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Breakdownanalysis

XAUUSD Technical Analysis 15.01.2024 1h chart– Previous Weekly candle closed Doji Bullish around 2049.100 forming weak Weekly Support around 2045.500, Friday Daily candle closed strong Bullish above recent Daily range, Rejecting recent Weekly Resistance. – Buys on close above 2056.500 targeting Weekly Resistance formed on 1st January 2024 around 2063.100, Leaving Runners to the 1h Resistance formed on 2nd January 2024 around 2070.600. – Sells on close below 2044.000 targeting 1h Support formed around 2038.000, Leaving Runners to the previous 4h Resistance formed on 11th November 2024 around 2033.000. – Ideally is to allow the Asian session to form a new range for the new week ahead and wait for high volume time around the Pre London / London session open.
OANDA:XAUUSD
by SalimFX20
GBPJPY Technical Analysis 15.01.2024 1h chart– Previous Weekly candle closed weak Bullish around 184.680, Friday Daily candle closed Bearish respecting Daily Resistance formed around 185.700. – Buys on close above 185.140 targeting 4h Resistance formed around 185.540, Leaving Runners to the next 4h Resistance formed around 185.920. – Sells on close below 184.410 targeting 4h Support formed around 183.870, Leaving Runners to the 1h Support formed around 183.460. – Ideally is to allow the Asian session to form a new range for the new week ahead and wait for high volume time around the Pre London / London session open.
by SalimFX20
XAUUSD Technical Analysis 12.01.2024 1h chart– Previous Daily candle closed Bullish around 2029.000 forming Daily Support around 2024.300 within Daily recent range and leaving 110 pip Rejection wick to the downside. – Buys on close above 2036.000 targeting previous Daily Support formed on 4th January 2024 around 2041.400, Leaving Runners to the 4h Strong Resistance formed on 4th January aswell around 2048.000. – Sells on close below 2023.600 targeting previous Daily Support formed on 18th December 2023 around 2018.600, Leaving Runners to 2013.500 for a potential wick fill. – High Impact News ahead of the New York session for the US Dollar, Core PPI m/m, PPI m/m. High Volatility expected.
OANDA:XAUUSD
by SalimFX20
GBPJPY Technical Analysis 12.01.2024 1h chart– Previous Daily candle closed weak Bearish around 185.310 forming Daily Resistance around 185.710 leaving a Rejection wick to the upside. – Buys on close above 185.890 targeting 4h previous Support formed on 23rd November 2023 around 186.390, Leaving Runners to the previous Daily Support formed on 30th November 2023 around 186.850. – Sells on close below 185.030 targeting 30min Support around 184.470 , Leaving Runners to the 1h Support formed around 184.000. – High Impact News ahead of the Pre London session open for the Pound Sterling, GDP m/m forecasted at 0.2% previously was-0.3%, High Volatility expected at the London session open.
by SalimFX20
XAUUSD Technical Analysis 11.01.2024 1h chart– Previous Daily candle closed Bearish around 2024.200 forming Daily Resistance around 2030.100 as price rejects previous Daily Support formed on Thursday last week (04.01.2024). – Buys on close above 2030.100 targeting 4h Resistance around 2036.000, Leaving Runners to the previous Daily Support formed on 4th January 2024 around 2041.300. – Sells on close below 2018.900 targeting previous 15min Support formed on 13th December 2023 around 2013.000, Leaving Runners to the Weekly Support formed around 2004.500. – High Impact News ahead of the New York session for the US Dollar, Starting with Core CPI y/y, CPI m/m, CPI y/y followed by Unemployment Claims and 30-y Bond Auction. extreme high volatility expected.
OANDA:XAUUSD
by SalimFX20
GBPJPY Technical Analysis 11.01.2024 1h chart– Previous Daily candle closed strong Bullish around 185.710 breaking out of the recent Daily Range. – Buys on close above 185.750 targeting 4h Resistance formed on 4th December 2023 around 186.150, Leaving Runners to the 1h Resistance formed on 1st December 2023 around 186.670. – Sells on close below 185.230 targeting 15min Support formed around 184.810, Leaving Runners to the 30min Support formed around 184.490. – As price already broke above the previous Weekly High, there is a good probability for price to retrace on the lower timeframe before the continuation to the upside knowing that current Monthly candle is trending Bullish.
by SalimFX20
XAUUSD Technical Analysis 10.01.2024 1h chart– Previous Daily candle closed weak Bullish around 2030.000 forming weak Daily Support around 2027.900 as price still consolidating on the lower timeframe. – Buys on close above 2038.700 targeting Daily Resistance formed this Monday around 2045.900, Leaving Runners to the 4h previous Support formed on 25th December 2023 around 2053.000. – Sells on close below 2026.100 targeting 4h Support around 2019.000, Leaving Runners to the 15min Support formed on 13th December 2023 around 2013.500. – Medium Impact News ahead of the New York session for the US Dollar, 10y- Bond Auction, Price is expected to keep ranging ahead of the CPI and PPI to end the week with strong volume in the market.
