Gooood Morning Afternoon and Evening to you all!
I hope where some of our analysis didn’t come through your robots have come out shining!
Now to put your mind at ease I’m just going to get straight to it!
It would be very interesting to see if we get a break and hold above the resistance zone 1511 an ounce to suggest further upside potential of gold! Looking at 1532 an ounce.
Gold Tip: Never forget what makes a market a willing seller and a willing buyer stuff like Gold and Silver very rarely gets used and therefore whatever sits begins to decay with time!
Always be on the look out for jewellery companies that have a ticker on the stock market such as these 4 below that have returned an impressive 500% in the past 5 years!
PC Jeweller Ltd 557.1%
Rajesh Exports 557.43%
Titan Company 101.67%
Vaibhav Global 201.68%
Next up let’s look at the GBPCHF
We were expecting a little push to the upside of supply first before a Freefall to the downside however we got the drop first!
How could this trade be taken? Well remember the analysis is on a Daily Timeframe sometimes ( the majority of times ) you have to fine tune your entry on a smaller timeframe such as the H4 just below!
As soon as we got that well protected support zone @1.21746 the market should’ve been sold off!
Tip: Waiting for the break of Support or Resistance can get tedious by Placing Sell limits or Level Alerts giving you precise market entries!
Ok next up we’re looking at the GBPUSD and EURSGD as some very bold moves have developed on these pairs!
GBPUSD Originally confident we were gonna see some bullish momentum from the Green zone to confirm the upward bias however strong fundamental data today suggested otherwise so let’s dive in deeper!
If this Daily Candlestick holds outside of the Ascending Trendline we are looking for bearish momentum towards the 1.20226 region! I don’t believe this will come With ease as we are due a pullback to the original supply zone
Let’s see how far down this news driven event will take the GBPUSD something to keep a mindful eye on!
Next up is the EURSGD a very expensive asset to trade but nevertheless it’s still tradable!
Originally hedged our bets to go long on this asset for a short period but seeing a lot of bearish sentiment within the market.
I believe it’s correlated with the EURUSD which we are currently short on!
And only makes sense to follow the same direction when trading the EURSGD!
This brings us to the end but I hope you have found this useful especially in terms of looking at precious metals from a different aspect!
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