The_Golden_Path

The_Golden_Path Updated 

Greetings traders, the EURCAD price is nearing its resistance zone at 1.48535, where a potential rejection could occur. If the price surpasses this level, the next target would be 1.49288. Additionally, there is an unfilled imbalance at 1.48185. Share your thoughts in the comments section.

The_Golden_Path Updated 

The ETH/USDT pair is currently in a strong downtrend with bearish indicators and patterns. The key levels to watch are the support around $2,850 and resistance around $3,100 to $3,200 . If the price breaks below the support level with high volume, it could indicate further downside. Conversely, a bounce from the support level could lead to a short-term...

The_Golden_Path

The GBPCAD price is nearing a bearish order block, which could lead to a potential rejection between 1.75283 and 1.76063. Additionally, there is an unfilled imbalance in the range of 1.74736 to 1.74970. Share your thoughts in the comments section. Fundamentally The Canadian Dollar faced pressure following the release of official data indicating unexpected job...

The_Golden_Path Updated 

The price has fluctuated between approximately $60,546.94 and $61,431.89 in the last day. In the short term, the price shows a downward trend, as indicated by the recent lower highs and lower lows since mid-June. Over the past few weeks, there's a clear bearish trend, with consistent declines from the highs of approximately $72,000 in early June. Around $60,500,...

The_Golden_Path Updated 

The price is currently trading above the 50-period moving average, suggesting short-term bullish momentum. The recent crossover of the 50-period moving average above the 200-period moving average (often referred to as a golden cross) could indicate a potential shift to a more sustained bullish trend. Potential Scenarios: Bullish Scenario: If the price...

The_Golden_Path Updated 

Trend: XAUUSD shows a volatile market with frequent fluctuations. There is no clear, consistent long-term trend, indicating a possible consolidation phase. If the closing price of a candlestick chart drops below 2306 , it suggests a potential bearish signal. Based on this price action, traders anticipate the price could decline towards the range of 2268 ...

The_Golden_Path Updated 

FUNDAMENTAL REASONS The UK economy is experiencing sluggish growth, with recent GDP data indicating minimal expansion due to Brexit-related uncertainties and global economic headwinds. UK inflation is at 3.1%, above the Bank of England's (BoE) target of 2%, putting pressure on consumer spending. The unemployment rate is 4.0%, with stable employment but slow...

The_Golden_Path

The NZD/USD pair is trading around 0.60914. The price is currently below both the 100-period and 200-period moving averages, indicating a bearish trend. There is a significant support zone around 0.60313 to 0.59926. This zone had previously acted as a support but has been broken and retested, indicating a potential shift to resistance. Immediate resistance is...

The_Golden_Path

Bullish Scenario: If the price retraces and finds support around 160.251, it could bounce back up, continuing the uptrend towards the 164.712 target. Confirmation of the uptrend would be a bounce off the 100-period SMA (currently around 157.298) and maintaining above the 160.251 support level. Bearish Scenario: If the price fails to hold above the...

The_Golden_Path

1. Current Trend: The AUD/USD pair is currently exhibiting a slight uptrend on the 2-hour chart. Trendlines: A trendline can be drawn from the recent lows of 0.6700 to the higher lows of 0.6750, indicating an upward trend. 2. Immediate Support: The nearest support level is at 0.6750, which has been tested multiple times recently. Immediate Resistance: The...

The_Golden_Path

As of June 2024, the EUR/USD has been developing a decline wave, with an estimated target around 1.0444. After completing a corrective wave towards 1.0894, the pair is expected to form a consolidation range. If the price breaks downward, a new decline wave might start, aiming for 1.0675​. Technical indicators show mixed signals, with some short-term bullish trends...