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Gold to Continue Bearish Trend

Jignesh Posted 30 Jan. as Analysis on XAU/USD, Target: 1238.4400, Date: 2nd of March, 12:00 GMT  in #Technical analysis #Commodities #Gold #Elliott Wave #Wave Count #XAU/USD #Xauusd #Metal #Bear Trend
Gold is in a long term down trend and has seen some bullish momentum to start the year. The shiny metal has approached some resistance however and the wave count shown below indicates a turning point.
The metal should be under pressure for the month of February, but as the daily trend is currently bullish, dips may be bought causing some volatility to the downside.
Levels
1307.47 - Jan High
1301.00 - Jan Daily close High
1282.88 - Fib Retracement - 50% (1132.08 - 1433.70)
1265.95 - Fib Re…
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3 Comments
SalviLeana avatar
SalviLeana 30 Jan.

Good job ! Great

Jignesh avatar
Jignesh 9 Feb.

Gold has already surpassed the target on the back of a strong NFP number that took out several support levels.  Currently sitting just Below 1240, the pairs looks like it has just broken a flag patter and looking to retest lows

Jignesh avatar
Jignesh 25 Feb.

Gold looks like it may have made a bottom here at 1200.    It has surpassed the targets.  We can see some bullish movement into the end of the month, but reaching targets with 2 days left does not look likely

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NZD/CAD Downward Channel

Daytrader21 Posted 30 Nov. as Analysis on NZD/CAD, Target: 0.8763, Date: 2nd of January, 12:00 GMT  in #Technical analysis #Support #Resistance #NZD/CAD #Downward Channel #Bear Trend
NZD/CAD is turning from an bullish trend into a bearish trend after we succeed in breaking the upward channel (see Figure 1) Since mid-2013 we have moved in and consistent upward channel and at the same time bullish trend. But we have turned back after we broke away from this channel and current price structure of this down wave looks very stepper signaling the bears are in control and we should expect further downside movement.
Figure 1. NZD/CAD Weekly Chart

From the weekly cha…
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Daytrader21 8 Dec.

Update 1: As expected last week the momentum was pressing to the downside but there is a little more to go before we hit our first support zone at 0.8700 level before to see any reaction to the upside. To the upside major resistance level is at 0.8900 ahead of the big round number 0.9000.

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Daytrader21 22 Dec.

Update 2: As long as we stay below 0.9000 big round number the bearish trend remains intact. Currently the sentiment is neutral at this level as both the bears and bull try to regain control of this market. We need a break and a close below that level before the market to resume downward

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