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A-flat

GOLD → Price dump before NFP. Will we go to 2400?FX:XAUUSD is manipulatively declining and catching buyers by surprise (liquidation) before the news. Price may start a strengthening phase from strong support (2330-2325) on the back of weak dollar Traders are waiting for NFP to be released at 12:30 GMT. Yesterday, the market received 229K on Initial Jobless Claims, which generally gives hints of a possible scenario. The dollar index may continue to lose ground amid the general environment, markets are slowly but already starting to prepare for Fed policy easing. NFP is expected to be 183K vs. previous 175K, but the focus is on the actual data. If those are below the expected 183K, the dollar will break key support and fall under a wave of sell-offs, which would be a favorable scenario for gold. But, the problem with news is its unpredictability. Data above 185K may strengthen the dollar (But not for long). Resistance levels: 2354, 2374 Support levels: 2328 There is liquidation and strong selling by buyers, but it happens before the news ( there are interesting thoughts, but... ). Below 2328 the price may not be allowed (from a technical point of view) and it would be logical to expect a false breakdown or a rebound from the liquidity block to which the price has approached. Regards R. Linda!
FX:XAUUSDLong
by RLinda
20
GOLD → ECB rate and NFP in the US. What to expect?FX:XAUUSD is supposedly ending the correction wave on the background of fundamentally weaker dollar. ECB rate and US news (Initial Jobless Claims & NonFarm Payrolls) ahead The European Central Bank is expected to cut interest rates for the first time since March 2016 at the end of its June policy meeting later today. Meanwhile, markets now have a better chance of an imminent Fed rate cut amid signs of a slowing US economy. Ongoing geopolitical tensions in the Middle East, continue to act as a safe-haven price for gold. Also, everyone is interested in the NFP (as one of the first signs of the Fed's readiness to loosen the policy), which will be published on Friday. Technically, gold is forming a false break of MA-50 on D1, and breaking trend resistance on H1. All eyes are on the near-term support at 2354-2350 Resistance levels: 2374, 2405 Support levels: 2354, 2350. 2328 Possible support retest (false breakdown or intermediate struggle), which may lead to strengthening of the price. On the background of news, volatility may increase. Regards R. Linda!
FX:XAUUSDLong
by RLinda
8
GOLD → The market is waiting for the news. What could happen?FX:XAUUSD in consolidation ahead of the news. The price after strong sell-offs is accumulating potential, traders are not doing anything yet, at the same time the dollar is breaking trend support. Stalemate situation. A consolidation range is marked on the main chart. It is acceptable to trade from the boundaries of the range either breakout or false breakdown. The complexity of the overall situation is that the news is an unpredictable part of trading. On the technical side: Gold is weak, there is no strong buyer in the market yet (Maybe they are waiting for news). But based on TA, I would see the market as preparing for a break of 2325 followed by a fall to 2300-2275. Fundamentally, the US still has high inflation and the regulators will not let the dollar fall much. DXY is breaking the upside support (which is supposedly a downside signal) but it still has not reached the support and liquidity zone, which is also a sign of a strong index. Resistance levels: 2341, 2351 Support levels: 2325, 2315 Based on the technical behavior of the gold price, a break of 2325 and consolidation of the price below this area will provoke sales. Breakout of 2345-2350 will provoke buying. The situation is complicated by the upcoming news. Regards R. Linda!
FX:XAUUSDShort
by RLinda
20
GOLD → Consolidation before NFP. What to prepare for?FX:XAUUSD is strengthening after a false breakdown of range support and is testing resistance with a subsequent bounce. Price is forming a flat and is not ready to go up or down yet. There are reasons for this: Traders are waiting for news that will start to be released in the second half of this week starting Wednesday. The focus is on ISM PMI, Initial Jobless Claims, NFP. Accordingly, I would recommend watching the flat for now: 2354 - 2328 (2320). Most likely the price will be inside this consolidation for some time, the dollar is also standing still. Perhaps there will be an attempt to breakout (false breakout) or even a retest of more distant levels, but in general, due to the fact that there are no major players in the game yet, who are not eager for pre-temporal action, the price will consolidate within the specified range. Resistance levels: 2354, 2374 Support levels: 2328, 2322, 2315 A quick approach to the liquidity zone may lead to a rebound or a false breakdown, accordingly, there is a chance to see local strengthening. We are looking at an intra-range trading strategy. Regards R. Linda!
