Gold and Forex analysis at the beginning of 05/01 - Some patterns and price zones to note

in #gold4 years ago

ANALYSIS # GOLD 1 HOUR CHART

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Previous market: Buy # gold. Results are not in
Current trend: # gold rose
Today's market: Buy # gold
Attention: After the gap created a breakout - breakout - up from the old high earlier yesterday, # gold had a spectacular bullish wave, pushing it from 1908 up to 1946. This rally is strong because it shows through a series of continuous upwards candles. Currently, this upside wave is suspended when # gold enters a period of sideways accumulation. The short-term trend of # gold is to be quite bullish.
#USDJPY ANALYSIS 1 HOUR CHART

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Previous market: Sell #USDJPY. Results are not in
Current trend: #USDJPY is flat
Today's market: Sell #USDJPY
Note: We could see a V pattern in the price movement of #USDJPY yesterday. At the beginning of the day #USDJPY fell, broke the bottom 103.00, went down to 102.70, but after the European session opened, #USDJPY turned up. This type of bottom-up and back-up movement can be seen as a false break - false break - indicating buying pressure below the 103.00 circle on #USDJPY. However, the above #PPZ stop has not been broken and we could take that zone to find a bearish reversal for #USDJPY.
#AUDUSD ANALYSIS 1 HOUR CHART

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Previous market: Buy #AUDUSD. Results hit the bottom
Current trend: #AUDUSD is flat
Today's market: Buy #AUDUSD
Note: At the beginning of yesterday #AUDUSD increased and retested - retest - old peak was around 0.7740 but could not be surpassed, then formed a Double Top chart pattern - Double Top - then reversed back down. The falling momentum to the #PPZ zone below combined with the uptrend line - bullish trendline - then bounced back up after forming a Pinbar. If #AUDUSD falls back to the Pinbar area, it could form a Double Bottom pattern - and possibly bounce back up again.
#NZDUSD ANALYSIS 1 HOUR CHART

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Previous market: Buy #NZDUSD. Stop loss results.
Current trend: #NZDUSD is flat
Today's market: Buy #NZDUSD
Note: #NZDUSD repeats almost exactly what #AUDUSD does, it is retest - retest - old peak and then decrease, to the confluence between the trend line and #PPZ, it forms a pinbar and then turns up. So a long wait to buy strategy can be used on #NZDUSD today like #AUDUSD.
** Summary of markets according to the previous analysis: 1/4 hit the bottom, 2/4 failed to enter, 1/4 stopped loss

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