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GOLD → Correction phase, expect a fall, but news... FOREXCOM:XAUUSD is declining by 1.3% on Wednesday, the reason may be the fundamental nuances of the Fed, which is still trying to keep the market under control, hinting at both lowering the interest rates and raising them, to which the market reacts by strengthening the dollar. Today at 13:15 - 14:45 important news is published, which reflects both the situation with inflation and the position of the FED and FOMC. Fundamentally, analysts expect bullish data, which could technically strengthen the TVC:DXY , which in turn will weaken gold. Still, it is worth waiting for actual data that can provide insight into the medium-term outlook. On the chart we see the formation of a technical correction on the background of a bullish trend. The price is testing the resistance of 2050, it is possible that before the news the price may go higher and test 2058, 2065 before falling further. But, if the actual fundamental data is worse than expected, it could strengthen gold towards the current channel resistance. Support levels: 2042, 2037, 2033, 2030 Resistance levels: 2049.3, 2050, 2058, 2065 The news will give us insight into the medium-term outlook. Bullish news for the dollar will weaken gold and the price will continue the local downtrend. Bearish news for the dollar will strengthen gold and may reestablish the bullish trend Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
10
Bitcoin will continue to crash to 36 600Bitcoin is really bearish at this moment. We have had a massive crash recently, and this is not looking good. My technical analysis suggests that we have completed the impulse wave (3) and are in a corrective phase wave (4). This corrective phase should end at 36 600 USDT, and then I am expecting another pump to reach 48 500 USDT. On the chart, you can see a symmetrical triangle, and the price went above it; unfortunately, it was a false breakout / fakeout. Usually, what happens after such an event is that prices reverse and go in the opposite direction. Triangles are usually marketed as wave (4) from the Elliott Wave perspective. 36,600 is a strong support because it is in the middle of the previous consolidation. Also, this is the first major swing low, right before the previous pump. There is definitely a lot of liquidity, which is a magnet for whales. Let me know what you think about it, and please hit boost and follow for more ideas. Thank you, and I wish you successful trades.
Short
by Xanrox
3
GOLD → Correction Phase. How long will it last?FOREXCOM:XAUUSD is weakening on the background of growing TVC:DXY . At the moment, fundamental and technical indicators are diverging and the market is trying to collect maximum liquidity before further growth. On D1 we see the formation of a false breakdown of resistance 2075. The market is in global consolidation, but locally we have a downtrend forming. Technically, the price may test the local trend support, while the dollar seeks to test the resistance. Within the downtrend range, gold may bounce from support to resistance. This range formation is likely to continue until the end of the week. Support levels: 2048, 2030, 2010 Resistance levels: 2058, 2069, 2075 Fundamentally, the dollar has a weak support and should fall. But on the background of low market volumes, the market maker is collecting liquidity. It is likely that the gold may test the far support levels before rising further. Hence, the local bearish correction formation may continue until 2009 in the medium term. Regards R. Linda!
OANDA:XAUUSD
by RLinda
4
GOLD → The bullish potential is back. December trap FOREXCOM:XAUUSD is starting to catch up with the bullish potential, which was forged at the end of 2023, when we received negative news for $. On D1 we see gold rising on the back of a weakening TVC:DXY . The price breaks through the important and historical resistance 2069 - 2070. A retest and consolidation of price above the level is forming. A price consolidation this week above this level will confirm the intention of the bull market. In this case, we may see a potential target in the form of: 2085, 2100 and even 2150. On H1, the price is updating the local support (false breakout) on the background of bullish news for gold. And this is a logical scenario before further growth. I warned you that before the growth, even on good news, the price can go down. Now it is important for us to see the price consolidation above the mentioned liquidity area. Support levels: 2075, 2070, 2069 Resistance levels: 2079, 2082, 2088, 2100 I expect growth after the price fixation above the mentioned support area. Regards R. Linda!
OANDA:XAUUSDLong
by RLinda
10
EURUSD → Bulls can show good growth FOREXCOM:EURUSD is testing support in the upside plane. The support at 1.1017 plays a key role On D1 we see the formation of a retest of 1.1000 level after its break. The market may test this area not only by touching it, but also by false breakout before further growth. The TVC:DXY is likely to continue its weakening on the back of weak fundamental background, which will affect the forex market accordingly. On H4 and H1 it is worth paying attention to the support area: 1.100 level and upward support in order to make further decisions. Resistance levels: 1.108, 1.1142 Support levels: 1.107, 1.100, 1.0930 The price may test not only the nearest support, but also the one below. Everything depends on the price reaction to the mentioned levels. But at the moment we expect growth from 1.1017. Regards R. Linda!