FX:XAUUSD
by RLinda
5
BITCOIN - Price can continue to fall to support level in flatHi guys, this is my overview for BTCUSDT, feel free to check it and write your feedback in comments👊 A not long time ago price entered to wedge pattern, bouncing down from resistance line and breaking $62200 level. But then, BTC made upward impulse to $66600 level, breaking $62200 level, and even soon broke $66600 level too. Next, price continued to move up and in a short time later exited from wedge and even entered to resistance area. After this, Bitcoin turned around and started to trades in flat, making a fake breakout of $70700 level. Recently price fell to support level, but then bounced up and now it tardes almost near top part of flat. At the moment, I think price can make upward movement first, and then continue to fall to $66600 If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon
4
GOLD → Correction for liquidity. Should we wait for the fall?FX:XAUUSD has been updating the low to 2314 since the opening of the session and is forming a correction within which it is testing the previously broken consolidation support. The fall may continue from the liquidity area. The fundamental and technical background for gold is negative at the moment. A possible area of interest for the market may be the area of 2305 - 2280. Accordingly, based on the general data, we can assume that a retest of the resistance area 2328-2336 may end in a false breakdown with a subsequent decline to the targets indicated on the chart. There is a possibility of price entry into the range and an attempt to rise to 2354, but in general, it will be regarded as an attempt to gather a more liquid position before reaching a global and promising target. Let me remind you that globally we have a bullish trend, within which a local bearish trend is forming. Resistance levels: 2328, 2336, 2354 Support levels: 2306, 2285 It is worth to keep an eye on the mentioned resistance areas. False breakdown followed by price consolidation below the mentioned zone will be a confirmation of bears' readiness to go down. Regards R. Linda!
FX:XAUUSDShort
by RLinda
5
GOLD → The calm before the storm. 2400 or 2200?FX:XAUUSD reduces volatility and shrinks into a narrow range before the news. US GDP did not play any role and traders are waiting for the general fundamental background. Locally, the downtrend. The trend is downtrending, but on yesterday's news the price is trying to break the channel resistance, forming a consolidation of the price above the line. But if the price returns to the channel, due to the formed consolidation, the market may see a strong momentum towards 2280. Ahead of the news, traders are waiting for PCE. But, the market believes that the index will remain at the same level and this generally complicates the situation because if in fact the situation changes it may trigger a violent reaction Resistance levels: 2354, 2374 Support levels: 2328, 2306 Globally bullish trend, but there is no strong buyer yet. Everyone is waiting for the news. Locally the trend is bearish, to confirm the change of the trend to a local bullish one, the price should overcome the area of 2354 - 2364 and consolidate above, in this case - the way to 2400. But, a break of 2328 will make the market panic Regards R. Linda!
FX:XAUUSDLong
by RLinda
14
EURO - Price can reach resistance area and then bounce downHi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 A not long time ago price entered to rising channel, where it rose to support level, but at once bounced down. Price fell to support line of channel and then made upward impulse to resistance line, breaking $1.0740 level. Then Euro corrected to support level and then in a short time rose to $1.0875 level, exiting from rising channel. Euro started to trades in flat, and firstly it made fake breakout of $1.0875 level, after which declined to bottom part of flat. Soon, price rose to resistance area, after which turned around and recently fell below, making fake breakout again. Now, I think that EUR can rise to resistance area and then bounce down to $1.0805 bottom part of flat. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon
4
GOLD → The news will determine the medium-term outlookFX:XAUUSD is updating the low and forming a false break of support. Fundamental and technical background is negative. A quick retest of 2328 may lead to a fall, but there is NEWS ahead! Before the news, gold goes into a local flat 2360 - 2330. The market is gathering potential and liquidity before the news. GDP and Initial Jobless Claims are ahead. This time traders expect an extremely low GDP: 1.6% This is generally negative for the US market, in general this figure is logical based on general market indicators, but traders pay attention to the actual data. It is also worth paying attention to Initial Jobless Claims. Technically, under the current circumstances, a decline is possible after a retest of resistance. But, if the news is contradictory, the price may break the resistance, consolidate above 0.236 Fibo and head towards 0.618 (25-30% probability). Resistance levels: 2343, 2347, 2354 Support levels: 2335, 2328, 2306 The gold market is dominated by bears on the background of general economic conditions. Globally, the trend is still bearish and a correction is forming within it. Today is a purely fundamental day and you should not get into the market before the news. Regards R. Linda!
