FOREX potential trading setups #7

Continuation of previous forex analysis –

DXY

For DXY, this was the expected move –

And the move went almost like that – I was expecting the price to retest 102.5 at least, but we’ve seen the dollar losing power based on the last couple of news.

For the following weeks, I expect the price to stay in a range below the 100 area, and we will probably see a dump on it once we see another rate cuts.

XAUUSD

For gold, this was the expected move –

The price went right up, but haven’t came back for a retest and I didn’t wanted to force a trade.

The prediction for the upcoming period is to see the price retracing back to that support level, taking down liquidity from previous lows. We’ve just seen a rejection from 1.618 fib level.

SPX

This was the expected move –

The price rocketed high, and a retrace would be healthy. I’ll be looking for a long position in that imbalance on the left.

NDX

For the next period, I expect the price to retrace and then push over the old ATH.

BTCUSD

For the upcoming weeks, I expect bitcoin to be bullish, similarly to the stock market, after a retrace.

Conclusion

We had rate cuts recently and the market appear to be pushing for new highs.

By admin