DXY, Return and start growthDaily: The upward Falling Wedge pattern is successfully broken and starts a short-term growth. We also see a very strong positive divergence .
Upcoming targets: 105.650, 106.850 and 107.700
In the weekly time, a Pinbar candle has been formed, which can start a very strong upward trend. Hawkish Powell's words will also make the upward trend stronger.
So next week, we will see good growth.
Good luck.
Usdidx
BTCUSD, Up or down? lookBitcoin seems to be moving in an almost neutral channel (placed in a larger descending channel). The most important resistance range is 18100 to 18580 . If it succeeds in breaking this resistance, it will move towards the ceiling of the channel (21500) . It is possible that by touching this resistance, selling pressure will increase and move towards the bottom of the channel (14800) . So keep your eyes and focus on this resistance, because it will determine the movement of the coming days and weeks.
XAUUSD, Short term trend and targetWith the continuation of the downward trend today, a double top has been formed, which can reduce the price to the 1740 zone. The short-term target for a few days is 1740 . Also, during several attempts, he could not succeed in breaking the MA of 200.
You can see my past analysis in my profile for more reasons why gold prices are bearish.
XAUUSD, Sell and path aheadThe market has come to the conclusion that the level of 1800 to 1810 is a very strong and important resistance. Because after reaching this range several times, it has faced selling pressure.
1. It has probably completed wave B and will move towards wave C (1727 to 1734).
2. It has reached the corner of the drawn triangle and since it failed to register a higher ceiling, we expect it to break the triangle downwards and start a big fall.
3. In the short term, it is necessary to have a correction, because all indicators and oscillators and other fundamental and technical indicators are at the highest level and need to be corrected.
4. A shock may enter the market in the coming week and everyone will be surprised. According to the available data and forecasts, it is possible that the CPI will appear higher than expected (which will cause a downward shock) and as a result the Federal Reserve will be forced to raise the interest rate again by 0.75%. So according to NFP and PPI data (and possibly CPI), it is still too early for the Federal Reserve to have a plan to reduce the pace of interest rates.
Important: According to the fundamental data, the price of gold is very high and should have a deep decline.
XAUUSD, where is it located? where is going? look4 hour analysis
Wave 5 has ended at 1810 . It is currently moving towards corrective wave A . Wave A is likely to continue until the 1727 . Then B wave will rise up to 1780 (formation of ceiling head and shoulders pattern). And wave C will continue until the range of 1680 .
It seems that it is currently in a bearish flag pattern , which will reduce the price to 1727 .
Personal opinion: In the short term, it is generally correcting and should not be bought for now.
XAUUSD Stop rally and Start of price correctionIt seems that the gold rally is over and should prepare for a major correction to the 1706 .
Among the important reasons for falling:
In this analysis, we see that a harmonic pattern (butterfly) has been formed, which is a strong bearish pattern and will cause a sharp drop in price.
After the price met the important and sensitive resistance of 1808 to 1810 , it faced a negative reaction and sellers appeared. This range is also an upward trend line, which is considered a strong resistance.
We also see a very strong negative divergence that can push the price down.
The dollar index is also in a very strong and important support range, which has raised expectations for a good growth.
We expect the price to move in the coming days according to the simple wave we have drawn and touch the 1760 , 1736 and 1706 targets.
Correction until 1706 will be about 50% of Fibonacci , which is very appropriate and necessary to rest and continue the upward trend.
If the daily candle closes in the same price range ( below 1798 ), the expected price drop will be higher.
Good luck
XAUUSD, 11 reasons for the price drop11 solid reasons that you can rely on to start the price drop:
1. Strong negative divergence in RSI and MACD
2. The formation of Hanging Man candlestick (a bearish candlestick that initiates a downward trend)
3. The possibility of forming a double top
4. Strong resistance 1800 to 1810
5. Dealing with the trend line (probable channel) daily
6. The presence of two large gaps in the areas 1710 to 1727 and 1680 to 1702 (must be filled)
7. The necessity of pullback to the broken channel of 9 months and retesting it
8. Dealing with the 200 moving average
9. RSI and Stochastic are in the overbought range
10. NFP data that will benefit the dollar
11. Fundamentally, according to various data, the current price is very expensive.
Dollar index and returnIn the daily timeframe, as seen, it has reached the midline of the 12-year channel and is on strong and reliable support ( 104 to 104,300 ). We also have a price range from 109 to 111 that must be filled. The 9-month old channel is also broken and should be pullback to this channel. In RSI and MACD , positive and strong divergence has formed. Based on NFP data and technical reasons, we expect to see a strong rebound and good growth.
XAUUSD, start sellingThe range of 1780 to 1786 is a heavy daily resistance. It is expected that a Double top will be formed in this area. If a Double top is formed, heavy rainfall will occur until 1630 . It is also necessary for the price to pull back to the broken 8-month channel . The sales range is 1780 to 1785 . The main target is 1630