Technical Analysis

Gold Descending ZigZag Marks the Downtrend


Source: Admiral Markets MT5 with MT5SE Add-on - Gold Daily Chart

Gold has formed a descending zigzag pattern suggesting further bearish movement. The POC zone where the sellers might be appears to be between 1199.25-1205. Rejection from the zone targets 1181 and 1169.70, only below W L3, and the price...


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​USD/CAD Potential Trend Line Retest


Source: Admiral Markets MT5 with MT5SE Add-on

The USD/CAD has broken through the trend line and we might see a retest on a bullish retracement. 1.3094-1.3104 is the POC zone and fresh selling is expected if the price gets into the zone. Targets are 1.3049 and 1.3027. A break of...


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​EUR/USD Bullish SHS Pattern Within 1.1350 Zone


Source: Admiral Markets MT5 with MT5SE Add-on

The EUR/USD has formed a bullish Head and Shoulders pattern with the right shoulder being within the 1.1350 zone. If the price closes above the trend line, it will mean a potential breakout to the upside targeting 1.1477. However if the price breaks...


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​DAX30 Possibly Targeting 12050 Zone


Sources: Admiral Markets MT5 with MT5SE Add-on

The DAX30 has made a break below the trend line and at this point it is still trapped below the W L4 camarilla pivot. POC 12300-325 is the first POC zone that could initiate fresh selling if the price retests it. POC2 12500-520...


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​EUR/USD Monthly Support Retest is Possible Only Above 1.1350


Source: Admiral Markets MT5 with MT5SE Add-on

The EUR/USD dipped way below M L5 Pivot (Strongest Monthly Support) and currently it is below the Weekly L3 pivot. This indicates a strong downtrend with a potential for further bearish pressure. Only a close above 1.1350 might initiate a bullish correction towards...


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