Welcome to the Monday lovers’ day. February 14 is an important day for many, but will it be the same in the financial markets? We’ll see today. One thing intrigued me especially that February 14 is the second holiday as profitable for entrepreneurs as Christmas. Interesting thing ?
Gold has behaved in line with the previous analysis. Perhaps someone noticed by the way, but we are very effective. Maybe, among other things, that I analyze a little less instruments, so I know them better and more accurately predict the behavior of the market.
On the gold chart, you can see that after the correction at the level I have described recently, the price after the macroeconomic data has shot up strongly in a large volume. Currently, I am waiting for a signal that will allow to take into account the long position, because as you can see the first support is in the game. However, I am considering two more levels at which I will be looking for a signal. Without a signal, I do not go to the transaction, because I prefer to lose an opportunity rather than money.
The current situation of the British pound looks like it looks like. For me, there is not much going on here, and broad consolidation does not help in an accurate analysis of the upcoming moves in the session. The first image is the H4 time interval marked with a square. This area is the place where I will be looking for signals on the consolidation level, but a specific move can be caught after the exit and continuation. The second picture is the possible range for the price drop scenario. On this route, when the price goes down, I will look for down positions. Only in the place marked with the arrow will I wait for what will happen. Of course, when the market says otherwise, you can’t fight, but the initial assumptions are just like that.
The second option is, of course, a further increase in the price, but here I do not have the maximum level because the started trend can last up to six months.
The situation of one of the most played currency pairs worries me a bit. The reason for my worries is the situation shown on the chart. We can see that the resistance has not broken, and the price is now at the control level where the bulls were fighting the bears before. If the price does not return to the resistance shown, there will be little chance of an increase and unfortunately I will expect a further decline in price. A return to the resistance level will mean that there is a strong desire to break and each subsequent test will weaken the level that may eventually break on a large volume without a correction.