Hello everyone, here is my analysis for gold this week. Friday candle closed bearish with an engulfing bearish candle, and close below the the daily trend line, which may signal a temporary push towards 50 or 61.8 Fib retracement before resuming the dominant up trend.
Looking for a long entry on Aud/Nzd, daily market structure is bullish, close above the resistance, retested the resistance which became support, engulfed bullish candlestick was formed on daily which signal the presence of buyer in the market. Switched down to a lower time frame 4H to check market structure, Price broke out of ranging market structure with a...
Price approached an area of value on daily time after some bullish runs without a proper pullback, price closed below the resistance followed by a bearish candle after friday market closed just below the 50EMA. Going down to a lower time frame, price broke out of the rising wedge after series of bearish candle in 4H time frame. Following the lower low created on...
I see a strong bullish bias on Eur/Jpy, Price approached an area of value(resistance) and was rejected on daily time frame indicated by the long wick bearish candle stick. This candle was then followed by a small bullish candle after friday market closure, this shows a loss of momentum in the market. Going down to a lower time frame, price broke out of 4H time...
