There is no point trying to predict or forecast where price will go. You will never be able to do so, otherwise there will be many more billionaires in the world. Price is telling you where it wants to go. FOMC was very unpredictable but mainly ...

Pro7 PA trading analysis 28+GOLD

Based on 4H time frame and current push down, if it gives a good bearish candle and FOMC follows up, we could see a break of 107.47x and head lower into 106.529 Fib extension. Currently it does not seem like it wants to go into 109.22 but anything ...

Pro7 PA trading analysis 28+GOLD

Loads of scalping buys and finally all positions closed at 1774. The 4H candle is looking pretty strong right now. Edit - took a look at the move down and drew a fib retracement, not a pretty fib line but if it coincides, we'd be looking at 38.2 at ...

Pro7 PA trading analysis 28+GOLD

FOMC affects USD which affects XAUUSD if that's what you're asking.

Pro7 PA trading analysis 28+GOLD

From the 4H price action, we see a ton of wicks + close to oversold and we are still supported by 1767.32 support. It may go up to test some resistance levels around 1775/1777, but really all depends on FOMC at this point.

Pro7 PA trading analysis 28+GOLD

Yes sir I see it at 109.22 but right now it seems like we're waiting for FOMC. Still overbought on 4H, looking for that drop down actually.

Pro7 PA trading analysis 28+GOLD

I see a lot more to come for USDJPY to drop on 4H but FOMC could take that right out of the picture.

Pro7 PA trading analysis 28+GOLD

USDJPY is currently turning down from previous support 8 Apr and resistance 14 Apr at 109.063. If hourly pushes down here, we can expect a retest of 108.48.

Pro7 PA trading analysis 28+GOLD

Yes I am also waiting for this to play out. A small retracement into 1774 area and then back down to tap 38.2 and likely longer term back all the way to break 1800. Another scenario would also be it touches 38.2 now and then breaks 1800 after. Or it ...

Pro7 PA trading analysis 28+GOLD

We have a bullish candle on 30m bar in oversold territory, currently still being capped by 1770. Breaking 1770 would give us a chance to see 1774. Downwards movement still being capped by 1767.32 support level.

Pro7 PA trading analysis 28+GOLD

I also have a 1767 support level from 15 April resistance and 19/20 April support level. Expecting a retest towards 1774 first and see what PA does. Edit - price is currently oversold from 15m to 1h time frames. But bearish action may continue. FOMC ...

Pro7 PA trading analysis 28+GOLD

USDJPY has touched 108.81 and pushing through, this opens up 50 retracement level at 109.22. If it reverses from there, look for a break or double bottom at 107.47.

Pro7 PA trading analysis 28+GOLD

We have hit 1770 and now possibly looking to 1752 based on daily time frame. If we fully reverse from 1752, it is likely we will break 1800.

Pro7 PA trading analysis 28+GOLD

USDJPY broke 108.48 resistance and is heading towards 38.2 retracement level at 108.81. 4H looks to be overbought soon, there may be a possibility if it bounces off there, we will break 107.47 and head into 106.xx territory.

Pro7 PA trading analysis 28+GOLD

Well I can see where you're coming from but I don't really like to take sides on which way price wants to go. More of open to anything goes. The way I see it, we either break 1797 or 1770 as per your charts.

Pro7 PA trading analysis 28+GOLD

I was actually in the buy on this as it was oversold, pretty good profits here!

Pro7 PA trading analysis 28+GOLD

On the daily, it is possible for gold to fall towards 1770 or lower to 1752, retracement for a push up. If it pushes up from here, likely we'll be seeing a much bigger drop later on.

Pro7 PA trading analysis 28+GOLD

Broke previous resistance level at 108.25 and came back down, currently sitting at previous resistance possibly turning support. Could look further towards 108.48 which was resistance on 20th April.

Pro7 PA trading analysis 28+GOLD

USDCAD looks oversold here. Based on PA, should expect some retracement or possible reversal. Retesting previous resistance level around 1.24815 seems possible.

Pro7 PA trading analysis 28+GOLD

If we observe the daily time frame, you can see that this has been a retracement from January lows to March highs and stopped at 38.2. Wicks + oversold indicators along with a bullish candle on yesterday's close likely indicate bullish movement to ...

USD/JPY Discussion