Price reached the lowest low, then rose made a higher low, I'm expecting a break out.
-Test of resistance -Bearish Divergence
Now that we've tested the weekly trend line for the 3rd time, we'll be hopefully looking to go long. I had previously gone short on this trade on a previous idea, but I now predict the EUR will move upwards.
Price retested a couple days ago, so we'd be looking to sell to around 1.22525.
Gold makes a measured move and breaks weeks of consolidation.. Set for those bullish moves towards $1500.
Gold prices surged as risk appetite withered across global financial markets. That pushed bond yields down alongside stocks, boosting the appeal of non-interest-bearing alternatives including the Gold itself. Crude oil also took a beating. If we look at the higher timeframe, we're still on course for a continuation of the uptrend despite being stuck in a...
I believe AUDUSD has also created an inverted head and shoulders, so we should be looking for an available pullback on the lower timeframe.
I assume, we'd be looking to go long on USDCHF now after the C corrective wave. Furthermore, this could be an opportunity for price to create an inverted head and shoulders and potentially push the market past the daily resistance trend line. That also tells me, the price of Gold may weaken temporarily as both pairs tend to move in the opposite direction to each other.
re-test of 4H trend line to continue trend?
I assume GBPUSD can either start to rise due to testing the daily support trend line as well as forming a doji on the 1H chart. If a bullish Harami or bullish engulfing bar forms on the 4H we'll be looking to go long. OR.. Due to the sellers momentum it could continue to break through and reach my monthly support at 1.23800.
I think we're still looking bearish overall
I feel as though EURJPY is looking for a bullish push for a few months.
Again as stated in my previous analysis, the curve helps me identify exhaustion in the market, market may also retrace to 50% as the support provides numerous tests
AUDUSD & GOLD have a positive correlation, because Australia is the 3rd biggest Gold producer, so I believe as the price of Gold increases, so will AUD and from technical stand point we're looking for a a re-test of daily trend resistance and continuation of the up trend over the course of the week.