Normally If there is not much of a setup, I like looking into other commodities instrument just for fun. Here is the infamous gold. Not really forecasting but may happen according to the law of nature in Price. IT is a monthly charts and where possibility gold might be headed.
Definitely over the long term it is bearish. May be something you can plan in the coming months. I would be ready heading to the bank buying gold once it reaches that demand below there.
The possibilities are once that hit demand, it may go towards the supply easily as the smaller supply has been eliminated for the past few weeks and months. A very clear least past resistant. Don’t take my word for it, This trade can possibly fail if there are just plentyful sellers or supplies.
Hence a good money management can reward us here or minimize our losses. Gold move tend to be big, it can reward you handsomely if played well.
Lets look at the EURUSD .
I miss to enter those trade as i was not available to see the chart. I just only got back from work and it already had happen. A nice small demand formed after London open. That could have been a good 1:2 RR.
SO it seems EURUSD is consolidating but pressured for a bull move by the looks of it. There is just a large empty space up there for it to go up. If you all had detected this, congrats on taking those trade. You never know it may rocket it self up there.
Most probably this week any fresh demand would be good to take. UNless other wise it decided to continue bearish.