Nas100- Drop under 14k after correction?On 13 September I wrote that Nas100 could lose trend line support and, as long as the 15500 zone is intact as resistance, there is a high chance for the index to drop to 14700-14800 zone support.
As we can see from the chart, after a new test of the resistance zone on 15 September, the index started to drop again and, two days ago we had a strong break under the trend line and a dive directly to horizontal support.
At this moment, a correction is probable, but, in my opinion, this rise will be short-lived and should be used as an opportunity for short trades.
In conclusion, rallies above 15k should be sold and the medium-term target for such a trade could be in the 14k zone and slightly under.
Signalprovider
Platinum- New test of 1k zone?Since the beginning of July, Platinum has been trading in a 100 USD range, between 900 and 1000 USD per ounce (more or less).
The start of September found the price at the bottom of this range and the price has started to rise again.
A first leg up followed and after XptUsd reached 950, a correction started.
Yesterday we had a reversal in price from interim support around 927 and a new leg up could be next.
Bulls are favored as long as the price is above yesterday's low in terms of daily close and, swing traders who target the upper boundary of the race could achieve an impressive 1:3 risk: reward.
As in the case of Silver and Gold, I'm also bullish on Platinum.
Gold remains bullish in spite yesterday's reversalIn terms of daily closing, yesterday was an uneventful day for Gold.
After an initial rise, bulls were unable to hold gains and at the end of New York session, XauUsd reversed to the day's open.
Although we have this reversal from interim 1950 zone resistance, the structure remains bullish and I expect gains at this end of the week.
Technically, bulls need to keep the price above 1915 and preferably above the 1923-1924 zone.
In conclusion, in spite of yesterday's reversal, I'm looking to buy on dips with a moderate target around 1950.
As explained in my past analyses, a break above 1950 would expose 1980.
DXY looks tiredI've been bullish DXY since the end of July after we had the confirmation that the break down was a false one and indicated the 105.50 zone as the potential target in the medium term.
The target was hit last week and now the index is consolidating and a correction could follow.
However, the trend remains up and a new spike above the recent high is possible.
Confirmation for a drop comes with a break under the rising wedge support in which case 104.50 could be bears' target.
XAUUSD BUY BEFORE THE NEWSDear Ziilllaatraders,
As we can see Gold has been very bullish due to inflation fears. These fears are not yet calmed by the the FED. Today the FED is going to speak, what do you guys think will happen? Ziilllaatrades is very bullish for gold due to no future interest hikes and rising inflation.
Greetings,
Ziilllaatrades
Gold- Will FED be the trigger for new leg up?Yesterday was a very quiet day for Gold, with the price fluctuating in a tight range.
With FED expected to make no move on rates, the more important is the press conference after, which could trigger a new rise for Gold.
Technically, things have been unchanged since yesterday, with a high probability of a bottom in place.
As explained yesterday, a clear break above the 1935 zone would expose the 1980 and 1953 recent high as interim resistance.
I remain bullish as long as the 1910-1915 zone is intact.
EurUsd could correct higherSince mid-July, EurUsd has started to drop and the pair lost 600 pips since then in a clear down trend.
However, after touching the end of May low support, the pair started to reverse and the last 2 daily candles indicate the possibility of reversal.
Keep in mind though that we are now in the zone of a strong resistance and only a break above this zone would confirm continuation to the upside.
In such an instance, traders could target 1.0770 zone
Gold could continue its ascentAfter the Pin Bar candle from last week, which very well could be an indication for a bottom, Gold also started the week with a green cand, testing again the 1930-1935 zone resistance that I've spoken about in several locations last week.
Now XauUsd is in a small correction and a genuine up break could follow.
A clear break above this zone would expose the next important resistance zone at 1980
A drop under 1915 would negate this scenario.
XAUUSD Outlook 18/9/23 reversals incoming Whats up gold gang! Im back from my trip to Prague .. what a beautiful city!!
