xauusd H1The price makes a false break of resistance and decreases.The market is forming a complex pullback the resistance zone.I think it might make a pullback and continue moving downward.
My goal is the support at 2015.800
Zigzag
GOLD → The downtrend continues to form FOREXCOM:XAUUSD has been declining on the basis of fundamentals since last week, which is what I was preparing you for. The price makes a false break of resistance and decreases by 1.8%.
Yesterday we analyzed the situation from both fundamental and technical points of view. Gold, as we expected, is declining towards the support. The price is heading towards the lower boundary of the trend, from which a small correction to the resistance may follow. If the fundamental background ( TVC:DXY ) does not change in the next few weeks, the price may test the levels even lower in the future.
Technically, now we expect a correction from the 2023-2020 area to one of the nearest resistances. BUT, if the channel support is broken and the price forms a consolidation below 2023-2020, the decline will start without a pullback, the target in this case will be the area of 2015, 2010, 2000.
Support levels: 2030, 2015
Resistance levels: 2039, 2049
The price may continue to be inside the descending channel, having formed a bounce from support to resistance. Technically and fundamentally, the price is preparing for a decline.
Regards R. Linda!
EURJPY → False resistance breakdown and a weak euro FX:EURJPY is forging a false resistance breakout amid a global bearish trend. Bearish volume is forming in the 158.38 zone
Based on the fundamental background and strengthening of the Index dollar ( TVC:DXY ), the euro ( FX:EURUSD ) may lose ground. In such a case, on the background of euro weakening, Japanese yen ( FX:USDJPY ) may strengthen.
Globally, the currency pair stands in the range of 158.5 (157.9) - 154.0. In such a case, from resistance, within the range, the price may head towards flat support.
Technically, we have a local ascending channel and a false breakdown of the resistance area. The price consolidation below 158.38 and the break of the support at 157.5 will form the market decline to 155.0
Resistance levels: 158.38, 159.0
Support levels: 157.5, 156.3, 155
I expect the price decline within the channel to the support of 155.0. Fundamentally, the euro, as well as the yen are unstable, so the market can behave unpredictably and stand still for a long time
Regards R. Linda!
USDCAD → NFP may strengthen the currency pairFX:USDCAD is forming a local resistance level at 1.3364 and pre-breakdown consolidation before the news. There is a chance that price could consolidate.
On D1 we see the formation of a global sideways range. Hence, we are using a range trading strategy in the global perspective. A false break of support forms a signal that price is now heading upwards.
Yesterday, the TVC:DXY received fundamentally positive data that could strengthen the price, and also this data (Initial Jobless Claims, ADP NonFarm EC) is a prerequisite that today's Nonfarm Payrolls will also be bullish for the dollar.
In this case, the currency pair may break the nearest resistance at 1.3364 and continue its growth.
Support levels: 1.3315
Resistance levels: 1.3364, 1.3487
There is an empty space up to the target, therefore, if the nearest resistance is broken, the price will easily and quickly reach 1.3487
Regards R. Linda!
GOLD → Uncertain market. What should we expect?FOREXCOM:XAUUSD is forming a global range of 2070 - 1810. In a neutral market, the price may head down from the resistance, but we have an unstable fundamental environment.
The market closes the second half of the new week in 2023 in a phase of uncertainty. The price is standing still. After receiving the news, the market quickly buys back the decline or sells off the rise, thus bringing the price back to the current range of 2050 - 2040.
Wednesday through Friday the market receives bullish news for the US market, which technically should drop the price of gold. But the market is already overheated by the Fed's manipulation and is apparently getting ready for further rate cuts, which the US regulators may start in early spring . In this case, the TVC:DXY will begin to give up its positions, which will technically strengthen the forex market and including gold, silver and the cryptocurrency market.
On the high timeframe ( 1 week ) we see the strength of buying power in the gold market. There is a reason for everything: fundamentals, geopolitics, problems in the US and European market, high interest in the metal from the central banks of many countries, which very actively continue to buy the metal.
Technically, the price may test 0.382, 0.5, 0.618 fibo by spring before rising further.
The positive sentiment is indicated by frequent resistance retests . Every next retest makes this zone lose strength, which technically brings us closer to the formation of a new bullish range after breaking the 2050-2075 zone.
There is not much news in the coming week, important data may be released in the second half. The market may start the new trading week by continuing to forge a sideways range between 2050 - 2040 . But, a breakout of one of the mentioned boundaries followed by price consolidation above or below this level will form momentum towards the mentioned zones.
