Guest post Price action medium-term trading analysis for EURUSD, AUDUSD, NZDUSD, XAUUSD.
EURUSD
From a technical (and fundamental) point of view, the overall market conditions are bearish for Euro and that is a trend we’re looking signals from. On Friday NFP caused 1.230 area support to be broken and gave us confirmation of the bearish trend. So far, no good signals to trade but we’re hoping, not for long. Don’t be a hero chasing for a bottom.
AUDUSD
Range conditions from the daily chart. Trend-line is holding price lower but there is also a great pin bar from 0.6750 area which is still valid BUT…Pin bar has formed on January 03. 2019, and today is March 09. 2019. More than 3 months have passed and still, there is no upward resolution in the sense of 2,3 or more Risk-to-Reward. My personal rule is to wait no more than 2 months for profits and PA signal to succeed but if you like, you can take this signal ALTHOUGH I wouldn’t at this point in time. Remember that from a larger perspective trend is bearish.
NZDUSD
Triangle from a school book. All edges are respected from both sides. Wait for a breakthrough and do accordingly.
Gold
Gold is in a bullish trend looking from a daily chart. Support in 1280 area held the pressure and rejected price. Unfortunately, without a good PA signal. We are on a sideline for a time being.
Until next week, see you!!
Darko has over 4 years of experience with the Price action trading, 6 years trading part-time. Tradingview handle DARKO551
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