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Hello again. Another week ahead. What is expected this week? Follow the trend calmly. Volatility starts to decline before the period we’re in. We will still see strong movements, but not those we are used to.


The macroeconomic situation does not indicate a strengthening of the US dollar. The data that will be released this week is forecast to be slightly changed from previous readings. In the chart, we can see the trend that has formed. Higher lows and highs show where the price is going. I have marked the line that will be our limit, after crossing it, we will look for short positions, until then we have an upward trend all the time.


In the chart, we see another attempt by investors to raise the price. Last week, the resistance was not broken until the end of the session, which was tested for the fourth time. As you know, each subsequent attempt to test a level weakens it more and more. This is due to buying orders in such a place, and if the other side of the market has more money, such resistance will eventually be broken (usually with great force on a large volume of trading). Before that happens, we are in a downward trend.


Gold stopped again this time over the support from the previous consolidation. This is exactly what I have marked in the image in the shaded rectangles. At the moment we have a fairly clear situation to develop. We assume a continuation in line with the local upward trend. But if the price level marked with a cross breaks out, we will look for a place to go short.


As assumed, the German index returned to the upward channel, but not in the way I expected. We see that once again the price has stopped at the resistance point and unfortunately the situation is still not resolved. Five attempts to break the resistance are a good signal that the next one will be successful, so if the price goes up, I am going to leave the long position and wait. At the time of writing this analysis, the signal from the low time interval remains for the short position, but I open the first position no sooner than a few minutes after the start of the European session, so by then the indicated level may be attacked.

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