Quick one for you i know you've been waiting!!
Im bullish on the day currently as price is moving slowly due to fomc week and no news today
Price has reacted nicely from the level there and is moving up to fill the range.
Im still bearish on the HTF (structure is still in place with higher lows lower lows) so im looking for price to move up here before selling off at the reversal area marked on the chart
OHLC methodology
alternatively .. a strong close and retest will be nice sells there to fill the range
Looking forward to getting back into it gang .. lets go!!
follow along if you're not already .. its gonna be a great week
your mate Tommy XAU
EurAud- Top in place?Recently, EurAud reached 1.7 figure, and after some consolidation in that zone, the pair started to drop.
This drop stopped around 1.6650 and although we have 3 reversals from this horizontal level, EurAud has started to print lower highs on our chart.
This could be an indication that more losses could come and the pair could drop under this support.
A break under this level could accelerate losses toward important 1.63 support
On the other hand, a break back above 1.68 would put the recent 1.7 high in focus
Nas100 could lose supportSo far, this year has been an incredible one for Nas100, with the index rising more than 50%.
However, after the mid-July top, Nas100 has started to roll back down and we already have 4 touches of support zones in only 6 weeks.
As we know, the more a support or resistance is touched the weaker it becomes, and, in my opinion, we are close to a down break.
A daily close under 15100 could be considered a valid break and, in this instance, correction from the top could continue with around 1k points as a target.
Nas100 back above 15600 would negate this bearish scenario
EurUsd could resume its down moveOn 8 September I wrote that a relief rally could be next for EurUsd and this should be considered an opportunity for traders to sell rallies around resistance and join the downtrend at better prices.
Indeed the pair rose and reversed exactly from under 1.0780 resistance.
The recent rise is corrective in nature and formed a flag pattern and we could see a new leg down.
I remain bearish under 1.08 and my target is the 1.0550 zone with interim support at the recent low.
UsdJpy could drop and test 145 supportYesterday, UsdJpy opened with a gap of almost 100 pips.
After a low at 146, the pair started to rise, and looks like it wants to fill this gap.
Last week of trading UsdJpy consolidated and considering yesterday's open, a correction could be next.
In my opinion, rallies around 147.50 should be sold and, considering a stop loss above the recent high, a 1:3 risk:reward trade could be achieved if the pair drops to support
Gold under a cluster of resistancesIn yesterday's post, I said that my bias for Gold is still bullish, however, confirmation is needed to consider a higher low in place.
Yesterday, after a double touch of 1930 short-term resistance, XauUsd consolidated and stayed in the middle of the newly formed range.
As we can see the the posted chart, we are still under resistance and, in fact, the price is under a very important level between 1930 and 1935, given by the falling trend line and 2 important horizontal levels.
A break above this level could trigger a lot of stop losses and we could have acceleration to 1980 in such an instance.
On the other hand, a break under the recent low could lead to further losses toward the 1870 low with interim support at the 1900 zone.
GBP/AUD LONG TRADE IDEAHello fellow traders!
GBP/AUD is trading today along the rising support line, which the pair has been following since the beginning of the year.
Previously, the pair failed to break the line and consolidate below it.
This week, I believe we will see a further rise from the line.
I recommend to place a long position from the price of 1.94450.
Stop loss at 1.93650.
Intermediate target: 1.96000
Main target: 1.98200
Risk:reward ratio 4.7
Gold- Two important levels for bullsAfter the recent low under 1920, Gold has started to consolidate in a 100 pips range.
Although Friday's close is bearish, XauUsd recovered strongly on the Asian Session last night and is trading now towards the upper boundary of the range.
A break above this level would be the first indication of reversal with a clear confirmation if Gold is breaking and close back above 1935.
In such an instance we could consider the recent low as a higher low and expect continuation to the upside at 1980 resistance.
EurJpy could lose supportSince the end of February low under 140, EurJpy rose strongly, more than 2000 pips and almost touching 160 important figure.
