Phase Market Forum https://www.phasemrkforum.com/marketanalysis Thu, 02 May 2024 22:43:17 +0000 en-CA hourly 1 https://wordpress.org/?v=6.5.2 https://www.phasemrkforum.com/marketanalysis/wp-content/uploads/2021/11/favicon-32x32-1.png Phase Market Forum https://www.phasemrkforum.com/marketanalysis 32 32 XAUUSD Technical Analysis 3rd May 2024 1h chart https://www.phasemrkforum.com/marketanalysis/2024/05/02/xauusd-technical-analysis-3rd-may-2024-1h-chart/ Thu, 02 May 2024 22:43:17 +0000 https://www.phasemrkforum.com/marketanalysis/?p=4957
– Thursday Daily candle closed Bearish at 2303.400 forming Daily Resistance around 2319.800 and tapping into recent Daily Support formed on Wednesday this week. I’ll be looking for potential Buys above 2309.500 targeting 30min Resistance around 2316.900 and 4h Resistance around 2324.400. I’ll be looking for potential Sells below 2299.500 targeting Hourly Support around 2291.500 and Daily Support around 2285.500. High Impact News ahead of the New York session for the US Dollar which may create high Volatility in the Market.
]]> GBPJPY Technical Analysis 3rd May 2024 1h chart https://www.phasemrkforum.com/marketanalysis/2024/05/02/gbpjpy-technical-analysis-3rd-may-2024-1h-chart/ Thu, 02 May 2024 22:12:04 +0000 https://www.phasemrkforum.com/marketanalysis/?p=4953
– Thursday Daily candle closed small Bearish at 192.510 leaving a Rejection wick to the upside at 195.750. I’ll be looking for potential Buys above 192.800 targeting 30min Resistance at 191.500 and the Hourly Resistance around 194.330. I’ll be looking for potential Sells below 191.900 targeting Daily Support at 191.110 and Weekly Support around 190.400. As Weekly candle coming to a close there is a good probability for the Weekly to close Bearish forming Weekly Resistance but we might see Friday Daily candle closing Bullish forming Daily Support allowing the Weekly candle to close with a wick to potentially get filled for next week.
]]> XAUUSD Technical Analysis 2nd May 2024 1h chart https://www.phasemrkforum.com/marketanalysis/2024/05/01/xauusd-technical-analysis-2nd-may-2024-1h-chart/ Wed, 01 May 2024 22:36:31 +0000 https://www.phasemrkforum.com/marketanalysis/?p=4950
– Wednesday Daily candle closed Bullish at 2319.700 forming Daily Support at 2286 level as price retest a Strong Key Level around 2330s. I’ll be looking for potential Buys above 2325.500 targeting 1h Resistance around 2334.200 and 4h Resistance around 2342.800. I’ll be looking for potential Sells below 2309.500 targeting 1h Support around 2299.200 and 1h Previous Resistance around 2291.200. High Impact New ahead of the New York session for the US Dollar, There is a possibility for price to range on Thursday on the 4h timeframe prior to NFP for Friday.
]]> GBPJPY Technical Analysis 2nd May 2024 1h chart https://www.phasemrkforum.com/marketanalysis/2024/05/01/gbpjpy-technical-analysis-2nd-may-2024-1h-chart/ Wed, 01 May 2024 22:32:06 +0000 https://www.phasemrkforum.com/marketanalysis/?p=4947
– Wednesday Daily candle closed strong Bearish at 193.600 breaking out of the recent Daily range and forming Daily Resistance around 197.130. I’ll be looking for potential Buys above 194.380 targeting previous 4h Support around 195.110 and the previous 1h Support formed around 195.730. I’ll be looking for potential Sells below 193.180 targeting previous 4h Support formed around 192.420, Leaving Runners to 191.700 for a potential Daily Wick Fill. Price overall ranged throughout the session and only broken below within the last Hourly candle before Daily candle closed.
]]> XAUUSD Technical Analysis 1st May 2024 1h chart https://www.phasemrkforum.com/marketanalysis/2024/04/30/xauusd-technical-analysis-1st-may-2024-1h-chart/ Tue, 30 Apr 2024 23:01:52 +0000 https://www.phasemrkforum.com/marketanalysis/?p=4943
– Tuesday Daily candle closed strong Bearish at 2285.800 forming strong Daily Resistance around 2336 level and breaking below recent Daily Support. I’ll be looking for potential Buys above 2296.000 targeting previous Hourly Support around 2305.800 to retest, Leaving Runners to the previous Daily Support formed on Wednesday 24th April this year around 2314.600. I’ll be looking for potential Sells below 2279.200 targeting Strong Hourly Support formed on 3rd April 2024 around 2271.500, Leaving Runners to the previous 4h Support formed on 2nd April 2024 around 2261.500. Extremely High Impact News ahead for the US Dollar at the New York session as major data report to be released throughout the session. We also have Bank Rate review for the US Dollar followed by FOMC Press Conference. High volume to be expected for Gold.
