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4h

4H Analysis on GoldHello traders. This 4H analysis on Gold shows us a trendline which has been respected multiple times. Based on technical analysis, if the trendline is respected once again, price is likely to retest the resistance level between 1778.55 & 1782.90. If this resistance level is respected, we may also see price falling to the support level between 1742 & 1753.18. If the trendline is not respected, price may just simply fall to the support level between 1778.55 & 1782.90, and if the resistance level is not respected, price may retest the previous high on the 4H TF at 1800.
GShort
by javonjrb
3
LOONIE Likely to target 1.24500 region as a consolidation move!Price seem to be supported by S2 MONTHLY PIVOT. A potential break of trendline could lead the price to aim towards descending trendline located at the area near S1 MONTHLY PIVOT. For the criteria to meet, The 4H candle needs to close above the trendline and 4H 50 EMA. After this the RISK TO REWARD needs to be evaluated based on WEEKLY pivots. This move is likely just a consolidation move as the LOONIE looks to retrace slightly to a concrete psychological resistance at 1.25000. Downtrend is still in play as the currency is supported by commodities prices. This is just my analysis and its not a trade signal. shall the the criteria meet I shall post the trade instruction in a new post.
Long
by FX618Analysis
EURGBP - 4H Short In Trend Bearish Engulfing SetupEURGBP has formed an in trend engulfing setup on the 4H time frame. The engulfing candle nearly engulfed 6 previous candles but didn't quite clear the previous candle high but the daily and weekly time frames supported this setup. Also, nearly all other EUR pairs are very bearish. The daily candle closed below a previous strong bullish engulfing. The weekly time frame has been bearish for the past 6 weeks. The 4am EUR retail sales high impact news event set up this trade. The engulfing candle closed @8am (CST) on Wednesday. Entry at 50% retracement level. SL set above engulfing candle high. TP set at 3X risk.
Short
by justinholtgrave
3
EURUSD could target 1.16000 as a consolidation move! There is no doubt that EURUSD is trending lower, however it is completely in an oversold territory as the 4H RSI is indicating bullish divergence. Therefore this pair can be said to be in a consolidation phase. For this trade criteria to be met, the trendline needs to breached, after which the weekly pivots should be evaluated and a long trade can be placed depending on the RR. This might occur this week or next week. The initial target for this pair would be 1.16000 area (present of another descending trendline). However shall this target HIT, we can expect this pair to resume its downtrend towards the monthly psychological support of 1.15000. Shall there be any updates regarding trade entry, i will post them in this thread.
Long
by FX618Analysis