 Okay, hi everyone. Welcome to this week's live trading session. I'm just going to give about two more minutes to let more people join the session and can see a bunch of you guys still coming in. Hi, good afternoon. Yeah, so I'm just going to give about maybe one to two moments to let more of you guys join before we get started. In the meantime, let me know if you guys can hear me and see me. And my screen as well. Just let me know in the chat. Grab yourself to drink make yourself comfortable. And I will see you guys in about two more minutes. Thanks everyone. Okay, let's go ahead and get started so. For you guys have just joined. Thank you guys so much for coming today. Let's get started so feel free to pop into the chat if you guys have any requests for any charts that you guys would like me to go through. And yeah, let's get started. So I'm Melanie and I'll be a speaker for today. I'm an investment analyst for Rocket who are finalists for best effects and equity research in the years 2019 to 2021. Okay. Okay, so let me pull up my charts. Hi Sean. I'm good. How are you? Feel free to let me know. If you guys have any requests. In the meantime, I think I'm going to start off with a few of the majors, while you guys pop your request into the chat. Okay. Okay, let's start off with a euro USD. Can you guys see my charts. Okay, so I'm going to start off by looking at the higher time frames first, so that we get an idea of where the general direction of prices are headed towards. So we see here we kind of have we see that prices are moving in this uptrend. And then we want to see if we have any trend lines or trend channels. And over here we see that we do have a ascending trend channel. Okay. So next, we'll zoom down into our daily timeframe. Okay, we can see it's also moving in this uptrend. Let's see if we have any trend lines or trend channels. So what makes a valid trend channel just to recap really quickly is if there are at least two touches at the top and two touches at the bottom. So indicate in this case, you see that we don't have two touches at the top, although we have two touches below. So this is not a valid trend channel. But we can see that prices are moving in an uptrend. Let's see if we have a trend line perhaps. Okay. Okay, so let's just get right into adding our support and resistance levels. So my first support will be over here. Okay, and then my second support below here. Okay, and then my first resistance, I'm just going to place it over here at this overlap level and my second resistance over here. Okay, so this is the first step is purely graphical we're just purely looking at any swing highs or swing lows. So the next step is to look for Fibonacci levels to support those levels. So I'm going to start off with a retracement. For retracement we use these. We use these five levels here 23.6 38.2 50% 61.8 and 78.6. Okay, so we can see that my 50% lines up nicely with my first resistance. Okay. Okay, I'm going to include an intermediate level of resistance over here as well at this swing high and also at this 38.2. Okay. Yeah, just to take note of that level. Okay, so we have, I'm just going to keep the 38 and the 50%. I'm going to go in with a projection. So for projections we use 61.8 and 78.6 and 100%. Okay, so this 61.8 is actually a pretty significant level because you can see we have two Fibonacci levels and I mining up there. Okay, so I'm going to place it here instead. And I'm going to highlight this level. Okay, since it's a confluence area. Okay. Let's see. Okay, let's take a look at this on our four hour timeframe as well. Okay, so on our daily timeframe we are expecting prices to move up continue in this uptrend. And we've just highlighted this intermediate resistance. Just see if price is going to break out of there to hit towards our first resistance and subsequently on second resistance. Yeah, so let's take a look at our which platform. This is trading view.com. So the tools that I'm using this. The first one is this retracement, the Fib retracement. And then for the other one with the three points that is the Fibonacci extension. It's the same symbol on MC4 as well. Okay, let's zoom into our four hour timeframe. Okay, now on our four time frame it doesn't look like there is a specific trend it looks like prices are kind of on ranging. Okay, so let's go in with our support and resistance levels. So first resist first support. When placed over here, and you want to try and pull it back as far as you can without cutting too many bodies of candlesticks. So this shows you how significant that level is based on how many times price has reacted off of it. So I'm going to label this as an intermediate level again, because it's really close to where price is currently at. Okay. And my first resistance will be at the same high. Let me. Okay, so same thing we're going to use our Fibonacci levels to support. So we have firstly a retracement. I'm looking for. Okay, so I can see the 30.2 lines up with my intermediate resistance and my 50% also lines up with my first resistance. Okay, I might actually add a second resistance at this level as well, just for reference. Okay, next, I'm going to add some Fibonacci levels. Here we have what we call a Nike tick or Fibonacci extension. So for Fibonacci extension, we're looking for Nike tick shape and I'll show you guys in a bit. But we're also looking at the levels that are above 100%, which is nearly 127.2 and 161.8. So you can see my 161.8 lines up nicely with my intermediate level as well. I'm just going to keep that. Okay, so let me just draw out the Nike tick for you guys. So this is the kind of shape that we're looking for. Okay, this is uptrend for the euro against the dollar mean of further uptrend or gold. So there is a bit of a correlation between gold and euro. I'll show, I'll maybe compare after I'm done with analyzing