XAUUSD is correctly approaching the all time high from the monthly timeframe but a pull back occurred and a deeper test of that wick is possible, it also have a nice impulse and correction to the 0.786 of the Fibonacci retracement and another impulse on the weekly timeframe to the -0.272 Fibonacci is expected.
Technically, XAUUSD is bullish.
Watch your...
XAUUSD is correctly approaching the all time high from the monthly timeframe but a pull back occurred and a deeper test of that wick is possible, it also have a nice impulse and correction to the 0.786 of the Fibonacci retracement and another impulse on the weekly timeframe to the -0.272 Fibonacci is expected.
Technically, XAUUSD is bullish.
Watch your...
USD-CHF have an ICI to the downside on the daily timeframe and another impulse move to the downside is possible, this move have been confirmed with the COT data because institutions are adding shorts on USD making USD more weak and weak USD is what we need to complete this move.
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GBP-CAD have completed a correction on the daily timeframe after after the massive impulse move to the upside, the pull back from the daily timeframe have been completed and a continuation of the bullish move is 80% possible.
EURUSD form a clear triple bottom in 15 and 30 minutes time frame, we will wait for a breakout at the 1.06066 level and have patience until the correction is done. Then you can enter the trade after seeing a confirmation candle.
Use the ATR indicator to set stop loss.
We have seen a clear double top in 30 minutes time frame, and a news is coming up soon, let's see how the news will affect the xauusd. If XAUUSD break the neckline of the double top, we will wait for correction to the neckline before entering short into the market.
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