#GOLD (#XAUUSD): Updated Support & Resistance Analysis 🏅

Here is my latest support and resistance analysis for ⚠️Gold.

Horizontal Structures

Support 1: 3294 - 3312 area
Support 2: 3231 - 3287 area
Support 3: 3121 - 3176 area

Resistance 1: 3338 - 3368 area
Resistance 2: 3441 - 3451 area
Resistance 3: 3493 - 3500 area

Vertical Structures

Vertical Support 1: Falling trend line

Consider these structures for pullback/breakout trading.
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Daily time frame
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#SILVER (#XAGUSD): Buyers Show Strength 🪙

📈Silver is going to rise more, following a strong bullish sentiment this morning.

The price violated a strong falling trend line and an intraday horizontal resistance.
These 2 breakouts indicate a strong buying pressure.

The price may grow more today and reach 37.14 level.
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4H time frame
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#GBPJPY: More Rise Ahead?! 🇬🇧🇯🇵

📈GBPJPY looks determined to rise to a current local high
after a test of key intraday support.

A confirmation bullish pattern that I spotted is a double bottom
on an hourly time frame.

Goal - 198.45
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1H time frame
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Trading Setup #Update

Instrument: #USDCHF
Posting date: 13.05

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DOW JONES INDEX (#US30): Consolidation is Over

📈Dow Jones Index completed a bullish accumulation on a daily.

The price violated a key horizontal resistance cluster and closed above that.

Next goal for bulls is 43790.
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Daily time frame
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#EURCAD: Pullback Trade From Support 🇪🇺🇨🇦

📈EURCAD is going to bounce from a recently broken
key daily horizontal resistance that turned into support after a violation.

The price violated a neckline of a double bottom pattern with
a bullish imbalance candle on an hourly time frame as a confirmation.

Goal - 1.5998
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Daily/1H time frames
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DOLLAR INDEX (#DXY): Critical Moment 💲

With an unprecedented pace of weakness of US Dollar,
⚠️DXY Index is now testing a historic weekly support cluster.

If the market breaks it today and closes below that, it will
open a potential for much more depreciation.

Next historic support will be 95.5 and a downtrend will continue.
Today's US fundamentals can be a trigger.
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Weekly time frame
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Let's see how the markets will react!

#EURCAD reached the goal!🚀

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