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Silver- will history repeat itself?As I said, before, I usually use XagUsd as a leading indicator for Gold, and more often than not, this is the case. Also recently, although XauUsd made a new low, XagUsd stopped its descent and reversed and on Monday the reversal was very strong, with the price slightly getting back above both the ascending trend line and the horizontal level followed by a clear up break the next day(yesterday) If we look back at March, we could see a similar pattern, we a double false break and strong reversal. With a renewed appetite for precious metals, we can expect price action to act in a similar way. Technically speaking, a false break leads to reversal, and also, the recent bottom is marked by a lot of reversal candles and candle formations. 23.25 is strong confluence support and considering a trade in that zone with a target in the next important resistance a trade with a 1:4 risk: reward could be achieved
OANDA:XAGUSDLong
by Mihai_Iacob
5
EurUsd could drop under important supportSince the recent 1.13 top, EurUsd started to fall, with rallies clearly sold. Also, the mid of August is marked by a break under the ascending trend line that kept the price elevated for almost a year. At this moment the pair is trading exactly at the horizontal support and a break also under this support is probable. In such an instance EurUsd could drop to the next important support that lies 200 pips under. I'm looking to sell rallies for EurUsd and an ideal price could be 1.0950 with negation above 1.1150 for a 1:3 risk: reward trade.
Short
by Mihai_Iacob
15
XauUsd could correct to the upsideIn my Friday comment, I said that XauUsd is contained in a descending channel and the first notable support is the confluence support from the 1850 zone. However, looking at a shorter time frame we can see that the price is trading in a tight channel and, usually, this type of pattern leads to a reversal. Also, bears look tired and need to catch their breath and in the Asian session, we have a strong reversal from 1885 of around 100 pips. That being said, we can see some upside momentum for Gold with the first resistance coming into place at the 1905-1910 zone followed by the 1930 important one. I'm bullish on the short term as long as the recent low is intact.
OANDA:XAUUSDLong
by Mihai_Iacob
15
Will EurJpy finally reach 160?Since the beginning of July, EurJpy has been pretty volatile with hundreds of pips fluctuations and at the end of the month, the pair even dropped 700 pips in only a week. However, the pair recovered and the trend remains extremely bullish. Mid-August is marked by a new local high and after a top around 159, a normal correction followed. This correction comes to confirm the recent break and now we can consider this old resistance support. As long as the pair stays above this support bulls hold the upper hand and the trend remains strong with a test of 160 very probable. In conclusion, buying dips near support could be a good idea and if we keep stop loss tight we could also have a very good risk: reward for such a trade.
Long
by Mihai_Iacob
6
Bitcoin could rebound, but I'm not very optimistic After almost 2 months of consolidation, Bitcoin dropped hard last week breaking under the channel's trend line support. In my opinion, this break is very important and signals a top at around 30k and the resumption of the long-term downtrend that started 2 years ago. Technically speaking, at this moment the price is above horizontal 25000-25500 zone support and a rebound could follow. This rise should be viewed as an opportunity to sell in anticipation of a break under 25k with a target of around 21k. Only the price back above 30k would negate this strongly bearish structure
BITSTAMP:BTCUSDShort
by Mihai_Iacob
28
NzdUsd- In search of the next support (could be 0.5750)After flirting with 0.6050-0.6070 zone support, exactly a week ago, NzdUsd managed to break under and at the time of writing is trading well under the psychological 0.6. The overall structure is strongly bearish and we could probably see down continuation. 0.6050 is now resistance and, in my opinion, rallies towards 0.6 should be sold considering a stop above resistance. As the title says, 0.5750 could be swing trader's target.
