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Bearish drop?EUR/USD is rising towards the resistance level which is a pullback resistance that aligns with the 38.2% Fibonacci retracement and could drop from this level to our take profit. Entry: 1.0550 Why we like it: There is a pullback resistance level that aligns with the 38.2% Fibonacci retracement. Stop loss: 1.0598 Why we like it: There is an overlap resistance level. Take profit: 1.0496 Why we like it: There is a pullback support level. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Short
by VantageMarkets
AUDJPY Correction to the Down side after channel breakoutAUDJPY has recently broken and closed above a descending channel, indicating a potential shift in momentum. However, the overall market trend remains sideways, suggesting consolidation. The price is approaching a resistance level near 101.00, where previous sell-offs occurred, indicating that bears may be active in this zone. If the price rejects this resistance and the upward trendline, a decline toward the support zone around 100.75 is possible. Given the current sideways movement, the market may bounce off the top of the range and subsequently move toward the channel border. Monitoring price action around the 101.00 resistance level will be crucial to confirm a potential reversal
Short
by RTED_Investing
XAU/USD : More Fall Ahead ? (READ THE CAPTION)Analyzing the #Gold chart on the 4-hour timeframe, we notice that today’s market opened with a positive price gap between $2563 and $2566 . These types of gaps often act as magnets for price action, as markets tend to fill such gaps over time. Based on the current bullish momentum, I expect a price correction in the near future to fill this gap. Looking deeper into the structure, we can see that gold’s recent rally has managed to fill the Fair Value Gap (FVG) from the previous bearish move to a significant extent. However, it still has room to climb and fully fill the gap at $2606. This level could serve as a critical zone where we might observe a strong price reaction . Keep this level on your radar—it could either confirm a continuation of the bullish trend or trigger a reversal. From a broader perspective, the ongoing geopolitical tensions in the Middle East and the Ukraine-Russia conflict continue to provide a safe-haven bid for gold. These factors have been instrumental in driving demand, even as the US dollar shows signs of consolidation after its recent strength. On the macroeconomic front, recent data showed strong US retail sales for October , indicating resilience in the economy. However, there’s growing uncertainty around the Federal Reserve's policy direction. Markets currently price in a 65% probability of a 25bps rate cut in December, which could weigh on the dollar further and provide support for gold in the medium term. From a technical standpoint: 1. Gold remains in a bullish structure, but short-term corrections are expected due to overbought conditions and the need to fill the gap at $2563-$2566. 2. The $2606 level acts as a magnet for price, as it marks the full closure of the previous FVG. Monitor this level closely for signs of rejection or continuation. 3. In case of a rejection at $2606, a retest of support levels near $2545-$2550 could be on the cards, aligning with the gap fill. Key Levels to Watch : - Support: $2563 (gap low), $2545 - Resistance: $2606 (FVG top), $2620 To summarize, while gold’s rally has been impressive, the presence of both the unfilled gap below and the remaining FVG above suggests that the market could be at a pivotal point. Watch these levels carefully, as they are likely to guide gold’s next move. Previous Analysis : Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me ! Best Regards , Arman Shaban
OANDA:XAUUSDShort
by ArmanShabanTrading
47
EURJPY bottomed on the 1D MA50. +5.40% upside potential.The EURJPY pair has been trading within a Channel Up pattern since the September 16 Low. Yesterday it made a Higher Low on the 1D MA50 (blue trend-line) and rebounded. This is identical to the post December 07 2023 Channel Up, which was also supported by its 1D MA50 until its very top (July 11 2024). The 1D RSI sequences between the two fractals are also similar and even more importantly the Channel Up patterns appear to have a high degree of symmetry. So far the two Bullish Legs have risen by +5.40%. As a result, we are expecting another +5.40% from yesterday's bottom, so our Target is just below it at 170.000. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