Long
by RLinda
12
BTCUSD → The potential for a rise to 50K is accumulatingBINANCE:BTCUSD is forming a good potential and prerequisites for further growth. The key resistance is the level of 44350, and the price continues to actively test this area. On the high timeframe we see the formation of a global range. The potential target from the point of view of technical analysis at the moment is the upper boundary of the range 65K - 70K, where a huge pool of liquidity is hidden. Fundamentally, bitcoin is doing quite well, as the SEC has recently been actively cooperating with companies that have applied for a spot ETF. Analysts expect the first BTC-ETF to be approved in early January 2024: some sources have indicated that recent indications from SEC officials are that the green light is likely to be given by January 10. In terms of technical analysis, an ascending triangle is forming on the chart. The key resistance of the pattern is the area of 44350 - 44500. This pattern can be interpreted as an active accumulation of buyers' potential for further overcoming the limit resistance formed by sellers. The price keeps testing the resistance and getting closer to the resistance. At the moment there are two possible scenarios: Retest of 43440 support, formation of a false breakdown with further retest of global pattern resistance and its breakout with further growth. Deeper correction: retest of the resistance of the previously broken ascending channel with further rebound and retest of the global resistance with the aim of its breakout. Support levels: 43440, 41664, 41200 Resistance levels: 44350, 48234 I expect that consolidation will end soon and the market will move to the phase of realization and growth to the specified target. Regards R. Linda!
BITSTAMP:BTCUSDLong
by RLinda
47
EURUSD → Favorable fundamentals for growth FX:EURUSD is strengthening and continues to give signs that the price will continue its rise on the back of a weaker dollar due to weaker GDP than analysts expected. On D1, the price is testing the 1.1000 resistance area (important zone). A reversal V-shaped pattern is being formed, followed by numerous retests of the line. The pre-breakdown consolidation and positive fundamental background for the euro are doing their job. Ahead of us today is CTGO, PCE at 13:30 GMT. It will not play a special role after GDP. Analysts expect the publication of roughly the same data as in the last period (with a slight correction). Indicators higher than expected will positively influence the dollar, while weaker data will strengthen the fall of $ The price is making a breakout attempt. A consolidation of the price above 1.1000 will form a bullish potential, which will be a strong support for the pair. On H4 the price is still in the range of 1.1017 - 1.0830. Another resistance retest is formed after a small correction. A breakout of the level is expected with subsequent growth to the trend resistance. Moving averages support the market. Support levels: 1.099, 1.0965, 1.093 Resistance levels: 1.1000, 1.1017 We expect a breakthrough of the above-mentioned area and continuation of the currency pair growth in the framework of the uptrend. Regards R. Linda!
Long
by RLinda
4
GOLD → Trading inside the range 2050 - 2075FOREXCOM:XAUUSD has been strengthening since the opening of the session. Friday's sell-offs formed local support at 2050 (retest) after which a new range is likely to be formed. For gold we have a favorable fundamental background, which may have a positive impact on the price. While the TVC:DXY is declining, the gold is testing new highs. As there are a few days left before the New Year holidays, liquidity in the market is decreasing. Against this background, the price may end the trading session within the existing range of 2050 - 2075. I would advise to focus on the range trading strategy. On the chart we can see the key support lines: (rising line, 2055, 2051, 2050). There is a chance that the price may test these lines. The level of 2062, 2069, 2075 plays the role of key resistance. Pay attention to the schedule of your broker, so as not to open trades before the closing of the trading session. The volumes on the market are decreasing and in all likelihood the price may get stuck in the mentioned range. On Thursday, strong news is published, but until that day, gold may trade inside 2075 - 2050. Regards R. Linda!
OANDA:XAUUSD
by RLinda
14
GOLD → The price enters a new range of 2050 - 2070FOREXCOM:XAUUSD is breaking through resistances. Yesterday the US GDP was released, which showed weaker data than the market expected and this is favorable for the gold price. In part we were prepared for it. The TVC:DXY is breaking the pattern and retesting key support. High odds are high that the decline and weakening of the index will continue. Hence, it is bullish for gold to overcome the pattern and range resistance. Gold in a bullish move breaks through the limit barrier and consolidates above the mentioned line. Ahead of us today is the news at 13:30 GMT. I don't think they will change anything after the US GDP. Analysts expect the publication of about the same data as last period (with a slight correction). Volatility may increase in the market, be careful during trading. Gold enters a new range of 2050 - 2070, the intermediate target is 2062. Support levels: 2050, 2048 Resistance levels: 2062, 2075 I expect the continuation of growth even after the news, as yesterday's news defined the medium-term potential for the market. Targets are indicated on the chart. A pullback from 2062 to support before further growth is possible. Regards R. Linda!
