Tuesday Outlook - 3/3/2020

Gold:


Friday daily candle took out 7 previous daily candles, but left a sketchy wick to the downside. Yesterdays daily candle finished as a doji candle off of a minor daily demand level, but also wicked off of a weekly supply level. At the moment today's daily candle is bullish, but we have 8 hours left in the day. H4 is pretty choppy and no candle has broken the daily demand zone yet. M15 is consolidating as well, so I will wait until price decides to show me something before looking for an entry.

GBPJPY:

GJ Daily momentum is bearish with the last two daily candles forming a massive engulfing, and a bearish candle with a nice wick left behind. But we are sitting on a weekly demand level, and price on M15 is still within bearish structure. If anything I am looking for more sells on GJ into the 135.30 level where a daily level is sitting. I will need a confirmation on the M15 to enter though.

AUDUSD:


The last 2 daily candles are forming bullish along with todays candle at them moment. However, the daily candle from yesterday did leave a questionable wick to the upside almost hitting a minor daily level. H4 candles are bullish as well trading above the EMA, but price has pulled into the H4 +2 zone as noted from yesterday. M15 is still trending upward as it enters this zone. I will wait for a BOS on M15 before entry.