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USD/CAD Fibonacci Retracements Analysis - TP 1.3830+I have used Fibonacci retracement in this chart to identify the possible further moves of USD/CAD. It's an uptrend. In the beginning, there is a descending triangle. There is a descending triangle at the beginning of the Fibonacci retracement ( 78.60 percent around). And the next construction of the trend before the brokedown is a parallel trendline. After the breakdown, the trend created strong support and slowly started to climb and reached the retracement level of 1.3389 . It will rise to the TP1 ( 1.3630 ). which will react like the resistance. After that, the next target will be TP2 ( 1.3830 ), which is the 50 percent retracement level of the Fibonacci retracement. It has started to rise from a low point, and it will hit a level parallel to a higher point.
by forextidings
2
The Downtrend of the EUR/USD Will Begin From HEREIn this chart, resistance & support shown by using a box. Redline between the chart is a hurdle. By following the box, we can say that there will be a downtrend. Dynamic resistance shows that if the trend crosses the hurdle, there will be a downtrend. But if it will not intersect each other and will take a "V" shape there will be an uptrend to the 1.1770 - 1.1800 . It's favorable to buy at the points where candles touch the support line and to sell at the points where candles touch the resistance line. TARGETS: Short term investors: 1.1468 The day traders: 1.1626 - 1.1566
by forextidings
GOLD Symmetrical triangle breakout target $2000+The gold spot made a symmetrical triangle and broke upward. And it was following the downtrend line channel from the beginning of September. As you can see, the breakout candle has closed above. I have drawn a dynamic parallel trendline to find out the last point of the rally. Long-term investors, please keep their eyes on A, B, C, D, E, F, and G. Wherein F & G are the next targets. And day traders can take entry for $1990 - $2014+ levels. As I described, gold tried and failed to break away from the bullish "symmetrical triangle," suggesting a continuation of the uptrend that preceded it looms. Kindly note XAUUSD trend will change after the breakdown of D.
OANDA:XAUUSDLong
by forextidings
3
USD/JPY's futhere movesIn the previous week USD/JPY gained +1.261 points. From the last candle there will be an uptrend to the parallel channel and then price will start to fall again. Here, the hurdle is 106.06 level. If candles consecutively crosses the dynamic resistance(DR) there will be an uptrend and price will increase to the 106.76 or above but if candles continuously move downwards under the DR or parallel channel, In this situation trend will be continue to move in the same direction and it will decrease to the control price or more. If trend crosses the hurdle there will be the first target of 105.86 level and second target will be 105.60 level. If you pay attention to the whole trend of this chart you will get to know that there is the extreme fall in trend from the point which shown by the blue arrow which indicates the overbought and volume spike. and you can see, every time when the tail crosses dynamic resistance, trend decreases. and every time when the candle touches a support trendline, trend moves upside. By crossing the support trendline, It makes a major failure and it continuously decreases, and makes an excess, after that it again started to move upwards.
Short
by forextidings
GBP/USD Trend Analysis based on Elliott Wave theory.According to the chart above, GBP/USD keeps moving upward nonstop. But it rallies pausing at reversal points (strong resistance) for a few days or weeks. At present, it's again at a strong resistance line. Will it uptrend over here? Can British Pound / U.S. Dollar start a downtrend? As per the Elliot wave theory, GBPUSD can run for 1.34450 level to complete the fifth wave. You can take this level as a target. We may see corrective waves (A, B, & C) ahead. Hence, be ready for the targets 1.33200 and 1.29800 . Don't forget to keep eyes on Stoch RSI crossing to take a new entry.
by forextidings