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EurUsd- Best place to sell and join the strong bear moveA few days ago I've written that, in order to a deeper correction to 1.03 horizontal important resistance, EurUsd needs to maintain 1.01 intact. The CPI data shattered this level of support and the single currency dropped again under parity. After a local low at 0.9950, EurUsd is still struggling to regain this important figure, but, in my opinion, will fail. That being said, a spike above parity should be considered a good opportunity to join the bears and the resistance band is between 1.0050 and 1.01. Also, a sell around this zone can have a strong R: R of 1:3 considering a stop loss above the recent high and a take profit of 0.97. Best Regards! Mihai Iacob
Short
by Mihai_Iacob
23
EurUsd- A break under 1.01 would put bears in control againFrom both fundamental and technical perspectives, EurUsd is bearish, but that doesn't mean that the pair should fall continuously and, as I draw attention to in my previous posts, a relief rally is probable from under parity. Yesterday this short squeeze rally brought the pair above the important 1.01 resistance and we have an intraday high at 1.02. Although I don't rule out a new high above 1.02, gains should be very well capped around 1.03 resistance in this case and EurUsd should resume its downwards trajectory. On the other hand, a drop and daily close under 1.01 would suggest that the correction is over and 1.02 is probably the top. In both scenarios, in my opinion, EurUsd will fall back under parity and most probably will make a new low by year's end.
Short
by Mihai_Iacob
2
Gold- Is this correction over?In my yesterday's comment I said that, in my opinion, the rise from 1690 support is just a correction, not the start of a new bull leg and my opinion remains unchanged. This correction has continued yersterday and as I expected, a spike above 1730 took place. However, looking at the posted chart we can clearly see that the structure lacks impulse and is overlapping suggesting that a reversal is imminent. A first indication that the correction is over comes with a break under short term trend line with further contirmation with a drop under yesterday's low. I'm looking to sell Gold
OANDA:XAUUSDShort
by Mihai_Iacob
4
A break is looming. EurAud can rise above 1.5On the 29th of August, I've written that EurAud can rise following the false break and the 1.47 zone could be the bulls' target. This target was reached last week and a correction followed. As we can see from the posted chart, this correction stopped exactly in support, and yesterday's reversal is marked by a strong bullish engulfing. At this moment there is a high probability of an up break with a target above the 1.5 zone. Buy dips against yesterday's low can be a good strategy
Long
by Mihai_Iacob
12
EurUsd- Very steep falling wedge, short squeeze can followThe trend for eurusd is undoubtedly short, however, starting with the first drop under parity in mid-July, the pair lacks real continuation to the downside and lows are marginal with the yesterday's one being a false break under support. Looking at the chart we can see that the falling wedge pattern is very steep and a short squeeze at this moment is highly probable A new rise above parity can activate a lot of stop losses and the pair can accelerate to the upside The target for the falling wedge pattern is 1.03 and interim resistance is at 1.01
Long
by Mihai_Iacob
28
Sell rallies is my strategyAs almost everyone has anticipated, Gold reversed from 1680-1690 zone support and now is trading 200 pips above this important zone. However, in my opinion, this is not a reversal of the leg down from above 1800 started in mid-August, but just a correction. Looking at the posted chart we can see that above 1720 is a strong confluence resistance given by the horizontal old support and the falling trend line and here traders shoul look for selling opportunities. Only a daily close above 1730 would change this mid-term bearish outlook. Best regards Mihai Iacob
OANDA:XAUUSDShort
by Mihai_Iacob
33
Will WTI Oil drop under 70?Since the double top marked by March and June's highs above 120, the price of Oil has started to fall and found support under 90 and under the neckline of the pattern. Last week we have a false break above this neckline reversed with a strong bearish engulfing and Oil is trading again near 88 support (also an old resistance from Oct and Nov 2021) The pressure seems to be on the downside and a clear break of support would confirm this outlook. In such an instance we can have a continuation to the downside and a drop to 70 important horizontal support and also the measured target for the double top.
FOREXCOM:USOILShort
by Mihai_Iacob
6
UNI Uniswap Price PredictionGrayscale expressed concerns over the potential impact on the Ethereum Merge, especially on tokens that run natively on Ethereum: The Merge may lead to a fork that might have unexpected and unfavorable outcomes and a scenario where stablecoins and tokens locked in smart contracts might not be redeemable. Token and stablecoin holders might panic and start liquidating their holdings. In this context, price target for UNI Uniswap is $3.55. Looking forward to read your opinion about it.
Short
by TopgOptions
1