this, we can compare what gold looks like and then after that analyze gold together. Okay, I'm going to highlight this intermediate level as well since price is currently approaching that level. And also because we have a 38.2 that lines up with a 161.8. So we have quite a few Fibonacci levels lining up, which makes it a confluence area. Okay, if we zoom in, we might be able to see another shape. Okay, no. Okay, I think that's all the levels we have for your dollar. Now let's get into our indicators. So starting off with Ichimoku and Maggie, because at one glance you can see exactly what the signals are for these two indicators. So now Ichimoku is giving us a bullish signal since price is moving above the cloud. Maggie, you can see it's also giving us a bullish signal. So here's our analysis that price is going to move upwards. Let's take a look at another indicator to be sure. Okay, RSI, let's see if price is moving in an ascending trend line. Okay, it is. Okay, you can see price is moving in this ascending trend line on our RSI. So now to answer the question, let's add another, let's just compare gold. So in Trading View, if you click on this plus sign, you can actually compare another currency. So now I'm going to compare gold. Okay, and you can see that there is a slight similarity between or correlation between gold and euro just looking from the shape of the chart. Another website that you can use since we're talking about correlation is, let me show you guys my FX book. Okay, so you can actually compare the currencies with, can you see my screen? Yes, okay. So you can compare the currencies or whichever that you are looking at over here, you can adjust your time frame as well. So since I'm looking at the four hours time frame, you typically want to look for currencies with correlation above and below 80%. And minus 80%. This is 80%. This is minus 80%. Okay, so this is how you find the different currencies that are correlated either positively or negatively. Maybe I'll just pop the website in the chat as well. Okay, I'm not too sure if this includes gold. I don't think so. But yeah, another, if you're looking at comparing indices or commodities, you can just click on this plus sign on Trading View. Okay, you can see the pretty similar shape and price, but not entirely similar. Okay, I hope that answers your question. Since we're talking about gold, let's go ahead and analyze gold as well now. Okay, so let's look at gold on the weekly time frame. You can see prices are definitely moving in this uptrend. So let's see if we have any trend channels and we don't have two touches at the top and two touches below. Now on our daily time frame, on our daily time frame, we don't have any trend lines or trend channels, but we can all agree that it is moving and then uptrend. Okay. Okay, so I'm going to start off by adding a Fibonacci extension over here, which is the Nike tick that I mentioned earlier. Okay, simply because I don't have any other recent higher levels to compare and to add my resistance levels to. So here's my Nike tick in case you can't see it. Okay, and we can see that my web price is at currently at that level. It's in line with the 127.2. Okay, so we're going to see if price is going to be able to break out of that area or if it's going to reverse all of it. So I'm just going to label it as our pivot for the time being. Okay, and of course my first resistance will just be at our 161.8. For our support, I'm just going to put it maybe here. Okay. This swing high support. Okay, and this is my second support. Okay, so this is for our daily time frame. Now let's take a look at our four hours time frame. So over here we are wondering if price is going to be able to break out of this pivot area that I highlighted. So if we look at our four-hour time frame, can you guys hear me? Okay. Michael, I think there's something wrong with your audio because it seems like everything is good on my side. Okay, thanks everyone. What was I saying? Oh yes. Yes, so we can see it is on an uptrend. Now I'm going to add some support and resistance levels again. So my first resistance, well actually my pivot level, same place as where I placed it for our daily time frame. Just over here because it's where price is currently at. So we're wondering if price is going to be able to push past it. Okay. My first support level at this double swing high. And same thing I'm going to go in with our Nike take over here. And my first resistance, I'm just going to play safe here. So again, if you can't see what the Nike take looks like, it's just like this, but you want to make sure that price actually cuts past the 100% level before you use this technique. Okay, now going in with some projections. Okay, we have a retracement from here. So again, our retracement news, these five levels. Okay, so even though. Okay, so I can see my 78.6 lines up nicely with my first resistance on. My 61.8 is exactly where this pivot level is at. So let me just highlight this since it's a constant area. And even though this 50% lines up with my first support we can't use it because prices are really broken out of it. Okay, so I'm going to remove the rest and just keep on 61 and 78. So let's see if Christ is likely to break this resistance area at the pivot. So on our weekly and daily time, basically time frame actually we have a kind of strong upward pressure with the ascending train channel. Okay, but on our daily and time frame we see this resistance level here. Okay, on our each local you can see prices moving above the cloud, like these also giving us a bullish signal. Now if we look at RSI, it's definitely in the overbought section now, which might suggest price is going to drop. Okay, let's look at some other indicators. Okay, you can see Bollinger bands prices way above the upper band, which is giving us a bullish signal. Okay, but