UtoForex

UtoForex

The decline of the Australian dollar against the U.S. dollar was addressed in the previous analysis. However, the situation for this pair remains critical, and further declines are not unexpected. As shown on the chart, the next key support is at 0.6169. Yet, it seems likely that the pair may fall further, potentially rebounding from around 0.6, a historical...

UtoForex

The EURUSD pair declined as predicted in the previous analysis. Current fundamental conditions and the dollar's strength hinder the consideration of a bullish scenario for this pair. Additionally, no strong demand zones are currently visible on the chart. As a result, any upward moves in this pair are viewed as opportunities for renewed selling. Breaking the...

UtoForex

As anticipated in the previous analysis, gold experienced a decline. However, it appears another corrective wave, effectively wave C, may still be ahead. Before the next drop, a slight upward movement in gold prices is not unlikely, allowing sellers to re-enter the market. On the 4-hour time frame, supply zones have been identified. Gold may rise to around...

UtoForex

As noted in the previous analysis, the pair saw an upward movement and reached the 158 supply zone. Given the current fundamental conditions, we don't view a bearish scenario for this pair as likely unless the Bank of Japan intervenes in the currency market. Otherwise, if the pair experiences a correction, a buy opportunity may arise again. The valid demand zone...

UtoForex

Following the breakout of the 1.39 historical resistance and a pullback near this level, as noted in the previous analysis, the pair has continued to rise. On this time frame, the price is approaching the key 1.43 resistance, last touched on March 31, 2020. The reaction to this level will largely depend on dollar movements and the outcomes of the U.S. Federal...

UtoForex

With the breakout of the consolidation zone marked on the chart and its subsequent retest, an increase in oil prices is anticipated. On the 4-hour time frame, reaching the supply zone could trigger a price correction, creating conditions for a re-entry. In this scenario, retesting the $70 level may position oil for further upward movement.

UtoForex

In the previous analysis, we examined the supply zone around $2,730 and gold's pullback from this level. Given the strong bearish daily candle and the initial break of the trendline, a further decline in gold seems plausible. However, breaking the marked support zone on the chart will be the turning point for this scenario, providing stronger confirmation of a...

UtoForex

Considering the rebound from the marked demand zone, an upward move in the EURUSD pair is not unlikely. However, a bullish scenario for the pair becomes more convincing after breaking the 1.06 resistance level and retesting it. Otherwise, the bearish outlook remains intact. For a renewed selling opportunity, we need to wait for the marked demand zone to be broken...

UtoForex

On the daily time frame, two scenarios are considered if the $2,700 resistance is broken. The first scenario involves a reaction to the supply zone, leading to another decline in gold prices to around $2,620, as marked on the chart. The second scenario envisions gold continuing its upward movement after retesting $2,700, heading toward the previous high.

UtoForex

On this time frame, a bearish scenario is unfolding. As seen, the consolidation zone has been broken and then retested, ultimately closing the week with a red candle. It seems that a correction in gold from the current price is not out of reach. If gold prices rise, above the consolidation pattern this scenario will be invalidated.