Please don't take this as a signal this is just my analysis. Bouncing between the channel for the majority of the year, also coincides with 200MA resistance - my theory is this will be the last bounce off of the top of the channel. However, with current 'trade war' talks gold could see a bounce to the upside.
Aiming to short at Market 1285.50
TP1 - 1275
TP2 -...
Please don't take this as a signal this is just my analysis. Currently sat in this years demand zone and bottom of RSI.
Fundamentals - Be aware of the Australian Interest Rate decision (Tuesday 07/05/2019) which may see a break of 77.600 to the low side if it is bad news, or will bolster the long opportunity if it is good.
Technical - Could potentially drop as...
Please don't take this as a signal this is just my analysis. Long opportunity around the 111.00 level. Has been moving in the purple uptrend for sometime, supported by level and trend resistance and double bottom on chart and RSI 30.
I will be aiming for TP around 112.00 so just shy of 100 pips, I will be placing my SL around 110.55 due to stop hunting by banks...
Please do not take this as a signal this is just my analysis. Long opportunity around purple box (1.33890 ish) is where I predict a good long opportunity, supported by 200 EMA, trend line, and previous resistance-to-support switch in the last few sessions. If purple box is broken, there will likely be a retest of the same area and a lower risk long from the green...
Please don't take this as a signal I am a complete amateur.
Been moving in the channel for some time, awaiting FED data tomorrow but off a purely technical analysis I think a short is coming, thoughts?