OANDA:XAUUSDLong
by RLinda
13
GBPCAD → Trend change and break of range support FOREXCOM:GBPCAD is forming a trend change. The price is breaking the key support area and most likely the fall may continue within the channel. The Canadian is strengthening a bit stronger than the pound sterling, which is losing ground on the background of fundamental politics. On the chart we see the formation of a fresh descending channel, but the range of 1.793 - 1.697 is more key for us. The price breaks the support of the range and forms a false breakdown in the correction phase. Consolidation of the price below the level will form a bearish potential can send the price to the mentioned target. The market may be interested in the lower boundary of the channel as a target. In the long term we consider price strengthening from the trend support and classical trading of the price inside the bearish trend. It is also worth paying attention to the moving averages. Resistance levels: 1.6977, 1.700 Support levels: 1.694, 1.6855 I expect a decline, a retest of the trend support (here is our target), which may be followed by a rebound before a further decline. FX:GBPUSD FX:USDCAD TVC:DXY Regards R. Linda!
Short
by RLinda
1
GOLD → The market is waiting for news. Falling or rising?FOREXCOM:XAUUSD has been standing still for a few days, as well as the TVC:DXY . The market is waiting for today's news related to GDP and unemployment. What is the difficulty in determining the future direction of the price? Let's start with the fact that since last week the Fed destroyed the adequate price behavior for the medium term. The dollar, based on data, not rumors, should rise, gold should fall, but that is not the case. There is a possibility that this manipulation by the market maker to take more favorable positions before further movement in one direction or another. Today the US GDP and unemployment are published. Analysts expect GDP to remain flat at 5.2% and Initial Jobless Claims to rise from 202K to 214K (a generally bearish scenario for the dollar). If: GDP comes out lower than expected and Initial Jobless Claims higher than expected, the dollar could fall. Accordingly, if GDP rises and unemployment falls, the dollar will probably go up. The movement of the indices will affect the gold accordingly Resistance levels: 2038, 2050 Support levels: 2030, 2020 From the TA + fundamentals point of view, the market is confused, hence a sideways flat, which can be interpreted as neutral forces (obviously). There is a high probability that the dollar could still get stronger. In this case gold may test the resistance before further falling. But news is always unpredictable! Regards R. Linda!
OANDA:XAUUSD
by RLinda
24
🇪🇺 EURJPY 🇯🇵 - Flag against a bearish trend The EURJPY currency pair may continue to fall as accumulation is forming amid the bearish trend. There is a weak flag on the downtrend, which is a set-up for further price decline. Besides, the false breakdown of resistance also indicates the market sentiment Reasons for further decline ↓ 1) range formation on the background of the dovntrend 2) resistance retest and false breakdown at 157.69 3) bearish trend 4) weak fundamental background for the yen
Short
by AndeWave
1
GOLD → Consolidation against an unstable background FOREXCOM:XAUUSD continues to consolidate. The market is forming a range after the shakeout, manipulation by the frs, unstable fundamental environment. Let's get to the bottom of what's going on. The price is testing strong resistance on D1, but on the local timeframe both gold and TVC:DXY are in consolidation. Technically, the dollar is showing hints of possible growth, but the important news will be only tomorrow (December 21) and they are expected to be quite unstable. It is difficult to determine the outcome in advance, we will wait for the actual data. Gold is testing the resistance 2048 - 2050, the third retest on D1, but the price does not reach a few tens of points to the maximum. There can be many reasons for this, and one of the serious ones is building a limit barrier due to strong sellers. But again, the price has not yet tested 2050 (no touch). It may happen before a possible rebound. Now there is also a possibility that the market may try to break 2050 and enter the range of 2050 - 2075. We continue to watch this area. Resistance levels: 2048 - 2050 Support levels: 2038, 2030, 2020 From the point of view of range trading strategy, we should expect a fall after retesting the range resistance, as there is no actual trend and on the background of neutrality we can both buy and sell, but inside the range. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
18
GOLDEN STAR| hard Resistance zone -With increasing buying pressure, the price of gold was able to pass the resistance area (2038) upwards. -Currently, the price has hit the next resistance level, which has also reacted to this area. -My idea for the continuation of the trend is that this resistance zone will prevent the further growth of the gold price and this accumulation of liquidity will cause the price of gold to fall. Share your opinion in the comments, and support the idea with a like. Thanks for your support!
