XAUUSD Possible BreakoutThe pair is in a previous channel of support and resistance, last seen earlier this year. With the Bears dominating this market, Buyers are yet to make their move. If resistance indicated in ORANGE is broken, it is one step closer to gaining momentum and breaking recent resistance at 1322 and hopefully GOLD sees green again. If that fails to happen, the only direction is DOWN.
Noindicators
XAUUSD Possible BreakoutThis pair has reached the 1320 zone just as I predicted in previous post but went even further to the 1315 zone. Gold has tapped a strong support area at 1307 which has last happened at the start of January. If it breaks below the 1305 area and if the chances of a retest occurs, who knows where price is headed next.
AUDUSD wave analysisLooking at the larger time frames, The AUDUSD has made an ABC zigzag correction, and the trend down from that is here as the high, there are 5 waves down, with divergence between the 3rd and 5th waves on the 1H MACD, should this be the bottom, I am expecting a correction to the upside before looking for a longer term sell.
GBPUSD sellThis is only on the 1H chart, price has just recently finished an ABCD pattern, I'll be waiting for the price to break through the blue line, before selling, making sure I have a 1:1 risk reward ratio. Looking at the higher timeframes I think this pair is due to come down some more too. So if price breaks through the higher timeframe's resistance level, then I'll hold onto this position.
Long term Short on GBPUSDAs shown this pair recently bounced off a huge trendline here on the weekly chart. I'm expecting this channel to break to the downside. One profit target should be the lows as drawn with the red line, I'll open 2 trades when price is ready to fall, to keep one open until it shows signs of turning to the upside.
AUDUSD LONGSA weekly close above key monthly resistance last Friday above 0.7550 gives us projections of upside potential to weekly resistance at 0.7780. Statement is supported by Fibo extension level 161.8%, a weekly break and close of monthly resistance @ 0.7550 , bullish engulfing candle pattern. We are waiting for further price action.... a retest/consildation around 0.7550 , and longs will be in play :)