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Descending Channel

🥇GOLD - Can the market turn around? Or will it keep falling? Gold against the background of a bearish trend is forming a setup that could reverse the price direction. The bearish trend, with a small degree of probability can stop TA on the high timeframe: 1) Price forms a retest of 1902.87 after a month and a half. The price will not break the level from the first time, most likely a rebound may be formed 2) A sideways range may be formed when a rebound from support is formed. TA on the low timeframe: 1) A bearish channel is forming. 2) A descending wedge is formed against the background of the bearish channel. A retest of the figure support may push the price upwards 3) A retest of the figure's resistance may well break the local line and the price may form a surge to 1914 or 1930. Key support📉: 1902 Key resistance📈: downtrend line and 1914
OANDA:XAUUSD
by AndeWave
11
GOLD → The Bears continue to dominate. Ahead of CRS, RSOANDA:XAUUSD continues to update the lows. The price bounces from the local liquidity area of 1903 and forms a correction, making another attempt to retest the trend resistance The upper boundary of the descending channel does not let the price yet, most likely targets below the most important. Reports released today are: 1) Core Retail Sales (no data, the previous ones were bearish) 2) Retail Sales (expected to strengthen) After retesting the support, it is likely that the price may head up to retest the trend resistance, there is a possibility that the price may break the line and start to form a flat (consolidation) before moving further to one side or the other. A global bearish trend dominates the market. I still expect a retest of 1900 as a priority (a false breakout is possible) Moving averages act as resistance Support levels: 1905, 1903, 1900 Resistance levels: 1908.3, 1912.7 In priority, I expect the price to fall from the channel resistance to 1900 with the subsequent rebound and the formation of a flat on the background of the bear market. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
23
🥇 GOLD - Price is breaking support but not falling yetGold is breaking a new milestone and breaking the support of the descending price channel. Price is consolidating between the downtrend line and 1933.9 support, pre-breakdown consolidation may break the support and price will fly downwards TA on the high timeframe: 1) Break of support at 1938 (lower boundary of the global range 2) Consolidation below the support is forming 3) Negative fundamental background for gold TA on the low timeframe: 1)Trend support is broken, price is consolidating lower 2)If 1933.9 is not broken, then there will be a false break of support and price will head towards 1950 Key support📉: 1933.9 Key resistance📈: 1938.7
OShort
by AndeWave
14
🥇GOLD - The price is getting ready to drop. False breakout Gold is testing trend resistance again, Price is forming a strong consolidation and there is a noticeable lull in the market, most likely before the storm TA on the high Timeframe: 1) Local support is forming at 1912, and consolidation near the level 2) There is still a potential for a decline to 1902. TA on the low timeframe: 1) Price is forming a bounce from trend resistance after a false breakdown 2) If the price can break the support of 1912, 1910 then it will head down to 1900. 3) The trend is bearish and I expect the price to decline in priority. Key resistance📈: 1915 Key support📉: 1912, 1910
OANDA:XAUUSDShort
by AndeWave
13
GOLD → The price may form a Flat. What does that mean? OANDA:XAUUSD is in a local bearish trend. Within the current trend, the price is testing resistance. Two scenarios are possible: either a breakout or a rebound. What to expect? The price tests the trend resistance and goes beyond it. If the price can consolidate above the level of 1914 after the channel breakout, the price may form a potential upside to 1924.8 But again, the price may form a false break of the trend resistance, in this case the price return to the channel boundaries will confirm the bearish potential, the price will head down to break 1912.7 and continue its fall to 1900. Break of resistance and growth to 1924 may form consolidation or flat 1924.8 - 1912. If the upper boundary of the future flat is retested, we can look for sell signals Support levels: 1912 Resistance levels: 1915, 1924.8 I expect one of the scenarios to develop, it is important for us to wait for confirmation. Most likely a flat formation may follow and in this case the price will initially head towards 1924.8. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
