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My personal FX pairs and XAUUSD analysis

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DominicWalsh

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I am a highly regarded trader, author & coach with over 16 years of experience trading financial markets. Today I am recognized by many as forex trading strategies and indicators developer. I also work with automated trading with top-accuracy Forex Robots and Expert Advisors. After starting blogging in 2014, I became one of the world's most widely followed forex trading coaches, with a monthly readership of more than 40,000 traders.

In this thread, I will share my daily analysis of FX pairs and XAUUSD.

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#1 - February 07, 2023, 01:28:58 PM
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« Last Edit: February 09, 2023, 11:22:05 AM by DominicWalsh »

DominicWalsh

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I spotted a great example of a bullish reversal on 🟢USDJPY.
The pair formed a double bottom formation on a daily time frame
and broke a resistance line of a falling parallel channel.

The underlined blue area is a buy zone based on a broken neckline and a trend line.

The pair will most likely keep growing to 134.4 / 137.63 levels.
#2 - February 07, 2023, 01:58:26 PM
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DominicWalsh

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The price has nicely respected a major rising trend line and the price successfully broke a neckline of an ascending triangle formation on 4H.

I will expect a bullish continuation now.
Targets: 1895 / 1908

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#3 - February 08, 2023, 10:49:44 AM
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DominicWalsh

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CHFJPY has recently broken a key daily supply area.
The broken structure turned into a demand zone.

Approaching that, the price formed a double bottom formation and broke its neckline then.
I opened a long position early in the morning on a retest.

Now a bullish continuation is expected to 142.7 / 143.05
#4 - February 08, 2023, 11:03:20 AM
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DominicWalsh

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USDCAD reached a key supply zone on 4H.
The price formed a double top on that and broke its neckline at night.

I expect a bearish movement to 1.3349 / 1.3295
#5 - February 08, 2023, 11:07:44 AM
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DominicWalsh

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EURCAD was consolidating for 3 weeks in a wide horizontal trading range on a daily.
Its support was finally broken this week.

I believe that the pair may go lower now.
Next support - 1.428
#6 - February 08, 2023, 01:40:27 PM
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DominicWalsh

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USDJPY is testing a key horizontal demand zone on 4H.
The price formed a double bottom pattern on that and broke its neckline then.

I expect a bullish movement to 132.7
#7 - February 09, 2023, 11:20:48 AM
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DominicWalsh

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USDJPY is testing a key horizontal demand zone on 4H.
The price formed a double bottom pattern on that and broke its neckline then.

I expect a bullish movement to 132.7
#8 - February 09, 2023, 11:22:33 AM
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DominicWalsh

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Gold (#XAUUSD): That Was a Breakout 🟡

So it turned out that 🔻Gold broke a major rising trend line yesterday.
The market has successfully closed below that on a daily, engulfing the last 3 bullish candles.

That violation may push the price lower.
Next support: 1833

Bear Flag Pattern
#9 - February 10, 2023, 10:33:50 AM
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DominicWalsh

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#AUDCAD: Bearish Outlook Explained
🔻AUDCAD looks very bearish:
the price has broken 2 rising trend lines on a daily,
formed a double top and broke its neckline as well.
The price is retesting the confluence zone based on the broken structures.
Probabilities are high that the pair will drop soon.
Goals: 0.924 / 0.916

#10 - February 10, 2023, 10:45:35 AM
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DominicWalsh

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EURUSD is moving into a correction phase. The price rests against the conditional support at 1.065 and forms a bearish flag. This pattern shows us the potential to revive the fall further.


The price tests the support zone of 1.07116 in a bearish flag format. A breakdown of the support of the local range may lead to liquidating the buying liquidity and activating the momentum for a strong bearish impulse.


However, I expect in the near term an exit of the price from the range downwards, a breakdown of the support of 1.07116, and price movement towards 1.065, and then to 1.0430
#11 - February 10, 2023, 11:07:22 AM
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« Last Edit: February 12, 2023, 09:42:06 PM by Mikser »

DominicWalsh

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Gold (#XAUUSD): Bearish Outlook For This Week Explained
An important thing happened on 🔻Gold this week.
After a strong bearish movement, the price reached a major rising trend line.
The price was coiling on that since Monday.
On Thursday, it was broken, though.
The price closed below that, forming a bearish engulfing candle.
I believe that the market may keep falling next week.
Next support on focus is 1817 - 1833 area.

#12 - February 13, 2023, 11:44:28 AM
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DominicWalsh

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#GBPNZD: Bearish Move From Key Level
🔻GBPNZD reached an important supply cluster last week.
The price formed a double top pattern on an hourly time frame approaching that.
I expect a bearish continuation to 1.903

#13 - February 13, 2023, 12:08:43 PM
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DominicWalsh

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GBPCAD is taking off from a key horizontal support.
The price has formed a bullish engulfing candle on 4h, approaching that structure.
A double bottom on an hourly time frame was formed.

I expect a pullback to: 1.618 / 1.622
#14 - February 13, 2023, 02:52:40 PM
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« Last Edit: February 14, 2023, 10:45:07 AM by DominicWalsh »

DominicWalsh

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Here is my latest structure analysis for ⚠️NZDUSD.
Resistance 1: 0.6412 - 0.644 area
Resistance 2: 0.6505 - 0.6538 area
Support 1: 0.619 - 0.6226 area
Support 2: 0.6155 - 0.6165 area
Support 3: 0.606 - 0.6095 area
Consider these structures for pullback/breakout trading.

#15 - February 14, 2023, 12:15:33 PM
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