EURUSD Possible Up correctionEURUSD has reached the psychological level of 1.0500 and, on the 1-hour timeframe, has formed a double bottom pattern, suggesting a potential slowdown in selling pressure. The price is currently moving sideways above this level, indicating possible consolidation. Notably, approximately a year ago, the price surged from this support zone, identifying it as a demand zone. With the DXY (U.S. Dollar Index) reaching a strong resistance zone, there's potential for a reaction that could lead EURUSD to pull back toward the downward trendline. The target is the resistance zone around 1.0635
Foressignals
Gold is under downward pressure because the USD is at a higlevelGold prices at the beginning of the trading session on March 26 (US time) increased again after a deep decline last week, due to the slight weakening of the USD. However, according to analysts, in reality, the strength of the USD is at a high level, causing gold to be under a lot of downward pressure, posing many risks.
Specifically, senior market analyst Lukman Otunuga of FXTM said that after rising to an all-time high last week, gold prices are under a lot of pressure and will likely decrease in the near future. due to the increasing strength of the USD.
CEO Marc Chandler of Bannockburn Global Forex also said that the USD is increasing in strength, along with the increase in bond yields, which means gold prices will decrease.
Similarly, VR Metals/Resource Letter expert Mark Leibovit predicts that USD strength will push gold lower in the next few days.
Meanwhile, market strategist Colin Cieszynski at SIA Wealth Management gave a neutral view on gold prices. According to this expert, gold has had great fluctuations recently and it is likely that this precious metal will consolidate in the coming days.
GoldViewFX - STEP2 - HOW TO TRADE BLUE PRINT ZOOMED INThis is a follow up post from the previous post (SEE RELATED IDEAS POST BELOW) on zooming out to identify historical ranges and moving across the levels to the current range.
This post now zooms into the current range, with the historical range highlighted. We then draw our Goldturn support and resistance levels and are now able to use EMA5 indicator to trade these levels. We also add other analysis and indicators alongside this to further strengthen our move.
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GBPCHF Technical Analysis
⏳ Forex
💎 GBPCHF has got rejected several times from a significant resistance. It has also formed an Ascending Triangle which is expected to break below the Support and goes lower.
🏁 Short & Medium Term
💵 Invest Only 2% of your Portfolio
🎳 Entry at market or 1.27600
☕️ TP1 1.26020
🍺 TP2 1.24500
🍻 TP3 ________
🍾 TP4 ________
🍷 TP5 ________
🍸 TP6 ________
🍹 TP7 ________
🎁 TP8 ________
🚫 SL 1.28200
Good Luck 🎲
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GBP USD - Is in Falling Wedge! Hello Fam!
GBPUSD has held the horizontal support and formed a falling wedge pattern, we can long when the pattern is broken and confirmed.
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USDJPY Trade In Falling WedgeUSDJPY is trading in a falling wedge pattern. As price is trading in a narrow range soon, we will see price breakout from a falling wedge in USDJPY. USDJPY is trading below its support 1, so we might see a downside in USDJPY and the first target for downside will be the support line of the falling wedge and the second target will be support 2. If the price breaks out on the upside, we have resistance 1 at the target price for USDJPY.
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