#GOLD (#XAUUSD): The Next Resistance is Here: 🥇

Many Gold traders are now speculating where is the next strong
resistance on 📈XAUUSD chart.

I see a very peculiar zone ahead that is based on a significant
rising trend line that the market has been respecting since 2023
and 2900 psychological level.

Probabilities will be high to see at least a pullback from that zone.
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Daily time frame
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Dollar Index (#DXY): Recovery Continues 💵

📈Dollar Index may continue recovering today.

A bullish breakout of a falling parallel channel on an hourly
indicates a local strength of the buyers.

Goals: 107.77 / 107.85
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1H time frame
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#USDJPY: Massive Breakout 🇺🇸🇯🇵

📉USDJPY broke and closed below a significant daily support cluster.
The broken structure now turned into a strong resistance.

I expect a bearish continuation lower.
Next support - 151.3
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Daily time frame
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I received questions from many of the group members about ⚠️Gold: whether it is a confirmed head & shoulders pattern on an hourly and a strong bearish confirmation.

Well, that is definitely the valid pattern BUT there is a big problem with that:

1. First, the pattern is formed beyond historic key levels and vertical structures (trend lines). In a strong bullish trend, such patterns usually have lower accuracy and can simply be the manipulation.

2. From the perspective of the buyers, we can see a bullish pattern - a bullish flag. It leaves the opposite clue here and makes the head and shoulders even weaker.

Though, the reversal price action patterns work, they work in very specific cases. Even though, this h&s may indicate a bearish movement BUT from the probabilities perspective, chances will be quite low.

Be very careful and don't go against the trend, better wait for a pullback and look for trend-following buying.

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Trading Setup #Update

Instrument: #AUDCAD
Posting date: 30.01

Good job, team!💰

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#GBPJPY: Intraday Bullish Movement 🇬🇧🇯🇵

📈GBPJPY looks bullish after a forming a bearish
trap followed by a bullish imbalance and a confirmed CHoCH on an hourly time.

Chances are high that the pair will continue rising.
Goal - 189.0
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1H time frame
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#AUDUSD: Bullish Movement Continues 🇦🇺🇺🇸

📈AUDUSD violated a key daily horizontal resistance.

After a retest of a broken structure, the pair was nicely rejected,
indicating a strength of the underlined blue zone.

I think that the market will continue rising.
Next resistance - 0.6313
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Daily time frame
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#CHFJPY: Bearish Trend Will Resume Soon 🇨🇭🇯🇵

📉CHFJPY looks bearish on a daily after a violation of a significant support cluster.
The broken structure and a falling trend line compose a contracting
supply area now.

With a high probability, a strong bearish wave will follow from there.

Next support - 165.9
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Daily time frame
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