Which technical analysis do you prefer for Intraday trading?

For intraday trading, one should know candle sticks well.

Candle stick is thought process of buyers and sellers at a particular point in time and you can predict the future steps by adding some indicators like Stochastics, RSI, moving average etc to ascertain your belief about a trade basis candle stick notification.

That’s about tools -

You could also ride the curve by buying or selling when a breakout or breakdown happens with heavy volume. My sense is 70% work on this strategy now a days.

Try these things and than adopt more versions.

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Weekly Overview on Currencies

 Weekly changes: EURUSD –0.72%, GBPUSD –0.19%, USDCAD +1.33%

The ECB declared some inconsistent steps at its December meeting, leading to fluctuations in the eurozone currency. EURUSD ended on Friday at 1.12357.

The BoE opened the rate race, raising the benchmark from 0.1% to 0.25%. GBPUSD ended the week unchanged at 1.32318 but with ups and downs of 1.5% each way.

The BoC mentioned the likelihood of hiking the rate next month. However, the hawkish statement didn't help the Canadian dollar get stronger. USDCAD rallied to a multi-month high and closed at 1.28900 on Friday.

BULLISH TRIGGERS

USDCAD outperformed all majors by reaching 1.29383, the highest level since August. The previous weakness of the Canadian dollar was due to the rise in number of Omicron cases. This situation implies inflow of funds into safe-haven assets, retreating from the riskier currencies.

BEARISH TRIGGERS

The ECB announced its monetary policy decision by ending tapering towards next March. EURUSD climbed to a monthly high of 1.33742. Later the central bank specified it would hold the low rate and restart the emergency support. EURUSD turned the opposite way and passed the 1.50% drawdown afterwards.

GBPUSD rocketed to the monthly top of 1.3357 upon rating announcement. The next day the British officials released new social restrictions due to the Omicron impact on the economy. GBPUSD fell to 1.32318 and lost all previous gains.

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Gold comment on December 28, 2021

Closing yesterday's session, precious metal Gold can gain 1 day.  The price fell slightly at 1802 then went up again around 1813, closing the daily candle around 1811. With the following high higher than the previous high and the increasing force appearing gradually, in my personal opinion we will be biased.  on the uptrend in this precious metal in early trading today.

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 - Currently, Gold is still facing resistance at around 1813-1815, so it is likely to correct slightly in the beginning of the session.  And if Gold has a correction to 1802-1806 today, we can buy with a safe target of 1813 and expectation of 1817-1820 in today's session.

Today's Market Important News by Money Life Research

 In this week market will be a little more volatile and unstable than usually as we are between Christmas and New Year. 

So during this week, we recommend to risk around 0,7% / 1% / 1,5% beacuse it will be more safe. 

Also, we will send signals only if we find very clear setup, so it is possible, that less signals will be sent. But don’t worry, after New Year we will make up for it 💪 2022 will be our best year in trading and I hope that you will be with us during it 🚀

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XAUUSD Fundamental Overview

 XAUUSD H4

 This morning’s price opened at the 1790.00 level and made a price pullback, early this morning after yesterday’s market created a bearish candlestick on the H4 timeframe.  Yesterday’s rise came to a halt after a candlestick made a price decline at 1800.00

 Since the overall price movement is dominated by the downtrend, it is very likely that the current market reaction will act similarly.  This is seen again, on the rejection that takes place thus creating a rejection candle stick.  Here are the early signs of a decline through chart readings.

 So here is the price of support and resistance that is closest today is at the level:-

 R1: 1794.00

 R2: 1800.00

 R3: 1810.00

 ------------

 S1: 1788.00

 S2: 1782.00

 S3: 1772.00

 Trading is currently encouraged to look at a low timeframe to see the best trading potential to buy or sell.  All these trades need to be done using the amount of "initial capital" that is willing to risk.

 Finally, to see more active movement it is recommended to wait for trading opportunities in the evening.  Have a safe trade.

