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EURUSD → The bulls are coming back. Trend change. Target 1.1FX:EURUSD is breaking the downtrend pattern on a smooth change of fundamental background. Traders are selling off the dollar, which is favorable for the euro. A local bullish pattern is forming on D1 on the background of the global downtrend. Strong fundamental background is favorable for the strengthening of the currency pair. On H4, the price is correcting after updating the local maximum and consolidates above the level formed by the gap. Bulls are trying to keep the defense above this area. The key focus is on the breakout of the 1.0816 zone. This will open the way to the zones of interest: liquidity and imbalance. Today is a day off in the US, the fundamentals are still in place, trading may be calm. Resistance levels: 1.0816, 1.0852, 1.0916 Support levels: 1.078, 1.073 I expect the trend to continue, as traders are showing interest in the market. Local ATH may become a potential target for MM Regards R. Linda!
Long
by RLinda
5
NZDUSD → Traders believe in the best outcome. NFP aheadFX:NZDUSD strengthens after a false breakdown. The change of the fundamental background leads to a change in the character of the market. Traders are looking at a breakout of 0.614 and growth in the future, but ahead of NFP... On D1 the price is not going to leave the sideways range yet, as we are told by the false breakdown and return to the channel with the subsequent formation of the impulse. Technically, on H4 a pre-breakdown consolidation is forming and the price is gradually pushing up to resistance, which may lead to a breakout and further growth. Fundamentally, based on previous data, traders expect Friday's employment report to show only 189K new jobs compared to 270,000 in the previous month, and unemployment to remain flat. But it's worth paying attention to the actual data. As a mild reminder of slowing economic growth could weigh heavily on the Fed. Resistance levels: 0.614 Support levels: 0.61, 0.608 Technically traders believe in the continuation of the growth. A break of resistance may trigger a rally. But unpredictable news may change the market mood and in this case active selling may start. Regards R. Linda!
Long
by RLinda
3
GOLD → From rally to consolidation. Rest before NFP...FX:XAUUSD strengthens on the back of Powell's comments. Light positive notes lead to DXY sell-off and a small rally of XAU to 2364. Today is a day off in the US and tomorrow is NFP..... It's a day off in the US and there is no liquidity. There may be high volatility during trading, but the movements may be weak. Locally, the price is testing resistance and liquidity area. Within a strong distribution there are not many chances to break through the mentioned area. Most likely the formation of a correction, and local bearish patterns appear on the chart, which may lead to a correction in order to gather energy before tomorrow's NFP. Resistance levels: 2364, 2375 Support levels: 2353, 2341 Technically, a false breakout after distribution is forming. There is no potential to go up now. High probability of correction or consolidation. Regards R. Linda!
FX:XAUUSDShort
by RLinda
5
GOLD → A change in mood amidst the comments and newsGOLD is testing the previously broken channel boundary. The market maker is driving the price into the liquidity area before the strong news. Powell corrected the direction a bit within yesterday's speech The chance of a September interest rate cut rises after Fed Chair Powell acknowledged progress on disinflation. Jeremy reverses course slightly to dovish. Markets are awaiting the release of the minutes of the latest FOMC meeting (due later today) to get more information on the Fed's next steps. The regulator needs more data before it can start cutting rates. Data from the US labor sector is also in focus: All eyes now turn to ADP's US employment change report after JOLTS showed a rise in job openings on Tuesday. The next important event for the gold price remains the minutes of the June 11-12 Federal Reserve meeting, which could shed light on the central bank's outlook on rates and inflation, having a significant impact on the value of the U.S. dollar and the gold price. Resistance levels: 2346, 2352, 2363, 2380 Support levels: 2341, 2328, 2319 Technically, we have buyers appearing on the local change of fundamental background. The bulls are winning within the consolidation. There is a possibility of strengthening, but we should pay attention to the news.... Regards R. Linda!
FX:XAUUSDLong
by RLinda
10
GOLD → 2319 keeps the market from falling, but for how long?FX:XAUUSD GOLD is still consolidating within the local range of 2340 - 2320, which is formed after breaking a strong trend line support. The dollar index is still heading northward Gold is still unable to break downside resistance, as well as forming price consolidation below previously broken support. The key risk zone on which the bulls put so much is 2319-2320. A breakdown and consolidation of the price below this line may trigger a rally to 2290-2275. All eyes are on Fed Chairman Jerome Powell's speech today at 13:30 GMT The recent rise in gold prices can be attributed to lower US Treasury yields as traders resort to profit taking ahead of important US events. ISM, FOMC, NFP are ahead, but the fundamental background for gold is still weak and buyers do not believe in upward movement yet. Resistance levels: 2332, 2341 Support levels: 2319, 2306, 2297 Technically, a bearish pattern is developing on the senior timeframe, unless Powell says something unpredictable today, the general background will remain the same, which will be favorable for further price decline to these areas. Regards R. Linda!
