GBPUSD: more BUY, than SELLAnd so, the Pound is squeezed between 1.37405 - 1.40040 (a trading zone that is located within another, larger range). The price within the indicated ranges on the chart can move as you like (especially since the price is not now located at any of the boundaries of these ranges). Nevertheless, the instrument is locally more prone to growth than to a fall (as long as the level of 1.37405 is not touched again).
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GOLD-SILVER
EURUSD: calm before the stormAnd so, there is every likelihood that the instrument would carry on to consolidate in the 1.17530 - 1.18025 zone. However, fixing the price above 1.18025 (which could potentially realized) will strengthen buyers and push the Euro upwards.
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GOLD: a big fall is unlikelyAnd so, Friday's pullback in gold does not benefit the buyer, naturally. But a fatal fall of the instrument is unlikely. The price is supposed to be in the range of 1769.045 - 1794.835 (not lower) for some time.
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USDCHF: approach to 0.92345And so, further growth of the currency pair will be difficult when approaching the high of July this year (~ 0.92345), where strong resistance is located. In general, the currency demonstrates positive dynamics and technical analysis suggests that buyers do not intend to ease the onslaught.
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GOLD: test of strengthAnd so, at the end of this week, the price managed to go beyond the level of 1794.835. Will the instrument be able to fix above this level... Nevertheless, it is assumed that the price would still remain in the range of 1794.835 - 1812.325.
Remember, there is no place for luck in trading - only strategy!
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XAUUSD H4 | Market Outlook- Gold prices edged higher on Thursday but remain below key resistance levels. The yellow metal was able to remain buoyed as the dollar dropped and the Euro rallied following the ECB decision. The key item was Lagarde arguing to the market that a decision to slow the pace of asset buying under the institution’s pandemic emergency program didn’t amount to tapering.
Technical View
- The main trend is up according to the daily swing chart. However, momentum has shifted to the downside. A trade through 1836 will signal a resumption of the uptrend. A move through 1781 will change the main trend to down.
- Short-term momentum has reversed and turned positive and generated a crossover buy signal. Medium-term momentum has turned negative!
GBPUSD: at a crossroadsAnd so, the instrument is located between the levels 1.42100 - 1.35690, which, respectively, are the key lines of resistance and support. The medium-term movement of the GBPUSD depends on these levels. At the current stage, there is a suspicion of the formation of a "triangle". Most likely, the price will be within the limits of this (possible) formation. In another variant, it is also probable that the price will break out of these boundaries today and go to the level of 1.40040.
Remember, there is no place for luck in trading - only strategy!
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EURUSD: target for FridayAnd so, on Thursday the Euro demonstrated the protection of the level of 1.18025, which strengthened the hopes of buyers not to close the instrument in the red zone at the end of this week. In this regard, the target for Friday is the level 1.18595.
Remember, there is no place for luck in trading - only strategy!
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GOLD: test 1769 And so, GOLD would test 1769, there is strong support there, the sellers will be stopped at this level. To continue the upward trend, the full protection of the level 1769 is required. Breaking down of this level will not have a good effect on purchases.
Remember, there is no place for luck in trading - only strategy!
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EURUSD: on the line of defenseAnd so, the Euro, as expected, retreated to the 1-st support line at 1.18025. Sales here have been stopped, but it is unlikely that they can be stopped at all. If in the very near future the price does not rebound from this support, then the 2-nd line of defense for the Euro will be 1.17530. Consolidation at the 1.18025 level is likely to lead to a fall as well.
Remember, there is no place for luck in trading - only strategy!
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GOLD: tense situationAnd so, gold is making attempts at stubborn resistance at the level of 1794.835 after the price break down. In case of failure, the instrument will have to go down to the level of 1769.045. If gold can strengthen at current levels, the next mark is 1812.325.
For further growth, the instrument needs to be fixed at the level of 1830.495.
Remember, there is no place for luck in trading - only strategy!
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USDCAD: launch upAnd so, given the strength of the US dollar at the moment, as well as the fact that oil prices are likely to decline in the near future, the Canadian will weaken. The 1.26320 level is a good starting point upwards. The first expected target is located at the level of 1.27339, then, potentially, nothing should prevent the price from reaching 1.284460.
Remember, there is no place for luck in trading - only strategy!
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GBPUSD: model "triangle"And so, apparently the currency pair is at the stage of the formation of the "triangle" model. The GBPUSD is near the support level 1.37405, but it is hardly worth expecting protection from buyers here. Therefore, the price expects the level of 1.35690.
Remember, there is no place for luck in trading - only strategy!
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CADJPY: IS IT TIME FOR BEARISH BIAS/TEMPORARY CORRECTION AHEAD?Hello Traders, here's your free outlook for CADJPY! Don't forget to smash the LIKES, COMMENT, and FOLLOW button to support the channel :) !
CADJPY already impulsively rejected multiple rejection area. Recently, CADJPY has broken the lower trendline of rising wedge pattern. The momentum indicator is also pointing downward in the neutral area, indicating that CADJPY has the possibility to continue moving downward to the target area.
The roadmap will be invalid after exceeding the resistance/target area.
DISCLAIMER:
This is only an outlook, not a recommedation to buy or sell CADJPY.
GOLD: it is too early to celebrate victoryAnd so, all in favor of buyers, but until the level of 1830.495 is overcome, it is too early to celebrate victory. The main support levels are 1812.325 and 1794.835 (where the price can potentially fall). It is expected that the price will be exactly on these levels in the near future.
Remember, there is no place for luck in trading - only strategy!
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BTCUSD: BUY-priorityAnd so, the coin continues to confidently fix above the level of 47844.60. At the moment, the level of 52495.95 (1-st resistance level) is being tested for strength. Further rapid rise in prices is doubtful. A slight pullback is expected, and then nothing should prevent the level from reaching 58326.25. While the price is in the range 47844.60 - 52495.95, the instrument is in BUY-priority.
Remember, there is no place for luck in trading - only strategy!
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GOLD: next stop - 1865.695And so, the bullish sentiment remains for GOLD, but in the near future the price range will be the zone 1830.495 - 1812.325 (possibly expanding the range to 1794.835).
The next expected target is 1865.695.
Remember, there is no place for luck in trading - only strategy!
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EURGBP: on the way toward successAnd so, for the expected hike up EURGBP, the price needs to overcome the level of 0.85830. Further, the main resistance will be the downtrend line and the level of 0.86400. In case of successful breaking through of all the indicated zones, the price will undoubtedly rush to 0.87120 and higher.
Remember, there is no place for luck in trading - only strategy!
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Brent: barrel for 69.95$And so, after another price increase to the SELL-zone (price range ~ 72.80-73.65), the instrument pushed off. The previous rate is maintained, and it is expected (during the next week) that the price would approach at the first support level at 69.95.
Remember, there is no place for luck in trading - only strategy!
Thanks for the likes and comments.