1
GBPJPY First 1D Golden Cross after 19 months. Strong BUY.The GBPJPY pair is forming today a Golden Cross on the 1D time-frame, the first such pattern in exactly 19 months (April 21 2023). Naturally this is a huge bullish signal alone, as technically the Golden Cross calls for upside action. But more specifically for this pair's price action, it indicates the high probability of an immediate aggressive push as the current formation is very similar to the April 2023 one. As you can see, both were trading within a Channel Up up to the moment of the Golden Cross, having started after a 1W MA100 (red trend-line) test. The 1D CCI trading on Higher Lows below -100.00 (oversold) is a confirmation that the price Channel Up breaks aggressively to the upside. The previous Golden Cross pushed the price just above the 3.0 Fibonacci extension, to a +18.40% rise. Throughout this time, the 1D MA50 (blue trend-line) was supporting the uptrend. As a result, we turn long now on GBPJPY, targeting 215.000 (just above the 3.0 Fib extension). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
#GBPNZD 4HGBPNZD 4-Hour Analysis The GBPNZD pair is trading within a downtrend channel on the 4-hour chart and is nearing the channel's lower support line. This support zone has historically provided opportunities for bullish reversals within the channel. Waiting for the price to touch this level ensures a safer entry for a potential buy position. Technical Outlook: - Pattern: Downtrend Channel Support - Forecast: Bullish (Wait for Support Touch, Then Buy) - Entry Strategy: Enter a buy position near the channel’s support line after confirmation of a reversal signal. Traders should watch for confirmation through bullish candlestick patterns or indicators like RSI reflecting oversold conditions. Proper risk management is essential, with stop-loss orders placed below the support line to guard against a potential breakdown. Targets can be set at the midline or upper boundary of the channel for potential profit.
Long
by PIPSFIGHTER
#AUDCAD 4HAUDCAD 4-Hour Analysis The AUDCAD pair is approaching the lower boundary of a well-defined channel on the 4-hour chart, which acts as a key support level. This support zone has historically triggered bullish reversals, but waiting for the price to touch the channel support ensures a more reliable entry point. Technical Outlook: - Pattern: Channel Support - Forecast: Bullish (Wait for Support Touch, Then Buy) - Entry Strategy: Buy near the channel support line after confirmation from price action. Traders should look for bullish signals such as a reversal candlestick pattern (e.g., bullish engulfing) or indicators like RSI showing oversold conditions to validate the buy setup. Proper risk management is crucial, with stop-loss orders placed below the channel support to protect against potential breakdowns. Target the upper boundary of the channel as the next resistance level.
Long
by PIPSFIGHTER
Hellena | GOLD (4H): Long to resistance area of 2646.Dear colleagues, I believe that the price will complete the correction very soon and the upward movement will start. I think that wave “C” is almost complete. The support area is quite wide (2512), because it is from these levels we should make a conservative entry into a long position. But there is a possibility that the price has completed wave “C” at 2537. In this case, the upward movement has already started. I am still inclined to the fact that the price will renew the minimum, but the target in any case is the resistance area of 2646. Manage your capital correctly and competently! Only enter trades based on reliable patterns!
OANDA:XAUUSDLong
by Hellena_Trade
10
Hellena | Oil (4H): Short to 100% Fibo lvl 62.238.Colleagues! If we believe the wave pattern, the price is now in a strong impulsive downward movement. I believe that the price will renew the lows and rush to the area of 100% Fibonacci extension to the area of 62.238. Wave 3 lower wave should be completed there. But we should not forget that the price is in wave 3 of the higher and middle order, which means that there are more chances for a downward movement! There are 2 possible courses of action: 1) The riskier one is to open a short position on the market. 2) Conservative - wait for the price to rise, and enter with less risk. Manage your capital correctly and competently! Only enter trades based on reliable patterns!