24
🥇GOLD - Support retest gives a medium-term perspective Gold is testing one of the mentioned support lines and on Friday the price closes the session near the border. When the session opens on Monday, a quick fall to 1900 is possible TA on D1 1) The dollar index smoothly tends upwards after the consolidation above 102.09, which indicates that the price is ready to grow further, and in this perspective gold will continue its fall. 2) The chart below is forming a consolidation before breaking through the 1914 area, a third retest is being formed. TA on H4 1) A descending price channel is formed. The market is testing the support area of the channel for the third time already 2) The next retest may lead to a break of trend support, in this case the price may test 1900 or 1895. 3) Below this support is a strong area, buyers will not let 1900 be broken so quickly. 4) A bounce and correction is possible from 1900-1895 Key support📉: 1913.8, 1900, 1895 Key resistance📈: 1920, 1930
OANDA:XAUUSDShort
by AndeWave
13
GOLD → The market is ready to continue its declineOANDA:XAUUSD continues to form a descending price channel. On Thursday a candlestick pattern is formed indicating the imbalance of forces in favor of sellers. This week is published quite a lot of interesting news. It is worth paying attention to: 15.08 1) Core Retail Sales (no data, the previous ones were bearish) 2) Retail Sales (expected to strengthen) 16.08 1) CPI (expected to decline) 2) FOMC Meeting Minutes 17.08 1) Initial Jobless Claims (no data, previous ones were bearish) 2) Fed MI In general, bad indicators for the dollar may strengthen the interest in gold, but again, we should not forget that news is a complex trading instrument. From a technical analysis perspective, gold is approaching the strong 1902-1900 liquidity area. Last week's session is closing very close to local lows, which can be interpreted as the market's willingness to continue to gain momentum for further declines. A strong bearish trend dominates the market. Local support: 1912.5, if this line is broken, an impulse to 1900 is possible, but a rebound should be expected from the mentioned support, most likely a rebound may follow during the news. Support levels: 1912, 1902, 1900 Resistance levels: 1915, 1920, 1935 Gold continues to decline, and most likely, from the opening of the new week the price may continue to fall, but in the second half there may be a rebound and local contrend strengthening. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
29
GOLD → Resistance retest and false breakout of MA-50OANDA:XAUUSD is testing the indicated target support at 1912.7. A false breakout is formed and the market reacts with a rebound to the false breakout of the liquidity area The price is testing the resistance of the next bearish channel. There is a possible reaction in the form of a fall from the resistance and at the same time, the price may test the resistance area above, there is no sense to talk about a change of trend and global growth now, I stick to the fact that the fall in the medium term will continue. For us an important resistance area, in a bear market, will be the zone: 1919.6, 1924.8, 1930.2. Moving averages act as resistance, the price is already testing MA-50 in the format of a false breakout. Resistance levels: 1919.6, 1924.8, 1930.2. Support levels: 1912.7, 1900 I expect the price to fall along the trend from the resistance areas. Strong bearish trend dominates the market. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
17
RUNEUSDT → Price breaks resistance after retesting the bottom BINANCE:RUNEUSDT is forming a prolonged downtrend. A global setup capable of changing the trend is being formed. After testing the bottom, the price starts to realize the bullish potential The rebound from 0.777 (market bottom) forms a bullish reaction on the background of bitcoin growth. An active strengthening and breakout of the global trend resistance is formed. The price is sandwiched between local resistance at 1.110 and support at 1.003. A local consolidation may be formed with the subsequent retest of the upper boundary of the flat and realization of the breakout. This move may give the market a new potential and price growth. MA-50 acts as support and MA-200 as resistance. The height of the range is large and this gives scope for the medium term. Support levels: 1.003, 0.777, MA-50 Resistance levels: 1.110 I expect a retest of 1.110 followed by a breakout and further growth to 1.433 or 1.722. Regards R. Linda!
