It looks like on the weekly timeframe we're forming bullish divergence and we were able to close with a bullish engulfing pattern at a major support area on the daily time frame. Although i'm using the smaller time frames to look for an entry. As you can see that our previous resistance aligns perfectly with one of our fibonacci retracement levels. Wait for a...
We're currently in a long term downtrend and I expect dollar weakness throughout 2020. This could be a nice long term trade. Wait until we break consolidation before entering short :)
I still feel like this pair isn't ready to move up any higher as it seems to be overbought and we have hit an area of resistance. I'm expecting this pair to be consolidating for a while before we see a push higher.
Expecting a move like this to continue as currently we are in a bullish market. Keep in mind we can break down to the support area and then bounce from there! Be patient!
Looking for the market to make some move like this before considering to enter gold because currently it's facing a lot of bearish momentum. Enter on the RETEST! Please leave a comment down below and share your analysis :)
