Over 20 years in trading
You have probably notice that I don’t analyse EUR/USD lately at all and if you take a look on this daily chart closely, you will understand why. Even that the technical analysis works perfect, the pair is moving without much sense and it’s impossible to trade on trend here for a long time, what’s unfortunately not strange. Even before Brexit the
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Starting last week and continued in this one, there was a several FED members who talked about the hike possibility on September 21. and this is why the precious metal is falling for the last four trading days. As I pointed in my previous gold analysis, daily down trend line stoped the bulls and my view was that gold will stay
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Gold bulls pushed the precious metal price strongly up yesterday on weak ISM and reached daily down trend line and resistance level at 1353/58. Are they preparing ‘the field’ for September 21. and for the FED’s interest rate decision with stay on hold? They could be and this is the possible range in the next 11 days and the possible move on decision.
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In my previous two analysis I have pointed at the 1300/05 as strong support and posible turnover point and as the sellers have failed to reach daily MA100 on September 01., the bulls have take over the precious metal. In the last two days, the resistance level on 1328/32, in wich I have pointed in my previous analysis, hold the
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In my last gold analysis from August 24. I have pointed at 1300/05 as a potential target for sellers and they have reach that yesterday. As you can see, they are trying to go even lower and what they want now is the daily MA100 level at 1296. This level at 1300/05 is good and some kind of psihological support and
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Gold sellers pushed the precious metal true the ‘August support’ at 1330 and they have reached 1324.84 low for now. Is this break? Depens on wich level gold will close the day and that’s why I have wrote fall, not break. Looks bearish after breaking of the H4 simetrical triangle two days ago on wich I was pointed here in my gold
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It’s interesting to see my EUR/USD analysis from Thursday August 18. and my comment on possible SL hunting above this strong trend line, which was holding the pair before and after the fail break, but not for that several hours of fail. Was that SL hunting or something else it’s irrelevant, but the real break missed and the pair returned on Friday
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Gold traders are relentless in August with sharp and quick turnovers, but when you see my analysis on H4 chart, you can see how they are moving the price precisely in between the simetrical triangle and SR levels. On the down side, up trend line is the place for the buyers and on the uper side, strong resistance at 1357 and down
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As you know, my main tool for the analysis and trading are trend lines as they are are playing very important role in the future moves. You can see on this chart that the trend line from December 2015 (1.0500) is holding the pair on the way up for 3rd day in a row at 1.1320/40 level. That’s why you
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It’s interesting to see how long the consolidation of the main currency pair is. To be precise, from January 18.2015 after the pair reached the exact level where it is today, near the 1.1200. There was some downs and ups as you can see, but we can conclude easy that there is no long-term trend for the past 16 months in which
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How much you have paid the ticket for this ride? Well, if you traded USD/JPY or JPY with other currencies last night, you have certainly paid this ride too much, right!? Take a look at my 5 minute chart how this was dangerous to trade and that looks even more frightening if you take a look at the 1 minute chart.
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The precious metal is extremely bullish for days, but the buyers can’t brake the resistance trend line at 1370/75 for now. That’s why I see the possibility of the H&S formation at the H4 chart. Of course, this descending triangle is important for furder developments and it could reverse the gold up again if the same will be broken!? It’s not easy
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After ‘the Brexit day’ and 1358 high, the precious metal returned down on the consolidation level in between 1305 and 1335, after wich the simetrical triangle was formed in the next several days. You can see how the triangle was broken on Friday after wich the precious metal reached 1335 at first, 1248 latter on, where the gold closed the previous week.
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