Dollar Index (DXY) & XAUUSD (Gold) Analysis Forum

Quoting Prasadkadri

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DXY chart {image}

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Quoting Analyticdave

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{quote} Yes, I agree. Possibly, our New York Session will provide a decent move toward 2340.

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Quoting Prasadkadri

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XAUUSD GOLD > XAUUSD 06 Aug 24 5 Min Breakout- Rectangle Pattern Todays Support and ressistance Drawn For Commercial purposes only Gold yet to break to the bottom. https://wa.me/917259693333 {image}

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Quoting Analyticdave

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#FibonacciRetracement: The 61.8% Rule # 1 Fibonacci retracement is a powerful tool in technical analysis, used to identify potential levels of support and resistance in a market trend. #FibonacciRetracement #TechnicalAnalysis

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Quoting Analyticdave

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{quote} # 2 To use a Fibonacci retracement first identify a significant price move (swing high and swing low) on a chart. Then draw the Fibonacci levels from the low to the high (or vice versa) to pinpoint potential reversal points. #PriceMove #ChartAnalysis

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Quoting Analyticdave

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{quote} The key Fibonacci levels to watch are 23.6% 38.2% 50% 61.8% and 100%. These levels represent potential areas where a market trend may reverse or continue. Traders often look for confluence between Fibonacci levels and other technical indicators. #FibonacciLevels #Confluence

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Quoting Analyticdave

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{quote} The 61.8% level, also known as the Golden Ratio, is a key Fibonacci retracement level often indicating a strong trend reversal point. Traders commonly use this level to set profit targets or stop-loss orders. #GoldenRatio #TradingStrategy

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Quoting Analyticdave

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{quote} When a price retraces to the 61.8% level and bounces off it it suggests that the prevailing trend is likely to continue. This level is considered significant because it reflects natural patterns found in nature and financial markets. #TrendReversal #MarketAnalysis

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Quoting Analyticdave

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{quote} The 61.8% Fibonacci retracement level is derived by dividing a number in the Fibonacci sequence by the number that follows it. This ratio is believed to have unique properties that can help traders identify potential turning points in the market. #FibonacciSequence #MarketTrends

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Quoting Analyticdave

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{quote} While the 61.8% level is a popular choice among traders it is important to use it in conjunction with other technical indicators and tools for confirmation. Combining Fibonacci retracement with other analysis methods can enhance the accuracy of your trading decisions. #TechnicalIndicators #TradingTools

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Quoting Analyticdave

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Opinion: Today, ranging is expected—a possible short-term move to 2390 to 2404. But the Bearish trend to below 2324 still stands. We wait.

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Quoting Analyticdave

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Opinion: Today, ranging is expected—a possible short-term move to 2390 to 2404. But the Bearish trend to below 2324 still stands. We wait.

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