Next stop 2400 for GoldMy last gold TA has played out, the RSI is currently oversold on the weekly and it is likely to retrace a bit, however the bullish trend and the rising bullish volume indicate it will probably keep going until about 2400 sat, which will meet a top end trend line as well as a higher lvl on a bullish Fib.
If it dips, which it likely will, it should be a good time to buy it. I expect due to the overall bullishness 1750 would be my dip target, I expect it might finger down below this but not for any sustained amount of time.
The simplest strategy would be to HODL, however there are likely some profitable trades you can take advantage of here.
Fundamentally with the USD printer going Brrrrr , Gold is the safest bet.
Target
AUDUSD: Bearish Continuation & Short Trade
AUDUSD
- Classic bearish setup
- Our team expects bearish continuation
SUGGESTED TRADE:
Swing Trade
Short AUDUSD
Entry Point - 0.6618
Stop Loss - 0.6663
Take Profit - 0.6528
Our Risk - 1%
Start protection of your profits from lower levels
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NZDUSD: Market of Buyers
The charts are full of distraction, disturbance and are a graveyard of fear and greed which shall not cloud our judgement on the current state of affairs in the NZDUSD pair price action which suggests a high likelihood of a coming move up.
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NZDCHF: Short Trade with Entry/SL/TP
NZDCHF
- Classic bearish pattern
- Our team expects retracement
SUGGESTED TRADE:
Swing Trade
Sell NZDCHF
Entry - 0.5239
Stop - 0.5294
Take - 0.5149
Our Risk - 1%
Start protection of your profits from lower levels
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GOLD: Weak Market & Bearish Forecast
It is essential that we apply multitimeframe technical analysis and there is no better example of why that is the case than the current GOLD chart which, if analyzed properly, clearly points in the downward direction.
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EURUSD: Bearish Continuation & Short Signal
EURUSD
- Classic bearish setup
- Our team expects bearish continuation
SUGGESTED TRADE:
Swing Trade
Short EURUSD
Entry Point - 1.0920
Stop Loss - 1.0945
Take Profit - 1.0874
Our Risk - 1%
Start protection of your profits from lower levels
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EURNZD: Expecting Bullish Continuation! Here is Why:
Our strategy, polished by years of trial and error has helped us identify what seems to be a great trading opportunity and we are here to share it with you as the time is ripe for us to buy EURNZD.
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GOLD: Weak Market & Bearish Forecast
Remember that we can not, and should not impose our will on the market but rather listen to its whims and make profit by following it. And thus shall be done today on the GOLD pair which is likely to be pushed down by the bears so we will sell!
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