Gold - Intraday Selling posted close to the previous high of 2726.0. 2721.3 has been pivotal. Offers ample risk/reward to sell at the market. Bearish divergence is expected to cap gains. Early optimism is likely to lead to gains although extended attempts higher are expected to fail. We look to Sell at 2718.5 (stop at 2738.5) Our profit targets will be 2668.5 and 2658.5 Resistance: 2724.5 / 2735.0 / 2750.0 Support: 2709.7 / 2700.0 / 2690.0 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
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I am still bullish on the LTF, let's get price liquidate some shorts before dropping back lower to 20700.
Here's my analysis of gold on the daily time frame. This is my perspective on how gold is performing.
This idea is an update to the head & shoulders initial trade idea. As depicted, head and shoulder structure has still been in intact in the consolidation period where both longs and shorts stop-loss has been liquidated. Today is critical which way we go. A break out above the liquidation zone (102,800) will signal cup & handle target of $120,000. Those who took short from this zone may re-enter and push prices back down towards head & shoulder target below the neck line of $89,318. Looking at a few indicators, I personally think a break out will fail. On the 1H time frame we have made 5 wave up to this previous sell off zone. RSI and Stochastic indicators are at overbought zone and cycle high level. Finally volume is declining or weakening. These are just my thoughts I am sharing. Thank you. Cheers to profitable trades
From a 4hrs timeframe you could see that the previous High to out a high before dropping that is to say, the previous High is valid for a reaction or a possible level for a reversal to the downside. From a 1hr timeframe price have already broken a trendline which also signifies a change in trend
A strong source of movement has been tapped, and the lower liquidity pools have been swept clean. The price has encountered an important demand zone. In the upper part of the chart, there are no strong order blocks visible, and the price has already dropped significantly, giving a prolonged corrective phase. It is susceptible to a bullish move. The targets are marked on the chart. A 4-hour candle close below the invalidation level would invalidate this analysis. For risk management, please don't forget stop loss and capital management Comment if you have any questions Thank You
EURCAD is currently trading at 1.484, with a target price of 1.505, indicating a potential gain of over 200 pips. The analysis is based on a support and resistance strategy, highlighting a key level of support where the price has recently bounced. A falling wedge breakout has already occurred, signaling a bullish reversal pattern. This breakout suggests increased buying momentum as the price moves away from the support. The support level appears to be holding strongly, reinforcing the likelihood of upward movement. Traders are targeting the next resistance zone near 1.505 as the projected price. The setup reflects a well-defined risk-to-reward ratio, favoring long positions. Monitoring price action at key levels is crucial to confirm the trend. Overall, the pair shows strong bullish potential based on technical patterns and market dynamics.
Hey Traders, in today's trading session we are monitoring Gold for a buying opportunity around 2688 zone, Gold is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 2688 support and resistance area. Trade safe, Joe.
NZDCHF Nearing Completion of Bullish Harmonic Pattern NZDCHF is about to complete a bullish harmonic pattern. The price found strong support near 0.5080, indicating the presence of a solid support zone. NZDCHF is also part of a larger pattern, increasing the chances for this bullish wave even more. Resistance areas are located at 0.5110, 0.5120, and 0.5232. You may find more details in the chart! Thank you and Good Luck! ❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️