OANDA:XAUUSDShort
by Golden_Star1994
GOLD → Consolidation on weak fundamental background FOREXCOM:XAUUSD remains within consolidation for several days. The market stands still due to the uncertain fundamental environment. The CAPITALCOM:DXY stands in a narrow consolidation, but at the same time forms an ascending triangle, which can be interpreted as bullish consolidation, pushing the price to resistance with the aim of breaking the limit resistance level. If the dollar starts to strengthen, which is expected on the background of the pattern, gold will then start to realize the scenario we expect. Fundamentally, on Friday and Monday, Fed officials made it clear to the market that Powell said nonsense about the rate easing discussion and started to put things in order: a rate cut is possible in March, but it is too early to discuss it now, as inflation is still high and a rate hike is possible. Hence, this is a negative fundamental backdrop for gold. Gold is now in consolidation and heading towards resistance for a retest before a possible fall. Support levels: 2023, 2020, 2010 Resistance levels: 2030, 2033.6 There is a high chance that after the resistance is retested, gold will start a downward phase, as below the above mentioned zones and below the lows there is an area of interest to the market maker - areas of imbalance formed on the background of the strongest rally a few weeks ago. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
7
ICPUSDT → The development of bullish potential could yield 75%BINANCE:ICPUSDT has finally overcome the resistance of the bearish trend. The coin has a potential for growth. The target could be a 75% rise. On w1 we can see that the coin is still weaker than the cryptocurrency market and is currently showing the prerequisites in which the price can start a rally to catch up with the missed potential. A breakdown of MA-50 W1 and consolidation above forms a bullish leverage that allows for a successful upper channel boundary. On the daily timeframe, price breaks the 6.00 level. In the future, I will wait for price consolidation above this level to open positions with the aim of further price growth and achieving the targets indicated on the chart. Support levels: 6.050, 4.988 Resistance levels: 6.788, 7.100, 7.809 I expect the ICPUSDT coin to continue growing after the price fixes above the previously broken level. Regards, R. Linda!
Long
by RLinda
15
GBPUSD → The start of a rally? A retest of support FOREXCOM:GBPUSD on the back of Powell's loyal speech regarding further rate cuts, but which he has now left unchanged, and also on the back of inflation, which is falling much slower than he would like, is strengthening and updating the high to 1.279 . On D1 we see how the price reacted to the news that came out on Wednesday. Price tests the MA-200 on Tuesday and Powell accelerates the rally on Wednesday. Pretty aggressive market reaction to virtually unchanged data. Oh well. At this point, the price broke the downward resistance, which puts the market in a bullish phase. After consolidation we see the transition to the distribution mode, which may continue after the local retest of the support areas indicated on the chart. Strong bulls have come to the market again, which take advantage of the weakening TVC:DXY The key support area is 1.2715 - 1.2650. A retest of the support may form a false breakdown, and the subsequent consolidation above the level will form a bullish potential. Medium-term targets for further growth are resistance at 1.2784, 1.2888 Support levels: 1.2715, 1.265, 1.2615 Resistance levels: 1.2784, 1.2888 Within the framework of the emerging correction, the price may test the support before further growth. Today there is no strong news that can affect the market, in all likelihood, the bullish influence on the pair will continue. Regards R. Linda!
Long
by RLinda
11
ETH → Conglomerate of bullish patterns. Waiting for growth ↑Ethereum COINBASE:ETHUSD is forming a conglomeration of bullish patterns amid a strong uptrend that continues to show chic preconditions for further growth. On W1, the price forms a retest of the resistance of the uptrend range. The price successfully fixes above the strongest support zone 2041 and in fact the bulls define for themselves the lower boundary of the range, beyond which they have no right to let the price go. The area of 2300 is important for us in the medium term. This level shields us from a new range with the width of 55% of the price movement. I've seen two scenarios on the 4H timeframe. But first we should pay attention to such nuances as: bullish trend (strong), ascending triangle, the breakout of which continues to influence the price formation, as well as the bullish pattern "flag", which can be interpreted as: correction on the bullish trend before the continuation of growth. Support levels: 2190, 2131, 1980 Resistance levels: ascending resistance line and 2030 On the background of the retest, a false support breakdown is formed and the market forms a pin-bar candlestick - a strong signal for further growth. In addition, the conglomerate of bullish patterns " ascending triangle " and " flag " also forms the expected bullish potential. In the near future we expect the realization of one of the above scenarios with further growth. Regards R. Linda!
