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Uklee

Long if the price is still above 1.12EUR/USD is weighed down by the prospects of the EU becoming the epicentre of the new covid variant, Omicron. At the time of writing, But still within the range of 1.1250-1.1350. Now, EUR/USD is trading at 1.1277. => Buying will be a reasonable strategy if the price is still above the 1.1200 area. The barrier of weekly resistance around 1.1320 - 1.1350 is still quite solid, a break through will lead to the next resistance areas 1.1360 and 1.1430. => Stronger decline can be expected on break below 1.12 support towards 1.1165 target. Besides, in the long term, the EU's downtrend is still quite strong, so the resistance areas are still good price zones for the sellers.
Long
by UK_LEE
Sell if price continues to trade below the EMA21 H4 (114.10)=> Strategy unchanged from last week. USD/JPY climbs to one-week high, around 113.70 level amid risk-on mood. Strategy is unchanged from last week as UJ has been sideways for the past 1 week, and has always remained below 114.10. 113.80 -114.10 is still an important resistance area that needs to be watched to determine the next trend. => If we can break through the psychological threshold of 113.80 - 114.10, the next target will be 115.00 => On the contrary, if the price continues to trade below the EMA21 above H4 (114.10), the opportunity is for the bears, they are always looking for opportunities to return to the market with the goal of pushing the price to 113.00 or 112.00
Short
by UK_LEE
Fly out of the sideway 1770-1795, keep watchingGold rises to $1788 in a bid to the two-day rebound during early Tuesday. The mentioned barrier around the 1792-95 coincides with EMA21 and EMA100 on D1, should act as a pivotal point for traders. => A convincing breakthrough has the potential to push spot prices beyond the $1800 mark, towards testing the strong resistance near the $1810-15 supply zone. The momentum could further get extended towards the $1840. => On the flip side, the $1775-74 area, followed by the $1770 level should protect the immediate downside. This is followed by the monthly swing low, around the $1762 region, which if broken will be set the stage for a fall towards the $1750-48 support zone.
OANDA:XAUUSD
by UK_LEE
LongXAU/USD at a critical juncture, awaits US inflation for next big move. Gold extends the rebound to test the critical resistance level at 1789 - 1792. => The Golden cross is playing out for gold price but acceptance above $1792 is key - the confluence of the 100 and 200-Daily Moving Averages (DMA). Next target 1800 and 1810-1815. => On the flip side, immediate support is seen at the previous day’s low of $1772. And $1766 could then come to the rescue of gold bulls. The crucial support is seen at the horizontal trendline at $1,760 will be the line in the sand for gold optimists.
OANDA:XAUUSDLong
by UK_LEE
Sell if price continues to trade below the EMA21 H4 (114.10)USD/JPY climbs to one-week high, around 113.70 level amid risk-on mood. Strategy is unchanged from last week as UJ has been sideways for the past 1 week, and has always remained below 114.10. 113.80 -114.10 is still an important resistance area that needs to be watched to determine the next trend. => If we can break through the psychological threshold of 113.80 - 114.10, the next target will be 115.00 => On the contrary, if the price continues to trade below the EMA21 above H4 (114.10), the opportunity is for the bears, they are always looking for opportunities to return to the market with the goal of pushing the price to 113.00 or 112.00
Short
by UK_LEE
Long if price can still above 1.1200EUR/USD bulls keep the pace up, eye 1.1300. + Support level: 1.1245 1.1200 1.1165 + Resistance: 1.1305 1.1360 1.1430 => In the short term, buying will be a reasonable strategy if the price can still above the 1.1200 area and continue to buy if the price corrects to the 1.1250 area. The barrier of weekly resistance around 1.1305 - 1.1320 could be breached by buyers and headed to the next resistance areas 1.1360 and 1.1430. => The downside potential looks limited for the time being, though stronger declines can be expected on a break below 1.12 support towards 1.1165 target. Besides, in the long term, the EU's downtrend is still quite strong, so the resistance areas are still good price zones for the sellers.
Long
by UK_LEE
Waiting for the triangle to be brokenGBP/USD is printing back in the green at 1.32537 after climbing from a low of 1.3231. From a technical perspective, the emergence of fresh selling at higher levels validates last week's bearish break through a short-term descending channel => Hence, a subsequent slide back towards testing sub-1.3240 levels or 1.3200, A breakout of the triangle with some further selling should pave the way for a fall towards the next relevant support near 1.3130 region on the way to the 1.3100 mark. => On the flip side, the 1.3290-1.3300 region might continue to act as immediate strong resistance, if broken the price will fly outside the triangle zone and accelerate the recovery towards the 1.3350-1.3380 supply zone.
