XAU/USD – Major Level , Break Or Bounce ?

Let’s look at the almighty safe haven Gold. The precious metal is currently trading at 1610.50 at the time of writing the article. After seeing the massive selloff in gold as investors hurried to get cash on hand in fear of a recession and massive crash in the stock market , we saw the safeContinue reading “XAU/USD – Major Level , Break Or Bounce ?”

GBP/AUD – A New Leg Into 2.03500 & Beyond ?

We’re starting on the 4 Hour timeframe today and we’re looking at GBPAUD. What we can notice first off is that we’ve printed a new higher high at the price of 2.03400. Since then we’ve seen a reversal and retracement back into the price regions of 1.98900 where we have a clear level of support.Continue reading “GBP/AUD – A New Leg Into 2.03500 & Beyond ?”

USD/JPY – Could We Be In For New Lows ?

Beginning on the monthly, we have a descending channel dating back to January 2017. As of February, we retested this descending trendline and again this month, leaving two wick rejections into the highs. Taking a look at the prior candle closures, we can see a slowdown and rejections into the highs, with Doji candlestick formations. Let’sContinue reading “USD/JPY – Could We Be In For New Lows ?”