GOLD Weekly Technical Analysis UpdateMidterm forecast:
. 1818.00 is a major support, while this level is not broken, the Midterm wave will be uptrend.
Technical analysis:
. While the RSI uptrend #1 is not broken, bullish wave in price would continue.
. A peak is formed in daily chart at 1818.00 on 07/07/2020, so more losses minimum to Major Support (1818.00) is expected.
. Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
. Relative strength index (RSI) is 83.
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Dollar
Don't miss the great sell opportunity in AUDUSDTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (0.714). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. AUDUSD is in a range bound and the beginning of downtrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 40.
Take Profits:
TP1= @ 0.7085
TP2= @ 0.7060
TP3= @ 0.7035
SL: Break Above R2
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Don't miss the great sell opportunity in NZDUSDTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (0.6655). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. NZDUSD is in a range bound and the beginning of downtrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 41.
Take Profits:
TP1= @ 0.6630
TP2= @ 0.6600
TP3= @ 0.6580
TP4= @ 0.6530
TP5= @ 0.6495
SL: Break Above R2
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Platinum Update: Profit=128513 SL=19901 Reward/Risk > 6.5:1 Trade Setup summary:
Profit targets=128513 pip (4059 + 6584 + 9744 + 15994 + 23224 + 29189 + 39719)
Stop Loss =19901 pip
Reward/Risk > 6.5: 1
Current Status:
Total Profit: 122387 pip
Closed trade(s): 20387 pip Profit
Open trade(s): 51000 pip Profit
Trade Setup:
We opened 7 BUY trade(s) @ 805.00 based on 'previous Forecast' at 2020.07.06 :
Closed Profit:
TP1 @ 837.90 touched at 2020.07.06 with 4059 pip Profit.
TP2 @ 863.15 touched at 2020.07.21 with 6584 pip Profit.
TP3 @ 894.75 touched at 2020.07.22 with 9744 pip Profit.
4059 + 6584 + 9744 = 20387
Open Profit:
Profit for one trade is 907.00(current price) - 805.00(open price) = 10200 pip
4 trade(s) still open, therefore total profit for open trade(s) is 10200 x 4 = 51000 pip
Break-Even 805.00
Technical analysis:
. Platinum is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 70 .
Trading suggestion:
. There is still a possibility of temporary retracement to suggested support line (863.15) again. if so, traders can set orders based on Price Action and expect to reach short-term targets.
Take Profits:
TP4= @ 957.25
TP5= @ 1029.55
TP6= @ 1089.20
TP7= @ 1194.50
SL= Break below S2
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BTCUSD Update: Profit=373800 SL=81600 Reward/Risk > 4.6 : 1Trade Setup summary:
Profit targets=373800 pip (24200 + 34100 + 43200 + 66900 + 85700 + 119700)
Stop Loss =81600 pip
Reward/Risk > 4.6 : 1
Current Status:
Total Profit: 70348 pip
Closed trade(s): 24500 pip Profit
Open trade(s): 45848 pip Profit
Trade Setup:
We opened 6 BUY trade(s) @ 9212.00 based on 'previous Forecast' at 2020.07.15 :
Closed Profit:
TP1 @ 9285.0 touched at 2020.07.21 with 7300 pip Profit.
TP2 @ 9384.0 touched at 2020.07.21 with 17200 pip Profit.
7300 + 17200 = 24500
Open Profit:
Profit for one trade is 9326.62(current price) - 9212.00(open price) = 11462 pip
4 trade(s) still open, therefore total profit for open trade(s) is 11462 x 4 = 45848 pip
Break Even 0.658
Technical analysis:
. BTCUSD is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 59.
Trading suggestion:
. There is still a possibility of temporary retracement to suggested support line (9220.00) again. if so, traders can set orders based on Price Action and expect to reach short-term targets.
Take Profits:
TP1= @ 9285.00
TP2= @ 9384.00
TP3= @ 9475.00
TP4= @ 9712.00
TP5= @ 9900.00
TP6= @ 10240.0
SL= Break below S2
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Don't miss the great buy opportunity in AUDUSDTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (0.7075). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. AUDUSD is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 74.
Take Profits:
TP1= @ 0.7145
TP2= @ 0.7190
TP3= @ 0.7220
SL= Break below S2
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There is a trading opportunity to buy in BNBUSDMidterm forecast:
. While the price is above the support 15.015, resumption of uptrend is expected.
. We make sure when the resistance at 18.880 breaks.
. If the support at 15.015 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
. The RSI downtrend #1 is broken, so the probability of resumption of uptrend is increased.
. While the RSI uptrend #2 is not broken, bullish wave in price would continue.
. A trough is formed in daily chart at 16.500 on 07/16/2020, so more gains maximum to Major Resistance (18.880) is expected.
. Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
. Relative strength index (RSI) is 59.
Trade Setup:
We opened 5 BUY trade(s) @ 17.713 based on 'Valley' entry method at 2020.07.21.
Take Profits:
TP1= 18.880
TP2= 20.800
TP3= 22.600
TP4= 26.580
TP5= Free
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SILVER Technical Analysis UpdateMidterm forecast:
. 18.95 is a major support, while this level is not broken, the Midterm wave will be uptrend.
. We will close our open trades, if the Midterm level 18.95 is broken.
Technical analysis:
. While the RSI uptrend #1 is not broken, bullish wave in price would continue.
. A trough is formed in daily chart at 17.35 on 06/24/2020, so more gains to resistance(s) 22.15, 23.05, 25.10 and more heights is expected.
. Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
. Relative strength index (RSI) is 83.
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Don't miss the great buy opportunity in EDOUSDTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (0.7900). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. EDOUSD is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 76.
Take Profits:
TP1= @ 0.9900
TP2= @ 1.1500
TP3= @ 1.4200
TP4= @ 1.8000
SL= Break below S2
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Don't miss the great buy opportunity in BTCUSDTrading suggestion:
. There is a possibility of temporary retracement to suggested support lines. if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. BTCUSD is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 50.
Take Profits:
TP1= @ 9285.00
TP2= @ 9384.00
TP3= @ 9475.00
TP4= @ 9712.00
TP5= @ 9900.00
TP6= @ 10240.0
SL= Break below S2
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GOLD Weekly Technical Analysis UpdateMidterm forecast:
. While the price is below the resistance 1818.00, beginning of downtrend is expected.
. We make sure when the support at 1660.25 breaks.
. If the resistance at 1818.00 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:
. While the RSI uptrend #1 is not broken, bullish wave in price would continue.
. A peak is formed in daily chart at 1818.00 on 07/07/2020, so more losses to support(s) 1802.55, 1779.25, 1765.05 and minimum to Major Support (1660.25) is expected.
. Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
. Relative strength index (RSI) is 67.
Don't miss the great buy opportunity in OMGUSDTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (1.5200). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. OMGUSD is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 65.
Take Profits:
TP1= @ 1.6000
TP2= @ 1.6350
TP3= @ 1.7600
TP4= @ 1.8500
TP5= @ 2.0200
SL= Break below S2
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Don't miss the great buy opportunity in ETPUSD Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (0.1230). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. ETPUSD is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 84.
Take Profits:
TP1= @ 0.2180
TP2= @ 0.2570
TP3= @ 0.3150
TP4= @ 0.3920
TP5= @ 0.4390
TP6= @ 0.5120
TP7= @ 0.5720
TP8= @ 0.7110
TP9= @ 0.9000
SL= Break below S2
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Don't miss the great sell opportunity in NZDUSDTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (0.657). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. NZDUSD is in a range bound and the beginning of downtrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 40.
Take Profits:
TP1= @ 0.6500
TP2= @ 0.6470
TP3= @ 0.6440
SL: Break Above R2
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Don't miss the great buy opportunity in USDJPYTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (107.2). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. USDJPY is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 70.
Take Profits:
TP1= @ 107.4
TP2= @ 107.6
TP3= @ 107.73
TP4= @ 107.90
TP5= @ 108.16
SL= Break below S2
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Don't miss the great sell opportunity in NZDUSDTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (0.658). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. NZDUSD is in a range bound and the beginning of downtrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 31.
Take Profits:
TP1= @ 0.6520
TP2= @ 0.6495
TP3= @ 0.6465
SL: Break Above R2
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Don't miss the great buy opportunity in USDCHFTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (0.9405). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. USDCHF is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 62.
Take Profits:
TP1= @ 0.9450
TP2= @ 0.9470
TP3= @ 0.9502
TP4= @ 0.9525
TP5= @ 0.9553
SL= Break below S2
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SILVER Weekly Technical Analysis UpdateMidterm forecast:
. While the price is above the support 16.50, resumption of uptrend is expected.
. We make sure when the resistance at 18.95 breaks.
. If the support at 16.50 is broken, the short-term forecast -resumption of uptrend- will be invalid.
. We will close our open trades, if the Midterm level 16.50 is broken.
Technical analysis:
. While the RSI support #1 at 45 is not broken, the probability of price decrease would be too low.
. A trough is formed in daily chart at 17.35 on 06/24/2020, so more gains maximum to Major Resistance (18.95) is expected.
. Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
. Relative strength index ( RSI ) is 67.
Brent Crude Oil Important technical analysis updateMidterm forecast:
. While the price is below the resistance 44.55, beginning of downtrend is expected.
. We make sure when the support at 36.95 breaks.
. If the resistance at 44.55 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:
. There is a divergence in RSI and price between the peak at 43.315 on 2020-06-08 and the peak at 43.93 on 2020-06-23, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
. While the RSI support #1 at 50 is not broken, the probability of price decrease would be too low.
. A peak is formed in daily chart at 43.80 on 07/06/2020, so more losses to support(s) 42.20, 40.00 and minimum to Major Support (36.95) is expected.
. Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
. Relative strength index ( RSI ) is 62.
Don't miss the great buy opportunity in USDCADTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (1.353). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. USDCAD is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 52.
Take Profits:
TP1= @ 1.3710
TP2= @ 1.3850
TP3= @ 1.4010
TP4= @ 1.4150
TP5= @ 1.4665
SL= Break below S2
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Don't miss the great buy opportunity in NEOUSDTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (9.59874). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. NEOUSD is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 52.
Take Profits:
TP1= @ 12.55810
TP2= @ 14.50133
TP3= @ 16.87258
TP4= @ 20.61120
TP5= @ 24.30101
SL= Break below S2
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Don't miss the great buy opportunity in ETHUSDTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (229.34). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. ETHUSD is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 73.
Take Profits:
TP1= @ 229.34
TP2= @ 222.85
TP3= @ 211.61
TP4= @ 201.56
TP5= @ 193.39
SL= Break below S2
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Don't miss the great buy opportunity in EURUSDTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (1.129). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. EURUSD is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 65.
Take Profits:
TP1= @ 1.1350
TP2= @ 1.1425
TP3= @ 1.1495
TP4= @ 1.1565
TP5= @ 1.1620
SL= Break below S2
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