1551 area formed support after big sell off, been a crazy couple days. where to now? leave your thoughts. my opinion is if price stays above blue line, price may push up. If price breaks below that line we may be entering a big sell off period for gold. Any more surprise attacks and we may see gold spike again.
This week gold will retest its highest resistance level seen in around 7 years. I expect a lot of resistance here, which will drive the price down, before ultimately driving the price way up as the bulls take over. Time frame? I am not sure, but i do know that a brilliant short opportunity on gold is in sight. overall for the coming months, I am bullish on gold...
currently at a resistance level where price has closed below the resistance. peep the 4HR chart aswell and you will see a double top formation. I believe that EURUSD is headed down however, I will wait for further confirmation before entering, remember ; trade what you see, not what you think.
my take on gold is that if we close below the first white resistance line i have marked, then we may possibly see heavy sell pressure going in to 2020. That is my take however it can really go either way, so trade with caution.
Currently in a grey area where price has reversed strongly previously in 2019. I personally will not be opening any positions until we see a clean break to the downside. If this condition is met, then I would except a strong downtrend to form. Let know what you guys think!!
This is a really hard one to call! USD gained alot of strength after fridays NFP numbers, however is still bearish on the daily timeframe.
USDJPY will either break the channel and make a move down to the level i have marked, OR will bounce off the trendline and rally up.
Ill be waiting and will react accordingly.
let me know your thoughts on this one.
My view of what will happen on EURUSD today. the pair is clearly in a descending wedge at the moment where price is currently sitting at the top of the wedge. this is the ideal time to enter for max profits.