OANDA:XAUUSD
by SalimFX20
GBPJPY Technical Analysis 10.01.2024 1h chart– Previous Daily candle closed weak Bearish around 183.560 forming weak Daily Resistance around 183.800. – Buys on close above 183.870 targeting 4h Resistance formed around 184.190, Leaving Runners to the previous 4h Support formed on 8th November 2023 around 184.630. – Sells on close below 183.250 targeting 4h Support formed around 182.930, Leaving Runners to the previous Monthly Support formed in October last year (2023) around 182.440. – High Impact News ahead of the New York session for the Pound Sterling as Bank Of England Governor Andrew Bailey due to testify, along with Deputy Governor Sarah Breeden on the Financial Stability Report before the Treasury Select Committee in London, High Volatility expected.
by SalimFX20
XAUUSD Technical Analysis 09.01.2024 1h chart– Previous Daily candle closed Bearish around 2028 forming Daily Resistance around 2045.800. – Buys on close above 2034.500 targeting previous 4h Support formed around 2039.000, Leaving Runners to the Daily Resistance formed around 2045.800. – Sells on close below 2025.500 targeting 4h Support formed around 2019.000, Leaving Runners to the 15min Support formed on 13th December 2023 around 2013.500. – There is a higher probability for price to continue bearish as Daily Resistance has been formed and price has already broken below previous Weekly Low.
OANDA:XAUUSD
by SalimFX20
GBPJPY Technical Analysis 09.01.2024 1h chart– Previous Daily candle closed small Bullish around 183.800 as price continues to trade within the 4h range. – Buys on close above 184.170 targeting 4h previous Support formed on 8th November 2023 around 184.620, Leaving Runners to the next 4h previous Support area formed on 21st November 2023 around 184.950. – Sells on close below 183.400 targeting 4h Support formed around 183.090, Leaving Runners to the 1h previous Resistance formed on 20th December 2023 around 182.670. – Ideally is to wait for price to break out of the Range during high volume time as price continue to range.
by SalimFX20
XAUUSD Technical Analysis 08.01.2024 1h chart– Previous Weekly candle closed Bearish around 2045.700 forming Weekly Resistance around 2063.000, Friday Daily candle closed Doji Bullish forming huge Rejection to the Upside and the Downside – Buys on close above 2048.600 targeting 1h Resistance around 2055.000, Leaving Runners to the 15min Resistance around 2061.100. – Sells on close below 2037.700 targeting Daily Support formed on 21st December 2023 around 2031.200, Leaving Runners to the 1h Support formed on 19th December 2023 around 2025.500. – Ideally is to allow the Asian session to form a new range for the new week ahead and wait for high volume time around the Pre London / London session open.
OANDA:XAUUSD
by SalimFX20
GBPJPY Technical Analysis 08.01.2024 1h chart– Previous Weekly candle closed strong Bullish around 183.720 forming Weekly Support around 179.460, Friday Daily candle closed small Bullish as price overall ranged during the Asian, London and New York session. – Buys on close above 184.270 targeting previous Daily Support formed on 8th November 2023 around 184.830, Leaving Runners to the 4h previous Support formed on 5th December 2023 around 185.280. – Sells on close below 183.350 targeting 15min Support formed around 182.820, Leaving Runners to the 4h previous Resistance formed on 20th November 2023 around 182.340. – Ideally is to allow the Asian session to form a new range for the new week ahead and wait for high volume time around the Pre London / London session open.
by SalimFX20
XAUUSD Technical Analysis 05.01.2024 1h chart– Previous Daily candle closed weak Bullish around 2043.500 forming weak Daily Support around 2041.300 as price ranges prior to NFP. – Buys on close above 2048.500 targeting 30min Resistance around 2055.000, Leaving Runners to the current Monthly open around 2063.000. – Sells on close below 2039.200 targeting 4h Support formed around 2033.400, Leaving Runners to the 1h Support formed on 19th December 2023 around 2025.400. – High Impact News ahead of the New York session for the US Dollar, We have Average Hourly Earnings m/m, Non-Farm Employment Change, Unemployment Rate, ISM Services PMI followed by FOMC Member Barkin Speech at the Maryland Bankers Association, High Volatility expected.
OANDA:XAUUSD
by SalimFX20
GBPJPY Technical Analysis 05.01.2024 1h chart– Previous Daily candle closed strong Bullish around 183.360 closing within Daily Resistance formed on 12th December 2023. – Buys on close above 183.720 targeting previous Monthly Resistance formed on September 2023 around 184.340, Leaving Runners to the previous Daily Support formed on 10th November 2023 around 184.900. – Sells on close below 182.830 targeting 4h previous Resistance formed on 20th December 2023 around 182.310, Leaving Runners to the 30min Support formed around 181.860. – There is a probability to see Daily Resistance to be formed on Friday knowing that current Weekly candle is approaching 2 previous Weekly Rejections and previous Monthly Resistance formed in September 2023.
by SalimFX20
XAUUSD Technical Analysis 04.01.2024 1h chart– Previous Daily candle closed strong Bearish around 2041.300 tapping into the previous Daily Resistance formed on 20th December 2023. – Buys on close above 2045.800 targeting 4h previous Support formed on 25th December 2023 around 2053.100, Leaving Runners to the next previous 4h Support formed on 2nd December 2023 around 2066.400. – Sells on close below 2032.300 targeting 1h Support formed around 2025.500, Leaving Runners to the Daily Support formed on 18th December 2023 around 2019.200. – High Impact News ahead of the New York session for the US Dollar, We have ADP-Non Farm Employment Change followed by Unemployment Claims, High Volatility expected.
