Garnet Fx Trade

Possible start of a bearish trend on XAUUSD

The breakout of XAUUSD through the 1966.9900 price line is a breach of an important psychological price that is has tested numerous in the past. If this breakout persists, XAUUSD could test 1962.2220 within the next 5 hours. One should always be cautious before placing a trade, wait for confirmation of the breakout.

USDCAD approaching resistance of a Rising Wedge

USDCAD is heading towards the resistance line of a Rising Wedge and could reach this point within the next 22 hours. It has tested this line numerous times in the past, and this time could be no different from the past, ending in a rebound instead of a breakout. If the breakout doesn’t happen, we […]

Breach of important price line imminent by EURUSD

The price of EURUSD in heading back to the support area. It is possible that it will struggle to break through it and move back in the other direction. The price may eventually break through, but typically the price retreats from the level a number of times before doing so.

XAUUSD Target Level: 1968.1185

Descending Triangle identified at 06-Nov-2023 00:00 UTC. This pattern is still in the process of forming. Possible bearish price movement towards the support 1968.1185 within the next 2 days.

XAUUSD Target Level: 2023.5124

Channel Up identified at 02-Nov-2023 12:00 UTC. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 2023.5124 within the next 2 days.