We’re still on our way down I’m eyeing the 1.1 level.
Sell was a good call, I’m sticking mainly to tech analysis though plenty of USD economic news to come out soon, How is everyone else viewing the fundamentals?
yes, main dir still down imo also, heavy sellers 40 pips above, i m thinking it s gonna do a fake break down, then push up and retrace to that level(also a fib)and look to sell again. it s to low and close to that support to sell now, even tho on the news anything can happen
Good morning traders, new week begins. Checking out our old friend GOLD. Looks to me as if theres a nice little double bottom there held up in this trend. But will it hold is the question, and will we see an Xmas Rally? Historically there has been a bull run so my money is on yes. Personally ill look for it to hold this trend and go long for xmas with support confirmed. Stay safe out there everyone as Dec can bring low liquidity
Thanks for your input, I’ve seen other sources saying that historically gold goes on a bull run through December so will be Interesting to see first hand myself.
Good morning traders. Were back looking at AUDUSD today, news has just been released from the bank and it goes along with the recent bullish momentum. On the daily we broke above moving averages and closed above which was a good sign. i am already long in this position but here is a couple of possible outcomes i see over the next few days. If you do decide to go long then waiting for pullbacks to support shelfs is a good idea as you can get smaller stop losses and a good R:R. Remember to always use risk management and stay safe out there
As you know I have been taking longs in this very long range when price has been coming to support and now we see the long awaited break out. Observe the candlestick behaviour on the retracment to now new support to enter a higher probability buy.