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Descending Channel

GOLD → Prerequisites for further decline, or?OANDA:XAUUSD is within the descending price channel. The trend break occurred at the end of June. Within the current channel, the price makes a false breakdown of 1902 and forms a rebound to resistance, which many perceived as a trend change, but it is not so There are not many key news releases this week, but all of them are published on Wednesday, they are worth paying attention to, for the data indicator will provide us with a medium-term insight for pricing: 1) SP Global US Services PMI 2) ISM Non-Manufacturing PMI 3) ISM Non-Manufatiruong Prices Monday is a day off in the US, hence we do not expect high volatility. From the technical analysis point of view: The price is in a descending price channel. The nearest resistance that may play an important role for the price is at 1920, 1935, on Monday and Tuesday the price is likely to reach this area before falling further. Why am I expecting a fall? Pay attention to the DXY chart. The dollar index has consolidated above the strong 103 level, forming an impulse and testing a false break of 104.3. In the medium term, the DXY could continue to rise towards 105.65, which would give a bearish push for gold Support levels: 1902.9, 1884 Resistance levels: 1920, 1935.5 The direction of the dollar will give us the primary movement of the gold price in the first half of the weekly session, the news on Wednesday will determine the further movement. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
21
GOLD → The price will break 1914 and start another decline OANDA:XAUUSD is declining amid the strengthening of the dollar. TVC:DXY finally consolidates above the key support of 103 and starts upwards to 105-107, which gives a new kick to gold for the fall On the chart we see the price stopping in the area of 1914-1918 and the price forms a retest of 1914 after a false breakout - a strong enough syschgnal that prepares us for a possible fall in the value of the metal. If the price breaks 1914 and forms a consolidation below the level, it will give us a strong signal that the price will continue its fall to 1900-1885 after a shakeout in the form of a rally to 1918. A stronger dollar means that no one will cut rates anytime soon as the market still sees strong inflation. Moving averages are acting as support but MA-50 may be broken soon which would open a new corridor for price Support levels: MA-50, 1914, 1911 Resistance levels: 1918 I expect a short setup and the development of the situation in the format of price decline to 1900, but something against the scenario can always happen. If the price breaks 1918, it will start to rise to 1925. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
15
DLink Swing Trade IdeaDLink, looks strong in monthly and weekly, multiple times sellers have attempted to bring the price down at the major supply zone of 228-253, but buyers have won and the stock is moving up. Weekly is moving in a narrow range consolidation, 3rd week, now, post the triangle compression breakout that happened. One may look for consolidaiton BO in the upper side of the channel in 75 mins and any Lower TF for a better entry. Monthly RSI is perfectly moving from over sold to overbought, yet to reach overbought.
NSE:DLINKINDIALong
by Rugminik
EURUSD → Euro weakens amid strengthening dollar FX:EURUSD continues to fall on the back of the strengthening dollar index. As I mentioned earlier in other ideas that the 103 level plays an important role for the TVC:DXY . The currency has consolidated above and headed towards 105, which makes both the forex and OANDA:XAUUSD to fall The chart shows a descending price channel that plays a key role in shaping the price. EURUSD breaks support at 1.0835 and forms momentum. Before the further fall, a quick correction to the resistance may be formed, after which I will wait for the price to fall to the nearest targets indicated on the chart. In the medium term, the currency pair may continue its decline until the USD policy changes. Moving averages act as resistance, earlier MA-50 was tested by a false breakout Resistance levels: 1.0835 Support levels: 1.0733 I expect the continuation of the fall amid the strengthening of the dollar. Euro is weakening, and the currency pair may fall to 1.06000 Regards R. Linda!
