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Dlifestyletrader

Gold Sell - Breaking Through Neckline of HnSGold has ranged above the low of 1283 for the past 4 trading days. And last night, there was an attempt to break below the range which it did so base on the smaller timeframe from H4 onwards. The price made a strong pullback but it still failed to stand above the range or make a higher high. Thus in this case and with the head n shoulder formation, the price, today, is most likely to plunge. This daily forecast is also inlined with my weekly forecast.
FX:XAUUSDShort
by AlgoVenture
Gold - Weekly Forecast 1st - 5th AprilThe gold price has turned bearish again as it fell strongly and break below the bottom of a rising channel. The price also failed an attempt to rebound as it reaches near a 3-month demand zone, leaving a long upper shadow on last Friday. Based on the monthly closing candle, it has become obvious that the price has to dip even lower, possibly 1237 which is the neckline of the previous Bat pattern. For this week, wait for the price to pull back towards the H1 supply zone above 1300 to short again.
FX:XAUUSDShort
by AlgoVenture
Dollar - Weekly Forecast 1st - 5th AprilThe dollar has turned bullish again last week, not for its strong fundamental reasons, but the weakening fundamental outlook of other major currencies. The month of March has ended and the dollar managed to close with a bullish candle and above 97. This still shows that the dollar been the one with the highest interest rate will still fundamentally be stronger. The price is currently still seen somewhat resisted in the current supply zone. And based on the H4 chart, the price has gained 2 waves and I suspect there are strong selling orders above 97.2. This week, the dollar is likely to range awhile and retrace lower towards the current demand zone at 96.5. And eventually, the dollar is still expected to climb again and retest the 22-month supply zone at 97.6.
TVC:DXY
by AlgoVenture
USDCHF Long - Price may Climb Amid Weak SellingThe price consolidates for the 3rd day as the price continues to retrace. There hasn't been any significant selling and the price has yet to reach any strong supply zone. Therefore, the price is expected to retrace further and climb towards the supply zone near 1.00 which overlaps with a previously broken rising trendline. For intraday trade, traders may consider to long around 0.9930 but bear in mind that dollar is fundamentally weaker after dovish FOMC last week.
Long
by AlgoVenture
SPX500 and NAS100 - Weekly Forecast 25th - 29th MarchStill remember when was it that we see the Dow, Nasdaq and S&P break through the ground? Since then, the price has almost recovered all of the losses in a very gradual and staggering fashion. But last Friday, we saw the biggest drop in 5-months based on a week. It also showed a bearish engulfing candle within a supply zone. And whatever that's just explained, it applies for the Dow Jones, the Nasdaq and S&P500. It may yet to be a reversal but highly possibly there's gonna be more bearish trend coming soon.
OANDA:SPX500USDShort
by AlgoVenture
EURUSD - Weekly Forecast 25th - 29th MarchThe EURUSD didn't come out quite well with what we had expected in our weekly forecast as it surged much higher and broke above a 2-month falling channel for the first time. The price, however, retraced a lot stronger than expected which we believed have stopped out many buyers along the way. And since the price did not rebound before the week ended, there's likely to be very little buy orders left and that gave us a good reason that the institution may come in very soon to buy again. Therefore in this week, we expect the price to hover around the demand zone first and eventually climb higher but gradually.
Long
by AlgoVenture
EURUSD Short - Supply Zone and Falling TrendlineEURUSD moved quite and not quite what we've expected based on our weekly forecast. The price broke higher but without some kind of retracement which we thought it would since it failed to break 1.133 last week. Since the price climbed early, it is about to face strong resistance in a supply zone coupled with a falling trendline. Let's wait patiently for the price to reach 1.136 or beyond and look for reversal signal to short.
Short
by AlgoVenture
Dollar - Weekly Forecast 18th - 22nd MarchThe dollar fell for 3 consecutive days before it started to consolidate. An inside bar was formed after Thursday but the price failed to break below the inside bar after as it continued to fall after Thursday's retracement. The intention of the price still points toward further depreciation but since it failed to break 96.4, there's a good chance that the price may retrace upward at first. If the price climbs in the earlier part of this week, the next key level to look out for is at 97 supply zone. If the price falls first and breaks below the inside bar, we can wait for it to retrace after the break and expect the price to fall towards the bottom of the ascending triangle at 96.
TVC:DXYShort
by AlgoVenture