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Xauusd Overview: Technical and Fundamental Analysis

Yesterday's market price trend was dominated by a price pullback after a strong rise on December 15.  Also included is a decline from the resistance level of 1815.00 currently between the 61.8 and 50.00 levels on the Fibonacci Retracement.

1790.00 market price opened today after market movement made a pullback from the highest price.  Judging from the chart, the decline did not create momentum and stopped at 1790.00 where it was the last support area.

 So here is the price of support and resistance that is closest today is at the level:-

 R1: 1794.00

 R2: 1800.00

 R3: 1810.00

 ------------

 S1: 1788.00

 S2: 1782.00

 S3: 1772.00

 Trading is currently encouraged to look at a low timeframe to see the best trading potential to buy or sell.  All these trades need to be done using the amount of "initial capital" that is willing to risk.

Finally, to see more active movement it is recommended to wait for trading opportunities in the evening.  Have a safe trade.

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Comment on Gold on December 21, 2021

 In yesterday's trading session, precious metal Gold had a day of decline exactly as analyzed when the price fell from 1804 to 1788, closing the daily candle with a bearish candle around 1790. With Gold.  has shown a clear decline when touching the resistance area of ​​1814, in my opinion precious metal Gold will still be under downward pressure in the beginning of today's session.

Switching to the h4 time frame we can see the nearest resistance area pushing down the price of this precious metal around 1794-1798.  Here we can refer to a short signal with target 1785-1781.

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Todays Overview on XAUUSD

 Yesterday’s movement continued until the London session opened today.  An increase of up to $ 57 accumulated from the start of the increase from yesterday.  This puts the current market in a resistance area for horizontal movement.  In the Weekly timeframe for the last week a reversal candlestick has formed and like this week a bullish engulfing is created if today’s market price closes like that.

 At the current price ditimeframe H1 the uptrend still dominates the market price, but the technical aspect sees that the resistance level in the trendline has been reached so far.  Here is a sign that a possible withdrawal may occur.  Especially if the current price creates a reversal of direction

 However, the large gap of the resistance area between 1808.00- 1817.00 makes trading at this point need to be cautious.  Because this is just the beginning

 Therefore, looking from the market history for October and November, the mentioned area was once tracked when the price reached in the horizontal area.  So here is the price of support and resistance that is closest today is at the level:-

 R1: 1782.00

 R2: 1788.00

 R3: 1798.00

 ------------

 S1: 1776.00

 S2: 1770.00

 S3: 1760.00

 Trading is currently encouraged to look at a low timeframe to see the best trading potential to buy or sell.  All these trades need to be done using the amount of "initial capital" that is willing to risk.

 Finally, to see more active movement it is recommended to wait for trading opportunities in the evening.  Have a safe trade.

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Latest Important News on Gold

 📕 Comment on Gold on December 16, 2021

 After a news sweep down around 1752, precious metal Gold bounced back up to 1780. Closing the day session with a bullish push candle, after the Gold sweep regained momentum because  Therefore, it is likely that in the beginning of today's session, the upward force will continue and head to the nearest resistance around 1790.

Switch to the H4 time frame, the nearest support area for this precious metal is around 1768-1774.  Here we can establish a long position in this precious metal with a safe target around 1790.

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Weekly Overview on Currencies

Currencies

MARKET VIEW

Weekly changes: EURUSD +0.07%, GBPUSD +0.33%, USDCAD –0.78%

EURUSD closed the week at 1.13130. The pair hasn't changed since last week, as the forthcoming meetings of the American and the eurozone central banks put the trading activity on hold.

GBPUSD rose to 1.32658 by Friday. The 0.65% intraday growth slowed the pair's second half of 2021's ongoing decline.

USDCAD declined by 1.7% to 1.26025 by Wednesday and made a u-turn to 1.27208 due to the crude oil rally.

BULLISH TRIGGERS

EURUSD awaits the central bank's decisions. The Fed and the ECB have opposing preliminary tones of voices. Due to this, investors anticipate significant volatility upon the final solutions of central banks.

