What lies ahead for gold?
As you must already know, the direction of Gold is mainly dependent on the Price action of DXY (US Dollar index). So first, we take a look at the US Dollar index.
USD/CHF: franc is consolidating
2019-11-11 • Updated
Recommendation:
BUY 0.9995 SL 0.994 TP1 1.0095 TP2 1.0195 TP3 1.04
SELL 0.978 SL 0.9835 TP1 0.968 TP2 0.962 TP3 0.9515
On H1 of USD/CHF, bears are testing the lower border of the uptrend channel. Success will increase the odds of triggering the “Bat” pattern with a target at 88.6%. On the other hand, a failure with the following break of resistance at 0.9995 will return bulls hope for reaching targets of “Wolfe waves” and AB=CD.
On H1, USD/CHF reached the interim 78.6% target of the “Bat” pattern. Bulls are getting ready to test resistance at 0.9920-0.9925 once again.
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Trade Idea: Major Pairs - 28-12-2022
Hello, my beautiful readers. This week, we continue our critically detailed look at the markets in hopes of getting profitable trading opportunities. As usual, I'll be starting with the DXY (US Dollar Index) since it holds considerable sway over the Major currency pairs.
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