Precious Metals (Gold)
Gold remains bullish on the higher timeframes (weekly/daily), but has been consolidating since late April. On lower timeframes, traders should apply a buy-low/sell-high strategy.
A sell-off was triggered during Thursday’s unusual NFP release (instead of Friday), but overall structure still favors upside after some retracement.
On the 4H and 1H, price is expected to revisit an order block near the trendline before continuing upward. A long opportunity may arise once price bounces from that level.
On the 15M, traders are watching the 78% Fib level for a sell reaction, followed by another bounce from a lower support zone near a flip area or fair value gap for possible longs.
Yen Basket & JPY Pairs
The Yen basket is expected to reverse bullishly (sell-to-buy), with liquidity grabs below recent lows likely before any sustained rally.
GBP/JPY remains bullish on the daily, with price respecting trendlines and order blocks. A small retracement is anticipated, but upside targets remain valid.
AUD/JPY recently broke out of consolidation. A short pullback to the 61% Fib level is expected before a fresh bullish leg. Entry signals will be watched on the 15M timeframe.
DXY (Dollar Index), GBP/USD, EUR/USD
DXY (Dollar Index) is showing bearish momentum across the board. Price is expected to retrace into key resistance zones (97.982 on 1H) before continuing downward.
GBP/USD shows a short-term sell-to-buy setup. Price is expected to sell from 1.37368 (box pattern) down to 1.35348, then resume bullish trend from that level.
EUR/USD is also a sell-to-buy setup. The team is watching for retracement into either 1.16028 (4H OB) or 1.15179 (left shoulder) to take long positions. Interim short entries may appear.
Extras:
- Community encouraged to join the Telegram group for markups and updates.
- Upcoming Traders Bootcamp in Abuja is scheduled for 2nd August 2025. Contact info shared for registration.