XAUUSD has been pushing up with very little correction. I will be waiting patiently for a correction on Gold and will be looking for buying opportunities. I have drawn a trend line (box) which is being respected, however it is quite steep. If we see a break below this, I will be looking at the following levels for buying opportunities: $3,000 - 23.60% fib...
Price has tapped into a bearish order block and I think price will now drop into the fair value gap at approx 2960
I think Gold will find support once more at the $2,575 level and will push up from there to test the all time high. If Gold does get supported here I will track the movement up. From the all time high, I think we will see a very much needed deep correction down in the $2,300 area (This is of course a long term outlook) Please let me know your thoughts in the comments.
Please see my analysis on the chart. Traders, please kindly leave a like if you like my analysis and feel free to share your own thoughts.
Please see my analysis on the chart. Traders, please kindly leave a like if you like my analysis and feel free to share your own thoughts.
Please see my analysis on the chart. Traders, please kindly leave a like if you like my analysis and feel free to share your own thoughts.
Please see my analysis on the chart. Traders, please kindly leave a like if you like my analysis and feel free to share your own thoughts.
AUDNZD may be forming a Head and Shoulders Pattern on the Daily Time frame. This resistance has also shown to be a very storng level as it has been tested multiple times. I will be potentially looking for sells from around 1.09100. Please let me know your thoughts on this.
CADCHF has tested the all time low multiple times. I am expecting price to respect the support once more at around 0.64900 However, if this level is broken I will then be looking for a break and retest of this level. As price approaches this level I will be moving down to lower time frames to look at price action
AUDUSD is now forming an inverted Head and Shoulders pattern on the Daily time frame. I am looking for buys from around 0.65000. As price approaches my level I will move down to lover time frames to look at price action.
EURNZD is currently at a strong resistance level. I will be looking for sells from around 1.80700. I will move down to lower time frames as price approaches my level to look for bearish price action.
EURAUD is currently at a strong resistance level. I will be looking for sells from around 1.67800. I will move down to lower time frames as price approaches my level to look for bearish price action.