Short
by Mihai_Iacob
8
XAUUSD Outlook 15/8/23 Its showtime! 🔥What is up gold gang! once again we smashed it with the analysis and execution today .. perfect reversals from the level. Boop! .. outstanding Congrats if you smashed that with me DXY reached the 103 as predicted last night and is currently rejecting it .. this could be showtime for us to start moving up in price! we have some news tomorrow which should give us the push we need to find out! A drop in DXY will send gold up if you didnt already know The levels remain the same as todays but reversals on the sell side are lower down .. whichever way we break out .. we will be ready as always to strike. Follow and like this post guys .. i appreciate you all for hanging out with me im just an ex builder with a passion for the markets .. i hope that shines through with my ramblings catch you in london tommyXAU
OANDA:XAUUSD
by tommyXAU
4
XAUUSD Short 1000 Pip Move IncomingDear Ziilllaatraders, We can see daily candels being sold showing strong selling pressure. This due to latest inflation numbers, showing an increase. Here is Why: When inflation rises, it signifies that the general price level of goods and services in an economy is increasing. This can lead to concerns about the erosion of purchasing power, as consumers and investors need more money to buy the same amount of goods and services. In response to higher inflation, central banks, such as the U.S. Federal Reserve, may consider implementing tighter monetary policies to control inflation and stabilize the economy. One of the primary tools that central banks use to control inflation is raising interest rates. When a central bank raises interest rates, borrowing becomes more expensive. As borrowing costs increase, consumer spending tends to decrease, which can slow down economic activity. Additionally, higher interest rates make it more attractive for investors to hold the local currency, as it offers better returns compared to other currencies or assets. Expectations of Higher Interest Rates: When inflation rises, there might be expectations that the central bank will respond by increasing interest rates to counteract inflation. This is done to make borrowing more expensive and to cool down economic activity. These expectations of future interest rate hikes can make the U.S. dollar more attractive to investors seeking higher returns. Attractiveness of U.S. Dollar: If the U.S. dollar is expected to offer higher yields due to potential interest rate hikes, global investors may shift their investments towards the dollar. This demand for the dollar can drive its value up in comparison to other currencies. Gold as a Safe Haven: Gold is often seen as a safe-haven asset that investors turn to during times of uncertainty or economic instability. When the U.S. dollar is expected to strengthen due to potential interest rate hikes, some investors may choose to shift their investments away from gold to capitalize on the potential gains from a stronger dollar. In summary, the relationship between higher inflation numbers, expectations of interest rate hikes, and the value of the U.S. dollar can influence investor behavior. If investors believe that the U.S. dollar will become more attractive due to potential interest rate increases, they might shift their investments away from assets like gold (XAUUSD). As a result, the increased demand for the dollar and decreased demand for gold can lead to a drop in the value of the XAUUSD currency pair. if rumors are true we are going to see a big drop. Greetings, Ziilllaatrades
OANDA:XAUUSDShort
by ZILATRADES
GbpUsd will probably break supportThe break above important 1.3 back in July proved to be a false one and after a high at 1.3150, GbpUsd dropped hard and the reversal from 1.28 support that followed was in fact a correction finalized with a very strong bearish engulfing last week, that not only engulfs the previous 2 rising candles, but also marks a new low. Friday's and yesterday's rises are anemical and the pair is now sitting on a technically very important 1.28. A break down at this moment looks imminent and in such an instance, 1.25 could become in focus. Only a break above 1.3 would change this grossly bearish scenario.
Short
by Mihai_Iacob
15
Gold remains bullish, but...In my yesterday's analysis, I said that I'm still bullish Gold and I expect a new rise to the 1980 zone resistance. After a drop to 1950, XauUsd reversed strongly at first, reaching an intraday high at 1972, but started to roll back down after. At this moment, the price is still above the trendline starting from the recent low under 1900 and also above important horizontal support. However, yesterday's high is a lower high and also the rise from Thursday's low is overlapping, not impulsive. That being said, I'm still bullish and try to buy dips, with low volume and tight SL, though
OANDA:XAUUSDLong
by Mihai_Iacob
36
UsdChf- Bullish short term, bearish medium term. What to do?UsdChf is in a bearish trend for quite some time and recently broke under very important 0.88 zone support. After reaching a low at 0.8550. Here the pair found support and formed a small double bottom which could lead to further gains. In conclusion, in the short term, a rise to test the broken support, now resistance is not out of the question and short-term traders can try to speculate this potential rise. However, if you want to stay on the safe side, a sell in 0.88 zone is a better choice.
by Mihai_Iacob
9
Gold- 1961-1963 zone remains the key for bullsIn my yesterday's video analysis, I said that XauUsd remains strongly bullish and, although a correction could happen, I don't expect a retest of the previous broken resistance and for Gold to remain strongly bullish, the drop should stop in the 1945-1950 zone. Gold, indeed corrected and reversed exactly from my buy zone leaving us with a long-tailed reversal doji candle on the daily chart. At this moment bulls seem in control and the price is inching higher and higher, pressing in the local resistance that lies in the 1961-1963 zone. I expect a break to the upside and my 1975-1980 zone target should be in play after this.
OANDA:XAUUSDLong
by Mihai_Iacob
36
EurUsd is trying for a new local highAs I've written last week, EurUsd will probably break above 1.1 resistance. CPI data brought us the fuel for the break and now the pair is trading at 1.1233, near the local high. The price is consolidating these gains at this moment and a new high could follow this consolidation. In my opinion, we will not have a retest of the 1.11 support, this being too obvious and too many are waiting to buy this support. With this in mind, dips under 1.12 should be bought, and the target for the next leg up could be 1.1350
Long
by Mihai_Iacob
34
AudUsd in strong supportAfter the double bottom in the important support area at 0.66, AudUsd has risen strongly and reached 0.69 resistance given by the previous high. At this moment the pair is rolling back down in a normal correction and this could offer bulls nice buying opportunities in anticipation of an up continuation. At the time of writing AudUsd is trading exactly in the old resistance of the range which should provide support now and I'm looking for reversal signs.
