Seeing a huge drop coming for GOLD this weekGOLD may retest 2318 area and complete an inverted head and shoulders, and then head up to resistance level which lines up perfectly on trendline resistance AND lines up perfectly at the 61.8% Fibonacci level, this is a very interesting level for these 3 lining up this trendline has been valid for months and very strong trendline resistance that has been tested multiple times. I suspect GOLD will plummet down to 2300-2280 by the end of this week, probably during London session as from my personal experience I have seen this happen multiple times and have taken this opportunity to profit off this pattern
moreover the DXY has been making impulses to the upside and healthy retracements to continue with another impulse this week if the trend continues, keeping on eye on news to support this bias and watching these levels on particular the 2340-2350 area
Weeklyprep
GBP/USD and a POSSIBLE BUY#PreparationHey tradomaniacs,
looking at GBP/USD I can see a possible long-scenario in order to continue the trend.
Technicals:
The previous fakeout by DXY caused a sell-off in GBP/USD which has resulted in a fakeout and close above the key-support,trendline and 61,8% Retracement-Level.
GBP/USD recently broke out of its consolidation and has now retested the area of possible bullish confluence.
It is likely to see another UP-WAVE which would be the third and so extended wave to trade (Very attractive to trade).
Fundamentals:
The previous NFP-Data were overall bearish for DXY as the positive Figures were a confirmation for the current low monetary policy of the FED.
The market will probably price in more liquidity for the market and so more inflation in the USA which will probably boost EUR as it has a weight of 57,5% in the US-DOLLAR-BASKET.
The only concern I have is a previous post from London saying that the economy does not recover as good as expected and that a further easing is likely to happen.
This is a dovish sign for the POUND and could so may give us a nice chance to buy EUR/GBP as I expect a better performance by EURO against DXY.
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Peace and good trades
Irasor
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USD/CAD could move DOWNHey tradomaniacs,
this is my plan for next week!
If the bullish sentiment continues and the stockmarket + CRUDE climbs I will short USD/CAD after the fakeout of this trendchannel.
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Peace and good trades
Irasor
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NZD/USD looks BULLISHHey tradomaniacs,
NZD/USD looks bullish to me as downtrendline and key-resistance-zone is violated and bulls are showing more volume after the previous breakout.
CoT-Data are currently mixed but are showing an increase of NET-LONG-POSITIONS of Hedge-Fonds and other institutional traders.
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Irasor
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GBP/USD and potential SELLHey tradomaniacs,
GBP/USD is is still in a downtrend and shows weakness the closer we get to the key-resistance-levels.
After the end of the previous correction and pump of POUND vs USD we might see another rally to the downside as soon as the previous high gets confirmed as a lower high.
More bearish confluence could force buyers to give up in order to secure their profits with the next momentum to the downside.
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Peace and good trades
Irasor
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EUR/USD and potential SELLHey tradomaniacs,
EUR/USD is showing first signs of weakness at a very strong KEY-RESISTANCE-ZONE of the bigger timeframe.
The previous rise was pretty choppy and is creating a ptentoal double-top-pattern.
If we see a break below the neck-area- we could get a nice opportunity to short.
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Peace and good trades
Irasor
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EUR/USD and a potential SELL SETUPHey tradomaniacs,
EUR/USD is currently fighting at very crucial price-area.
This potential S/H/S-Pattern could cause a continuation of the previous breakout below the trendline.
Key-Levels are also marked up in the monthly chart below.
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Peace and good trades
Irasor
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AUD/USD could DROP very HARDHey tradomaniacs,
AUD/USD is currently fighting at very crucial price-areas.
Overall I expect it is all up to the CORONA topic which is currently heating up again.
A dropping stock-market would confirm this IDEA and setup.
Technically we see a double-top-pattern and an impulsiv-wave which is ending -> Next cycle should be a correction.
Wait for the break below the trendline before you sell as market is still respecting it.
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Peace and good trades
Irasor
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GOLD (XAU/USD) and POSSIBLE scenarios!Hey tradomaniacs,
this is just meant to be a weekly preparation and shows that XAU/USD is currently showing an interesting scenario!
Plans are noted in the chart so there is not much more to add. ;-)
Make sure to note that you need an confirmation for each scenario.
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
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Any questions? PM me. :-)
GBP/USD: Your OPPORTUNITIES for the WEEK Hey tradomaniacs,
this is just meant to be a weekly preparation and shows that GBP/USD is currently showing an interesting scenario!
Plans are noted in the chart so there is not much more to add. ;-)
Make sure to note that you need an confirmation for each scenario.
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
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Any questions? PM me. :-)
GOLD (XAU/USD): Your OPPORTUNITIES for the WEEKHey tradomaniacs,
this is just meant to be a weekly preparation and shows that XAU/USD is currently right at a significant level.
Plans are noted in the chart so there is not much more to add. ;-)
Make sure to note that you need an confirmation for each scenario.
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
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Any questions? PM me. :-)
USD/JPY: Your OPPORTUNITIES for the WEEKHey tradomaniacs,
this is just meant to be a weekly preparation and shows that USD/JPY is currently right at a significant level.
Plans are noted in the chart so there is not much more to add. ;-)
Make sure to note that you need an confirmation for each scenario.
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
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Any questions? PM me. :-)
CAD/JPY: Your OPPORTUNITIES for the WEEKHey tradomaniacs,
this is just meant to be a weekly preparation and shows that CAD/JPY is currently right at a significant level.
Plans are noted in the chart so there is not much more to add. ;-)
Make sure to note that you need an confirmation for each scenario.
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
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Any questions? PM me. :-)
USD/JPY: Your OPPORTUNITIES for the WEEK Hey tradomaniacs,
this is just meant to be a weekly preparation and shows that USD/JPY is currently right at a significant level.
If the Key-Resistance-Zone can`t hold and price breaks through trendline we could get a potential BUY-SIGNAL!
If the market rejects of the Key-Resistance and Trendline we could get a potential SELL-SIGNAL!
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
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Any questions? PM me. :-)
EUR/USD: Your OPPORTUNITIES for the WEEK Hey tradomaniacs,
this is just meant to be a weekly preparation and shows that EUR/USD is currently right at a significant level.
If the Key-Resistance-Zone can`t hold and price breaks through trendline we could get a potential BUY-SIGNAL!
If the market rejects of the Key-Resistance and Trendline we could get a potential SELL-SIGNAL!
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
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Any questions? PM me. :-)
NZD/CHF: Your OPPORTUNITIES for the WEEK Hey tradomaniacs,
this is just meant to be a weekly preparation and shows that NZD/CHF is currently right at a significant level.
If the Key-Support-Zone (CHECK WEEKLY CHART) holds and price stays inside the FLAG-PATTERN we could get a potential BUY-SIGNAL!
If the Key-Support-Zone can`t hold and price breaks out of the FLAG we could get a potential trendfollowing breakout and a SELL-SIGNAL!
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
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Any questions? PM me. :-)
NZD/USD: Your OPPORTUNITIES for the WEEKHey tradomaniacs,
this is just meant to be a weekly preparation and shows that nZD/USD is currently right at a significant level.
A support above the trendline would confirme the breakout and could be a potential BUY-SIGNAL!
A break below the trendline and out of the rising-wedge would be a potential SELL-SIGNAL!
Hope this will help you to get prepared for the next week. :-)
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
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Any questions? PM me. :-)