BITSTAMP:ETHUSDLong
by RLinda
3
GOLD → Nearby resistance could influence further declines FOREXCOM:XAUUSD on Friday, after the words of Williams (Fed) falls under the sell-off and tests the low of 2015.6. At the moment, the market is calm and forming a correction after a false breakdown of support. For the TVC:DXY , a relatively bullish fundamental backdrop was restored on Friday. In all likelihood, the correction may be followed by a recovery phase, which could affect gold in terms of further declines. Let me remind you that at the moment the price is in the range of 0.382 fibo - 0.236 fibo. On the H1 chart, the price is forming a false break of the support of the 2020 range and is heading towards resistance to retest this area. The market still wants to take the price lower as there is an area of imbalance and interest for the market below the 2000 - 1975 area, but amid strong market manipulation by the Fed, the asset is trading slightly higher than it should be. Support levels: 2020, 2015 Resistance levels: 2030. 2038. 2050 Still, we expect a decline after the resistance retest. The market is recovering fundamental background, within which gold may test lower support levels. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
10
GOLD → The market is warming and bullish potential is forming FOREXCOM:XAUUSD strengthens and tests the local high but fails to reach the key resistance at 2050. A strong consolidation above the 2030 level and subsequent momentum is forming. On D1 we see the potential that the market is aiming for. On the background of weakening TVC:DXY , on the gold market bulls form a strong support area below 2030 after which within the framework of realization of the accumulated potential the market strengthens, forming a bullish impulse. For us at the moment the area of 2034 and 0.382 fibo plays an important role. As the pre-breakout consolidation is formed in relation to the resistance, and after the false breakout of 2040 the price does not fall, but breaks the resistance, it seems that with a positive fundamental background the market may continue its growth. But before the growth the price may finally test the support. As part of the realization, the price may reach the area of 2050 or even 2060. Closing of today's daily session will determine for us the medium-term potential for the next week. Resistance levels: 2047.5, 2050. 2062 Support levels: 2038, 2030, 2025 It seems that the market is getting ready to test the resistance. A pullback within the range may follow. Price return to resistance will prepare the market for further growth. Regards R. Linda!
OANDA:XAUUSDLong
by RLinda
33
GOLD → The market's violent reaction. What to expect next...FOREXCOM:XAUUSD is once again meeting strong bulls. Powell's speech influenced the price growth and a 2.8% momentum is forming. Let's see what happened and what to expect: Most important: The rate remained unchanged. Inflation eased 0.1% to 3.1%. In fact, there was no change . Speculators liked Powell's more positive tone, which caused them to react with a rather aggressive infusion of capital into the market. But again, everyone, as well as the Federal Reserve and analysts expect the rate reduction not earlier than March 2024. Apparently, there was an internal psychological hunger on the background of long waiting for any hints or actions and as a result, we see the weakening of the TVC:DXY and the growth of gold. Today we expect important news at 13:30 GMT. Analysts expect the data to remain unchanged. In terms of technical analysis, Gold is testing the resistance of the previously created range of 2038. A false breakout is formed, which may lead to a small correction before further growth amid positive fundamental background. The price may test 2030, 2025, 2020. But a retest of 2038 and consolidation above the level will contribute to the strengthening of gold. Support levels: 2030, 2025, 2020 Resistance levels: 2038, 2049 I think that before the news there will be a sideways range and consolidation, after the news the price may form a correction before further growth. But everything depends on the news. Regards R. Linda!
OANDA:XAUUSD
by RLinda
8
GOLD → Pending FOMC & FED. Price may fall even lower FOREXCOM:XAUUSD is in consolidation phase and it is likely to last until 19:00 GMT. The market is waiting for news and no strong movements in one or the other direction should be expected before the time. The premise is that the dollar will strengthen: Friday's NFP continues to be bullish for the TVC:DXY (pattern to break resistance is forming) PPI is expected to be bullish Overall the data over the past few days will not allow Powell to cut the rate. Inflation is still strong to change policy. Against this backdrop, gold may test one of the local highs: 1990, 1996, 2000 before falling further Overall, from a technical point of view, there is still a huge buying imbalance in the gold market, the market maker can take the price much lower to balance the situation and at the moment the negative fundamental background is contributing to this. Support levels: 1976,2 Resistance levels: 1984.3, 1990, 1996 The price continues to update the lows and this indicates the mood of the market. The fundamental background for gold is unfavorable and the decline may continue. The situation may change if today's news and its actual data are not extremely opposite to expectations Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
36