Support levels: 2040, 2030, 2015
Resistance levels: 2050, 2058, 2069, 2075
The market may be temporarily affected by the bullish news for the US market from last Friday. Gold may start to decline to 2040 and retest 2030 as we saw sell-offs on Friday after stabilization. BUT! At the moment the market is unstable amidst uncertain potential. Proceed from these levels and your trading strategies.
Regards R. Linda!
GOLD → Will NFP weaken gold? What should we expect?FOREXCOM:XAUUSD is consolidating under a strong resistance level. Yesterday the gold market received negative fundamental data, in all likelihood, which will also affect NFP ( TVC:DXY )
On the high timeframe we see the formation of a resistance zone formed by several highs and levels. At the moment the focus is on the 2050 level. After a false breakdown and on the news on Thursday, a bearish consolidation is forming under the level to continue the decline. Based on the previous data, we have a high chance of seeing a negative NFP for gold. In that case, the price may head downwards. But, the problem with news is that it is unpredictable, The opposite of the expected NFP can strengthen the gold. Wait for the actual data.
On H1, there is a possible resistance retest before further decline. Moving averages previously formed a trend change signal and now indicate a downtrend.
Support levels: 2038.9, 2031, 2015
Resistance levels: 2049.3, 2058.3
Technically and fundamentally, the price is expected to decline towards the mentioned targets. But if the actual news data will be opposite to the expected ones, the market may behave unpredictably.
Regards R. Linda!
GBPUSD → News ahead. The pound could fall, but...The pound sterling FX:GBPUSD declines in the first half to 1.2615, and on Wednesday the currency pair strengthens in anticipation of news in the US market. What should we prepare for?
Today we are in anticipation of strong news: ADP NonFarm EC, Initial Jobless Claims, SP PMI . Fundamentally, analysts expect the TVC:DXY to strengthen based on the expected data. This will have a corresponding effect on the forex market. The actual data can either meet or break these expectations. But, the Fed has recently said that they are fully prepared to raise interest rates, trying to keep the market in a tight grip.
Technically, the GBPUSD may head towards the support of the upside range of 1.2550 - 1.2506. A correction phase is forming after a false breakdown of the resistance. The area of interest is below 1.2615.
Until the news publication, until 13:15 - 14:45 the market may be in a neutral state.
Resistance levels: 1.2715, 1.2784
Support levels: 1.2615, 1.2506
Technically, the currency pair may fall after the price fixation below 1.2715. But, if the news comes out worse than expected, it may strengthen the pair and the currency pair may start to grow from this level.
Regards R. Linda!
GOLD → Correction phase, expect a fall, but news... FOREXCOM:XAUUSD is declining by 1.3% on Wednesday, the reason may be the fundamental nuances of the Fed, which is still trying to keep the market under control, hinting at both lowering the interest rates and raising them, to which the market reacts by strengthening the dollar.
Today at 13:15 - 14:45 important news is published, which reflects both the situation with inflation and the position of the FED and FOMC. Fundamentally, analysts expect bullish data, which could technically strengthen the TVC:DXY , which in turn will weaken gold. Still, it is worth waiting for actual data that can provide insight into the medium-term outlook.
On the chart we see the formation of a technical correction on the background of a bullish trend. The price is testing the resistance of 2050, it is possible that before the news the price may go higher and test 2058, 2065 before falling further. But, if the actual fundamental data is worse than expected, it could strengthen gold towards the current channel resistance.
Support levels: 2042, 2037, 2033, 2030
Resistance levels: 2049.3, 2050, 2058, 2065
The news will give us insight into the medium-term outlook. Bullish news for the dollar will weaken gold and the price will continue the local downtrend. Bearish news for the dollar will strengthen gold and may reestablish the bullish trend
Regards R. Linda!
Bitcoin will continue to crash to 36 600Bitcoin is really bearish at this moment. We have had a massive crash recently, and this is not looking good. My technical analysis suggests that we have completed the impulse wave (3) and are in a corrective phase wave (4). This corrective phase should end at 36 600 USDT, and then I am expecting another pump to reach 48 500 USDT.
On the chart, you can see a symmetrical triangle, and the price went above it; unfortunately, it was a false breakout / fakeout. Usually, what happens after such an event is that prices reverse and go in the opposite direction. Triangles are usually marketed as wave (4) from the Elliott Wave perspective.
