With the current conflict in the East. The market can very volatile especially on GOLD. Trade without greed. Goodluck.
Watch Your Candle Stick Patterns very closely. The market might continue the downward trend up to about 1.25114. Or 1.25866 at that area pay attention to see if the BULLS have once again regained control of the market the set TP at 1.27628 and set SL at 1.25943
Ranging maket. Watch your oscillators and be patient to get the best entries.
The market has been in this pattern for the last 3 weeks. We keep bagging pips.
Not much to say. Ranging market. But more on the upper half of the channel, if price breaksout, expect high volatility.
Upward Trend. If the US Continues to beat the war drums with Russia, the markets will push even higher. Also with no news surrounding Covid, the British economy looks great.
This pair is still in a ranging market given that neither buyers nor sellers have dominated the markets. Therefore, keep buying low and selling high but pay special attention to the news. Especially USD given their current rift with RUSSIA over UKRAINE.
Currently the market seems to be breaking out of the downward trend it has been in since May 2021. Case A: Wait for breakout from triangle. With the high inflation affecting the USD, this is the more likely scenario. Case B: Price breaks to the downside and we maintain the downward trend. Note: Patience and Discipline. Don't chase after the market. Allow it to...
We see possible scenarios here. The market direction may have changed already but we have to wait for a confirmation. This will be buy a retest on the previous support followed by a decline. OR It might be a false break out due to some fundamental news. In this case, wait for a retracement back into the trend then buy, putting SL and TP at reasonable points.
GP FX:GBPUSD This is a market forecast of how GBPUSD will likely behave if all factors remain constant this week.
Here is a the technical analysis chart for GOLD for the first week of February. Targets were set and achieved accord to the the TP and SL. Happy Trading day to all.