Stochastic is also moving in this bullish signal here. Okay, so I'm going to get rid of our RSI since it's. Okay, wait, let me get rid of these two and Okay, RSI and Stochastic. Stochastic is giving us a bullish signal. Okay, with this ascending trend line. Whereas our RSI is kind of giving us a signal that it's overbought. Maybe let's take a look at MA Cross as well. So MA Cross basically if price crosses over each other, it's a sign that price is likely going to change direction. We still see price moving above both of the moving averages, so it's giving us a pretty strong bullish signal. So out of all the indicators that I've used, only one, which is the RSI is giving us a bearish signal. So I'm going to get rid of that. Okay, so price is likely to continue in this uptrend. I think we might see a bit of reversal here, but not so much until it reaches our first support. It's likely to reverse a little bit and hit back up towards our first resistance based on all of the indicators that we've seen giving it this upward momentum. Okay, especially since our weekly timeframe is also moving in an ascending trend channel. Okay, next. Okay, let's take a look at pound dollar now. Okay, so on our weekly timeframe. Okay, let's go back to our gold. Okay, so these support and resistance levels are basically going to be your entry and your exits. So over here, we're going to see if price is going to break above this level, right? As I mentioned previously, we might see a bit of reversal over here, but with all of the upward pressure, it's likely to push past the pivot and hit towards our first resistance instead. So in this case, your first resistance would be your take profit. And if it manages to push past the pivot, that would be your entry level. Okay, I hope that answers your question. Entry at the pivot and then take profit towards your first resistance. Okay, let's look at pound dollar. Okay, so on our weekly timeframe again, prices are kind of ranging. It does look like it's moving in this uptrend here. Again, we have a ascending trend channel on our weekly timeframe. Okay, with two touches above, two touches below. So next on our daily timeframe, we have price moving in this ascending trend line as well. Okay, so here's my first support, my first resistance here. Okay, I'll go back to my gold after we're done with this one. And my second support will be below here. Okay, so same thing, we're going to pull out our Fibonacci levels to support these support and resistance levels. Okay, none of us here. Okay, my 38.2 lines up with our first support, 61.8 as well. Okay, here we have a 100% projection that lines up with our first resistance. So we're expecting price to continue in this trend line towards our first resistance since it's in line with multiple swing highs and also this 100% Fibonacci projection. Next four hours timeframe, there isn't a clear direction of where prices tank towards. Yep, when I say projection, I mean this icon here. So even though it's called Fib extension, we like to call it a projection, which is a little bit confusing, I know, but because we are projecting where prices are headed towards. So the kind of shape that you're looking for is like a lightning bolt shape. Or something like this, or like this. So you're projecting where it's going to go next. And also because our 90 tech, like I mentioned previously is called, we call that our extension. Yeah, it is a bit confusing. So also, maybe if you're new to Fibonacci, we do have a really comprehensive guide on how to draw Fibonacci techniques. So all of the techniques that I'm mentioning here, we do go in depth in our website here. That's the first army.com. So you can go to this website and take a look at how to draw retracements, extensions, projections, what to look out for all of that. So like I was mentioning earlier, yeah, it's free. I'll just pop the link in the chat. Okay, so I won't go in depth now. But I will briefly talk about what shapes to look out for and things like that. So like I mentioned earlier, we have this 90 tech shape here as well. Okay, so I'm going to place my levels first. So my first resistance over here. Okay, and I'm going to use my Nike take. So my Fibonacci extension and look at the 127 and 161 and you can see my 127 lines up nicely with our first resistance. You can see purse reactor off of that nicely. Okay, I'm going to place my second resistance here as well. Okay, next I'm looking for a retracement. So for retracements, we use five levels again. Okay, and my 23.6. I'm actually going to add a level there. Because we have a swing high lined up with another swing high here. And also in line with our 23.6 level. Okay, this will be my intermediate support. Okay, and my 30, 50% also lines up with our first support. So just keep the 23 and 50. Okay, now let's look at some indicators. Same thing. I'm going to look at these two indicators first. So price is moving above the each more crowd. So it's giving us a bullish signal. And these also giving us a bullish signal. Okay, so we are expecting price to hit towards this class resistance. So I'm going to place my second resistance here. Okay, so price is moving above both of our moving averages. So it was also giving us a bullish signal. Okay, so we are expecting price to hit towards this class resistance. So I'm going to place my second resistance here. So price to hit towards this class resistance. If you want to know the entry, it would be over here. Maybe I'll make it bigger. So at the 1.26697 and your first resistance would be over here. Okay, at the 1.26999. Okay, let me go back to our goal. So I'm going to use other levels for anyone who is asking. Someone requested for NASDAQ. Here. That's the dotted line to our first resistance. This is on our four hour time frame. So it depends on which time frame they're using as well. That's why we analyze