Long
by RLinda
19
🥇GOLD - Retest of resistance gives a sell signal Gold is testing a new low and updating the low. Price is forming a bounce and testing trend resistance, but more likely another decline may be formed which will further weaken the price. TA on the high timeframe: 1) We should consider 1902.87 as a medium-term target 2) Yesterday's daily candle formed a strong enough signal to fall - a shakeout was formed (a candle with a long shadow). The market sold off everything it bought and closed the session at the very low. TA on the low timeframe: 1) The market bought back the decline a bit and tested bearish trend resistance. 2) If price does not break trend resistance on the retest, the decline will continue 3) A sell signal is forming now, it is important to wait for the confirmation of the signal Key resistance📈: 1919.7 Key support📉: 1914
OANDA:XAUUSDShort
by AndeWave
11
USDCHF → The dollar may strengthen the currency pair FX:USDCHF pinches the local bottom at 0.85797 and makes a false breakdown, which realizes the countertrend potential at the moment of dollar strengthening. The price strengthens to 0.87779 and forms a setup that can continue the price growth The bearish trend is still valid on the chart. The price is trading under the descending resistance. Pay attention to the dollar index, the price is forming resistance at 102.5 relative to the dynamic buyer. A breakout of this level by the dollar will form momentum in the forex market as well. I expect a breakout of the symmetrical triangle resistance and active strengthening of the price against the trend. Support levels: 0.87000 Resistance levels: 0.87779 I think that following the strengthening of the dollar the USDCHF currency pair will start to strengthen and in the medium term the price may reach 0.89088. Regards R. Linda!
Long
by RLinda
12
GOLD → Counter-trend correction before further decline OANDA:XAUUSD is testing a key liquidity area after breaking triangle support. The price updates the global lows and confirms the presence of an ongoing bearish trend The price fails to reach the support at 1912.7 and forms a rebound. Most likely the target of 1912.7 is still valid, but before the support is retested the market needs more liquidity and for this purpose a correction is formed to retest the previously broken level. The price is heading towards the triangle pattern. The line of 1922.5 can be tested, or the price can go a little further, for example to 1927.5 or to 1932. It is impossible to talk about global growth now, the price is in a strong falling movement and continues to update the lows. We are looking for strong resistance areas to sell. Resistance levels: MA-50, 1922.5, 1927.5. Support levels: 1915,5, 1912.7 I expect the decline to continue after the retest of these resistance levels. Bearish trend reigns on the market. Take it into account in your trading. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
24
🥇GOLD - price corrections before a trend-following decline Gold finally breaks the lower boundary of the bearish channel. The market is forming a 0.6% impulse drop and the price is testing 1914.4. Technical pullback may fix the price in the zone for selling after which the fall will continue TA on the high timeframe: 1) Breakout of the range support forms a strong impulse. The way is open for a decline to 1892 2) Price forms a retest of the liquidity area. High chance of a rebound TA on the low timeframe: 1) Channel support is finally broken. Price formed an impulse to 1913 after which we see a correction to retest the previously broken support 2) Most likely the price may test the old flat - 1923.8, form a false breakout and continue its fall in the direction of the trend. 3) It is worth paying attention to the level of 1923.9, 1930.9 to look for sell signals. Key resistance📈: 1923.9 Key support📉: 1913, 1900
OANDA:XAUUSDShort
by AndeWave
10
💱EURUSD - The market is experiencing an attempt to change the tEURUSD is forming a reversal setup after a false breakout of the daily support level. The price may experience an attempt to change the local trend TA on the high timeframe: 1) A false breakout is formed. The global correction may be over at 1.09526 level 2) Price is testing the liquidity area of 1.1200 TA on the low timeframe: 1) Price is breaking the bearish channel. An impulse is formed to retest the base of the reversal pattern 2) A break of the pattern base may form a bullish impulse towards 1.11447. 3) As the trend is broken, the price may test the resistance in the medium term and the price may strengthen to 1.2430 in the medium term Key support📉: 1.09670 Key resistance📈: 1.10400