FX:XAUUSDShort
by RLinda
21
EURO - Price can exit from triangle and reach resistance levelHi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 A few moments ago price declined from resistance area, after which it made upward impulse to $1.0895 points. Price broke $1.0790 level and started to trades in flat, where it some time traded until it reached top part. After this, Euro made downward impulse, thereby exiting from flat, but then price at once entered to triangle pattern. In triangle pattern, price broke $1.0790 level and fell to support level, which coincided with support area. Euro some time traded near this level and recently it reached resistance line of triangle, where continues to trades near now. In my mind, Euro can decline to support level and then bounce up to $1.0790 level, exiting from triangle. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
14
NZDUSD → Traders prepare for bearish rally to 0.60OANDA:NZDUSD is consolidating after breaking the uptrend support. There are no signs on the chart for possible growth, only if the fundamental environment does not change drastically... Technically, a bearish situation is forming on the senior timeframe within the 0.6219 - 0.6084 range. Traders do not believe that the dollar will start to fall and are forming sell-offs of the New Zealand dollar. A break of 0.6083 could lead to a strong sell-off that could spill the market to 0.60 - 0.587. But as the US GDP will be released tomorrow, the market may continue to move flat until some important measures are taken by the major traders. Resistance levels: 0.6140, 0.6215 Support levels: 0.6083, 0.600 I expect a retest of the support against which a small rebound may follow. But, if the situation both technically and fundamentally will not change in the near future, we should expect the formation of a bearish trend. Regards R. Linda!
Short
by RLinda
7
GBPUSD → The rallies in GBP continue. Falling to 1.26?FX:GBPUSD on Friday updates the local low and confirms the bearish nature of the market. Since the opening session traders have been trying to buy back some of the decline and are heading towards the liquidity zone, from which bears may intensify selling Traders increased selling in GBP to a 16-month high amid expectations that the Central Bank of England will start cutting interest rates sooner than the US Fed. Investors are expecting the GDP of both countries (UK and US) on Wednesday and Thursday. This will help to form a medium-term strategy. Technically, price is heading towards the 1.270 zone of interest (psychological area), which previously played the underlying consolidation support. A retest and capture of the liquids could change the imbalance in the market, which could lead to an intensified sell-off from the said area Resistance levels: 1.27, 1.275 Support levels: 1.26, 1.257 The dollar index looks stronger than the pound sterling, which continues to weaken due to fundamental reasons. The Feds are not yet ready to take premature action, which generally determines a negative fundamental background for the currency pair. Regards R. Linda!
Short
by RLinda
13
GOLD → Countertrend correction or consolidation before a fall ↓FX:XAUUSD has been updating the local minimum since the opening of the session and confirms the bearish nature of the market. The price is heading towards the area of interest and liquidity before a possible decline Today the focus is on the news: S&P PMI, ISM. Traders are expecting relatively warm data, but, at the moment, everything revolves around the perception of inflation news regarding the inflation itself in the Fed's further view on monetary policy. High volatility is possible. Technically, on D1 gold is trading in bearish territory and at the moment, after updating the local low, the price is heading towards the liquidity zone, from which the sell-offs may increase. There is a possibility that before further decline the price may go deeper, for example, to test the imbalance area, as well as the previously broken channel boundary (liquidity capture). Resistance levels: 2332, 2341, 2346 Support levels: 2325, 2315, 2306 It is possible that the situation may change, as traders are overreacting to inflation-related news, but at the moment, on the high timeframe is formed exclusively bearish setup on the negative fundamental background. Regards R. Linda!
FX:XAUUSDShort
by RLinda
23
UNFI → Resistance Retest. Ready for a breakthroughBINANCE:UNFIUSDT is showing positive dynamics amid the red cryptocurrency market. The coin is approaching strong resistance and we have the potential to catch a breakout with subsequent growth. On the weekly timeframe, the coin is still in consolidation (range 16.0 - 2.5). But, against the background of the general neutral trend we have a downward resistance, which is once again being retested. A pre-breakout consolidation is formed against the wedge resistance, due to which an attempt to break the line and further strengthening can be formed. An initial test of resistance may lead to a small bounce, but a quick retest will increase the chances of a breakout. Support levels: 3.281 Resistance levels: 5.716 I expect the formation of a local consolidation with a gradual push to the resistance of the wedge and further breakout. Regards R. Linda!