FX:XAUUSDShort
by RLinda
7
GOLD → Break of the support of consolidation. Next is 2300?FX:XAUUSD is still bearish. The price is trying to leave the corrective range, which is formed after the false breakdown of support. The market is preparing to go lower. On the 1H timeframe it is becoming clear who is showing dominance in the market. There is no strong buy yet, apparently, before the GDP and PCE publication on Thursday and Friday, no one dares to enter the market early. (Presumably, the dollar may get another dose of support, which could weaken gold even more). I think that in the short term the price may retest 2335. Resistance levels: 2354, 2364 Support levels: 2335, 2328, 2306 Consolidation of the price below the previously broken local uptrend support (dotted line), will be a confirmation of the market's intention to go down. A quick retest of 2335 may lead to a break of support and further fall to 2300 Regards R. Linda!
FX:XAUUSDShort
by RLinda
6
EURUSD → False resistance breakout. Decline to 1.075?EURUSD is testing range resistance and forming a false breakout with further confirmation of the boundary. The bears are strong and are not letting the price beyond 1.0884 yet. On Thursday and Friday strong and important news are published. Traders are interested in US GDP and PCE. There is a high probability to see data that could be bullish for the dollar in the current circumstances. As for EURUSD - trading inside the range may continue. Technically, I am waiting for a bounce from the local trend support and a retest of the resistance before a further decline. Resistance levels: 1.0884, 1.0942 Support levels: 1.0802, 1.0736 False break of resistance is a confirmation that the price is not ready to go up yet. A breakdown of the scenario is possible, if the price breaks through and consolidates above 1.0884, but there are no reasons for that. We expect a breakout of 1.0836 with the purpose of further fall. Regards R. Linda!
Short
by RLinda
2
GOLD → Consolidation before distribution. $2,400 or $2,300?FX:XAUUSD after a false breakdown of the support of the range is forming a correction, but within the upward consolidation channel. The fundamental background is still negative. There is no strong news in the next two days, so the fundamental background remains the same. There is no strong buyer on the market yet and thus, gold may continue its downward movement if it breaks through the support area: the rising line or the approximate area of 2340. A break of the local uptrending support line will move the market into the realization phase, which will be a continuation of the decline. The structure may be broken if the price rises and consolidates above 2354. In this case, the price may head towards 2374. Resistance levels: 2354, 2358, 2370 Support levels: 2340, 2335, 2325 I expect that with high probability the decline may continue. But in the phase of waiting for strong news (Thursday and Friday), the market may gather liquidity. Regards R. Linda!
FX:XAUUSDShort
by RLinda
6
GOLD → Correction after strong sell-offs. What's next?FX:XAUUSD is trading in the range of 2335-2397. Bulls are trying to keep the price from falling, countering the market in the 2330-2340 area. A rebound may reach local liquidity zones. At the moment the market is bearish but also volatile. Any news could have a strong impact on the dolar and gold. In the mid-term, since after a false break of support a rebound is forming, which is developing within a possible fourth wave, this movement may reach the local liquidity areas 2354, 2368 before a possible further fall. It is worth paying attention to the nearest resistance areas and any market reaction in the form of weakness may give a corresponding reaction - a decline. Resistance levels: 2354, 2368, 2374 Support levels: 2335 Today is a holiday in the USA and the market volatility may be low. A correction is forming, the purpose of which is to collect liquidity. The fall may continue from local reversal zones. Regards R. Linda!