Long
by AndeWave
3
GOLD → The bear's paw regulates the market. The red zone OANDA:XAUUSD is forming a setup that can accumulate the potential to continue falling. The price is testing local support and forming a rebound before further decline The global bearish trend continues to develop. The price failed to pass through the 1980 area, forming a false breakout of the resistance area. A downward price channel is formed on the chart, after breaking the trend support the price forms a prolonged consolidation below the support. A descending triangle is formed, which can be interpreted as a dpavlenie prodlavleniya on buyers in the area of 1922. Moving averages show a strong trend and act as resistance. MA-50 confirm the local resistance of the triangle. Support levels: 1923,5 Resistance levels: 1927.5, triangle resistance In the medium term, I expect a continuation of the fall, but before that there may be a rebound to 1927-1930. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
15
🥇GOLD - Another retest of 1930 in a weak market Gold is reducing its volatility and continues to consolidate at 1933.9. On the global timeframe, support at 1938.9 is broken and preconditions for further decline are forming TA on the high timeframe: 1) False breakout after correction. The level of 1938.9 2) Liquidity area. The price is forming another retest. TA on the low timeframe: 1) A situation of buying weakness is forming. Price returns to the retest of 1933 2) There could be a bounce on a decline to trend support, but medium-term potential remains with sellers. 3) The area below 1930 is quite tight and does not let the price in yet. Further continuation of narrow consolidation is likely Key support: 1933.9, 1930, 1926 Key resistance: 1937, 1938, 1943
OANDA:XAUUSDShort
by AndeWave
18
GOLD → Waiting for a trap before a further fall OANDA:XAUUSD is still testing trend support and testing the market reaction. The price is not able to grow at the moment and continues to update local lows On the futures market, the price failed to pass through the 2000 area, on the spot market, the situation is simpler - we see a continued decline in price. The price is trying to get out of the descending price channel, but apparently gold is in the liquidity area, which does not let the price below 1930. A global upward shakeout may follow before a further decline. Or, if the price overcomes the resistance of 1943, then the market will enter a recovery phase and strengthen the price. The potential for growth to 1954-1970 will be opened. At the moment consolidation below the support is forming - a signal for a possible sale. Medium-term outlook 1927-1970 Support levels: 1930, 1927.5 Resistance levels: 1943. 1954 I expect a shakeout or false breakdowns of the local resistance and if the price continues to consolidate below the support, the market will give us a drop. BUT! If the price returns beyond 1943, the growth will start within the descending channel Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
22
🥇GOLD - Market is increasing the chances of a support breakoutGold has been declining since the opening of the session with the result of -0.5%. Earlier a false breakout of 1943 was formed, most likely the price will continue its fall, but only after breaking the support of the bearish channel TA on high timeframe: 1) After breaking the support, the price forms a retest of 1938.9, but makes a false breakout 2) Liquidity area - 1924 (local target) TA on the low timeframe: 1) False break of resistance at 1943.3 forms a decline and a retest of the bearish trend support area 2) Price has previously tested this area and formed a huge liquidity pool, the breakout of which forms a strong downward momentum. 3) A quick retest is formed (after one trading session). The market is increasing the chances of a support breakout Key resistance📈: 1943 Key support📉: 1933.9
OANDA:XAUUSDShort
by AndeWave
15
AUDUSD,Bearish trend,Head and ShoulderGood afternoon, I hope everyone had a succesful trading week and week in their daily lives. Here is a pre market forecast for AUDUSD this upcoming trading week. Last week, AUDUSD was bearish for the most of last week. Toward the end of the week it began a retracement process. Price broke the daily supply/demand area @0.65944. Price is projected to continue bearish momentum to the next 4hr supply/demand area @0.65464. If price rejects this area, look for the head and shoulder formation to form to confirm this projection. If there are any questions, comments, concerns, or you may have a similar analysis to mine please do not hesitate to share, comment, and boost this post.