In the meantime, the American CPI report made the U.S.dollar slip against a basket of currencies to 96.05. EURUSD reached its semi-annual low at 1.11824, and the pair might extend its further decline to 1.10.

GBPUSD has declined by more than 6% since June. By Wednesday, it touched the current year's low of 1.31596. The recent developments around the new COVID variants bring uncertainties to the terms of the possible rate hikes by the BoE. The ongoing Brexit dispute also weighs upon the British pound.

BEARISH TRIGGERS

USDCAD declined to 1.26025 by Wednesday, its lowest in three weeks. But later, the BoC had disappointed investors by leaving its key rate unchanged, despite the elevated inflation in the country.

The Canadian dollar pulled back from its strongest level, and the pair had made a 1% rise afterwards. Moreover, oil prices grew as concerns over Omicron fears eased, boosting USCAD dynamics.

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Daily Overview on XAUUSD

The price increase before the market closed last week made today’s price open above 1783.00 earlier this week.  The choppy movement gap dominated the past market price, which raises the question of whether this week the current market will move actively through the downtrend movement or so on.

 On the price increase at the end of last week, looking at the current chart there has been a price pullback early this morning.  The pullback tested the open price level of 1783.00 and created engulfing on the H1 chart.

 The price position is currently at the nearest resistance level where 1786.00, to see if the next market conditions move in line with the price movement earlier this morning.

 The candlestick created on the H4 chart has shown a breakdown indication at the price high for the past Friday.  It is likely that today’s market price will be dominated by an uptrend if in H4 it does not create a new downtrend.

 The nearest support and resistance price areas today are at:-

 R1: 1786.00

 R2: 1792.00

 R3: 1802.00

 ------------

 S1: 1780.00

 S2: 1774.00

 S3: 1764.00

 Trading is currently encouraged to look at a low timeframe to see the best trading potential to buy or sell.  All these trades need to be done using the amount of "initial capital" that is willing to risk.

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 Finally, to see more active movement it is recommended to wait for trading opportunities in the evening.  Have a safe trade.

Comment on Gold on 10/12/2021

World gold had a slight decline yesterday around 1773 when the US released data "The number of applications for unemployment benefits" fell to the lowest level in 52 years.

 - The number of first-time jobless claims in the US increased lower than expected, when there were only 184,000 more applications last week, compared with the initial forecast of 215 thousand.  This number decreased by 43 thousand compared to the previous week, and also the lowest level since September 1969.  Positive data put downward pressure on Gold.  And gold sometimes declines around 1773.

- Gold has moved quite narrowly this week as there are not many important economic data to be released except for tonight's CPI data.  If tonight's CPI data is released above expectations, Gold will be under strong downward pressure. Because the Fed's meeting next week may send a clearer tightening signal.

 - Gold broke the small ascending channel giving bearish pressure.  In this morning's trading session, it is possible that gold will correct slightly to the 1780 zone and then continue to go down.  Take profit target at safe zone 1770-1760.

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Comment on Gold on December 9, 2021

 In yesterday's session after precious metal Gold rose to 1793, the price corrected down to 1779 and rose again to 1786. Closing the day session with a slight bearish candle.  However, this downward force was not too strong, closing the daily candle was still at a high level compared to the previous days.

Moving to the H4 time frame, we can see that Gold is currently supported by MA20 around 1782 and in my personal opinion, this uptrend will be maintained in today's session.  The safe profit-taking target will be the 1794-1800 price range.

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Today's Gold Analysis

 XAUUSD H1

 The duration of yesterday’s movement which only moved in a steady-state formed an uptrend trend after the US session opened last night.

 The language of the chart shows that the price of 1772.00 was tested late last night and the trendline was tested as well as forming a bullish engulfing timeframe M15 and a $ 10 rise until early this morning took place.

 Yet overall the market price is now still dominated by price movements in a downtrend, therefore I attach a potential key level for the price to move today.

 R1: 1788.00

 R2: 1794.00

 R3: 1804.00

 -----------

 S1: 1782.00

 S2: 1776.00

 S3: 1767.00

 Trading is currently encouraged to look at a low timeframe to see the best trading potential to buy or sell.  All these trades need to be done using the amount of "initial capital" that is willing to risk.