PEPPERSTONE:SPOTCRUDEShort
by Hellena_Trade
38
Bullish bounce off 61.8% Fibonacci support?The Loonie (USD/CAD is falling towards the pivot which has been identified as a pullback support and could bounce to the 1st resistance which acts as an overlap resistance. Pivot: 1.3938 1st Support: 1.3898 1st Resistance: 1.4032 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets
1
Potential bullish rise off pullback support?EUR/NOK is reacting off the pivot and could rise to the 38.2% Fibonacci resistance. Pivot: 11.62697 1st Support: 11.57462 1st Resistance: 11.72053 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets
1
Could the price reverse from here?CAD/CHF is rising towards the pivot which is a pullback resistance and a reversal from this level could indicate a double top pattern which might lead to a potential price drop to the 1st support. Pivot: 0.63555 1st Support: 0.63121 1st Resistance: 0.63754 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Short
by ICmarkets
Falling towards the 38.2% Fibonacci support?AUD/CHF is falling towards the pivot which is an overlap support and could bounce to the pullback resistance. Pivot: 0.57525 1st Support: 0.57174 1st Resistance: 0.57925 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets
Potential bullish rise?AUD/NZD has reacted off the pivot which has been identified as a pullback support and could rise to the 1st resistance that lines up with the 161.8% Fibonacci extension. Pivot: 1.10419 1st Support: 1.10050 1st Resistance: 1.10856 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets
Could the price reverse from here?NZD/JPY is rising towards the pivot which is a pullback resistance and could reverse to the 1st support which acts as a pullback support. Entry: 91.99 1st Support: 91.10 1st Resistance: 92.44 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Short
by ICmarkets
Potential bullish rise?USD/ZAR has reacted off the pivot which has been identified as an overlap support and could potentially rise to the 1st resistance level which acts as a pullback resistance. Pivot: 17.9840 1st Support: 17.8118 1st Resistance: 18.3280 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets
Bullish reversal off pullback support?USD/CAD is falling towards the support level which is a pullback support that is slightly above the 61.8% Fibonacci retracement and could bounce from this level to our take profit. Entry: 1.3952 Why we like it: There is a pullback support level that is slightly above the 61.8% Fibonacci retracement. Stop loss: 1.3900 Why we like it: There is an overlap support level that lines up with the 78.6% Fibonacci retracement. Take profit: 1.4003 Why we like it: There is a pullback resistance level that is slightly below the 38.2% Fibonacci retracement. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Long
by VantageMarkets
Bearish drop?AUD/CAD is reacting off the resistance level which is an overlap resistance and could drop from this level to our take profit. Entry: 0.91125 Why we like it: There is an overlap resistance level, Stop loss: 0.91526 Why we like it: There is a pullback resistance level that lines up with the 50% Fibonacci retracement. Take profit: 0.90536 Why we like it: There is an overlap support level. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Short
by VantageMarkets
Potential bullish rise?AUD/CHF has reacted off the resistance level which is an overlap resistance and could potentially rise from this level to our take profit. Entry: 0.57510 Why we like it: There is an overlap resistance level. Stop loss: 0.57220 Why we like it: There is a pullback support level. Take profit: 0.57984 Why we like it: There is a pullback resistance level that is slightly above the 61.8% Fibonacci retracement. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Long
by VantageMarkets
Bearish reversal?NZD/JPY is rising towards the resistance level which is a pullback resistance that aligns with the 78.6% Fibonacci retracement and could reverse from this level to our take profit. Entry: 92.00 Why we like it: There is a pullback resistance level that aligns with the 78.6% Fibonacci retracement. Stop loss: 92.46 Why we like it: There is a pullback resistance level. Take profit: 91.12 Why we like it: There is a pullback support level. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Short
by VantageMarkets
Gold Analysis November 19Fundamental Analysis Gold prices attracted some safe-haven flows after posting its biggest weekly decline in more than three years last week and snapped a six-day losing streak on Monday amid rising geopolitical tensions. In addition, falling US Treasury yields prompted some profit-taking in the US Dollar (USD) following its post-US election rally to fresh yearly highs and turned out to be another factor in favour of the non-yielding yellow metal. USD bulls remained on the defensive in Asian trade on Tuesday, supporting Gold’s further recovery from a two-month low touched last Thursday. Meanwhile, expectations that US President-elect Donald Trump’s policies will reignite inflationary pressures and limit the scope for further rate cuts by the Federal Reserve (Fed). This will keep US bond yields high and benefit USD speculators, which could limit XAU/USD Technical Analysis The technical resistance level of 2624 that Gold is facing will be very important in today's European trading session, the uptrend is relatively strong and there has not been much recovery in price. The 2595 zone is considered the target of all the downtrends today. The 2648-2650 zone is the main resistance zone today. In a strong uptrend, you should prioritize BUY signals at 2615 at old breakout points to have the best strategy for yourself.
OANDA:XAUUSD
by TVS-Trader
1