AndeWave

AndeWave Updated 

GOLD is under bear market pressure. The sell-offs bring the price down to 1932 and form a consolidation. The market is building up for a further fall, and the correction may be quite protracted. Prerequisites for further fall: 1) there are no deep pullbacks after support retest 2) Consolidation is forming in the zone of local minimum. 3) Strong dollar negatively...

AndeWave

NZDCAD forms a trend change and continues to update local lows showing us the current trend. Prerequisites for further decline: 1) The market is neutral, flat is formed 2) The price bounces from support and heads to resistance to retest the line. 3) Locally - bearish trend. Resistance may push the price back Resistance levels: 0.8134, 0.8144, 0.8155 Support...

AndeWave

EURCAD is forming a pattern that can continue trend formation. On the chart we see an ascending triangle and a rebound from support. I am waiting for a breakout of resistance Prerequisites for further growth: 1) Fundamentally, EUR has a positive background 2) Bullish trend 3) Rising triangle and bounce from support 4) Price forms resistance retest 5) Waiting for...

AndeWave

GOLD is in the phase of realization of the reversal pattern "head and shoulders". Breakthrough of 1962.67 level and subsequent retest with further decline confirms this nuance. Prerequisites for further decline: 1) Weak fundamental background - the dollar is strengthening due to the news 2) Gold tests 1962, but cannot break through the level and the price falls...

AndeWave

GBPCHF is forming an attempt to break through resistance, but the liquidity area and fundamental component does not allow this to happen. A reversal setup is forming. The price breaks the trend support on the background of weakening of the pound sterling. Prerequisites for further decline: 1) The pound sterling is weakening in the market. 2) The price breaks the...

AndeWave

Gold is falling, but as part of a correction against the main global trend. After 3 weeks, the price is heading to the support to test this area. After such a period of time there is little chance to break this support, besides we have no preconditions for it. Prerequisites for a possible rebound: 1) Globally - bullish trend 2) Fundamentally - incomprehensible...

AndeWave

EURUSD is forming a support retest on the background of the correction when trend resistance is tested. The level of 1.0675 has already been formed and is a strong mirror support level. Another retest may confirm the bullish position and direct the price upwards. Prerequisites for further growth: 1) The dollar index is in a stupor and most likely ready to...

AndeWave Updated 

GOLD is forming a correction when breaking the local trend support. The panic zone is the support of 1964. The price is testing this area, I do not think that after such a strong movement the market will have the potential to break the level. Prerequisites for a possible bounce from 1964: 1) A strong move wastes potential. The opening session was around 1976,...

AndeWave

EURAUD does not pass through the resistance of the downtrend, consolidation is formed, which prepares the currency pair to fall. Prerequisites for further decline: 1) Euro is in the weak market phase and continues to decline. 2) A descending channel is marked on the chart, the price is bouncing off the trend resistance 3) Consolidation below 1.66166 forms a...

AndeWave

GBPAUD breaks the resistance of the downtrend, which increases the bullish interest. False breakdown is unlikely, correction before further growth is possible Prerequisites for further growth: 1) GBP is fundamentally strengthening on the back of geopolitics 2) The price breaks the descending resistance and forms an impulse 3) Before reaching the local target the...

AndeWave

GOLD is testing bullish trend support and at the same time resistance at 1988.6, which plays an important role in price formation. Prerequisites for further upside: 1) Bounce from support and bullish trend 2) Favorable fundamental background 3) Weak dollar is only positive for gold 4) The situation in the Far East 5) Consolidation in the rising channel between...

AndeWave

EURCAD is forming an uptrend. The euro is actively strengthening against the Canadian. A consolidation in the format of a symmetrical triangle with a false breakout of support is forming on the chart. If the resistance is broken, the price will head towards 1.4710 and further towards 1.4800 Prerequisites for further growth: 1) Consolidation and false support...

AndeWave

GOLD continues to consolidate near the ascending channel support. With news ahead, I expect a retest of the support in the form of a false breakout, which could be followed by a rise towards the 2005-2020 side. Prerequisites for further upside: 1) The news may be weak for the US market, which will be positive for gold 2) Retest of channel support - logical...

AndeWave

EURUSD is still in global consolidation. The market is standing still as the dollar stopped growing and went flat. NFP, Unemployment rate is released today. Prerequisites for further growth: 1) The news can be bad for the dollar and good for the euro. 2) Analysts expect 180K instead of 336K. 3) The price is forming a triangle consolidation 4) If resistance is...

AndeWave

GOLD is testing support amid the news we received on Wednesday. False breakout increases local liquidity in the market, after which the price strengthens. Prerequisites for growth: 1) False break of support against the background of an ascending channel is a strong signal for a possible continuation of the trend 2) Gold is still under the influence of increased...

AndeWave

NZDJPY breaks resistance. The market looks interested enough to reach the target of 89.900. The New Zealander is performing well against the Japanese yen. Prerequisites for growth: 1) A triple bottom is formed in the area of 87.00 2) The price breaks through the next resistance and tries to get a new impulse to open the potencial. 3) Price consolidation above...

AndeWave

GOLD is in consolidation. Which is indicated by the mood of the crowd. In this area the struggle for further prospects is forming. The main role is played by the 1984 level. Prerequisites: 1) There is news ahead, most likely it could be positive for the American market, which could be relatively negative for gold 2) If expectations come true, the gold price...

AndeWave

GBPJPY is forming a sideways range on the background of weak pound and radical decisions of Japanese authorities related to interventions, But as we remember, these methods affect the market short-term. Prerequisites for the fall: 1) False breakdown in a reversal pattern format 2) Impact of interventions on Yen appreciation. 3) Price in a range. False breakout...