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Gold (#XAUUSD): Bearish Outlook For This Week Explained
An important thing happened on Gold this week.
After a strong bearish movement, the price reached a major rising trend line.
The price was coiling on that since Monday.
On Thursday, it was broken, though.
The price closed below that...
EURUSD is moving into a correction phase. The price rests against the conditional support at 1.065 and forms a bearish flag. This pattern shows us the potential to revive the fall further.
The price tests the support zone of 1.07116 in a bearish flag format. A breakdown of the support of the...
#AUDCAD: Bearish Outlook Explained
AUDCAD looks very bearish:
the price has broken 2 rising trend lines on a daily,
formed a double top and broke its neckline as well.
The price is retesting the confluence zone based on the broken structures.
Probabilities are high that the pair will drop...
Here is my latest structure analysis for WTI Crude Oil.
Support 1: 72.3 - 73.2 area
Support 2: 70.0 - 71.4 area
Resistance 1: 81.7 - 85.2 wide supply area
Consider these structures for pullback/breakout trading.
USDJPY is testing a key horizontal demand zone on 4H.
The price formed a double bottom pattern on that and broke its neckline then.
I expect a bullish movement to 132.7
EURCAD was consolidating for 3 weeks in a wide horizontal trading range on a daily.
Its support was finally broken this week.
I believe that the pair may go lower now.
Next support - 1.428
USDCAD reached a key supply zone on 4H.
The price formed a double top on that and broke its neckline at night.
I expect a bearish movement to 1.3349 / 1.3295
The price has nicely respected a major rising trend line and the price successfully broke a neckline of an ascending triangle formation on 4H.
I will expect a bullish continuation now.
Targets: 1895 / 1908