by UK_LEE
Long if price still above 0.7040AUD/USD prints three-day rebound from yearly bottom, rises one-week high at the latest. Clear break of 10-DMA, descending trend channel favor buyers. RSI, MACD conditions add to the bullish bias targeting 10-week-old horizontal resistance. => The AUD/USD bulls are set to battle the 0.7180 resistance. However, the quote’s further upside will need validation from bottoms marked during late August and September, close to 0.7220-30. => Bulls consider buying after these signals. Risk reduction can wait for AU to correct to better levels at 0.7090 and 0.7040, with targets around 0.7200 and 0.7320 region
Long
by UK_LEE
Gold prices grind between $1780 - $1815Gold prices grind between $1780 - $1815. The 4-hour chart indicates to be long above $1,815 and short below $1,780. Between these levels, traders will be at risk of whipsaw price action and sideways consolidation. Even so, a clear downside break of the stated support line, around $1785 by the press time, won’t be enough as multiple levels around $1780 also challenge gold bears. XAUUSD is poised to test its November low at 1,758.81, while below the latter the slide may continue towards the 1,700 figure. => Meanwhile, sustained run-up beyond $1,815 will get a conviction on crossing November 09 swing high near $1,833. Following that, gold can quickly target the $1,850 hurdle whereas the $1,870 and the monthly peak of $1,877 could entertain the bulls afterward.
OANDA:XAUUSD
by UK_LEE
2
Short at resistance levelsAUD/USD slumps to test 0.71 on Moderna's Omicron covid headlines. AUD/USD bulls have moved in at the start of the week, price correcting the daily bear trend. That said, selling pressure could escalate on the clear downside break of the immediate channel, supported around 0.7110. Support levels: 0.7105 0.7070 0.7025 Resistance levels: 0.7160 0.7200 0.7240 => Since this is the annual support zone of 0.7220 - 0.7100, the range is quite wide, this is a challenge for sellers and also an opportunity for buyers to return to the market. Therefore, trading around this area is quite dangerous and the risk is quite large. Should wait for the opportunity to sell at the upper resistance levels.
Short
by UK_LEE
1
Facing resistance at 1.3360 and 1.3390On the upside, GBP/USD is facing static resistance at 1.3360. In case a four-hour candle closes above that level, buyers could target 1.3430 (100-period SMA) and strong resistance 1.3520. This is also the zone where the sellers are ready to return to the market if there is a signal. In the meantime, if the bulls fail to push the price above 1.3360 - 1.3390, there could be an opportunity for the bears to return to the market and continue to push the GU down towards the 1.3270 and 1.3160 targets.
by UK_LEE
1
Short at resistance levelThe EUR/USD pair met sellers around the 23.6% retracement of its November decline at 1.1305, the immediate resistance level. Support level: 1.1245 1.1200 1.1165 Resistance level: 1.1305 1.1360 1.1430 In the short term and according to the 4-hour chart, EUR/USD is rising slightly and steadily above the EMA21 (1.1268), while technical indicators correct from overbought to sideways and favor the buyers. => The barrier of weekly resistance around 1.1305 - 1.1320 could be breached by buyers and headed to the next resistance areas 1.1360 and 1.1430. => The downside potential looks limited for the time being, though stronger declines can be expected on a break below the 1.1245 support, next targets at 1.12 and 1.1165. Besides, in the long term, the EU's downtrend is still quite strong, so the resistance areas are still good price zones for the sellers.
Short
by UK_LEE
1
Short if price is still below DMA21USD/JPY extends Monday’s rebound from three-week low, refreshing intraday low at the latest. USD/JPY stays on the front foot for the second consecutive day, up 0.16% intraday around 113.85 as Tokyo opens for Tuesday. For now, though, selling pressure ahead of the psychologically important 114.00 level and the 21DMAl near 114.10 just above it is preventing any further gains. While the 55-DMA and the current November low at 112.85/73 hold overall upside pressure should remain in play. Further down sits the 111.66 July high.
by UK_LEE
Gold prices grind between $1780 - $1815Gold prices grind between $1780 - $1815. The 4-hour chart indicates to be long above $1,815 and short below $1,780. Between these levels, traders will be at risk of whipsaw price action and sideways consolidation. Even so, a clear downside break of the stated support line, around $1785 by the press time, won’t be enough as multiple levels around $1780 also challenge gold bears. XAUUSD is poised to test its November low at 1,758.81, while below the latter the slide may continue towards the 1,700 figure. => Meanwhile, sustained run-up beyond $1,815 will get a conviction on crossing November 09 swing high near $1,833. Following that, gold can quickly target the $1,850 hurdle whereas the $1,870 and the monthly peak of $1,877 could entertain the bulls afterward.