]]> GBPJPY Technical Analysis 1st May 2024 1h chart https://www.phasemrkforum.com/marketanalysis/2024/04/30/gbpjpy-technical-analysis-1st-may-2024-1h-chart/ Tue, 30 Apr 2024 22:39:25 +0000 https://www.phasemrkforum.com/marketanalysis/?p=4940
– Tuesday Daily candle closed small Bullish at 197.120 forming Daily Support at 196.390 and overall price have ranged on the 4h timeframe across the sessions. I’ll be looking for potential Buys above 197.380 targeting 4h Resistance around 198.000, Leaving Runners to 198.500 to potential retest a Key Level. I’ll be looking for potential Sells below 196.530 targeting 4h Support around 195.740 and next 4h Support around 195.100. Despite Daily closing small Bullish the probability for price to continue Bearish is much higher.
]]> XAUUSD Technical Analysis 30th April 2024 1h chart https://www.phasemrkforum.com/marketanalysis/2024/04/29/xauusd-technical-analysis-30th-april-2024-1h-chart/ Mon, 29 Apr 2024 22:44:55 +0000 https://www.phasemrkforum.com/marketanalysis/?p=4936
– Monday Daily candle closed weak Bearish at 2334.500 forming weak Daily Resistance at 2337.700. I’ll be looking for potential Buys above 2343.200 targeting Hourly Resistance around 2349.700 and the previous 4h Support formed on 15th April 2024 around 2357.200. I’ll be looking for potential Sells below 2332.000 targeting Hourly Support around 2324.200 and 4h Support around 2315.500. High Impact News ahead of the New York session open for the US Dollar which may create some volatility within the Monday Daily range.
]]> GBPJPY Technical Analysis 30th April 2024 1h chart https://www.phasemrkforum.com/marketanalysis/2024/04/29/gbpjpy-technical-analysis-30th-april-2024-1h-chart/ Mon, 29 Apr 2024 22:36:08 +0000 https://www.phasemrkforum.com/marketanalysis/?p=4933
– Monday Daily candle closed weak Bearish at 196.380 with a huge Rejection wick to the upside rejecting 200s level. I’ll be looking for potential Buys above 196.690 targeting 30min previous Support formed at 197.720 and a potential retest of 198.250. I’ll be looking for potential Sells below 195.750 targeting Hourly Support around 194.920 and next 4h Support around 194.210. Despite Daily closing weak Bearish there is a higher probability for price to continue bearish.
]]> XAUUSD Technical Analysis 29th April 2024 1h chart https://www.phasemrkforum.com/marketanalysis/2024/04/28/xauusd-technical-analysis-29th-april-2024-1h-chart/ Sun, 28 Apr 2024 22:20:21 +0000 https://www.phasemrkforum.com/marketanalysis/?p=4928
– Previous Weekly candle closed Bearish at 2337.800 forming Weekly Resistance around 2390s level. Friday Daily candle closed weak Bullish with a Rejection to the upside as price continues to range on the 4h timeframe. I’ll be looking for potential Buys above 2341.400 targeting 4h Resistance around 2347.200, Leaving Runners to 2352.600 for a potential Daily Wick Fill. I’ll be looking for potential Sells below 2333.500 targeting 4h Strong Support around 2327.700 and the Hourly Support formed around 2319.200. Based on how the Weekly candle closed Bearish forming no wick to the top there is a good probability for price to continue bearish for the new Weekly candle but ideally is to allow the Asian session to form a new range for the week ahead. There is also a possibility for price to range for the beginning of the week then start to see volume coming into the market leading to Wednesday / Thursday preparing for Friday for NFP and Unemployment Rate.
]]> GBPJPY Technical Analysis 29th April 2024 1h chart https://www.phasemrkforum.com/marketanalysis/2024/04/28/gbpjpy-technical-analysis-29th-april-2024-1h-chart/ Sun, 28 Apr 2024 22:10:55 +0000 https://www.phasemrkforum.com/marketanalysis/?p=4924
– Previous Weekly candle closed extremely Bullish at 197.820 as price tapped into 198 level for the first time in 16 years. Friday Daily candle also closed strong Bullish. I’ll be looking for potential Buys above 198.020 targeting previous Weekly Support formed on 13th April 2008 around 198.800, Leaving Runners to 199.700 to potential retest the Monthly Rejection wick (Bottom) formed in April 2008. I’ll be looking for potential Sells below 197.400 targeting 1h previous Rejection formed around 196.620 and the recent 1h Support formed around 195.980. Despite the previous Weekly and Daily candle showing a good sign of strong Volume for the continuation to the upside it will be important to allow the Asian session to form a new Range for the week ahead.
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