ULong
by RLinda
13
GOLD → Further direction depends on PCE and traders' perceptionsFX:XAUUSD strengthens on the news as traders took it as a possible easing of inflation. The dollar under pressure is favorable for gold. Ahead of the core PCE, traders expect inflation to ease from 2.8 to 2.6 If inflation data points to a slowdown in inflation, the gold price is likely to recover as the US dollar will be under strong selling pressure. This fact could be a kind of signal for a possible interest rate cut in the US in the fall (which everyone is waiting for). On the contrary, the US dollar may continue to strengthen and put pressure on the gold price if the data is unexpected.... On Thursday, mixed data on the growth of the US economy, put downward pressure on the US dollar. This helped the gold price to strengthen to 2330. Technically, the price is testing the liquidity area where the bears may enter the fray. A false breakdown of the previously broken channel boundary may lead to another selloff. Resistance levels: 2340, 2352 Support levels: 2332, 2319 Gold is currently in the selling zone and traders do not believe in the possible growth, the priority is to consider the price decline, but do not rush to conclusions ! Ahead of the news, a change in the fundamental environment will attract investors and we may see a breakdown of 2340 and growth to 2360, but if the fundamental background does not change, an impulse to 2300 may be formed. Regards R. Linda!
FX:XAUUSD
by RLinda
23
EURUSD → Weak market. The target is 1.06. But, news... FX:EURUSD is forming a consolidation, characteristic of a pre-breakout, against a key support line as the dollar index continues to gain support and hold north. A strong bearish situation is developing on D1. There is no strong buyer in the market that can turn around a weak market under pressure from strong bears. The market is below the MA200-MA50 daily moving averages and is also forming consolidation relative to the support, which with a high degree of probability speaks about the intentions to go lower. On H4 the price is in consolidation, above the local maximum is the area of liquidity, as well as resistance, which can test the market before the subsequent decline. BUT! Today's news. Traders are waiting for PCE inflation data.... Resistance levels: 1.07238, 1.07816 Support levels: 1.0664, 1.0606 Technically and fundamentally, the currency pair is in a neutral-negative outlook. If the fundamental background does not change today, I will still stick to the downward movement to 1.06- 1.055. Regards R. Linda!
Short
by RLinda
7
GBPCAD → Trend Change. The fall may continue to 1.710OANDA:GBPCAD breaks the uptrend, a bearish rally is forming and the price is testing local support. A break of the liquidity area will renew the sell-off against a weaker GBP and a rising CAD. Pound sterling is moving from accumulation to realization and downward distribution on the background of expectations that the UK central bank will start an earlier interest rate cut relative to the US Fed. The Canadian, on the contrary, is growing on the background of monetary policy tightening in the country. The resistance at 1.7336 plays a key role for the currency pair at the moment. A false breakdown (touching the SMA) is possible before the subsequent price drop, a breakdown of 1.7297 will strengthen the sell-off. Resistance levels: 1.7336, 1.7387, 1.7415. Support levels: 1.7297, 1.7228 I expect consolidation in the local range, which may turn into a phase of further decline. Key liquidity zones are 1.7228 - 1.7085. Regards R. Linda!
Short
by RLinda
1
GOLD → Correction before the news. Bears may resist ↓FX:XAUUSD after falling to 2293 is forming a correction before the news as traders are shrugging off fear of unpredictability. Important news ahead that determines the medium term strategy Traders are waiting for US GDP and PCE inflation data. Bullish data against the dollar could hurt the price of gold quite a bit, which could head towards 2220 and get a downward correction phase change to a downtrend. Regulators are still sticking to the fact that inflation is high and it is still hard to fight it. Technically, price is forming a bounce. Local rally is directed towards interest and liquidity: 2315-2325. Possible retest of local resistance before the news, if the general mood does not change, the fall will continue from the above zones. But, a break of the resistance at 2325 will bring the market back to the range boundaries.... Resistance levels: 2315, 2325, 2332 Support levels: 2306, 2397, 2287 Unpredictable news makes trading difficult, but based on the current data the market is bearish, there is no big buyer yet, local data may form a shakeout and increased volatility, after the exhaustion of which traders may return to sell-offs of metal Regards R. Linda!
