Dollar to climb in the coming days . On the Daily chart the dollar seems to be re-testing a broken LH , possibly about to take the upper direction . This analysis is based on what seems to be happening on a larger view . Based on Technical Analysis , my anticipation is that the dollar will not drop bellow the indicated DEMAND ZONE !!!
A clear pattern or rhythmical movement of this market creating New Highs every time it lands on the same Support area . I am speculating on this market dropping to the significant Support area only to surge high all the way up to possibly create a New High .
1.We see the market failing to break above the trend-line ...closing off with a hanging-man candle last week ...its currently trading lower the close of the candle.
2. We also see the market failing to break above the LH ...considering that it has been surging towards that LH level in a correctional approach
Look at how the price delayed at previous bottoms creating some kind of price range if not inverted Head and Shoulders even where it now it has made the same delay creating some kinda inverted H&S .If price was going down it would have broken swiftly and aggressively to the down . I am thus taking a contrarian move looking at buying this pair just after a further drop .
USDZAR is speculated to regress for a while before it can plunge higher . This however is only reactionary as the general directional movement of this currency pair is North ,given the severe injuries in the South African economy resulted by the pandemic . This analysis makes sense as South Africa unlocks level 3 of the lock-down next-week Monday , which will at...
A contrarian move on Gold amid the rampant negative impact of covid-19 on particularly the US economy . The general outlook is that Gold will progress more higher as the US Dollar is forcasted to lose more strength, this however is just an anticipation of a little pull to the downside before Gold can plunge into more higher and higher heights .
A probable sell opportunity next week suitable for day trading . I am anticipating a little pull up before I can get on , with obviously confirmation on the Support/Resistance zone before entering . It's an opportunity with sound competative Risk to Reward ratio . At the entry level we have a confluence of a Horizontal and Diagonal resistance ,and a popular strong...
It might be that this index has completed wave 5 of the impulsive wave of the lower degree - thus completing wave 1 of the wave of a higher degree . It is likely then that the S&P500 will progress a deep correction (WAVE 2) before it can mount higher - COMPLETING WAVE 3 of a higher degree .
