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Technical analysis update: XAUUSD (10th August 2021)Many people may feel perplexed about yesterday's selloff in gold when price halted its decline at 1677.686 USD (after 4 bn. USD sell order hit the market). At some point a spread between bid and ask reached more than 35 USD (mainly around yesterday's low). Upbeat economic data with decreasing unemployment point to the steady recovery and lay out path for future rate hikes and taper by the FED. Yesterday's price decline stopped at March lows suggesting strong support in this area. RSI reached oversold level and is striving to reverse. MACD and Stochastic are bearish. Despite that we believe there is not much more downside for gold from here. We believe that short term struggle in gold is nearing its end. Eventually FED will be forced to hike interest rates due to soaring inflation making it bullish case for gold in long run. In our opinion current price of gold is very attractive for entering a long position. Our medium term price target remains 1850 USD and our long term price target remains 1875 USD. Disclaimer: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
OANDA:XAUUSDLong
by Tradersweekly
10
AUDUSD 4hour Analysis August 8th, 2021AUDUSD Bearish Idea Weekly Trend: Bearish Daily Trend: Bearish 4Hour Trend: Bearish Trade scenario 1: Looking bearish on AU overall and we are a few confirmations away from a great short scenario. Currently we’re looking for price action to present a lower high followed by strong bearish setups to enter on just below 0.73800. Trade scenario 2: For us to consider AU bullish we would need to first see a break of resistance at 0.74000 with a higher low above.
Short
by ForexLeague
AUDUSD 4hour Analysis August 1st, 2021AUDUSD Bearish Idea Weekly Trend: Bearish Daily Trend: Bearish 4Hour Trend: Bearish Trade scenario 1: Overall we are bearish on AU and price action looks like it will continue with that trend this week. From where price action currently is there are no perfect opportunities which is why a pullback would present a better opportunity. Look to target lower if we can spot a strong continuation after a reversal closer to broken resistance. Target toward 0.73000 support. Trade scenario 2: For us to consider AU bullish we ideally need to see higher low above 0.74000 with strong bullish setups.
Short
by ForexLeague
1
AUDUSD 4hour Analysis July 18th, 2021AUDUSD Bearish Idea Weekly Trend: Bearish Daily Trend: Bearish 4Hour Trend: Bearish Trade scenario 1: Overall we are SUPER bearish on AU right now. We are at key support near 0.74000 so we know to wait and expect some sort of reaction first. But we can also notice a pretty large descending wedge pattern at the bottom of a large bearish leg. Technically the pattern and formation in this situation means both a continuation or reversal can happen. Based on price action first and the direction of the overall trends it’s more likely price action will push lower. In this event we’ll look for a lower high below support at 0.74000 and target lower toward new support levels. Trade scenario 2: For us to consider AU bullish we ideally need to see higher lows above 0.75000. Anything else could still be part of a pullback and still be considered bearish.
Short
by ForexLeague
AUDUSD 4hour Analysis July 11th, 2021AUDUSD Bearish Idea Weekly Trend: Bearish Daily Trend: Bearish 4Hour Trend: Bearish Trade scenario 1: All timeframes are bearish on AU and we plan to continue with this trend. Currently price action is at resistance near 0.74900 and how it reacts here will determine where price moves on this 4hour timeframe. Ideally we want to spot a reversal at current resistance followed by strong bearish setups to enter short on. Look to target lower toward support at 0.74000 Trade scenario 2: For us to consider AU bullish we need to see a break of resistance at 0.74900 with a confirmed higher low above. Look to target higher toward key resistance levels.
Short
by ForexLeague
AUDUSD 4hour Analysis July 5th, 2021AUDUSD Bearish Idea Weekly Trend: Bearish Daily Trend: Bearish 4Hour Trend: Bullish Trade scenario 1: AU is looking bullish on the 4hour timeframe because it is correcting a larger bearish impulse move. This means that we will be looking for our next Lower High near an area of confluence. Ideally we want to see a reversal around our 38.2% fib level with strong bearish confirmations. If this happens we will look to target lower toward 0.74000 & our -27% fib level. Trade scenario 2: For us to consider AU bullish again we would need to see a break of resistance around 0.76000 with a confirmed higher low above. Only then will we begin to look for long opportunities.
