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#DXY can rise to 112 end even above
Since the beginning of the year, the trend for the USD is up and, after breaking above the important phycological 100 figure, the index is trading in an ascending channel and every correction on Usd is bought.
Recently, the index reached 110 and a correction followed, this drop was quickly reversed once CPI data were released and the price is now again above 108.50-1.09 zone resistance.
I expect a new leg up from Usd and 112 can be the target.
Pairs like EurUsd and GbpUsd should be sold on eventually rallies
Since the beginning of the year, the trend for the USD is up and, after breaking above the important phycological 100 figure, the index is trading in an ascending channel and every correction on Usd is bought.
Recently, the index reached 110 and a correction followed, this drop was quickly reversed once CPI data were released and the price is now again above 108.50-1.09 zone resistance.
I expect a new leg up from Usd and 112 can be the target.
Pairs like EurUsd and GbpUsd should be sold on eventually rallies
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#UsdJpy- Buy dips is a smart trader's approach
Since the important break of 116 resistance back in March, UsdJpy has risen around 30% and reached 145.
Although a 30% move for a pair like UsdJpy is a lot, this doesn't mean that a drop will follow and, as John Maynard Keynes said: " Markets can stay irrational longer than you can stay solvent", and with this in mind, a smart trader's approach should be to buy eventual dips, not sell in the hope of a reversal.
Technically speaking, 140 is support and around this zone, I will look for buying opportunities.
Since the important break of 116 resistance back in March, UsdJpy has risen around 30% and reached 145.
Although a 30% move for a pair like UsdJpy is a lot, this doesn't mean that a drop will follow and, as John Maynard Keynes said: " Markets can stay irrational longer than you can stay solvent", and with this in mind, a smart trader's approach should be to buy eventual dips, not sell in the hope of a reversal.
Technically speaking, 140 is support and around this zone, I will look for buying opportunities.
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#GbpUsd can visit 1.14 again
Two days ago I said that GbpUsd is approaching a strong resistance and there is a strong probability of the correction to be over and resumption to the long-term trend.
Indeed, the pair reversed from that zone and dropped violently reaching my target at 1.15 in just a few hours.
Now GbpUsd is rebounding and this can be a good opportunity for short trades and joining the more.
1.16 acts as resistance and only sustained buying above 1.17 would change the bearish perspective.
The target for bears can be 1.14 previous low.
Two days ago I said that GbpUsd is approaching a strong resistance and there is a strong probability of the correction to be over and resumption to the long-term trend.
Indeed, the pair reversed from that zone and dropped violently reaching my target at 1.15 in just a few hours.
Now GbpUsd is rebounding and this can be a good opportunity for short trades and joining the more.
1.16 acts as resistance and only sustained buying above 1.17 would change the bearish perspective.
The target for bears can be 1.14 previous low.
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#Gold- On the verge of a break down
As we all know, CPI data triggered a massive sell off for Gold and after finding some kind of support yesterday, XauUsd has spent all day in a tight range.
The short-term 1700 support is broken now and at the time of writing the price is hovering just above the important 1690 support.
Sellers seem to be in total control at this moment and I expect also a break under this level.
Rallies above 1700 should be well capped now and in that zone, traders should look for a bearish signal to join the trend.
This scenario is valid as long as the price stays under 1725.
As we all know, CPI data triggered a massive sell off for Gold and after finding some kind of support yesterday, XauUsd has spent all day in a tight range.
The short-term 1700 support is broken now and at the time of writing the price is hovering just above the important 1690 support.
Sellers seem to be in total control at this moment and I expect also a break under this level.
Rallies above 1700 should be well capped now and in that zone, traders should look for a bearish signal to join the trend.
This scenario is valid as long as the price stays under 1725.
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BUY GOLD 1661.8 - 1659
TP: 1663.5
TP: 1666
SL: 1654
Please aware with your money management
TP: 1663.5
TP: 1666
SL: 1654
Please aware with your money management
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