Short
by RLinda
12
🥇GOLD - Rally. The price strengthens and forms a retest XAUUSD surprises by forming a rather strong movement on the background of weak news. This movement is based on technical factors, namely the realization of consolidation within the framework of correction on the background of bearish trend TA on the high timeframe: 1) Price is correcting and aiming for resistance at 1937.5 2) Globally we have a bearish trend, locally this trend is opposite to the global one. TA on the low timeframe: 1) I have marked support at 1918 and an ascending support line 2) Price may form a liquidity retest if this area is retested. If sellers sell the level on a pullback, price will break support and fly to 1900 3) At the moment there is a chance that from 1918 area the price will break up and hit 1930. Key support📉: 1918.9, trend line Key resistance📈: 1930
OANDA:XAUUSDLong
by AndeWave
13
💱CADCHF - Dynamic Seller VS Limit Buyer CADCHF is in a strong bearish trend, as the D1 chart tells us. Price is forming a retest of strong support, which prepares the market for further decline TA on the high timeframe: 1) Support at 0.64863 plays an important role for us 2) The liquidity area is under intense attack from buyers. A break of 0.64888 - 0.6475 area will form a strong downside momentum TA on the low timeframe: 1) A descending triangle is forming. This setup can be interpreted as pressure from dynamic sellers on the limit support level that buyers, mainly whales and managers, have built up 2) Another retest and breakout of 0.64888 will form a strong momentum as this area is already tight liquidity area Key support📉: 0.64888 - 0.64750 Key resistance📈: triangle boundary, 0.65150
Short
by AndeWave
5
GOLD → The XAU is accelerating and the dollar is standing stillOANDA:XAUUSD is forming a rally to 1920, which is what I have been talking about for a few days now. At the moment, while DXY is in consolidation near an important level and does not give signs of falling or rising, we see a violent reaction in gold XAU goes beyond this consolidation and forms a retest of 1919 resistance followed by a false breakdown. But on the background of a strong market, a weak technical pullback is formed and the price goes back to the resistance retest and breaks it, updating the local high to 1921. There are several important levels marked on the chart: support at 1919 and the next support at 1914. Consolidation of the price above 1919 will form a setup for opening long positions, which will allow to hold trades until 1930. 1932. If the price will form a pullback and form a consolidation below 1914, in this case we should expect the price to decline to the previously broken consolidation boundary. Pay attention to the dollar index, it is still consolidating above 103. A fall below this level will give a strong rally for the XAU Support levels: 1919, 1914 Resistance levels: 1921, 1924 I expect a predictable reaction from these levels, it is important to wait for a signal confirmation in the market and only then open trades. Regards R. Linda!
OANDA:XAUUSDLong
by RLinda
19
GOLD → XAU pricing is dependent on the 103 level at DXYOANDA:XAUUSD confirms flat resistance and forms a retracement of 1890 support, but the price does not reach flat support, while XAU forms a double retest of MA-200, but does not update the high. Strange situation in the market Statistically, another retest of resistance can lead to a breakout of resistance, but as long as the price is in consolidation we will consider the strategy of trading from the flat boundary. XAU has global and local trend coincide and both have downward direction. On the global timeframe we are interested in DXY, the price broke 103 and is forming a consolidation above the level, if the price starts to update the local highs it will mean that the dollar has strengthened above 103 and will continue its growth, in this case gold will continue its fall from the level of 1902.87 (pay attention to this level). Above 1902.87 a liquidity area is forming at the moment, a false breakout of this level is possible before a further fall. Support levels: 1896.68, 1890 Resistance levels: 1902.9, 1912.25 I expect a decline in the gold price in the prioritization, perhaps it will happen after a false breakout. If the dollar makes a false break of 103, gold will break the resistance and head towards 1925 Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
21
USDCHF → The currency pair may break through resistance FX:USDCHF continues to strengthen within the ascending triangle. The price is retesting the trend resistance. What can happen? As we can see on the chart on the bottom left, the currency pair is forming a consolidation relative to a strong resistance area. The mentioned accumulation, when moving to the phase of implementation is able to change the direction of the trend, in this case, the global downtrend will begin to change its direction following the dollar index. DXY breaks the key resistance and on the basis of fundamental factors begins the implementation of the strengthening strategy. The USDCHF currency pair may go to 0.89088 if the resistance of the descending channel is broken. Support levels: 0.87779 Resistance levels: 0.88133, 0.88250 I expect a small bounce from resistance and further retest of the area, which may break the resistance and trigger a rise in the market. Regards R. Linda!
Long
by RLinda
18
💱GBPUSD - Rising channel. Is growth to 1.29000 possible? GBPUSD forms a rebound from 1.26525 support and forms a local counter-trend correction TA on the high timeframe: 1) Price in the range of 1.28484 - 1.26525 2) After a false breakdown of support there is a potential for strengthening to resistance TA on the low timeframe 1) A local bullish channel is formed 2) Price consolidates at support and forms a retest of resistance 3) Within the up-trend, the retest of 1.27836 may form a breakout and growth to 1.29000. Key support📉: 1.27155 Key resistance📈: 1.27836
Long
by AndeWave
6