Short
by ForexLeague
AUDUSD 13/06/2021 - WEEKLY FORECAST TF 2HHello Traders! While Penguins are on the hunt, you can easily join them as well! It is easy, all you need to do is to collect the hearts and watch for the eye signs. Heart in the box - a place to take profits Eye sign - spot to jump in, or watch Penguin - expected direction Have fun with it, and remember - this game is about the patience. Keep yourself cool. Like it if it was helpful to you. We appreciate the likes and comments. Provided feedback helps us with the future service. Got questions? Feel free to DM us! Thank you for your attention, GOD BLESS U ALL !!!
by UnknownUnicorn20315650
AUDUSD 4hour Analysis June 13th, 2021AUDUSD Bearish Idea Weekly Trend: Bullish Daily Trend: Bullish 4Hour Trend: Bearish Trade scenario 1: We were recently in a range but finally price action seems to be breaking out. Currently we're seeing an attempt at a bearish break but we’re waiting for confirmation in the form of a lower high below 0.77150. Look to target lower toward major levels of support. Technically price action can retrace to 0.77600 and still be bearish. This is why we want to wait for a lower high below the next key level. Trade scenario 2: For us to consider AU bullish again we would need to see a break above resistance at 0.77600 with a higher low above.
Short
by ForexLeague
AUDUSD 4hour Analysis June 6th, 2021AUDUSD Bearish Idea Weekly Trend: Bullish Daily Trend: Bullish 4Hour Trend: Bearish Trade scenario 1: Overall we are bullish on higher timeframes but the 4hour has been stuck in a range for weeks. More recently we’ve been seeing price action hint at breaking lower but nothing has been confirmed yet. Ideally we want to see a lower high below 0.77150, at the very least. Look to target lower toward our 0.76000. Trade scenario 2: If price action fails to break the range look for our resistance near 0.78000 to be tested. It’s very likely this will happen if we don’t break here.
Short
by ForexLeague
1
AUDUSD 4hour Analysis May 30th, 2021AUDUSD Bearish Idea Weekly Trend: Bullish Daily Trend: Bullish 4Hour Trend: Bearish Trade scenario 1: The higher timeframes are mainly bullish but 4hour price action looks to be breaking the support of the range. To confirm this we need to see a lower high below resistance at 0.77150. Look to target lower toward support near our weekly (0.76000). Trade scenario 2: For us to consider AU bullish, we would need to see price action push back into the range with a confirmed higher low. If this happens look for price action to fill the range, target higher toward the top.
Short
by ForexLeague
AUDUSD 4hour Analysis May 16th, 2021AUDUSD Bullish Idea Weekly Trend: Bullish Daily Trend: Bullish 4Hour Trend: Bullish Trade scenario 1: Overall we are pretty bullish on AU and are looking to continue with that trend. Ideally, we want to see a break and retest of resistance at 0.78000. Look to enter long on a confirmed higher low with strong bullish setups. Target higher toward prior highs and major resistance levels. Trade scenario 2: For now price action is in a range and could continue this way for further weeks. Look to play the range if you see lower timeframe opportunities. Otherwise, for us to consider AU full bearish we need to see a transition of support of the range.
Long
by ForexLeague
AUDUSD 4hour Analysis May 9th, 2021AUDUSD Bullish Idea Weekly Trend: Bullish Daily Trend: Bullish 4Hour Trend: Bullish Trade scenario 1: Overall we are very bullish on AU and we recently saw a major break of resistance at 0.78000. Now we want to see this break confirmed. Look for a pullback and higher low at 0.78000 & our 38.2% fib level. Look to enter long on strong bullish confirmations and target higher toward our negative fib levels. Trade scenario 2: For us to consider AU bearish we need to see a break back below 0.78000. Enter short on a confirmed lower high below. Look to target lower toward the bottom of the range.
Long
by ForexLeague
1