GOLD BEARISH BIAS RIGHT NOW| SHORT
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GOLD pair is in the downtrend because previous week’s candle is red, while the price is clearly rising on the 2H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 2,347.028 because the pair is overbought due to its proximity to the upper BB band and a bearish correction is likely.
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Tecnhicalanalysis
CAD/JPY BULLS ARE STRONG HERE|LONG
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We are going long on the CAD/JPY with the target of 115.294 level, because the pair is oversold and will soon hit the support line below. We deduced the oversold condition from the price being near to the lower BB band. However, we should use low risk here because the 1W TF is red and gives us a counter-signal.
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CAD/CHF LONG FROM SUPPORT
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We are now examining the CAD/CHF pair and we can see that the pair is going down locally while also being in a downtrend on the 1W TF. But there is also a powerful signal from the BB lower band being nearby indicating that the pair is oversold so we can go long from the support line below and a target at 0.650 level.
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GBP/CHF BEARISH BIAS RIGHT NOW| SHORT
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GBP/CHF pair is trading in a local downtrend which know by looking at the previous 1W candle which is red. On the 1H timeframe the pair is going up. The pair is overbought because the price is close to the upper band of the BB indicator. So we are looking to sell the pair with the upper BB line acting as resistance. The next target is 1.130 area.
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GBP/AUD SELLERS WILL DOMINATE THE MARKET|SHORT
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GBP/AUD pair is in the uptrend because previous week’s candle is green, while the price is obviously rising on the 12H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 1.930 because the pair overbought due to its proximity to the upper BB band and a bearish correction is likely.
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EUR/JPY BULLS WILL DOMINATE THE MARKET|LONG
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Previous week’s red candle means that for us the EUR/JPY pair is in the downtrend. And the current movement leg was also down but the support line will be hit soon and lower BB band proximity will signal an oversold condition so we will go for a counter-trend long trade with the target being at 171.112.
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GBP/JPY SENDS CLEAR BEARISH SIGNALS|SHORT
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GBP-JPY uptrend evident from the last 1W green candle makes short trades more risky, but the current set-up targeting 202.762 area still presents a good opportunity for us to sell the pair because the resistance line is nearby and the BB upper band is close which indicates the overbought state of the GBP/JPY pair.
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USD/CHF BUYERS WILL DOMINATE THE MARKET|LONG
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USD/CHF pair is trading in a local downtrend which we know by looking at the previous 1W candle which is red. On the 1D timeframe the pair is going down too. The pair is oversold because the price is close to the lower band of the BB indicator. So we are looking to buy the pair with the lower BB line acting as support. The next target is 0.892 area.
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EUR/NZD SHORT FROM RESISTANCE
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The BB upper band is nearby so EUR-NZD is in the overbought territory. Thus, despite the uptrend on the 1W timeframe I think that we will see a bearish reaction from the resistance line above and a move down towards the target at around 1.835.
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BITCOIN BEST PLACE TO SELL FROM|SHORT
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We are targeting the 65,250 level area with our short trade on BITCOIN which is based on the fact that the pair is overbought on the BB band scale and is also approaching a resistance line above thus going us a good entry option.
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GBP/JPY BULLS ARE STRONG HERE|LONG
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We are now examining the GBP/JPY pair and we can see that the pair is going down locally while also being in a downtrend on the 1W TF. But there is also a powerful signal from the BB lower band being nearby indicating that the pair is oversold so we can go long from the support line below and a target at 202.738 level.
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USOIL BUYERS WILL DOMINATE THE MARKET|LONG
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USOIL is making a bearish pullback on the 1D TF and is nearing the support line below while we are generally bullish biased on the pair due to our previous 1W candle analysis, thus making a trend-following long a good option for us with the target being the 83.51 level.
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NZD/USD BULLISH BIAS RIGHT NOW| LONG
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We are going long on the NZD/USD with the target of 0.603 level, because the pair is oversold and will soon hit the support line below. We deduced the oversold condition from the price being near to the lower BB band.However, we should use low risk here because the 1W TF is red and gives us a counter-signal.
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GOLD SENDS CLEAR BULLISH SIGNALS|LONG
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GOLD is trending up which is evident from the green colour of the previous weekly candle. However, the price has locally plunged into the oversold territory. Which can be told from its proximity to the BB lower band. Which presents a great trend following opportunity for a long trade from the support line below towards the supply level of 2,419.373.
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EUR/CAD BEARS ARE GAINING STRENGTH|SHORT
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EUR/CAD pair is in the uptrend because previous week’s candle is green, while the price is obviously rising on the 1H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 1.495 because the pair overbought due to its proximity to the upper BB band and a bearish correction is likely.
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USOIL BEST PLACE TO SELL FROM|SHORT
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USOIL is making a bullish rebound on the 1H TF and is nearing the resistance line above while we are generally bearish biased on the pair due to our previous 1W candle analysis, thus making a trend-following short a good option for us with the target being the 76.54 level.
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EUR/USD SHORT FROM RESISTANCE
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Bearish trend on EUR/USD, defined by the red colour of the last week candle combined with the fact the pair is overbought based on the BB upper band proximity, makes me expect a bearish rebound from the resistance line above and a retest of the local target below at 1.082.
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GBP/CAD BEARS ARE STRONG HERE|SHORT
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Previous week’s green candle means that for us the GBP/CAD pair is in the uptrend. And the current movement leg was also up but the resistance line will be hit soon and upper BB band proximity will signal an overbought condition so we will go for a counter-trend short trade with the target being at 1.744.
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GOLD Will Go Lower From Resistance! Short!
Here is our detailed technical review for GOLD.
Time Frame: 12h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is testing a major horizontal structure 2,393.070.
Taking into consideration the structure & trend analysis, I believe that the market will reach 2,340.000 level soon.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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USD/JPY BULLS ARE STRONG HERE|LONG
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The BB lower band is nearby so USD/JPY is in the oversold territory. Thus, despite the downtrend on the 1W timeframe I think that we will see a bullish reaction from the support line below and a move up towards the target at around 155.675.
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CAD/CHF BULLS WILL DOMINATE THE MARKET|LONG
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CAD/CHF downtrend evident from the last 1W red candle makes longs trades more risky, but the current set-up targeting 0.652 area still presents a good opportunity for us to buy the pair because the support line is nearby and the BB lower band is close which indicates the oversold state of the CAD/CHF pair.
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CAD/CHF BEARS ARE GAINING STRENGTH|SHORT
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We are now examining the CAD/CHF pair and we can see that the pair is going up locally while also being in a uptrend on the 1W TF. But there is also a powerful signal from the BB upper band being nearby, indicating that the pair is overbought so we can go short from the resistance line above and a target at 0.642 level.
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GOLD SENDS CLEAR BEARISH SIGNALS|SHORT
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GOLD pair is in the downtrend because previous week’s candle is red, while the price is evidently rising on the 1H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 2,383.729 because the pair is overbought due to its proximity to the upper BB band and a bearish correction is likely.
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