NZDUSD
Last week we broke out support trendline to come meet our resistence level at 0.67192 before a nice 45 pip rally to retest the the support turned resistence.
There is news coming out on NZD pairs on Tuesday so we will watch this pair to see what it does. It is looking like either we will retest our support and reject the resistance before continuing to...
We are forming an ascending triangle on this pair.
While we have made 2 touches to the bottom, completing the market structure pattern, it looks to me as if we could attempt the trendline again, which goes hand in hand with the possibility of a small bullish push from XAUUSD. as these pairs are correlated, when one goes up, the other goes down.
We are also...
Forming a descending triangle on XAUUSD.
A lot of room to fall for this pair, all the way to 1160. Although we will be some weeks arriving to this point.
there seems to be an easy drop to about 1282.90 where we could either see a brake and retest, turning the support into resistance. Or we could respect the support and make another attempt at the descending trend-line.
Our lower low made contact with our lower Donchian Channels while also remaining under our mid range section. The larger gap between top and bottom Donchian Channels show large volume. Also we are well under our 100 day MA.. It looks like we may encounter some support from the 0.92814 region, but trade with this in mind and account for it. Keep an eye out for any...
Gold has been moving side ways since retesting to new heights. Brake out is likely to happen soon. We could see a pull back to the 1232-1243 regions before continuing back on our downward trend. From an older TA made back in June, I am holding on to the 1122 region lows over the coming months.
Another likely scenario is that we will brake to the down side...