In August, the pair consolidated, and this consolidation could very well be distribution.
Now the pair is trading under 157 zone support and a daily close under this support could lead to further losses.
As long as the 158.70 high is intact I'm looking to sell rallies with a target at 154 support.
In the medium term, however, the pair could drop even to important 151.50 support.
CadJpy could drop to support levelSince mid-July, CadJpy has been trading inside an ascending triangle with price congestion in the last 3 weeks.
Ascending triangles are usually continuation patterns and considering the up trend of the pair, this could be the case also now.
However, a break under the support line could lead to a steep dive to important support at 102.
In my opinion, even if we have a break above the triangle's resistance, this will be a false one.
In conclusion, I'm looking to sell, either after the false break (if will be the case), or after the break of the ascending trend line down break.
GbpJpy- More than 500 pips selling opportunity2023 was a very strong year for GbpJpy, with the pair rising more than 3k pips, exceeding my target of 180 as explained in both my 17th of January 2022 and 20th of April 2022 long-term analysis.
Although the pair remains in an up trend, for a month now, GbpJpy has failed on 186, unable to make a new high, leaving long up-tailed weekly candles.
This suggests that a top could be in place and a much-needed correction could follow.
With this in mind, I will look to sell rallies for a medium-term trade with a 500 pips target.
A new high would negate my outlook.
My previous long-term analyses for GbpJpy:
Gold- Potential higher lowAs you know, I was bullish Gold all week and also bought around 1930.
Unfortunately, my buy trade was closed with a low when XauUsd dropped under 1920 2 days ago.
At this moment, I'm out with no trade running, but my bullish bias remains.
However, for opening a long trade I need more confirmation and this comes with a break back above 1935, which at this moment is confluence resistance given by the falling trend line and the horizontal level.
In conclusion, at this moment there is a potential higher low in place, and confirmation for this comes with a break above 1935.
Also, a positive day close will give us a Morning Star candle formation on the daily chart and a week close above 1940 will give us a Pin Bar on the weekly chart.
So, for now, wait and see is my approach.
EurUsd- I'm looking to sell ralliesSince mid-July, EurUsd has entered a downtrend. The confirmation for this came with a break under the one-year-long up trend line in mid-August. After the confirmation of resistance at 1.0930 at the beginning of September, the pair made a new 250 pips leg down and stopped in support.
Now EurUsd is trading at 1.0715 and is consolidating.
A correction to the upside could follow and this could offer bears the opportunity to sell at better prices.
In conclusion, in my opinion, traders should look for selling opportunities around 1.08 for a 1.05 target.
Only a break back above 1.0950 would shift my outlook to bullish
XAUUSD BUY, Trend RefersalDear Ziilllaatraders,
We can see a trend reversal happening. Today we saw a big consolidation today. We saw strong upward and downward movement in matter of minutes. This suggest a battle between sellers and buyers in this zone. We suggest that we are going to see a increase in price due to liquidations.
Feel free to ask any questions.
Greetings,
Ziilllaatrades
Gold has dropped to my buy zone. Now what?In yesterday's comment, I wrote that although XauUsd could drop to the 1930 zone, I will remain bullish and buy the dip, and I did.
At the time of writing my trade is floating with 30 to 50 pips loss and, although I would have wanted a straight-up arrow after my buying, I'm still bullish.
As we can see from the chart, after Gold dropped under 1900, a 700 pips leg up followed and after touching the falling trend line resistance started in May, began to drop again.
So far, the drop from the recent top could be only a correction, and, with the price trading exactly in a confluence of supports given by the 50% Fibo and the horizontal level a reversal is probable
With this in mind, I will hold my trade for now and expect reversal from this point with a clear confirmation of reversal to the upside above 1940. In this case, a new leg up is very probable and I will aim for 1980 resistance.
On the other hand, a drop under this level would put a pause on my bullish scenario.
Happy trading!
Mihai Iacob
