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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
Will Gold drop under 1500? (Long term view!!!)In this post, I will focus on an overview of Gold and what could happen in the long term. In the short term, everyone saw the support from 1680 and is aware of the possibility of a rebound... So... Looking at the weekly posted chart we can see that after the high above 2k back in spring, Gold has started to drop, putting in lower highs on our chart. After the touch of the long-term trend line in May, Gold reversed, but soon after, in June, has broken under and quickly dived to the 1680 important zone. In July we again have a rise, just to be completely erased by August price action. This whole dynamic gives me an indication that Gold could drop under 1680 and by this, it will also confirm an immense double top pattern that took two years to complete. That being said, I'm more inclined to a continuation to the downside when it comes to medium-term price evolution, and considering the measured target for the double top pattern, we can see Gold trading under 1500. In the short term, we can have a rally, but in my opinion, it will be short-lived and should be used as a selling opportunity for swing traders.
OANDA:XAUUSDShort
by Mihai_Iacob
38
EurUsd- Back to main ideaIn my yesterday's comment I said that EurUsd can rise towards 1.01 and, indeed, the pair made an intraday high at 1.0080. This rally was quickly reversed and now EurUsd is trading again near parity. Looking at the price action in the past week we see that although the pair seems to stabilize, bulls are unable to take control, and rallies are sold. From both technical and fundamental point of view, Usd is stronger than its counterpart and I expect a continuation of this aggressive downtrend. 1.01 remains resistance and rallies towards that zone should be sold. 0.97 is a good target for bears.
Short
by Mihai_Iacob
18