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EUR/AUD Is At a PIVOTAL Moment! EUR/AUD is again at a fascinating position. It is touching the super important 1.66 resistance once again. If the price manages to break through this level we might see enormous gains in a very short period of time. During this pivotal moment we will have to keep a close eye on the price to see what happens. If the bulls manage to break through the resistance it could be very interesting to go long. Similarly, if the bears are strong enough once again (just like they have been at least 8 times already), a short position will be the better option. Since EUR/AUD doesn't move fast generally, we have the time to observe the price and wait for confirmation or rejection of the horizontal zone first. I suggest to not enter a trade yet, but simply keep this pair on your watchlist and set a reminder for when the price crosses important levels. Such as the 1.67 level for the bullish breakout or the 1.64 level for the rejection. Follow me for consistent high quality updates, with clear explanations and charts. Please like this post to support me. - Trading Guru -------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only!
by Trading-Guru
12
AUDUSD - WEEKLY OUTLOOKTECHNICAL POINTS: Weekly Fib (white) Daily Fib (blue) 4hr Fib (orange) Weekly support Daily resistance 4hr 200EMA 4hr 800EMA Clear Downtrend on Daily Clear Downtrend on 4hr Buy Confirmation (1): Break and close above Daily resistance, 4hr 61.8% fib, daily 23.6% fib This would also break the lower high/lower low structure and negate the usual correction pullback to the 4hr 61.8% fib level. Buy Confirmation (2): Daily rejection of weekly support and fibs in that area creating a double bottom Sell Confirmation: Break of weekly support, fib levels and 4hr 800ema to target previous swing lows.
by RealistFX
Bearish on Africa Gold minerWhy the Bearish on Gold miner? Africa is shut Down for 14 days!, all mining activity shutdown! Most Africa based miners are DOWN!! Pending follow up with more EURO shutdowns. sooo? SOOOOO, This company is up because Gold is UP, Please buy it because they think it's GOLD! EVEN So, people only buy gold due to fear of recession bets and fear of the weak dollar. But guess what? GOld will crash if we have a flash crash anyways!!! that means, we will win, if market crashes hardcore, and we would win if market continues to rally up and cancels recession fear. Win WIN AU- Short Shares IDEAL on Short entry - $24.50 Buy to cover $16.23 buy to cover Trailing stop $4
NYSE:AUShort
by WallSt007
4
Technicals for Gold: First Trading Week of GoldIf you think the rioting and looting are bad now, wait until the supplemental unemployment benefits expire, or inflation wipes out their value. What happens when price controls or rationing lead to food and power shortages? What we're seeing now is but a glimpse of what's coming. Powell admitted the Fed crossed a lot of red lines that had never been crossed before, but that given the situation it was necessary, and the Fed would figure it our afterward. It's the Nancy Pelosi version of monetary policy, "we need to print the money to see where it goes." The UMich Consumer Sentiment Survey unexpectedly fell to a 7-yea r low of 72.3 in May, down from 73.7 in April. The expectation was for a rise to 74. To me the surprise isn't that the number dropped, but that it didn't drop by more. The outlook is far worse than consumers realize. The Chicago PMI collapsed to 32.2 in May, its lowest level since 1982. Analysts had expected a recovery to 40 following the 35.4 print in April. While investors continue to expect a V-shaped recovery, the data continues to show that the economy is far weaker than most believe. Maybe the real reason GoldmanSachs is so bullish on the dollar is that as a primary dealer of U.S. Treasuries, they have a lot of dollars to sell. If Goldman's clients realized the dollar's fate, they wouldn't buy any Treasuries. Whether default or inflation, loss is inevitable.
OANDA:XAUUSDLong
by TayFx
7