Short
by NoPumpFakesFx
🥇GOLD - The market is preparing for a recoveryGold is forming a false breakdown of a strong support line. The support and liquidity area formed forms a bullish rally. TA on the high timeframe: 1) False breakout. Price closes above the 1938 support line, gold may rise to 1950-1960 at the beginning of the trading week 2) Price is testing the liquidity area of 1942.8, the market may open with a gap or continue its growth if this resistance is broken. TA on the low timeframe: 1) A candle with a large shadow is forming on H4, the price closes close to the 1942 level after a false breakdown 2) The market is forming a potential to continue rising 3) Waiting for the trend resistance to be reached before considering any further setups. Key support📉: 1933 Key resistance📈: 1942
OANDA:XAUUSDLong
by AndeWave
10
GOLD → FB of flag support. Consolidation near resistance OANDA:XAUUSD continues to form a descending price range after the breakout of the bullish trend. A "flag" pattern is forming within the new channel, a false breakout was made on Friday There is not much important news in the coming week, but it is worth paying attention to Thursday and Friday, the reports may provide insight for the medium-term outlook. Bottom right chart - a flag is forming against the background of the upward momentum. On Friday, the price makes a false breakout of the support of the figure and in the first half of the new week there may be a strengthening of the price and growth to the resistance area. Within the global descending channel price is forming consolidation near resistance, most likely there may be a direct retest of the descending resistance in the area of 1858-1863, there may be an attempt to breakout. BUT again, if sellers are strong, and if you look at the chart, the bearish scenario is developing at the moment, a fall from the channel resistance, a retest of 1935 and a further fall to 1902 may follow. The price is in a range, it is worth paying attention to such levels as: MA50, trend resistance, support 1935.5 Regards R. Linda!
OANDA:XAUUSD
by RLinda
14
🥇 GOLD - A narrow flat could provide strong momentum Gold continues to consolidate and gather liquidity to move in one direction or the other. The NFP report will be released soon which will give a medium term view on pricing TA on the high timeframe: 1) Price has broken 1938.9 support and is forming accumulation below the level. 2) The market is preparing to develop medium-term interest. Consolidation below the support indicates that the market is ready for a fall 3) If after accumulation below 1938.9 the price goes back up behind the level, a strong momentum to 1950 will be formed TA on the low timeframe: 1) Trend support was previously broken 2) Price is forming a prolonged and narrow flat. There is a huge amount of energy forming inside 1932 - 1938. If 1930 is broken, a strong momentum to 1913 will be formed 3) BUT! If a false breakdown is formed (price returns inside the channel and breaks through 1940, a strong upward impulse will be formed. Key resistance: 1938-1940 Key support: 1930-1932
OANDA:XAUUSDShort
by AndeWave
9
GOLD → Consolidation below support ahead of NFP. Trap? OANDA:XAUUSD has been consolidating below the previously broken descending channel support for two days. From the basic fundamentals, this formation suggests a strengthening sentiment for further declines, but there are always nuances to it Analysts were expecting bearish news for the dollar, which was previously published, but the index is showing a bullish bias, suggesting an improving economy. Fitch downgraded the long-term rating of the US to AA+ from AAA This is not good news for the dollar, but still: The U.S. was downgraded to AA in 2011, which caused the market to fall hard, but earnings and economic conditions were different at the time. This downgrade by Fitch is not fundamental as the economy is growing and profits are rising to service this debt. In terms of technical analysis, after a rally to the 1980 area, a correction in the format of a flag-like descending channel is forming, but at some point things don't go according to plan and price breaks the channel support, forming a consolidation and forming liquidity before further declines. Ahead of NonFarm Payrolls and Unemployment Rate publication, analysts are expecting bearish data, but based on earlier press releases, the numbers could be the opposite, which could provide new bullish potential for the dollar, and gold could fall to 1900. Support levels: 1933, 1930, 1927, 1912 Resistance levels: 1943, 1954 In priority I expect the price to fall to the lower support levels, but the price can break the situation if the expected fundamental data is confirmed. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
21