FX:XAUUSDShort
by RLinda
6
GOLD → There is no big buyer in the market. Moving to 2300?FX:XAUUSD continues to update lows amid a bearish wave based on fundamental (economic) reasons. The market after a pullback may be willing to continue falling. On D1 the outlook and situation is in the hands of bears. There is no big buyer on the market, who could turn the market around (not yet). Accordingly, a correction is forming due to liquidity captured by the false breakdown relative to 2335. Within the counter-trend correction, the price may test the density zone of 2354 before further declines. A pre-breakdown consolidation or a quick retest of 2335 will form the potential for further decline. Resistance levels: 2354, 2374 Support levels: 2335, 2306 False breakdown and stop from 2335 is most likely temporary. Keep an eye on local resistances, a false breakdown could be a motivation for sellers. Regards R. Linda!
FX:XAUUSDShort
by RLinda
4
GBPUSD → A false breakout draws a pin bar. Sellers are winning FX:GBPUSD is forming a test of the resistance level at 1.271. There is a struggle for the level during the week and apparently the sellers are winning (pinbar is formed and consolidation under the level). Technically, the downtrend was broken earlier, but there was no confirmation of the boundaries and confirmation of the trend change, so the area of 1.271 may become the zero point for the beginning of the correction. The currency pair on the background of fundamentally strong dollar may go down to 1.2664 with the subsequent breakout and fall to 1.257. Overall, the environment is unstable due to high inflation and regulators' decisions. Resistance levels: 1.271, 1.28 Support levels: 1.2664, 1.257 I expect the beginning of correction to the support area, although the bearish channel was broken earlier, but there are no strong bulls in the market yet. Regards R. Linda!
Short
by RLinda
10
GOLD → The mood has shifted to bearish. A correction?FX:XAUUSD is forming a bearish wave, within which it is declining from 2400 to 2350. The price is testing strong support amid the changing sentiment. Within a bullish trend, after testing the high of 2450, the market catches up with a correction wave based on fundamentals. The market is caught by a wave of sell-offs, which can be continued after a pullback and retest of local areas of liquidity. From 2354 we expect a rebound to the above-mentioned areas and further we should follow the price reaction to the liquidity areas. Initial Jobless Claims and Purchasing Managers' Index are ahead. Traders are neutral towards the dollar, but amid the general policy, the dollar index may get support, which may have a peculiar effect on the gold, until the market finds new reasons to rise. Resistance levels: 2374, 2383, 2397 Support levels: 2354, 2336, 2306 Technically and fundamentally the market is still bullish, but a correction is forming within the uptrend, which may take a little longer. Regards R. Linda!
FX:XAUUSD
by RLinda
13
USDCHF → False breakdown gives bullish momentum ↑FX:USDCHF is forming a false breakdown of range support and uptrend, which opens the market to buy potential. CHF is weakening stronger than the dollar and this could support the uptrend. On D1, the price tested the MA-50 ascending average with a false breakdown, as well as a strong support area at 0.900. Liquidity capture and candlestick set-up form the price reversal and bullish momentum, which, from the point of view of trading inside the range, can lead the price to the upper boundary - 0.9216 Resistance levels: 0.910, 0.915, 0.9216 Support levels: 0.9075, 0.900 A break through the nearest zone 0.910 will accelerate the price strengthening. The bullish trend may continue. Regards R. Linda!
Long
by RLinda
9
BITCOIN - Price can bounce down to $65700, exiting from flatHi guys, this is my overview for BTCUSDT, feel free to check it and write your feedback in comments👊 Recently price broke $62800 level, which coincided with support area, but later started to grow in rising channel. In this channel, BTC in a short time rose to $62800 level, but at once made correction move to support line. Soon, price turned around and made upward impulse, breaking $62800 level, and continued to grow in another rising channel. Later Bitcoin reached $69200 level, which coincided with one more support area, and soon broke this level. Price exited from rising channel and started to trades in flat, where at the moment it continues to trades. So, I think Bitcoin can make small move up and then bounce down to $65700, exiting from flat and breaking support level. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon
6
GOLD → Traders don't know what to do. Struggle for 2417FX:XAUUSD is stopping and forming a consolidation between 2400-2450, but at the moment the consolidation resembles a descending triangle. What's going on? The price breaks the local ascending support line in the correction phase, which makes traders panic (some start selling, others start actively buying). But the candlestick setup suggests that the buyer is still in the game. The market maker may shake down to liquidate traders. A retest of 2407-2400-2397 (ascending support line) is possible before further growth. The trend is bullish ( locally and globally ), while the market is waiting for the FOMC speech, which will be held today at 18:00GMT Resistance levels: 2417, 2426 Support levels: 2406, 2400 FOMC comments may warm up the crowd. Gold traders are in neutral stance for now and forming a range due to lack of understanding of the local environment. Consolidation above 2417 will renew the bullish potential. Regards R. Linda!
