Happy new year fellow traders. Gold has closes at a resistance level of ATH after the fake breakout.
The precious metal is yearly until daily close. will price continue the range from the M1 to 1600.
Bitcoin has been respecting the ascending channel. now that Price has reached the upper trendline is the coin going to reverse or break to 50K.
Gold is now at critical situation following the declination toward 1945 support ahead of jobless claim.
The GBP is at 50% Fib. level and a clear retest of a double bottom. given the situation with DXY, we can see a bit more of a upward trend, or Price maintain the accending channel.
Gold just tested the 1950 level any breakout below the support level we will see a bearish pressure toward 1900. if price fail to break and up side movement we might see 2000+ price level before market close.
As a mentioned from my previous idea that after a successful breakout and retest of the monthly candle the GBPUSD might begin the bull form NFP today. A successful bullish candle rise from 1.2200to 1.2300+.
Following Oct,7 War by Israel's we've seen a strong bull momentum throughout the month breaking 2000, as the WAR entered stage two we might see ATH very soon. UN had voted for ceasefire but the IDF chose to carry on with the WAR.
The pounds is holding at resistance turned support. Upward trend is possible as the Market NFP is near
The Bitcoin is holding onna strong resistance a $34K, any form a break out upward, the coin might probably hit the 50K resistance.
Gold can continue rally until 2000 given the following crisis.
Following the massive uptrend of DXY a continuation of bullish trend after NFP report shows a little pullback toward the trend line at 106.
Following the price action we might see a push back on coin at the support level turned resistance.
Even after the NFP TVC:GOLD is stuck at 1823. The strong daily support could change the direction
Gold mostly to reserve or denies. following NFP tomorrow and the current bullish of the DXY.
The Gold on monthly shows a distribution phase toward 1600. If market retest the 1800 support zone.
Two possible scenario on TVC:GOLD , lets check on the bear as DXY is trading bull.
TVC:GOLD is facing selling pressure ahead of new month weekly trend line shows last of bulls, lets see what gold take next.