36,600 is a strong support because it is in the middle of the previous consolidation. Also, this is the first major swing low, right before the previous pump. There is definitely a lot of liquidity, which is a magnet for whales.
Let me know what you think about it, and please hit boost and follow for more ideas. Thank you, and I wish you successful trades.
GOLD → Correction Phase. How long will it last?FOREXCOM:XAUUSD is weakening on the background of growing TVC:DXY . At the moment, fundamental and technical indicators are diverging and the market is trying to collect maximum liquidity before further growth.
On D1 we see the formation of a false breakdown of resistance 2075. The market is in global consolidation, but locally we have a downtrend forming.
Technically, the price may test the local trend support, while the dollar seeks to test the resistance.
Within the downtrend range, gold may bounce from support to resistance. This range formation is likely to continue until the end of the week.
Support levels: 2048, 2030, 2010
Resistance levels: 2058, 2069, 2075
Fundamentally, the dollar has a weak support and should fall. But on the background of low market volumes, the market maker is collecting liquidity. It is likely that the gold may test the far support levels before rising further. Hence, the local bearish correction formation may continue until 2009 in the medium term.
Regards R. Linda!
GOLD → The bullish potential is back. December trap FOREXCOM:XAUUSD is starting to catch up with the bullish potential, which was forged at the end of 2023, when we received negative news for $.
On D1 we see gold rising on the back of a weakening TVC:DXY . The price breaks through the important and historical resistance 2069 - 2070. A retest and consolidation of price above the level is forming. A price consolidation this week above this level will confirm the intention of the bull market. In this case, we may see a potential target in the form of: 2085, 2100 and even 2150.
On H1, the price is updating the local support (false breakout) on the background of bullish news for gold. And this is a logical scenario before further growth. I warned you that before the growth, even on good news, the price can go down.
Now it is important for us to see the price consolidation above the mentioned liquidity area.
Support levels: 2075, 2070, 2069
Resistance levels: 2079, 2082, 2088, 2100
I expect growth after the price fixation above the mentioned support area.
Regards R. Linda!
EURUSD → Bulls can show good growth FOREXCOM:EURUSD is testing support in the upside plane. The support at 1.1017 plays a key role
On D1 we see the formation of a retest of 1.1000 level after its break. The market may test this area not only by touching it, but also by false breakout before further growth.
The TVC:DXY is likely to continue its weakening on the back of weak fundamental background, which will affect the forex market accordingly.
On H4 and H1 it is worth paying attention to the support area: 1.100 level and upward support in order to make further decisions.
Resistance levels: 1.108, 1.1142
Support levels: 1.107, 1.100, 1.0930
The price may test not only the nearest support, but also the one below. Everything depends on the price reaction to the mentioned levels. But at the moment we expect growth from 1.1017.
Regards R. Linda!
BTCUSD → The potential for a rise to 50K is accumulatingBINANCE:BTCUSD is forming a good potential and prerequisites for further growth. The key resistance is the level of 44350, and the price continues to actively test this area.
On the high timeframe we see the formation of a global range. The potential target from the point of view of technical analysis at the moment is the upper boundary of the range 65K - 70K, where a huge pool of liquidity is hidden.
Fundamentally, bitcoin is doing quite well, as the SEC has recently been actively cooperating with companies that have applied for a spot ETF. Analysts expect the first BTC-ETF to be approved in early January 2024: some sources have indicated that recent indications from SEC officials are that the green light is likely to be given by January 10.
In terms of technical analysis, an ascending triangle is forming on the chart. The key resistance of the pattern is the area of 44350 - 44500. This pattern can be interpreted as an active accumulation of buyers' potential for further overcoming the limit resistance formed by sellers. The price keeps testing the resistance and getting closer to the resistance.
At the moment there are two possible scenarios:
Retest of 43440 support, formation of a false breakdown with further retest of global pattern resistance and its breakout with further growth.
Deeper correction: retest of the resistance of the previously broken ascending channel with further rebound and retest of the global resistance with the aim of its breakout.
Support levels: 43440, 41664, 41200
Resistance levels: 44350, 48234
I expect that consolidation will end soon and the market will move to the phase of realization and growth to the specified target.
Regards R. Linda!