🥇GOLD → Price is exiting the bearish channel Gold breaks the resistance and forms numerous retests of the line, most likely this indicates that the market does not have a clear phase and there is a chance of price transition from a directional trend state to a flat state TA on a high timeframe: 1) One of the key supports is broken, the direction has a downward vector 2) A retest to the 1900 area is being formed, but at the same time, the daily candle closed on Monday indicates that the market is ready to continue its decline. TA on the low timeframe: 1) After a false breakout and retest, price confirms a breakout of channel resistance 2) Price seeks to test the key resistance at 1902.73, most likely another bounce may follow from the line. 3) Global and local trend is still bearish, and any of the resistance lines may affect the price formation Key support📉: 1891.87 Key resistance📈: 1902.73
OANDA:XAUUSDLong
by AndeWave
6
💱EURUSD - Price breaks resistance EURUSD is forming a descending price channel for quite a long time. For the last week, a consolidation in the format of a wedge is forming on the chart, which breaks the boundaries of the range TA on the high timeframe: 1) A bounce from 1.08441 support is forming and price is limiting itself to the range 2) The liquidity area where the currency pair may be headed in the medium term is around 1.10500 TA on the low timeframe: 1) The resistance of the wedge coincides with the location of the resistance of the descending channel 2) Price breaks the resistance area of the reversal pattern and exits the range, a retest of 1.09178 is formed 3) As the trend is breaking, price may soon enter the phase of realization of accumulated potential and form a distribution to 1.10475. Key resistance📈: 1.09178 Key support📉: channel line, 1.08744
Long
by AndeWave
6
GOLD → Price forms a flat while DXY consolidates OANDA:XAUUSD is stopping. Yesterday I said that we should expect a flat formation in the near future. We are seeing confirmation. A break of trend resistance sends the price to retest 1900, after which a range of 1900 - 1885 is formed Note the dollar chart below. Gold is highly dependent on the DXY price. USD breaks the 103 level but does not form a proper momentum but forms a correction to 103. If the bulls hold this level and the upside begins, gold will react accordingly. But now there is a high chance that DXY will make a false breakout of this level and head downwards. In this case, gold will break the 1900 level, which it is now heading to retest and may form an impulse to 1912.25. Globally, I don't see strong preconditions for a market reversal and growth to 2000. I expect a correction or growth to 1912, maybe even to 1925, but in the medium term - a fall to 1880-1850. Support levels: 1890, 1893, 1885 Resistance levels: 1900 I expect a retest of 1900, if the dollar starts to fall, gold will break the level and head towards 1912, if the dollar from 103 starts to strengthen, we should wait for the fall of XAU. Regards R. Linda!
OANDA:XAUUSD
by RLinda
24
🥇GOLD - Support Retest. Price is looking for a bottom Gold forms a false breakdown of 1937.58 and forms the strongest impulse in the last few weeks (chart on the left). At the same time, local and global trends coincide and the price retests the support. The prerequisites are obvious TA on the high timeframe: 1) False breakout forms a downward impulse. Price falls to 1885, having previously broken support at 1909 2) The only key liquidity area the market is interested in is below 1807 TA on the low timeframe: 1) A bearish channel forms, price bounces off resistance and we see momentum 2) A retest of 1885 is formed, price may test trend resistance before further breakout. 3) The only scenario at the moment is to sell. Key resistance📈: 1891 Key support📉: 1885
OANDA:XAUUSDShort
by AndeWave
11
GOLD → Can the XAU stop falling? OANDA:XAUUSD is declining amid the strengthening of the dollar index. The latter in its turn broke a strong resistance, and XAU continues to update the lows There is a possibility that the decline in gold may stop, but only if the trend resistance is broken. The price will go into a sideways flat condition, which will force the price to trade in the 1900 - 1800 range. At the moment, the XAUUSD pair is within the boundaries of the bearish price channel. A resistance retest is being formed, which could push the price beyond 1890 and trigger another drop to 1880. On the global chart on Sunday, we saw the current bullish trend where I described the potential for the medium-term outlook of the XAU. The market is bearish and we should prioritise looking for resistance levels for selling Support levels: 1890, 1884 Resistance levels: 1894, 1900 I expect a bearish scenario to form in the market, but gold may try to break the trend resistance. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
23
The ETH/USD bounced off the bearish channel resistanceThe regulator does not appear to be planning to deny the applications of nearly twelve companies, including ProShares, Volatility Shares, Bitwise, and Roundhill, that have recently filed to introduce Ether futures ETFs, according to a Bloomberg report from August 17 that cited unnamed sources with knowledge of the situation. The ETH/USD bounced off the bearish channel resistance and is trading again above $1600. The next bullish swing could test the resistance of 2 trendlines near the $1900 confluence zone. The short-term target is $1760 support.
BITSTAMP:ETHUSDLong
by almmaye
GOLD → Prerequisites that the price will continue to fall OANDA:XAUUSD finally breaks the medium-term support line and updates the low to 1885. The trading week closes near the local support level, which indicates that the market is ready to continue the trend This week ended positively for the dollar, the metallo reacted as expected. There are several important news items to watch out for in the coming week: 1) Building Permits 2) SP Global US Services PMI 3) Core Durable Goods Orders 4) Initial Jobless Claims 5) Fed Chair Powell Speaks There is talk within the FED that the market is not ready to weaken yet as inflation is still at a high level, but again, rumours and facts affect the market in categorically different ways From a technical analysis point of view the market is preparing to decline further as the global upward price channel was broken earlier, price breaks strong support and also breaks MA200, at the end of last trading session price closes very close to the risk zone, breaking through which will form a downward momentum. Support levels: 1885 Resistance levels: 1902.9 The market is weak, the dollar index continues to strengthen actively, which may continue to negatively affect gold. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
19