I am using a specific technical analysis technique which utilizes multiple time periods. it is a kind 9x9 analysis matrix. At the beginning of each time period -i.e, day, week, month, quarter, year - I forecast the bar to be constructed. Forecast determines most probable top and bottom price regions and type of trading that will occur in the coming bar.
For the month December 2015, I have been late to develop the monthly forecast. However, while watching markets at wednesday I observed that multiple price zones matched in many markets and end of trend has been reached. In 2015, the word trend means US dollar rally. So, whatever FED's decision is I don't know but I am expecting Us Dolar to loss some value.
As an example, support values for GBPUSD are given below.
Monthly, support @ 1.4879
Weekly support @ 1.4902
Quarterly support @ 1,4882, 1.4819
Similar support and resistance have been encountered on DXY - US dolar index, EURUSD, etc.
Specially, many people and analysts expect that Gold will deep into 1000$. By the price movements of December 2, possibility of this deep has decreased too much. Why? Because, around 1052 level we have last months low. And, gold was in congestion by Monthly time period. Last month and recent week, gold has tested its weekly and monthly supports and this week's pullback was not enough to refresh the weekly downtrend. As of december 2, 1052 seems to hold and lower time periods such 4H and 1H tells that prices pull back to 1076 and 11xx levels. possibly by the end of Thursday we will get the first reversal sign.
For the month December 2015, I have been late to develop the monthly forecast. However, while watching markets at wednesday I observed that multiple price zones matched in many markets and end of trend has been reached. In 2015, the word trend means US dollar rally. So, whatever FED's decision is I don't know but I am expecting Us Dolar to loss some value.
As an example, support values for GBPUSD are given below.
Monthly, support @ 1.4879
Weekly support @ 1.4902
Quarterly support @ 1,4882, 1.4819
Similar support and resistance have been encountered on DXY - US dolar index, EURUSD, etc.
Specially, many people and analysts expect that Gold will deep into 1000$. By the price movements of December 2, possibility of this deep has decreased too much. Why? Because, around 1052 level we have last months low. And, gold was in congestion by Monthly time period. Last month and recent week, gold has tested its weekly and monthly supports and this week's pullback was not enough to refresh the weekly downtrend. As of december 2, 1052 seems to hold and lower time periods such 4H and 1H tells that prices pull back to 1076 and 11xx levels. possibly by the end of Thursday we will get the first reversal sign.