FOREX MARKET ANALYTICS
Euro may reach resistance level, break it and continue to grow
Hi guys, this is my overview for EURUSD, feel free to check it and write your feedback 👊
For an extended period, the price was dictated by a descending channel, with each rally attempt failing at its upper boundary.
The downward trend culminated in a test of the crucial support level at $1.1635, where sellers were unable to secure a foothold, signaling a potential momentum shift.
This shift was confirmed when buyers took control, launching an upward impulse that decisively breached the long-standing resistance of the channel's upper trendline.
After the breakout, the price established a new local support base above the former channel, solidifying the change in market structure.
The subsequent rally carried the asset's price to the significant horizontal resistance zone around $1.1755, where the upward advance has temporarily stalled.
I expect that after a brief consolidation, bullish pressure will resume, enabling the price to break the $1.1755 barrier and continue towards the $1.1820 target.
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Euro may reach resistance level, break it and continue to grow
Hi guys, this is my overview for EURUSD, feel free to check it and write your feedback 👊
For an extended period, the price was dictated by a descending channel, with each rally attempt failing at its upper boundary.
The downward trend culminated in a test of the crucial support level at $1.1635, where sellers were unable to secure a foothold, signaling a potential momentum shift.
This shift was confirmed when buyers took control, launching an upward impulse that decisively breached the long-standing resistance of the channel's upper trendline.
After the breakout, the price established a new local support base above the former channel, solidifying the change in market structure.
The subsequent rally carried the asset's price to the significant horizontal resistance zone around $1.1755, where the upward advance has temporarily stalled.
I expect that after a brief consolidation, bullish pressure will resume, enabling the price to break the $1.1755 barrier and continue towards the $1.1820 target.
If this post is useful to you, you can support me on Tradingview with like/boost and advice in comments❤️
The best place to trade Forex & Crypto is ThinkMarkets 👉 https://bit.ly/3FU1pGw
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FOREX MARKET ANALYTICS
GOLD - Price can make correction and then bounce up
Hi guys, this is my overview for XAUUSD, feel free to check it and write your feedback 👊
The price has been developing within a broadening wedge formation for some time.
This pattern began after the asset found strong support in the key zone around the $3305 level.
Within this structure, buyers recently pushed the price upwards in a notable impulse wave.
This impulse culminated in a test of the wedge's upper boundary and the resistance area near $3430.
After being rejected from that resistance, the price is now in a corrective decline towards the lower trendline.
I expect that this correction will find its footing on the lower boundary, leading to a rebound and a new rally towards the $3430 resistance.
If this post is useful to you, you can support me on Tradingview with like/boost and advice in comments❤️
The best place to trade Forex & Crypto is ThinkMarkets 👉 https://bit.ly/3FU1pGw
GOLD - Price can make correction and then bounce up
Hi guys, this is my overview for XAUUSD, feel free to check it and write your feedback 👊
The price has been developing within a broadening wedge formation for some time.
This pattern began after the asset found strong support in the key zone around the $3305 level.
Within this structure, buyers recently pushed the price upwards in a notable impulse wave.
This impulse culminated in a test of the wedge's upper boundary and the resistance area near $3430.
After being rejected from that resistance, the price is now in a corrective decline towards the lower trendline.
I expect that this correction will find its footing on the lower boundary, leading to a rebound and a new rally towards the $3430 resistance.
If this post is useful to you, you can support me on Tradingview with like/boost and advice in comments❤️
The best place to trade Forex & Crypto is ThinkMarkets 👉 https://bit.ly/3FU1pGw