Clearly we are in an uptrend, and we wanna be looking for buy positions in an uptrend. So its safe to say we should buy low.
So before taking a buy we wanna see a shift in market structure from the current temporary downtrend to the main trend which is an uptrend.
If this does not occur then the market is just going to keep selling and coz a change in trend.
All I can say here, I've been long waiting for this pair to get here for months now because this point here is a very critical level for the exhaustion of the bulls, so from technical perspective I'm expecting a push downward from here. Not a financial advise though, we know how the fx world operates
Currently making a retest to the neckline of the double top formation on the daily time frame to signify a change of the uptrend to a down trend. So more down side for the eurusd from technical perspective
A bullish bias judging from the weekly time frame. From the 4hr, we can clearly see a break of an area of consolidation
So a retest of that consolidation area to go long
Gold is at a very critical zone awaiting fomc statement so it either a bullish or bearish movement. But I would focus more on sell due to the strong bullish movement on the dollar index and also a bigger picture downward trend.
Gold is at a very significant level for either a turn or a bullish trend continuation. To keep it simple and straight to the point, if gold was to close above the 2036.95 level then its a continuation of the bullish which align with the bigger time frame. But if we're to reject that 2036.95 level, then it's a turn to the downside
Expected bearish movement from AUDUSD
From the 4hr time-frame, am expecting to see a right shoulder formation to complete the head and shoulders pattern to head downwards to 0.64693
