Hello, another Monday morning. We immediately start with an overview of what can be seen on the charts.
EURUSD H1 We see a triangle forming from which we have a chance to exit upwards. Continuing the upward movement would make sense and would confirm last week’s analysis. However, we do not assume anything in the dark and we only make the investment when the price comes after the formation, and it is best to retest.
GBPUSD H1 during the Asian session the price of the currency pair reached a resistance which for a while turned out to be solid. Currently, the correction already started is likely to remain at the level indicated in the image. Fibo levels can be reached at the places marked with crosses. This is not a hard level that I am assuming, but due to trend lines I take seriously the possibility of going long at fibo 50 or 61.8 if the condition of my strategy occurs. The condition that will signal a possible price reversal, just a correction.
USDCAD H4 The currency pair on Friday let me down a lot. Unfortunately, my growth assumption turned out to be hopeless. I expected the US dollar to strengthen and we all see what is happening. I wonder if such an action is not intentional. But from the US dollar, I expected something more. Currently, the support level coinciding with the wedge line may be the target point from which the correction will take place. I’m not going to play this pair at the moment.
H1 silver has been moving better than gold lately (sometimes more predictably). On Friday, I regretted a bit that I had not made the decision to enter silver instead of gold, which I finally closed to zero. Currently, after the pump from the forum reddit, the course moves in a relatively wide range. After breaking the designated resistance, we have a chance to break the price up, but until then we consider the rate as a broad consolidation.
H4 gold, just like silver, in which there is a chance for a stronger move up. However, gold shows a downward trend and you should bear this in mind when deciding to go long. He plans to make decisions about a possible position in the place marked in the picture. If the price reacts and rebounds, my intention is to go short after the retest.
Crude oil, which has already reacted to the set level, is now in the phase of local corrections. Personally, I took one short position ahead of the data which, despite the assumptions, was definitely better than expected, but unfortunately it closed at zero, and then the rate went in the assumed direction. But that’s the market, and better 5 times zero than 1 negative. After such large gains, basically without corrective actions recently, now I expect the OverBalance formation to fill. It is possible to reach the designated level, or to the second support that coincides with the designated range of the largest correction in the trend movement.
BTCUSD H1 shows that the trend is definitely very strong. Local adjustments are not very intense. If someone observes cryptocurrencies more precisely, he will notice that BTC does not have large volumes even on downward corrections, the volumes of trading in the stock appear at the time of buying by investors hoping for further increases. Thanks to this, you can see where the strength lies all the time and it is worth keeping in mind.