OANDA:XAUUSD
by SalimFX20
GBPJPY Technical Analysis 04.01.2024 1h chart– Previous Daily candle closed strong Bullish around 181.450 breaking and closing above recent Daily Resistance, Forming new Daily Support around 179.170. – Buys on close above 181.750 targeting previous Monthly Support formed in October last year (2023) around 182.330, Leaving Runners to the Daily Resistance formed on 20th December 2023 around 183.080. – Sells on close below 180.840 targeting 4h previous Resistance formed on 29th December 2023 around 180.400, Leaving Runners to the 30min Support formed around 180.000. – Despite the Wednesday Daily candle being extremely Bullish, the Push up on price could be the new Monthly candle forming a top wick before breaking the low to continue Bearish.
by SalimFX20
AUDCAD 4H Entry Short PositionHey guys! its your girl Forex Potatoe on the charts again and here is a breakdown of my analysis for AUDCAD. AUDCAD has been in a prolonged downtrend for a long time coming, Weekly and Daily Timeframe is currently in a downtrend with 4H in an uptrend. Since the longer term timeframe is downtrend and 4H in an uptrend(apparently having a pull back). We would be interested in taking a short position, therefore 4H timeframe has to correlate with Weekly and Daily Timeframe, we would have to wait for the break of the last low on 4H and a retest to enter a Sell position Kindly follow me and tell me what you think about this analysis so far.
Short
by ForexPotatoe
XAUUSD Technical Analysis 03.01.2024 1h chart– Previous Daily candle closed small Bearish around 2059.100 leaving a huge Rejection to the upside as price tapped into Daily Resistance formed on Thursday 28th December 2023. – Buys on close above 2066.300 targeting Daily and Weekly Resistance formed on 4th December 2023 around 2072.000, Leaving Runners to the Daily Resistance formed around 2077.500. – Sells on close below 2053.200 targeting 1h Strong Support formed on 22nd December 2023 around 2047.500, Leaving Runners to the 4h Support formed around 2041.500. – High Impact News ahead of the New York session for the US Dollar, We have FOMC Member Barkin speech, ISM Manufacturing PMI, JOLTS Job Openings, ISM Manufacturing Prices followed by FOMC Meeting Minutes, High Volatility expected.
OANDA:XAUUSD
by SalimFX20
GBPJPY Technical Analysis 03.01.2024 1h chart– Previous Daily candle closed small Bearish around 179.160 leaving a huge Rejection to the upside around 180.640. – Buys on close above 179.370 targeting 1h Strong Resistance formed around 179.760, Leaving Runners to the 4h Resistance formed around 180.100. – Sells on close below 178.730 targeting Daily Support formed around 178.380, Leaving Runners to the Monthly Rejection formed in October last year (2023) around 178.020. – Overall price has been moving decently on the Hourly timeframe but Daily candles still ranging within Weekly Rejection area formed in October and December last year.
by SalimFX20
XAUUSD Technical Analysis 02.01.2024 1h chart– Previous Monthly candle closed small Bullish at 2062.900 leaving a huge Rejection to the upside. Last Weekly candle closed weak Bullish leaving a Rejection to the upside and closing below Weekly Resistance formed on 4th December 2023, Friday Daily candle closed weak Bearish as market experienced minimal volume in price action. – Buys on close above 2068.000 targeting 4h Resistance formed around 2075.000, Leaving Runners to the 30min Resistance formed around 2080.300. – Sells on close below 2058.800 targeting 4h Support formed around 2053.000, Leaving Runners to the 1h Strong Support formed on 22nd December 2023 around 2047.500. – Ideally is to allow new range to form new price action and wait for strong confirmations before taking positions.
OANDA:XAUUSD
by SalimFX20
GBPJPY Technical Analysis 02.01.2024 1h chart– Previous Monthly candle closed strong Bearish at 179.460 forming strong Monthly Resistance around 187 level, Last Weekly candle of December 2023 closed small Bearish with a Rejection wick to the upside, Friday Daily candle also closed weak Bearish as market experienced minimal movements in price action. – Buys on close above 179.870 targeting 4h Strong Resistance formed around 180.440, Leaving Runners to the Weekly previous Strong Support formed on 30th October 2023 around 181.170. – Sells on close below 179.030 targeting Daily Support formed on 28th July 2023 around 178.380, Leaving Runners to the Monthly Rejection formed in October 2023 around 178.020. – Ideally is to allow new range to form new price action and wait for strong confirmations before taking positions.
by SalimFX20