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XAUUSD (GOLD)- USD TREND ANALYSIS W/FUNDAMENTALS After last weeks NFP results were positive and price action looked good to support the fundamentals I was thinking longs for USD, which is bearish for Gold. Of course this was not the case as we had new fundamentals break that stated issues between North Korea and the USA. Important to stay flexible and keep up with news as things can change quickly and the bull trend continued, infact it actually picked up after retesting a new major support and making higher highs. Gold has now approached a really major resistance zone that has previously been rejected twice, could the third time be the charm for a break? We will see what happens this week, we may start a period of consolidation if both these major zones hold strong, enough for liquidity to be enough to push price higher. There should be enough volume and volatility this week with all the news events including FOMC statements.
OANDA:XAUUSD
by nick.trader4
Bitcoin bulls, don't get your hopes up too soon. Your levels.I just want to take a quick minute to remind everyone that the previous trendline for which I drew the bottom of our bullish channel (GREEN) still remains significant despite the fact that it was already broken three times (down on the 10th, up on the 20th, and down again on the 25th). That being said, I am not saying that we'll enter back into the channel again. But what I am saying that it can still act as overheard resistance, and indeed, as you can see from the chart, it has. Bitcoin remains in semi-neutral territory here. Although, it is not bearish (downward sloping RED channel), it is also not bullish (at least, I wouldn't give it that credit) yet. Any trades entered before the first week in August remain fairly high risk in my opinion, especially considering what we are seeing on my charts which is indecision/volatility. Stay cautious and know your levels. The major levels I have indicated on the charts. Seven levels in our current area between the GREEN and RED trendlines are: 1) GREEN TL (currently around $2800 2) $2760 3) $2670 4) $2600 5) 50 MA (currently around $2550) 6) $2420 7) $2340 (which is also %78.6 Fib) Happy trading friends!
BITSTAMP:BTCUSD
by stewdamus
8
AUDCAD Weekly Long Term PerspectiveAlthough I prefer trading the shorter time frames like 1d, 4h, and 1h - it always helps to know the overall situation. AUDCAD has been ranging between 1.0350 and 0.9170 for many years now on the weekly chart, and on the time frames I just mentioned, this provides opportunities to trade the trend up and down to and from the zones above. So I mapped out the most likely price movements based on what has happened in the past. Notice that most recently, price has formed a low, high, HL, HH, HL, and is now possibly forming a HH. (beginning at the first vert. line) From here, I think AUDCAD will rise to 1.0340. If price failed to make another HL and instead print a bearish weekly candle at the 1.0350 zone, we will see price head to parity 1.0000, and then possibly lower. Learn to read the markets and you will be successful.
by MtxTrader
Usdcad outlookUSDCAD already topped and is headed back down to the daily trend line (support) of the 1.2920 area. Since the top, the pair had a pullback to the resistance of the 1.3186 area and the 50% retracement and the resistance trend line, this is all confluence. Next, the 1.27 fib extension is near the zone of a support sot here is probable reason for another retracement here. This retracement should rise to the resistance trend line, the first fib retracement of 38% and the new fib retracement of 23% as there is confluence between the two fib percentages. After that, we will see a new short leg to the daily channel support i mentioned earlier of 1.2920, in this area is also the 1.618 fib extension that support the end/bottom of the trend and probable start of a new up trend.
Short
by JahdeeCamble