Ahort
DeGRAM | GOLD second touch of resistance and fallAfter rising from the support level 1685.17 the price:
- broke through the support of August 2020 - 1713.61
- broke through the support for july 2020 1742.67.
- came to resistance 1800.97.
Since the end of April, the price has been moving along it.
I expect the price to make a second touch of the resistance at 1786.88.
And then it will fall to the support.
Reasons for the fall:
- strong trend line resistance August 2020
- the first touch of the line at 1800.97
- the beginning of the fall but consolidation towards the line (can be regarded as a good consolidation).
The target is 1719.24.
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EURUSD continues FALLING from RESISTANCEThe price of the euro-dollar continues to move according to the target that we set in the previous forecast - namely, to fall from the strong resistance line at 1.217.
The movement is rather slow. However, there is every reason to believe that it will continue in the near future. What are the reasons?
Firstly, the resistance line from which the price pushed off is very strong. Not only was the first touch in 2019, but since then the price has never been able to break through this line.
Secondly, during the last month - from the beginning of November - the price was in a local upward trend. Such a long and moderate growth cannot continue all the time. What we see is that the price has already reversed.
So now I expect the price to continue to fall. And in the fall it will reach the support line. The target in this case is the support line around 1.199.
Traders, if you liked this idea or have your opinion on it, write in the comments. I will be glad👩💻
USD/CAD SHORT - Broken 4HR Trend LineI have opened a short position on USD/CAD. I believe it will be going lower and will consolidate to the weekly support level.
The pair has recently broken the 4HR trend line supporting it, and now looks to move lower.
At the moment the price has retraced slightly to a small resistance area however should be forced back downwards towards weekly support.
SL @ 1.35325
TP @ 1.33943
R/R @ 2.0