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The Euro Dollar (EUR/USD) continues to unfold within a corrective structure, and we appear to be nearing the end of a three-wave pattern. The ideal scenario suggests a completion of the ABCD correction around the 1.14 area or potentially lower, near 1.12–1.11.
As long as the recent highs hold, EUR/USD may have further downside potential.
Watch the key resistance zones carefully:
Unless these resistance zones are broken, the bias remains bearish, and deeper retracements are possible.
The Pound Dollar (GBP/USD) is also completing a corrective structure, following three waves up accompanied by a bearish divergence on the MACD.
Currently, price action is hovering around the 100% Fibonacci extension zone near 1.31, a level of high confluence.
However, it’s still premature to call a bottom. The ideal technical setup would include:
Important resistance levels to monitor:
As long as these zones hold, rallies are likely to serve as sell opportunities. Once the divergence forms, we’ll look for potential long setups.
After reaching new all-time highs, Gold (XAU/USD) has entered a strong corrective phase. The RSI on the monthly, weekly, and daily charts all showed extreme overbought readings above 80, indicating the need for a cooldown.
The preferred scenario involves two corrective waves down, possibly with a short-term range or brief upward retracement before another leg lower.
Key resistance (sell) zones include:
As long as Gold remains below these levels, I continue to favor selling rallies toward completing the correction. Later, a bullish divergence may present an excellent long-term buy opportunity.
The Euro Pound (EUR/GBP) is currently testing a critical weekly supply zone. On both weekly and daily charts, we see a clear bearish divergence forming — price is making higher highs while MACD forms lower highs.
The double top has broken, followed by a strong bearish candle and multiple spikes, signaling potential exhaustion.
There are two possible scenarios:
2. Final push up before forming a deeper bearish divergence and then a major retrace or trend reversal
Either way, the bearish divergence across timeframes signals growing weakness, and traders should watch closely for confirmation patterns before entering.
Every forecast above is paired with two scenarios. Why? Because great trading is not about being right — it’s about being ready. Let the market confirm the bias. Use your system, manage risk, and execute only when the structure and confirmation align.
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Vladimir Ribakov
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Home Trader Club
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