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Thread: global20's trading journal

  1. #4591 Collapse Post
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    Quote Originally Posted by global20     
    Hello my dear friends how are you? I hope that you are doing very well and making profit with gold because this is a heavy selling position we can see since last few days. You know that gold price was released of 1965 and after that it was heavily drop down and the lowest position is came down today which is is 1811.

    GOLD:


    If you look at the daily chart for gold then we can see that the lower support area for the Bollinger band which is 1817 has been broken and prices came down 1811 level so this is a very good chance that it will continue the downtrend below the level of 1800 even if you look at the greatest mental level here we can see e that is swing back is also possible over 1853 level but at this moment we can see that price is continuously going down trending direction so going against the market trend is not a good idea.


    USD index:


    Yes you are the index is very much vibrating since last few days and it was came down below 92.00 but right now it is moving over 92.20 and the lowest price was came down 92.11 today. If you look at the chart you can see that USD index was came down 91.71 which was the lowest price level of of month of October and the lower weekly support area which is 91.49 and this is not impossible to get down below that level because there is a a possibility it will down if USD news give negative impact.

    USDCAD:


    A few of the the important news for USD and CAD currency is up coming and which is definitely giving a high impact into the USDCAD currency price. If you look at the the chart for USD CAD then we can see that since last few days price is going down due to the negative situation of USD news. That the lower Bollinger band support area which is 1.2990 level for USDCAD that could be a very good target area for next few days.

    thanks.
    Forcast for Gold:
    In the event that the price is able to breach the level of 1815 , then the price will go to the upside, targeting the level of 1790 as a next target, and the price will try to break it, and if the price is able to breach the level1830 The price will continue to rise, targeting the level of 1885 as a main objective, if the price is not able to breach the level of 1805, the price will return to moving towards the bearish corrective trend.
    Name: Screenshot_20201124-141809_1606209509418.jpg Views: 0 Size: 219.4 KB

    Forcast for USDX:
    The USDX pair is now at the level of 91.81 and is starting to grow its prices as indicated by the Index.The USDX pair is now quotes above the average level of the indicator. The crosses are moving with a period of 10 indicating a possible continuation of the growth of quotes in the pair.
    I assume quotation growth will continue at the higher level at least at 92.72 of the upper band of the Bollinger Bands.
    Name: Screenshot_20201124-141307_1606209233317.jpg Views: 0 Size: 205.0 KB

    Forcast for USDCAD:
    In the event that the price was unable to breach the level of 1.3136 , then the price is expected to go to the downside and the price will continue to decline until it targets the level of 1.2950.As a next target, the price will try to break it, and if the price manages to breach the level of 1.2950, the price will continue to fall, targeting the level of 1.2950 as a main target, and if the price is not able to breach the level of 1.2950, ​​the price will go to the bullish corrective direction.
    Name: Screenshot_20201124-163855_1606217953611.jpg Views: 0 Size: 214.7 KB

    Important note:
    This is my personal analysis that was done by adopting Fibonacci charges and I am not responsible for any reversals in the direction of price movement or reversing the results of the analysis, so please all forex traders to exercise caution when starting a trade, and I am not responsible in the event that the price has a direction other than the expected direction in the analysis.


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    Quote Originally Posted by global20     
    Hello my dear friends how are you? I hope that you are doing very well and making profit with gold because this is a heavy selling position we can see since last few days. You know that gold price was released of 1965 and after that it was heavily drop down and the lowest position is came down today which is is 1811.

    GOLD:


    If you look at the daily chart for gold then we can see that the lower support area for the Bollinger band which is 1817 has been broken and prices came down 1811 level so this is a very good chance that it will continue the downtrend below the level of 1800 even if you look at the greatest mental level here we can see e that is swing back is also possible over 1853 level but at this moment we can see that price is continuously going down trending direction so going against the market trend is not a good idea.


    USD index:


    Yes you are the index is very much vibrating since last few days and it was came down below 92.00 but right now it is moving over 92.20 and the lowest price was came down 92.11 today. If you look at the chart you can see that USD index was came down 91.71 which was the lowest price level of of month of October and the lower weekly support area which is 91.49 and this is not impossible to get down below that level because there is a a possibility it will down if USD news give negative impact.

    USDCAD:


    A few of the the important news for USD and CAD currency is up coming and which is definitely giving a high impact into the USDCAD currency price. If you look at the the chart for USD CAD then we can see that since last few days price is going down due to the negative situation of USD news. That the lower Bollinger band support area which is 1.2990 level for USDCAD that could be a very good target area for next few days.

    thanks.
    USD index
    The US dollar has remained at stronger levels in the last hours following yesterday’s modest rebound from recent lows. The US Dollar Index (DXY) once again tested and failed to break below the bottom of the trading range between the 92.000 and 94.000 levels that has been in place since late July. US economy appears to be holding up better than in Europe, therefore, economists at MUFG Bank question the USD bearish sentiment across the market.
    Gold
    XAU/USD looks to threaten $1800 level amid coronavirus vaccine optimism after the yellow metal resumed last week’s bearish momentum on Monday and fell 2% to the lowest levels in four months at $1831, Since the hourly Relative Strength Index (RSI) trends in the oversold territory, a dead cat bounce cannot be ruled out towards the pattern support now resistance at $1836. The next resistance is seen at the bearish 21-hourly moving average (HMA) at $1842. The long-held support at $1850 could then act as a strong resistance if the bulls extend the recovery momentum.

    USDCAD OUTLOOK

    USD/CAD is trading at its lowest level in nearly two weeks.
    Upbeat market mood continues to weigh on the USD.
    The USD/CAD pair closed the first day of the week in the negative territory and extended its slide on Tuesday pressured by the rising crude oil prices and the broad-based USD weakness. As of writing, the pair, which touched its lowest level in nearly two weeks at 1.3010, was trading at 1.3032, losing 0.35% on a daily basis.

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