FX:XAUUSDShort
by RLinda
22
GOLD - Price can correct to support level and then bounce upHi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊 Recently price fell to resistance level, which coincided with resistance zone, and soon broke this level and entered to flat. In flat Gold declined almost to bottom part, after which tried to grow, but later finally fell to bottom part. Then, the price bounced up to resistance area, after which turned around and made downward impulse. Price exited from flat and started to grow in rising channel, where it made fake breakout of $2300 level. In channel, price rose to $2366 points and then in a short time fell to support level, exiting from channel. Now price rising and I think Gold can correct to support level and then bounce up to $2350 If this post is useful to you, you can support me with like/boost and advice in comments❤️
OANDA:XAUUSDLong
by WalterMoon
2
GOLD → An attempt to break H4-D1 support. Fear?FX:XAUUSD is updating the low. The breakdown of the structure confirms the dominant bearish potential. But, the price is moving reluctantly in anticipation of the news. There could be a retest of resistance (trap) before falling. The dollar is strongly bullish. The US market situation is difficult and regulators have hinted more often about rate hike, inflation is uncontrollably rising and this is a negative scenario for the markets. The situation in the Middle East is heating up: the Israeli army continues to pull heavy military equipment to the borders of Lebanon. The intensification of the conflict will increase the interest in gold as a safe-haven asset. At the moment, technically, gold is in a selling zone, as the price is breaking the strong support area H4-D1. A retest is possible before the subsequent fall (if the overall fundamental environment does not change dramatically). Resistance levels: 2326, 2332, 2341 Support levels: 2315, 2306, 2297 Traders are waiting for the US GDP, which will be released tomorrow. Traders expect the DXY to continue its northward course, accordingly, the expensive dollar on gold may have a negative impact... Regards R. Linda!
FX:XAUUSDShort
by RLinda
32
PEPE → The end of the correction may take us back to an uptrend BINANCE:PEPEUSDT - the meme coin is showing signs of a possible end to the correction and a return of price to the bullish trend continuation phase. On the local timeframe, the price forms an exit beyond the resistance of the descending channel, characteristic of the correction against the background of the bullish trend. Against the background of bitcoin capitulation and the general mass of altcoins, the meme coin PEPE looks quite cheerful. The price can move into the phase of the 5th wave realization if the bulls can keep the defense above 0.0000114. The next boundary is the range resistance. The breakout of this area will be a green traffic light signal for the buyers, the potential of which could strengthen the price towards ATH Resistance levels: 0.0000125 Support levels: 0.0000114, 0.00001084 I expect that the bulls will do their job and will soon be able to bring the price to the nearest resistance, where a fierce struggle for further space between buyers and sellers may take place. Regards R. Linda!
Long
by RLinda
7
USDJPY → False break of support, Yen weakens. 160.0 again?FX:USDJPY fell under the correction wave, which was caused by the liquidation of buyers based on the change in the fundamental sentiment of the dollar index. It didn't last long. Buyers liquidation on the back of strong bullish trend. (A big player collects the position) In general, both technically and fundamentally, the situation remains unfavorable for the Japanese yen. The national currency may continue to weaken and thus test the current ATH. False breakdown of trend support brings the price back to the range of 155.95-157.23. Possible retest of resistance with the subsequent breakout and growth to the far liquidity zones. Resistance levels: 157.23, 158.44 Support levels: 155.95, 154.77 The bulls should hold the defense above 155.95 with the aim to continue rising. The intermediate key point is 157.23 with the possibility of further breakout and growth. Regards R. Linda!
Long
by RLinda
10
GOLD → Trading inside the range. 2340 zone of interest FX:XAUUSD is not preparing to leave the local ascending channel (the nature of the channel is corrective-consolidation), as traders do not seek premature action before the news The U.S. market is facing another problem: slowing economic growth and rising inflation is leading to recession, no matter how much the authorities deny it. Accordingly, the phase of active currency support may continue and this may have a negative impact on the metal price. Today CB Consumer Confidence - the indicator can give some idea about the mood on the market, but in general traders are waiting for the US GDP, which will be published on Thursday. Neutral data is expected, but there is a high probability that the actual data will be different from the expected... Resistance levels: 2341, 2354 Support levels: 2326, 2315, 2305 The general mood is neutral, the big players are not in a hurry to act and are consolidating. Technically, gold may strengthen to 2340 (area of interest and liquidity) within the range. The bulls may stop the micro rally and turn the price to the support, if the market maker is not enough, the price may strengthen to 2354 before coming back down Regards R. Linda!
