Welcome. I go through the charts and you don’t see much at first glance. Often, after the weekend, you have to wait to see “this” direction.
Daily R3 16180
Daily R2 16150
Daily R1 16120
Daily PP 16090
Daily S1 16060
Daily S2 16030
Daily S3 16000
The German index was falling throughout the Asian session, so now there is a chance for a rebound, but if the local support breaks through the picture, we will continue to decline. The first control point will be the boundary of the trendline that traced the lows during the gains. Second place will be OverBalnace which I showed last week.
Gold is still in an uptrend. Despite high expectations of colleagues from forums for a decline and a nice correction, the price of gold is constantly rising. In fact, last week I started my Monday review with that 😉 I have now marked the Local Trendline to be defended, but I am considering a downward break to “clear” security and colloquially known as “weak hands”. After the low interval, you can still see declines, so I would refrain from long positions.
According to the analysis from the previous week, there is a reaction to the indicated level. Support that initially held the price and a buy signal appeared. Looking at the general trend from the image I pasted, you can see a decline, and only after the red trend line breaks will there be a signal for long positions because then it will be possible to change the trend. However, I also use possible corrections, and when an opportunity arises, I try to take advantage of pure opportunities. In this currency pair, there was a signal in the form of a rebound from the support that I was waiting for, but the signal to enter is only to keep the price on a low time interval, which gives confirmation and the possibility of taking a risk.