EURUSD → Favorable fundamentals for growth FX:EURUSD is strengthening and continues to give signs that the price will continue its rise on the back of a weaker dollar due to weaker GDP than analysts expected.
On D1, the price is testing the 1.1000 resistance area (important zone). A reversal V-shaped pattern is being formed, followed by numerous retests of the line. The pre-breakdown consolidation and positive fundamental background for the euro are doing their job.
Ahead of us today is CTGO, PCE at 13:30 GMT. It will not play a special role after GDP. Analysts expect the publication of roughly the same data as in the last period (with a slight correction). Indicators higher than expected will positively influence the dollar, while weaker data will strengthen the fall of $
The price is making a breakout attempt. A consolidation of the price above 1.1000 will form a bullish potential, which will be a strong support for the pair.
On H4 the price is still in the range of 1.1017 - 1.0830. Another resistance retest is formed after a small correction. A breakout of the level is expected with subsequent growth to the trend resistance. Moving averages support the market.
Support levels: 1.099, 1.0965, 1.093
Resistance levels: 1.1000, 1.1017
We expect a breakthrough of the above-mentioned area and continuation of the currency pair growth in the framework of the uptrend.
Regards R. Linda!
GOLD → Trading inside the range 2050 - 2075FOREXCOM:XAUUSD has been strengthening since the opening of the session. Friday's sell-offs formed local support at 2050 (retest) after which a new range is likely to be formed.
For gold we have a favorable fundamental background, which may have a positive impact on the price. While the TVC:DXY is declining, the gold is testing new highs.
As there are a few days left before the New Year holidays, liquidity in the market is decreasing. Against this background, the price may end the trading session within the existing range of 2050 - 2075. I would advise to focus on the range trading strategy. On the chart we can see the key support lines: (rising line, 2055, 2051, 2050). There is a chance that the price may test these lines.
The level of 2062, 2069, 2075 plays the role of key resistance.
Pay attention to the schedule of your broker, so as not to open trades before the closing of the trading session. The volumes on the market are decreasing and in all likelihood the price may get stuck in the mentioned range. On Thursday, strong news is published, but until that day, gold may trade inside 2075 - 2050.
Regards R. Linda!
Expanding triangle on EURCADA B-wave is possibly morphing into an expanding triangle to be then followed by an upward correction meaning the start of the C-wave which would potentially conclude the corrective phase of the previous downtrend started around mid-july 2020.
GOLD → The price enters a new range of 2050 - 2070FOREXCOM:XAUUSD is breaking through resistances. Yesterday the US GDP was released, which showed weaker data than the market expected and this is favorable for the gold price. In part we were prepared for it.
The TVC:DXY is breaking the pattern and retesting key support. High odds are high that the decline and weakening of the index will continue. Hence, it is bullish for gold to overcome the pattern and range resistance. Gold in a bullish move breaks through the limit barrier and consolidates above the mentioned line.
Ahead of us today is the news at 13:30 GMT. I don't think they will change anything after the US GDP. Analysts expect the publication of about the same data as last period (with a slight correction). Volatility may increase in the market, be careful during trading.
Gold enters a new range of 2050 - 2070, the intermediate target is 2062.
Support levels: 2050, 2048
Resistance levels: 2062, 2075
I expect the continuation of growth even after the news, as yesterday's news defined the medium-term potential for the market. Targets are indicated on the chart. A pullback from 2062 to support before further growth is possible.
Regards R. Linda!
GBPCAD → Trend change and break of range support FOREXCOM:GBPCAD is forming a trend change. The price is breaking the key support area and most likely the fall may continue within the channel.
The Canadian is strengthening a bit stronger than the pound sterling, which is losing ground on the background of fundamental politics.
On the chart we see the formation of a fresh descending channel, but the range of 1.793 - 1.697 is more key for us. The price breaks the support of the range and forms a false breakdown in the correction phase. Consolidation of the price below the level will form a bearish potential can send the price to the mentioned target. The market may be interested in the lower boundary of the channel as a target.
In the long term we consider price strengthening from the trend support and classical trading of the price inside the bearish trend. It is also worth paying attention to the moving averages.
Resistance levels: 1.6977, 1.700
Support levels: 1.694, 1.6855
I expect a decline, a retest of the trend support (here is our target), which may be followed by a rebound before a further decline.
FX:GBPUSD FX:USDCAD TVC:DXY
Regards R. Linda!