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Comment on Gold on December 8, 2021

In yesterday's trading session, precious metal Gold, after falling to 1772, rebounded to 1787 and closed the day with a bullish candle around 1783. After yesterday's decline, yesterday Gold gained again.  Therefore, my personal opinion on precious metal Gold remains unchanged today, still preferring to buy up.

Currently, the precious metal Gold is facing a resistance zone around the 1787 threshold, if in the beginning of today's session, Gold can break out of this price range, it is likely to conquer the 1795-1800 level and I expect  hope that.  We will continue to prioritize the buy option if Gold retests 1776-1779.

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Comment on Gold on December 7, 2021:

 In yesterday's trading session, precious metal Gold did not have too much volatility as Gold fluctuated around the price range of 1777-1784, closing the day with a bearish candle but did not reflect too much, in addition around the 1777 zone is likely that Gold is creating a bottom so it can bounce, so in the beginning of today's session, my opinion will be to prioritize buying.

On the H4 time frame we can see Gold is experiencing price reaction around MA20 so we can buy around this price zone with safe target 1790-1794.

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Gold comment on December 6, 2021:

 With a strong recovery in the last trading hours of last week, precious metal Gold closed the week with a bearish candle.  With precious metal Gold closed the week around 1783, didn't break the strong support zone at 1758-1760, so in the beginning of this week's trading session, I think it's likely that Gold will maintain the upward momentum of the trading sessions.  last week.

Switching to the H4 time frame, we can see quite good buying pressure from the last hours of last week's trading last week and in the beginning of today's session in my opinion around 1778 will be the closest support we can get.  can establish a long position with the safe target around 1790-1794.

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Overview on XAUUSD

  The market yesterday moved actively during the New York session opened making the price fall by $ 38 after the candlestick failed to break the resistance level of 1804.00

 Following yesterday’s decline in gold, from a technical point of view see that the majority of prices are more likely to show a potential downward trend after the price moved horizontally since last week.

 Accordingly, the current price is now seen to be making a shift again where the nearest resistance zone is between 1777-1783.00 during the tokyo session opened.

 Will the market be able to continue the downtrend up to the level of 423.6 on the Fibonacci Retracement for today or will the market move horizontally through the nearest support and resistance levels

 R1: 1777.00

 R2: 1783.00

 R3: 1793.00

 --------------------

 S1: 1771.00

 S2: 1765.00

 S3: 1755.00

 Trading is currently encouraged to look at a low timeframe to see the best trading potential to buy or sell.  All these trades need to be done using the amount of "initial capital" that is willing to risk.

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Comment on Oil on November 30, 2021

 After conquering the highest peak in the last 7 years, oil has reached $84.7 and starting from November 10, 2021, the oil price corrected sharply and once fell to $66.8 in today's session.  If we close this November with a strong bearish candle like now, then in my opinion, the downward trend of the correction will continue in December.

On the D1 daily chart time frame, after recovering slightly around the $72.7 price zone, oil faced downward pressure and dropped to $66.8.  With the current downward force, I expect that the oil price will continue to correct down and the target will be $59-53 in the near future and the selling option will be my opinion to wait for the recovery to recover.  The closest resistance level in the oil price down is around $72-75, which is the ideal area for us to establish a long short position with WTI.

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Gold comment on November 29, 2021

Ending the last trading week precious metal Gold closed the week with a fairly strong bearish candle around the price level of 1787. Although it has entered the strong support zone, Gold shows a very weak recovery so the possibility in  At the beginning of this week's session, Gold only recovered slightly, then it might drop again.

On the H4 chart, this morning Gold had a sweep back to 1776 then bounced up to 1791, this is also the area where the Gold price is accumulating in the last 3 sessions and I expect it in the beginning of the day.  Today Gold may recover a little stronger to around 1800-1803.  It is possible that here the downward pressure will appear and decrease again, then I will have the next update.

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