Daily reviews

The gold price achieved a strong breach of the 1825.15 level and ended yesterday’s trading below it, which stops the suggested positive scenario in our recent reports and leads the price to shift to the downside, on its way to test the 1797.00 level initially, noting that breaking this level …

The descendant wave structure is truncated. The support level of 0.8975 restrains sellers. Awesome Oscillator, as well as Stochastic Oscillator, indicate bullish divergence.

Trade idea: 

Buy when an ascendant wave structure starts forming, where a wave (A) pierces the inclined channel of the descendant truncated structure.

Stop loss below the …

#OR

The general trend is ascendant. The descendant wave structure has finished piercing the inclined channel. Awesome Oscillator indicates bullish divergence and Stochastic Oscillator signals oversold conditions.

Trade idea: 

Buy when the 376.00 level is breached.

Stop-loss — 362.00.

Target levels: 400.00; 431.00.

News for today, Wednesday, January 26

Asian stocks are getting quiet waiting for the new Fed’s decision about tightening monetary policy and soon interest rates hikes. Japan’s Nikkei 225 slipped 0.37%, and MSCI’s broadest index of Asia-Pacific outside Japan decreased by 0.1%.

Gold price is floating at the two-months highs …

Gold price resumed its positive trading noticeably yesterday, reinforcing the expectations of the continuation of the bullish trend’s dominance, which is organized within the bullish channel that appears on the image, and gets continuous positive support from the EMA50, waiting to test the level of 1860.00, whose breach represents the …

The pair rebounded to the upside after the 1.3460 level formed strong support in front of the descending wave, to test the pivotal resistance 1.3530 now, accompanied by the stochastic loss of positive momentum clearly, while the EMA50 forms continuous negative pressure in front of the price.

Therefore, these factors …

The general trend is ascendant. The descendant wave structures of H4 and H2 are truncated at the moment. Awesome Oscillator indicates bullish divergence and Stochastic Oscillator signals oversold conditions.

Trade idea:

Buy when the ascendant wave structure forms, where a wave (A) pierces the inclined channel of the descendant truncated …

Gold price resumed its positive trading after the decline it witnessed yesterday, as it consolidated above 1830.00 level, to keep the bullish trend valid on the intraday term, organized within the bullish channel that has positive targets that start by testing the 1860.00 areas.

The moving average 50 supports the …

News of the day, Tuesday, 25 January

Foreign enterprises operating in China became very vulnerable with the new Omicron variant spread. China’s strict localized lockdown strategy has been showing a delightful performance so far, but that was an “old” COVID-19 case. The contagious Omicron might cause more lockdowns. Surely, they …

The GBP/USD pair traded with strong negativity yesterday, to achieve our first extended target of 1.3460 and try to break it, affected by the previously completed double top pattern, waiting for more decline to visit 1.3400 as a next corrective station.

Therefore, we expect the bearish bias to continue in …