FX:XAUUSDShort
by RLinda
6
Extended flat pattern in the fourth waveGreetings, Dear friends, I hope you are well and have had a week filled with successful and profitable transactions. Regarding the silver market, I believe it behaves similarly to the gold market. Currently, I see it in the third wave, which is the fourth wave in an extended flat pattern. However, this analysis is subject to change. In both cases, we need to observe the price action using an impulse pattern and look for the formation of a corrective pattern to determine potential price targets. Keep in mind that the corrective pattern can take various forms. Note: I am a new analyst in the world of wave principles with three years of experience, and I am developing an analytical idea. There is no 100% certainty in financial markets due to the complexity of various patterns that can change. However, I do my best to back up any analysis I share with you guys with everything I've learned so far. A brief explanation of the three fundamental laws of the wave principle: 1. The second wave should never go beyond the beginning of the first wave. 2. The third wave should never be the shortest wave between waves 1, 3, and 5. 3. The fourth wave must never enter the territory of the first wave. Ralph Nelson Elliott was the founder of this theory, and when asked about his view of the market, he always referred to five waves in the direction of a larger trend and three waves against the direction it was taking. After completing an eight-wave cycle, a larger cycle is formed in the future. It's as simple as that. May his memory be cherished, and may his soul rest in the shelter of God Almighty and the eternal world. I am attaching the analysis of this market that I shared with you earlier to this current analysis. The last word of my analysis text is repetitive, except for the explanation of the current analysis, because I also trade in the financial markets and am active in my social networks, working hard to improve my skills in analysis and trading to reach my goal. I apologize for repeating the text. I welcome suggestions and criticisms, and I will certainly respond, but a logical reason is important to me. Thank you for taking the time to review my analysis, and thank you all. To all my dear friends and colleagues, first of all, I wish you health and success in your goals. Mehdi Abbasi with the nickname (Mr. Nobody)
COMEX:SI1!Long
by mehdi47abbasi79
GOLD → Correction after the rally. Bears still dominateFX:XAUUSD has been strengthening since the opening of the session, buyers are trying to hold the defense above 2325 and redeem part of Friday's fall. Fundamental background remains negative. Idea: GOLD → Bears are engulfing the market. What's next? We discussed a possible rebound and the strength of the bear market. The price consolidation above the strong support at 2326 opens the range for maneuvering and may allow traders to strengthen to 2341 (2354) - the area of interest, the target of such maneuvering may be the liquidity inside the range, formed within Friday's rally by those who tried to catch the departing train. If 2341 will be confirmed and the bears will not let the price go beyond its limits, the market may go into the sell-off phase again. Investors this week are interested in GDP and PCE, which are released in the second half of the week, the first half of the trading week may be relatively quiet. Resistance levels: 2341, 2354 Support levels: 2325, 2315, channel support I expect the correction to continue to the area of liquidity and interest. A major player may gather the rest of the potential before further movement in one direction or the other. Watch the price reaction to the level of 2341, which may determine either a fall or further growth to 2354. Regards R. Linda!
FX:XAUUSDShort
by RLinda
2
BITCOIN - Price can start to grow to resistance line of channelHi guys, this is my overview for BTCUSDT, feel free to check it and write your feedback in comments👊 Some days ago price broke $66600 level and entered to flat, where it soon reached top part, which coincided with $71500 level. Then price made correction, after which in a short time, it rose back to $71500 level, turned around, and started to decline. BTC exited from flat and continued to decline inside falling channel, where later it broke $66600 level. After this movement, price some time traded in resistance area and then bounced down to support line of channel. At the moment, BTC trades near this line and I think that price can fall to this line again and then bounce up to $64200 If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
GOLD → Bears are engulfing the market. What's next?FX:XAUUSD is hit by a strong wave of selling on optimistic fundamental data in the US market. A takeover is forming on the chart, which clearly makes traders panic. Technically, buyers who showed interest in the metal, which started the strengthening phase from the middle of the month got under liquidation. The sellers are not ready to let the price go beyond 2350-2360 and staged a bearish rally, energized by the fundamental background, which sharply strengthened towards the already bullish dollar. Geopolitical tensions are still at a high level, the reason for this: rumors that the Israeli army approved an offensive against Lebanon. Toward the end of last week, the dollar both looked and continues to look quite strong, on the back of upbeat S&P Global Manufacturing PMI data. The index rose to 51.7 in the June estimate from 51.3 in May, while the services PMI rose to 55.1 from 54.8, showing continued expansion of private sector business activity at a rapid pace. Traders are awaiting U.S. GDP to be released on Thursday and on Friday the BEA will release PCE price index data for May, the Fed's preferred measure of inflation. Resistance levels: 2325, 2332, 2340, 2355 Support levels: 2315, 2305, 2290 Overall, traders may try to buy back some of Friday's decline from local bullish channel support and test the resistance and liquidity area of 2332-2340. But a number of technical and fundamental patterns point to a negative backdrop, and this could generally signal a continuation of the decline after a small correction. Active selling may intensify with a downward breakout of 2316-2320 level Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
7