Long
by Mihai_Iacob
3
Bitcoin- Bulls or bears, who will win?The beginning of the year also marked the start of a Bitcoin bull run with the main cryptocurrency almost doubling its value by mid-April. The high of the year was followed by a two months correction (contained in a falling wedge) and a new leg up to this high zone followed. In the last month or so, Bitcoin's price action is boring for swing traders, with the price ranging between 30k and 31.5. On the bright side, the structure from the low is still very bullish with the price contained in an ascending channel and the clear continuation rectangle pattern in place, but for the price to gain traction a break above 31.5 is needed. In this case, a rise to 35k becomes very probable. On the other hand, a drop under 30k, although not altering the bullish overall structure could lead to more losses and in this case, 28k confluence support is exposed. As a swing trader, my approach is wait and see
BITSTAMP:BTCUSD
by Mihai_Iacob
25
MANA- Bullish& Bearish scenario explainedAfter the high back in February, Mana has re-entered its downtrend. However, this recent drop stopped again in the 0.3 zone and the coin shily started to rise again. The touch of 0.44 zone resistance led to a drop and at this moment we have two possible scenarios, both for bulls and for bears. Bullish scenario: As I said, the drop from 0.85 stopped again at the 0.3 zone and this could mark a bottom. Also, in support of this bullish scenario, we have the ascending triangle pattern in which the coin is trading since June. For this scenario to come into play, we need a break above 0.44 resistance. In such an instance, the coin could rise to 0.6 zone, and considering a stop loss slightly under 0.4 we found also achieve a 1:3 R:R Bearish scenario: Even though we have a reversal from the 0.3 low twice, the trend is still bearish for the coin, and the two days ago reversal from horizontal resistance reinforces the bearish idea. For confirmation of down continuation, bears need to push the price under 0.4 and in this case, ManaUsdt could make a new low under 0.3 to around 0.25
BINANCE:MANAUSD
by Mihai_Iacob
4
0.3 intact is a must for bullsAfter the break above the falling wedge at the beginning of the year and the spike above 0.4 resistance in April, AdaUsd fell under 0.3 support and May and made a new local low. However, XRP news brought optimism also for Cardano and the coin rose strongly and unconquered 0.3, resistance at that moment. After the spike in the middle of the range, the coin has started to correct and is trading, at the time of writing, at 0.32. 0.3 is a very important figure now and is acting as support at this moment. Considering that, after the recent low, AdaUsdt formed an ascending triangle pattern on our chart and the recent break above the resistance of the triangle, things are technically bullish. A test of 0.3 could offer a nice entry for bulls with a 1:2 risk: reward if we consider a test of the upper boundary of the range and a stop loss at 0.25. However, a daily close under 0.3 would make the recent up break a false one and could lead to a drop, even to a new low.
Long
by Mihai_Iacob
GOLD XAUUSD NEXT WEEKDear Ziilllaatraders, Reflecting on the past week, it brings me great joy to acknowledge the substantial profits we achieved. However, it's important to consider the possibility of a decline in the value of gold in the near future. Currently, there is an interesting struggle taking place between those who want to buy gold and those who want to sell it, leading to a noticeable correlation. Based on this observation, I have a hunch that several potential scenarios may unfold. However, it's crucial to remember that only time will reveal the true outcome. Therefore, I encourage you to stay updated and follow closely as I will be sharing more ideas in the future. It seems that we are on the verge of witnessing a significant movement, which could mark the beginning of an entirely new trend. I am genuinely interested in hearing your thoughts on this matter. Feel free to share any questions or remarks. Greetings, Ziilllaatraders
OANDA:XAUUSDShort
by ZILATRADES
1
Gold- Inflation data could provide the trigger for a breakAfter the dive under 1900 and the new attempt of a drop under this important figure last week, Gold was trading higher with dips clearly bought by bulls. In my yesterday's analysis, I've written that a break of important 1940 horizontal resistance could follow such a price development and the overall idea is unchanged. At the time of writing Gold is "playing" with this resistance and inflation data could provide the trigger for the break. Eventual dips under 1930 should be bought and negation comes under 1915 low. As for the target, the next obvious level of resistance is at the 1975 zone
OANDA:XAUUSDLong
by Mihai_Iacob
56