both the daily as well as the four hour time frames for you guys. For the NASDAQ, are you looking at the NQ or the NDX? The futures or the index? Okay, let's look at it. Okay, so on our weekly time frame, you can see prices hit it upwards. Okay, yeah, there's not much to analyze on a weekly time frame. So let's look at daily. Daily we can see there is this ascending. Okay, let's see if we have a Fibonacci extension here. Oh, did you want the NAS100 instead? This one? Okay. So on a weekly time frame, let's see if we have anything to analyze here. Okay, I don't think so. Let's look at our daily time frame. So I mentioned earlier that we are looking for a Nike Tic, right, when we don't have any supporting levels. So here, this is what the Nike Tic looks like. And I'm looking for a 161.8, which is over here. Okay, this is my first resistance. So I probably buy to that level first. Because price has already broken off this 127.2, so it's no longer valid. If we look for another Nike Tic here. Okay, you can see price is currently testing that level over here. Okay, I'm going to clean it up so it's clearer. And over here, we are looking at 161.8 as well. Okay, so this is our intermediate resistance or your entry since price is currently at that level towards our first resistance. Okay, if you're wondering if price is going to break out of this intermediate resistance since we have the 161.8. The upward pressure shows us that it likely will. Okay, it's also moving in an ascending trend line. Okay, so it likely will break out and continue in this ascending trend line. But with anything you do have to read up on the fundamentals as well. I don't know enough about this to tell you guys whether it's going to continue in this uptrend within this week or not. Okay, but if we look at it from just a technical point of view, it does look like it would slightly to move upwards. Okay. Yeah, you can see on our eGMO Go price is moving steadily above the eGMO Go cloud. So it's our MACD giving us a bullish signal. If you look at Bollinger bands, it's also peaking above the upper band, which is a very strong bullish sign as well. So yeah, all of those indicators give us just support our analysis that it's going to continue upwards. Okay, let's look at DXY. So on our weekly time frame. Okay, that isn't a clear trend. It's kind of ranging again. So on our daily time frame. Let's add our support and resistance levels. This is my first support. And this is my first resistance up here. And my first, my second support here. You can see that my 23.6 lines up with my first support. And so does my 50%. Okay, 23 and 50%. Again, I actually have in IG Tech here as well. So I'm going to look at this level here. This is in line with my 127.2. Okay, so actually these levels don't have to line up exactly because we're looking for areas, consulates areas more so than actual specific levels. Okay. Okay, I'm going to go in with our last retracement here. You can see my 61.8 also lines up here. And my 50%. Okay, no, 50% is no longer valid because price is already broken out of it. I'm going to keep low 61. Okay, now let's look at some indicators. Ichimoku, MacD, price is moving above the Ichimoku Cloud. So it's giving us a bullish signal. But you can see our MacD here is giving us a bearish signal. And Bollinger bands aren't really telling us much. Let's look at RSI and Stochastic. Okay, so on our Stochastic, we have what is called a hidden support level here. So price has made a lower low. Okay, but on our Stochastic, it's at a support level. So this is a sign that price might continue to move upwards. Okay. RSI isn't telling us much, so I'm going to get rid of that. Let's look at our MAs. Price is moving above both the MAs over here. So it's still giving us a bullish signal as well. Okay, so we might be seeing a buy from our first support towards our first resistance, especially since our first resistance is a confidence area, which means that price is likely to be attracted to that area. We're looking at the MA cross 50 and 200. So basically how that works is we're basically looking for any crossovers. So when you see this blue cross, it means that there's going to be a change in trend. So you can see recently price was moving in the downtrend. Now it's coming upwards and then cross price or rather the MAs recently crossed, which suggests that it's likely to continue in an uptrend now. Also, yes, price is also moving above both of the MAs, so it also is giving us a bullish signal. Yeah. Okay, there was a question on Euro-USG, but I think we went through that earlier. So I'll just show you the analysis. This is for daily. No, okay, I think it was on a daily timeframe. So I think that's all the time that we have for today. Yeah, let me know if you guys have any other questions. If not, thank you guys so much for joining me today. I hope you guys found this helpful and I'll see you guys next week. Have a great rest of your week everyone. Bye. BXY. Thanks everyone. So again, if you're comparing two different charts, you can click on this and search for GDP-USD and then you can see. So prices are pretty similar. Okay. Okay, but in this case, they are definitely negatively correlated. So what was the question? Good proof as confluence for pound dollar. I'm actually not too sure. Okay, let's look at our pound dollar now. I guess since they are negatively correlated, if price is going to continue to rise, we can expect the opposite for pound dollar. But let's take a look. Yeah, we might see a bearish pound since we are expecting. Yeah, so if they are negatively correlated, they could be a bullish bias on the XY. Yeah. So there could be a bearish signal over here on our pound dollar. But just to be sure, I would prefer to analyze the pound dollar as well as the DXY separately as well, just to make sure. Thanks everyone. See you guys next week. Bye.