I think I described everything on the chart that needs to be said. Hope you enjoy.
I was using these charts to explain to a friend where the price of gold could be heading depending on USD course of action. Maybe someone will appreciate them. :) I'm considering 1282.XX, today's low to be the bottom unless DXY breaks above the long term descending trendline. Started buying in around this price. XPTUSD I bought at $836 along the same...
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These charts deserve a closer look. :) Platinum / Palladium ratio just touched an all time low. You can see the explosive move up, following the last time the price ratio of these two metals touched this level. Considering the platinum chart on its own... Price recently found support from a ten year old support level... $750. Since then price has mostly...
Strong resistance shown on the weekly and monthly charts..... including the 2016, 2017, 2018 highs. A break of the neckline on the monthly chart could open the way for a breakout to much higher levels. Daily chart still indicates the bullish trend is still intact and well supported by the lower channel. Any kind of test of resistance between $1350 and $1375...
Now looks like a good time to short
The yellow trendline is drawn from the January 2016 high. DXY bulls have been rejected a total of four times over the past few sessions, as shown by the red arrows on the chart. Bearish divergence on the 4 hour chart may indicate bulls are losing momentum, at least in the short term.... Additional trendlines are drawn from recent swing highs / lows and seem...
Gold is attacking the bearish trendline inside the bullish channel. Looking to break out. Horizontal resistance between $1315 and 1317. A daily close above this zone would likely see prices rise to the top of the channel near $1350 USD starting to fall should support this theory.
The recent sell off in crude oil broke below a rising trendline dating back to 1999. Although this line has held up as support numerous times, it was broken in 2015, which lead to a subsequent fall all the way down to $25. After bears made a convincing move back below the tendline in October of last year, bulls rallied back, but were rejected at the newly support...
Silver needs to break through a series of strong resistance zones in order to continue uptrend. First off there is the horizontal resistance from around $16.05 to $16.25 which intersects with the bearish trendline from the 2016 high. Price was rejected after entering this zone the last week of January. Pending price breaks above this zone it is faced with the...
This is a major test for USD bulls. This TL has been holding since 1985. You can see the price dipped below Nov 2016 which preceded the EUR rally of 2017. If this TL is broken, I expect a big follow through. Breakouts of other USD pairs on the monthly chart add some conviction that this is possible. Brexit in the UK, pending recession in Germany, riots in...
Price clearly broke out from this massive falling wedge last summer. You can see January's "Yen Flash Crash" looks like an attempt to move price back inside the wedge. Price has broken out once again after bouncing off the Monthly 200 MA. A similar break above a smaller wedge in 2014 resulted in a 2000 pip move to the upside. This is just one of a handful...
Looks like a technical set up for a move to the downside.... USD bulls look to be winning this fight.
I've recently been looking over long term charts of USD pairs. Technically they show setups for a possible strong move up in DXY. I'm going to post a series of these charts because I believe they may be supportive of a much stronger USD.... This is contrary to my opinion that the USD should weaken given a number of reasons... Freeze in interest rate hikes /...
Platinum hit a 15 year low in August 2018. Since then price has been consolidating. Platinum historically has been more expensive than gold. Price has possibly broken above the bearish trendline and looks ready to break out. Seasonality supports the break higher. charts.equityclock.com On the downside, there seems to be strong support around $780.
Short GBPAUD 1.838. High RR with stop at 1.84. Take profit 1.795 AUD seems to be finding a short term bottom. Slightly higher low. Looking for a move up over the upcoming sessions.
BTC is entering a strong resistance zone. Bearish trendline resistance, 200 DMA. Intraday price has been rejected a couple times. Looking to take a short position with stop loss above $10,000. Initial take profit $7,000
EURCHF is retesting last weeks high of 1.20. Looking to enter short with stop loss above the highs at 1.2025