FX:XAUUSDLong
by RLinda
23
GOLD → Fighting for levels. When do we go to 2500?FX:XAUUSD is forming a correction to the liquidity area after ATH update. To continue the growth the market needs to get confirmation from the bulls. The price still looks quite confident. A corrective wave is being formed, confirming the end of the impulse bullish wave and the market's readiness to go for a fifth, which in general determines the medium-term prospects for us. The strong support area is the zones: 2417, 2400. Most likely, before further growth, the market may test these liquidity zones, but, a good signal and confirmation of readiness to go up will be the closing and consolidation of the price above 2417 and 2431. Support levels: 2417, 2497, 2397 Resistance levels: 2431, 2437, 2450 Now there is a struggle between traders for strong levels, fundamentally and technically the bulls have the advantage, it is necessary to wait for confirmation on the chart, in order to take some measures for trading. Regards R. Linda!
FX:XAUUSDLong
by RLinda
9
BLURUSDT → Trend break and positive fundamental background BINANCE:BLURUSDT breaks the trend resistance and forms a retest of the upper flat boundary, which will keep the bulls from strong growth for some time. A pullback is possible before further growth The cryptocurrency market is reviving on the back of bitcoin rally as well as Ethereum rally due to positive news. As for BLUR: The coin is breaking resistance, but ahead of it is a strong area 0.4367-7375 - the upper boundary of the pullback or flat, previously there was a strong trend and bears are quite actively defending this zone. A small pullback or consolidation may be formed, the market needs to gather liquidity to overcome this area. Support levels: 0.36 Resistance levels: 0.4367, 0.4375 The market is forming a trend change signal, but we need to wait for its confirmation: consolidation above 0.4367. This may cause a rally to 0.6 - 0.7. Regards R. Linda!
Long
by RLinda
2
GOLD → Are the bulls ready to break through 2430 and go ↑ ? OANDA:XAUUSD on the background of weak dollar and favorable fundamental background realizes the accumulated potential after breaking through resistance. The price is testing the global resistance of 2431. The market is bullish again, which was supported by economic news, mainly related to inflation. Technically, the gold is again interested in strong buyers after the correction phase, which ended at the moment of the beginning of the realization of the bullish pattern, as well as the confirmation of the bulls. In general, this movement can be continued, as the general background is favorable for the gold market In the coming week traders are interested in such news as: - Powell's speech on Monday - FOMC meeting minutes on Tuesday - Initial Jobless Claims on Thursday Resistance levels: 2417, 2431 Support levels: 2400, 2375 Technically, the price may test the ATH on Monday, but a bounce or a false breakdown may be formed afterwards, which will lead to a small correction. A quick retest of 2431 could lead to a breakout and further growth Regards R. Linda!
OANDA:XAUUSDLong
by RLinda
11
GOLD - Price can bounce down from resistance area to $2340Hi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊 Some days ago price started to grow inside rising channel, where it soon reached support level, which coincided with support area. Soon, XAU broke this level, made retest, and rose to $2285 level, making fake breakout, after which exited from channel also. Next, Gold started to trades inside flat, where it firstly fell to $2420 level, after which started to grow. In a short time, Gold rose to resistance level, which coincided with top part of flat, and tried to break this level, but failed. Now, price continued to trades near this level and I think that price can enter to resistance area and then bounce down to $2340 If this post is useful to you, you can support me with like/boost and advice in comments❤️
OANDA:XAUUSDShort
by WalterMoon
4