on the 4HR time.
We should potentially see a reversal around the 1308-1309 area and expect it to return to the 1313-1314 price.
Easy trade! VERY FAST MONEY :)