Weekly Market Update: ETHUSD, EURUSD & GOLD, Dec 16th – 22nd, 2024
NOTE: This market newsletter is based on analysis conducted using the daily chart timeframe. Each market discussed is accompanied by a corresponding price chart for clarity and reference.
ETHUSD: Buying On Retracement Lower & After Price Action Signal At Or Above $3447 – $3498 Support Area
Comments: Price had been forming a Bearish Pin Bar + Multiple Inside Bar (Combination Setup) since Saturday, Dec 14th (We are not considering trading this Setup).
Potential Trade Signal: We are looking to buy on a deeper retracement lower and after a price action buy signal at or around the $3447 – $3498 short-term support area.
To Trade This Market With Our Preferred Broker, CLICK HERE
EURUSD: Selling On Retracement Higher & After Price Action Signal At Or Below 1.0610 – 0.0629 Resistance Area
Comments: Price moved lower from the recent Bearish Pin Bar Signal that had formed just below the 1.0610 – 0.0629 short-term resistance area on Friday, Dec 6th (We suggested selling on a retracement higher into the range of this signal in the Dec 9th weekly newsletter and hopefully some traders got on board).
Potential Trade Signal: We are looking to sell on a retracement higher and after a price action sell signal, at or just below the 1.0610 – 0.0629 short-term resistance area.
To Trade This Market With Our Preferred Broker, CLICK HERE
GOLD – SPOT: Buying On Retracement Lower & After Price Action Signal At Or Around $2602 – $2613 Support Area
Comments: Price recently moved significantly lower from the $2708 – $2726 short-term resistance area.
Potential Trade Signal: We are looking to buy on a deeper retracement lower and after a price action buy signal, at or around the $2602 – $2613 short-term support area.
To Trade This Market With Our Preferred Broker, CLICK HERE
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Disclaimer: The risk of loss in trading financial market products, like Cryptocurrencies can be substantial. You should therefore carefully consider whether such trading is suitable for you in light of your financial condition. Any content posted here should not be considered financial or Trading advice, this newsletter is just for information purposes and is just the author’s opinion.