GOLD → The market is waiting for news. Falling or rising?FOREXCOM:XAUUSD has been standing still for a few days, as well as the TVC:DXY . The market is waiting for today's news related to GDP and unemployment. What is the difficulty in determining the future direction of the price?
Let's start with the fact that since last week the Fed destroyed the adequate price behavior for the medium term. The dollar, based on data, not rumors, should rise, gold should fall, but that is not the case. There is a possibility that this manipulation by the market maker to take more favorable positions before further movement in one direction or another.
Today the US GDP and unemployment are published. Analysts expect GDP to remain flat at 5.2% and Initial Jobless Claims to rise from 202K to 214K (a generally bearish scenario for the dollar). If:
GDP comes out lower than expected and Initial Jobless Claims higher than expected, the dollar could fall.
Accordingly, if GDP rises and unemployment falls, the dollar will probably go up. The movement of the indices will affect the gold accordingly
Resistance levels: 2038, 2050
Support levels: 2030, 2020
From the TA + fundamentals point of view, the market is confused, hence a sideways flat, which can be interpreted as neutral forces (obviously). There is a high probability that the dollar could still get stronger. In this case gold may test the resistance before further falling. But news is always unpredictable!
Regards R. Linda!
🇪🇺 EURJPY 🇯🇵 - Flag against a bearish trend The EURJPY currency pair may continue to fall as accumulation is forming amid the bearish trend. There is a weak flag on the downtrend, which is a set-up for further price decline. Besides, the false breakdown of resistance also indicates the market sentiment
Reasons for further decline ↓
1) range formation on the background of the dovntrend
2) resistance retest and false breakdown at 157.69
3) bearish trend
4) weak fundamental background for the yen
GOLD → Consolidation against an unstable background FOREXCOM:XAUUSD continues to consolidate. The market is forming a range after the shakeout, manipulation by the frs, unstable fundamental environment. Let's get to the bottom of what's going on.
The price is testing strong resistance on D1, but on the local timeframe both gold and TVC:DXY are in consolidation. Technically, the dollar is showing hints of possible growth, but the important news will be only tomorrow (December 21) and they are expected to be quite unstable. It is difficult to determine the outcome in advance, we will wait for the actual data.
Gold is testing the resistance 2048 - 2050, the third retest on D1, but the price does not reach a few tens of points to the maximum. There can be many reasons for this, and one of the serious ones is building a limit barrier due to strong sellers. But again, the price has not yet tested 2050 (no touch). It may happen before a possible rebound. Now there is also a possibility that the market may try to break 2050 and enter the range of 2050 - 2075. We continue to watch this area.
Resistance levels: 2048 - 2050
Support levels: 2038, 2030, 2020
From the point of view of range trading strategy, we should expect a fall after retesting the range resistance, as there is no actual trend and on the background of neutrality we can both buy and sell, but inside the range.
Regards R. Linda!
GOLDEN STAR| hard Resistance zone -With increasing buying pressure, the price of gold was able to pass the resistance area (2038) upwards.
-Currently, the price has hit the next resistance level, which has also reacted to this area.
-My idea for the continuation of the trend is that this resistance zone will prevent the further growth of the gold price and this accumulation of liquidity will cause the price of gold to fall.
Share your opinion in the comments, and support the idea with a like. Thanks for your support!
GOLD → Consolidation on weak fundamental background FOREXCOM:XAUUSD remains within consolidation for several days. The market stands still due to the uncertain fundamental environment.
The CAPITALCOM:DXY stands in a narrow consolidation, but at the same time forms an ascending triangle, which can be interpreted as bullish consolidation, pushing the price to resistance with the aim of breaking the limit resistance level. If the dollar starts to strengthen, which is expected on the background of the pattern, gold will then start to realize the scenario we expect.
Fundamentally, on Friday and Monday, Fed officials made it clear to the market that Powell said nonsense about the rate easing discussion and started to put things in order: a rate cut is possible in March, but it is too early to discuss it now, as inflation is still high and a rate hike is possible.
Hence, this is a negative fundamental backdrop for gold. Gold is now in consolidation and heading towards resistance for a retest before a possible fall.
Support levels: 2023, 2020, 2010
Resistance levels: 2030, 2033.6
There is a high chance that after the resistance is retested, gold will start a downward phase, as below the above mentioned zones and below the lows there is an area of interest to the market maker - areas of imbalance formed on the background of the strongest rally a few weeks ago.
Regards R. Linda!
