Gold is likely to appreciate considering the overbought situation on the USD index
US30 is likely to be bearish for a long time but we'll have to keep track and monitor reaction of price around levels to see what happens
USDCAD is currently showing strong momentum to the upside and we are more likely to see a continuation
US100 is in a strong downtrend and I will be using this analysis as a guide to follow price reaction
We see a very strong downtrend on the monthly with a strong break below structure and we are likely to see a correction before further continuation
USDCAD is currently showing signs of weakness on the 30min and I will be taking a short term sell position for now
US30 is currently in a distribution face and is more likely to be bearish if we see a break below level X
Price has failed to break below support for a long time and we are likely to see a bearish flow IF it does
GBP/AUD is currently in a bullish recovery after a strong down trend, we are currently seeing signs of a reversal considering current price action let's monitor price reaction closely to see where the market takes us.
USD/JPY is currently on a strong Uptrend which clearly looks like an overbought situation on the hourly timeframes we will need strong confirmation to go short on smaller timeframes
Let's see how price reacts to the levels, let price action be our guide for now
US100 is currently on a strong downtrend, and currently at the climax of an accumulation stage, we will be looking for price reaction below structure to see the way forward.
XAU/USD is currently is current in an accumulation stage and if we see reactions around marked levels, we may consider going long
GBP/USD is currently on a strong downtrend from the weekly perspective but considering current price action we may see price bullish if we see price rejecting current support level on the daily.
AUD/USD currently looks overbought though still in a very strong uptrend, a strong confirmation will be needed to go short and therefore I will be looking for price reaction below the marked out zones for strong confirmation to sell
From my study of price action from the daily timeframe I observed the following 1.From 1st March to the 8th March we saw price very bullish 2.From 9th March to 15th March we saw price strongly bearish 3.From the 16th March to 31st March we saw price play within a range Currently i'm looking foward to how price will react below the range, i'm anticipating a...
The idea of my analysis is simple as usual, we see gold currently in a range and I'm waiting for either a break above or below structure to make a trade decision with confluence from the higher timeframe.
The Dow has been bearish for the most part this year, and I believe we're about to see a bullish recovery in the long term considering current price action.