OANDA:XAUUSD
by UK_LEE
Long if the price is still above area 1775-1780XAU/USD clings to modest recovery gains, remains below $1,800. Yields failed to cheer hawkish Fed Minutes, inflation data on Wednesday. Strong technical support around $1,780 - $1,785 also played its role to trigger the corrective pullback. + The recovery moves remain elusive until crossing the 200-SMA and the aforementioned support-turned-resistance area, respectively near $1,805 and $1,810-13. Following that, resistance near $1,845-1850 will be in focus. + Meanwhile, a clear downside past $1,780 will aim for the multiple lows near $1,759 before jostling with multiple supports near $1,748-47
OANDA:XAUUSDLong
by UK_LEE
Long if USDCHF is still above 0.9250=> => If the price corrects down to 0.9290 then 0.9250, this will be an opportunity for the bulls USD/CHF hits seven-week highs near 0.9350. While clearly above support at 0.9250, the USD/CHF could continue to look for more gains in the short-term. At support line, near 0.9250, to challenge short-term USD/CHF sellers. However, an ascending support line from November 09 and a firmer Momentum line favor USD/CHF buyers to aim for the 0.9340 immediate resistance. On the upside, the immediate resistance is located at 0.9350 and the previous month’s top of 0.9368 can act as an intermediate halt before directing the quote towards the yearly high, marked in April around 0.9475.
Long
by UK_LEE
Short if price continute to be hold 0.7310AUD/USD seesaws around seven-week low, snaps two-day downtrend. The price fell on Monday from 0.7273 to a new low of 0.7221. the A$ should remain under modest pressure given further weakness in Chinese steel prices/ super weak October steel production data, the continued slide in coal markets, the more dovish RBA Governor’s speech to the ABE last week. A test down to the 0.7170/ 0.7220 region remains the next objective while gains will be capped by the 0.7290/ 0.7310 region. => These are still supportive signals for the bears if the price continues to hold below 0.7310. However, the current support area is quite wide, making the risk level for sellers to be pushed higher, the short-term target will be around 0.7150-0.7160. => Meanwhile, the bulls will be challenged by the 0.7290-0.7310 resistance area. If this zone is broken, then 0.7400 is likely to be the next target.
Short
by UK_LEE
Sell if price is below 1.3510Currently, it is necessary to closely observe two important price zones: + Support zone 1.3350 - 1.3390, GBP/USD is consolidated in the opening session but the focus is on a test of 1.3350-1.3390 the figure. If this zone is broken, the bears will return to the market and push GU to 1.33 level and deeper to 1.3270 level. + Resistance zone 1.3480-1.3510. This is a big challenge for the bulls if they want to get back to holding the market. If it can be broken, the 1.36 will be next target.
Short
by UK_LEE
Short at the resistance+ EUR/USD slides below 1.1240 amid broad US dollar strength, after Biden nominates Powell. EUR/USD: The pair has a bearish bias, and the rallies have the potential of being sold, as a monetary policy between the Fed and the ECB, diverge. EURUSD continued to decline in the past session, causing the bulls' attempt to be completely broken. However, ahead is still a very strong 1.12 support area. The next area of key support resides in the 1.1140-1.1170 region, an area that will be closely watched by many of the bears. But technicians do note that EUR/USD is now heavily oversold, so be careful with sell orders at this time. + Contrarily, the 1.1200 figure would be the first support if the euro keeps falling. The next demand area would be June 19, 2020, low at 1.1168, followed by 1.1100. + On the upside, only a daily close above 1.1291 signals temporary trough is made and may risk stronger retracement towards 1.1350 and 1.1430.
Short
by UK_LEE
Long if UJ is still above the support zone (113.70-114.00)USD/JPY remained subdued in the overnight session, but in the Powell news, rallied 60 pips. Two important price zones need to be observed: 114.70-115.00 and 113.80 - 114.00. This is an area that will make the bulls come back to hold the market. In the daily chart, the USD/JPY depicts an upside bias. The daily moving averages (DMA’s) reside below the spot price, though approaching an interest level around the 114.70-115.00 area, unsuccessfully broken three times. However, a daily break above the 115.00 figure would open the door for further gains. 20-DMA and two-week-old rising trend line, respectively around 114.00 and 113.80, limits immediate downside of the quote.
Long
by UK_LEE
Long if 1803 become a fail breakoutGold Price: Poised to challenge a critical support at 1,803.70. Markets welcome US Pres. Biden’s decision to nominate Powell for Fed Chair, Clarida as vice Chairman. Gold (XAU/USD) defends the $1,800 threshold following the heaviest daily fall in over 10 weeks. => Long if 1803 become a fail breakout. That said, the yellow metal picks up bids to $1,817 , 1826 and 1840. It should be noted, however, that gold’s weakness past the DMA convergence, around $1,794-92, will be challenged by the 38.2% Fibonacci retracement (Fibo.) => Meanwhile, 50% Fibo. level of $1,817 may challenge gold’s corrective pullback, if any, before the stated support-turned-resistance near $1,840.
OANDA:XAUUSDLong
by UK_LEE
LongThe metal jumped to the highest in five months, also crossed the key upside hurdles near $1,832-34. On these last, the 20 SMA is extending its advance beyond the longer ones, reflecting the increased buying interest. Gold is extremely overbought also in the near term. The Momentum indicator has lost its bullish strength, modestly retreating from its daily peak. At the same time a bullish 20 SMA, provided intraday support, currently at 1,825.75. Support levels: 1,844.30 1,833.95 1,819.30 Resistance levels: 1,868.54 1,883.00 1,895.20
OANDA:XAUUSDLong
by UK_LEE
2