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XAGUSD - Textbook Break & RetestAnalysis: This setup is a lot like the gold one that we took earlier, so the analysis is pretty much the same. Price has been in an upwards trend for a while now, until recently where we've seen price reverse and start to head to the downside. In recent times we saw a huge bearish confluence form, which was a break of the upwards trendline that price had been respected. This showed us that the bears had the momentum to break the upwards trend and make a move to the downside, so this favours our bearish thesis. At the area of resistance we have marked out we can see that this is where the most recent lower high was formed. When this area was touched in the past we saw price form a big rejection and head to the downside. This move was also the move that broke the upwards trendline, so this is a very strong area of resistance and we're currently retesting this area. We expect that sellers will step in here and push price to the downside, which favours our idea. Another confluence we have to add to our bearish thesis is the 50% fib retracement level which is at our area of resistance. This fib retracement level is often respected and with this lining up with our area of resistance we have even more reason why we think it's going to hold and that this is where sellers will want to enter into the markets. We also have the retest of the previous upwards trendline. Often in trading we see support become resistance and resistance become support when the level is broken, so this is what we expect to see now. We expect that the upwards trendline will now act as resistance, favour our thesis. Technical wise we have a lot of confluences pointing to bearishness, especially from the area we are currently at. Looking at the fundamentals the USD is the strongest major currency currently, so we expect to see some bullishness come for the USD which would favour our setup. Overall a lot of confluences we pay attention to are pointing to more downside for silver which is why we have a short bias on this pair and with the news coming out today for the USD we could get the catalyst we need to see a continuation move to the downside. Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We any comments at all so thank you! Stay Safe - The JPI Team Disclaimer: This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
OANDA:XAGUSDShort
by jpeacockfx
22
XAUUSD - Are We Still Bearish?Analysis: Price has been in this upwards trend for a while now but in the last couple of months we've seen that change and price has started to reverse and head to the downside. In recent times price was able to break past this long term upwards trendline that we've seen be respected multiple times, which signals to us that the bears are taking control of the market. In this last week we've seen price pullback and start to look bullish on the lower timeframes, however on the higher timeframes we are still bearish and this move is just a healthy pullback before we see a continuation to the downside. We're currently coming to retest this previous upwards trendline for resistance and we expect that this will now hold as support often turns to resistance once broken. For more added confluence, taking the fib retracement tool from the most recent swing high to the swing low we see that the 38.2% fib retracement level is lining up with this upwards trendline and our area of resistance which we'll talk more about in a minute. Whilst the 38.2% fib retracement level is the weakest fib retracement level we still often see it hold and with this area lining up with other confluences, we have a strong feeling that this level will hold and that we will see the bears push price down further from this level. At this area we also have an area of resistance. We've seen this level get tested multiple times in the past for support and resistance so we expect that it will be respected as resistance again and we'll see price make a move to the downside. With the USD as well being the strongest major currency we see gold making a continuation move to the downside. With all of the technicals lining up together and the USD strength we are bearish on gold until stated otherwise and with the USD news that is coming out later today we could see the catalyst we need for the USD to gain more strength and incise the bulls to push the USD higher, which in turn would drag gold down. Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We any comments at all so thank you! Stay Safe - The JPI Team Disclaimer: This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
OANDA:XAUUSDShort
by jpeacockfx
10
USD BIG BUYS These charts are showing 10yr treasury notes, 10yr bonds notes, Dollar Index and EURUSD. MY analysis is showing that 10yr notes refused to make a higher high and 10yr bonds refused to make a lower low despite dollar index pushing lower just before friday close. This is signaling to me that this was just a pull back/retracement for a short continuation this coming week. Especially with EURUSD news coming out and all the bank issues going in. I think EUR is going to be the next one to take a hit somewhere. I can see price for EURUSD going all the way down to the 1.05200 level and possibly beyond but with news coming in we can see high manipulation.
by haqfx
XAUUSD Monthly Analysis and Possible RetracementsThe trend, by far, remains bearish! However, there are certain levels we might wanna keep track of, in order to always have a better idea of possible Gold targets. For now, we see a struggling bullish engulfing on the last daily candle on last Friday (09-02-2020) which might imply to the possible pending correction. In order to look for correction targets we stick our head back into monthly Fibonacci retracements targets and my previous analysis about XAUUSD bearish channel (related ideas). Now here are the highlights you might wanna keep track of: 1- No further downward movement unless we are through that supporting region around 1680. (I have said it multiple times and I will say it again) 2- We are through the latest possible lower trendline on daily timeframe so the most probable direction still remains bearish. (Broken at 1724) 3- The August monthly candle is a spectacular Marubozu indicating a further low. 4- FEDs intend to remain hawkish as a counter-measure for inflation hike. 5- Considering all these factors I am compelled to consider this daily engulfing as an attempt to ease out for the next few days in a form of the pending correction. Therefore, it important to know where this correction might be heading to and hence, we consult the monthly fibo retracement. 6- Unless we break out of 1748 (0.382 Fibo and Simltaneously upper line of our bearish channel), we are not talking about a possible bullish reversal. 7- There are chances that we might see that 1728-33 retested (considering we are no longer below the last months bottom at around 1709) Advice: If you are a day trader or a speculator please ignore this part of the idea. However, if you are a swing trader like me please consider not buying unless we are through 1748 and do not sell unless we see a proper bearish rejection candlestick on either daily timeframe or at least H4 somewhere between upcoming London and New York. Thank you :-) Happy trading and Happier profits :-)
FXOPEN:XAUUSDShort
by Uzi-Trades-Forex
2
Bought of U.S. Dollar for FED interest rate meeting!!!In this analysis, I bought U.SL Dollar because for the pressure of the U.S. economic, we hope fundamentally that U.S. Dollar is going to the recovery and we hope a bullish candlestick. Also to show you, I put 2 entry for buy order limit with a considerable SL with a good profit!!! Okay, today, we hope that U.S Dollar it's going to up for fundamentals about the interest rate. The first entry for buy order limit is in the $104.70 with the SL at $104.50 (20 pips) and take profit forecast of $105.34 (64 pips) The second entry for buyr oder limit is in the $104.54 with the SL at $104.40 (14 pips) and take profit forecast of $105.34 (79 pips) So, we hope that a big manipulation to liquidated long positon in the price market that amateurs put position to be liquidated and activated buy order limit that was putting below of the price market, that is my own strategy and fundamental to get benefit of the market. Now, I going to invest just 0.02 lots in the price entry!! Good luck!!! In the next days we are going to updated the analysis of this par, a long time that I do not analyze this par than better to trade Euros.
Long
by harisonhbn9718
1