XAUUSD 10/9/23XU giving us a similar thing, a clean swing range to the downside after tapping into our POI we shifted massively down. we are looking for this to run the low, the same as we are looking to sweep our highs (correlation) if we don't take the low then il be waiting for a break of either he low or high based off of our open we might just take the low straight away.
Remember to always read order flow and follow what price is showing you instead of trading based on your desired direction. And, as always, stick to your risk and your plan.
We'll be closely monitoring market openings and price action throughout the week. If you find this analysis useful, let us know in the comments below and hit the boost button to show your support. Here's to a successful week of trading!
Ux
USD AnalysisUSD - Dollar is experiencing a lot of resistance in the zone as marked, so could drop from here. However, if it breaks this area, the next short price would be the QP 98.000. A lot of news for the dollar throughout next week so could be fairly unpredictable. There is also a bank holiday on Friday 3rd July. Overall, I am expecting the dollar to rise this week, which correlates with my future predictions on currency pairs that include the USD, however, due to a lot of news and some resistance shown at current price, my confidence on this is not so high (so there is a chance of drop).
Uranium: An early opportunity for a multi-year bull market?Uranium has broken through its multi-year bearish trend in August as it broke the Lower High trend line on the monthly chart. To the disappointment of investors it was rejected just below 30.00 and last week it touched the previous Lower High trend line again only this time from above. If it rebounds on that level, then it would mean that it would have successfully tested its previous long term Resistance as a Support. In turn this may create a sustainable (at least) Channel Up and establish the conditions for a multi-year bull market. The monthly chart is on neutral technical action (RSI = 47.913, MACD = 0.320, CCI = 10.3162) which indicates the presence of a support level.
Investors who seek early buy opportunities on undervalued assets and bull cycles in the making before much attention is drawn, should definitely start taking a closer look at Uranium. Our target is 33.50 with 44.00 as a possible extension.
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