MarcellusLUX

MarcellusLUX

Dear traders,in my previous GBP/JPY ideas, I advised buying at 180.85 level. If you followed those ideas, you made over 400 pips. At present, GBP/JPY rallied strongly during the NY session on Friday. However, the price looks over-stretched from the EMA. So, there is a possibility of a pullback to 183.60 level. If there is the formation of a couple of bearish...

MarcellusLUX Updated 

Hello traders, as per my previous trading plan published on 27 October, we placed our buy order in GBP/JPY@180.85. GBP/JPY went very close to the 100-day EMA level which triggered our buy entry. Keep in mind, if the level holds, you can expect further uptrend. 183.71 would be the first hurdle which if cleared would take GBP/JPY towards 185 and even 187.

MarcellusLUX Updated 

Dear traders, USD/CAD has slowed down after hitting the top of the price channel on the daily chart. If the channel resistance holds, we can expect USD/CAD to gradually fall back to the bottom of the channel. So, selling the rallies in USDCAD@1.3800-1.3840, SL : 1.39 and TP : 1.3570 is a probable sell trade.

MarcellusLUX Updated 

Dear traders, I understand most of you are waiting for an uptrend in EUR/USD. Well, it might be just around the corner. I will give you the technical reasons on why EUR/USD might move upwards. Firstly, notice the pinbar candlestick in the daily chart , which usually leads to trend reversals. Secondly, notice how the price has bounced back from the channel...

MarcellusLUX Updated 

Hello traders, in my last week's EUR/USD update I advised buying when the price was near 1.0550. That buy trade generated nearly 100 pips profit. Currently, EUR/USD looks all set to reach the top of the price channel at 1.0720. That area also happens to the 100-day EMA level on the daily chart. So, it needs to be seen how price reacts if it reaches the 1.0720 level.

MarcellusLUX Updated 

Dear traders, I understand most of you are waiting for an uptrend in EUR/USD. Well, it might have just began I will give you the technical reasons on why EUR/USD might move upwards. Firstly, notice the pinbar candlestick in the daily chart, which usually leads to trend reversals. Secondly, notice how the price has bounced back from the channel support. So, a...

MarcellusLUX Updated 

Hello traders, if you followed my previous ideas on GBP/JPY you already know that we have been buying the dips below 181. We had a couple of buy positions near 180.80 which generated over 160 pips on each trade. Currently, if you look at the daily chart, you can see that the price has rebounded after moving very close to the 100day EMA . With BOJ keeping the...

MarcellusLUX Updated 

Dear traders, the support zone as highlighted in my chart has remained unbroken so far. Not only that, we also have a couple of bullish reversal candlestick patterns including a hammer candlestick that was formed on 26/10/2023. So, a combination of these factors can lead to a further recovery in GBP/USD. Keep in ming that price has already crossed the moving...

MarcellusLUX Updated 

Hello traders, there was another dip in GBP/USD today and the price visited the 1.2090 support zone. However, the dip was rapidly bought and the price has rebounded 60+ pips. So, my strategy is to buy the dips in GBP/USD as long as the support zone stays intact. Target would be at 1.2250 and then 1.24

MarcellusLUX Updated 

Hello traders, AUD/USD has reached the hourly resistance. Thanks to weak USD weakness driven by the data released just now, all the USD pairs have spiked up. However, this could be an opportunity to sell AUD/USD@0.65 zone with targets at 0.6450 and 0.64 level.

MarcellusLUX Updated 

Hello traders, as predicted in my previous idea, GBP/USD has finally breached the 1.23 level. However, the price has reached a moderate resistance zone near 1.2310. Based on the price action, if we see GBP/USD struggling to break this level, then we can consider selling GBP/USD1.2310 with target at 1.2250 and 1.22

MarcellusLUX Updated 

Hello traders, Gold has reached the moderate resistance zone around 2000 level due to weak data from the US which has momentarily weakened the US Dollar. However, price could fall back down pretty soon. If the resistance zone as indicated in my chart holds, then we can consider selling XAUUSD@2001-2005 with targets at 1980 and 1950 respectively

MarcellusLUX Updated 

Hello traders, as expected EUR/USD reached 1.0670 level. Our buys at 1.0525 and 1.0590 ( buy entries were dropped in previous ideas) were closed with 140 and 80 pips profit respectively. However, EUR/USD has struggled again at the familiar resistance level of 1.0670. Although I have not sold EUR/USD , there's a chance that price may fall further towards 1.06. ...

MarcellusLUX Updated 

Dear traders, after the relentless uptrend in Gold, price action shows that Gold may have peaked for now. While the price went above the key 2000 level, there was no sustained move beyond 2000. In fact, Gold has fallen quite rapidly since then. I would say that the zone around 2000 level will act as a resistance for now. Besides, we have 3 consecutive bearish...

MarcellusLUX Updated 

Dear traders, if you remember, we bought GBP/JPY@180.80 level and hit our profit target at 181.70 level, almost 300 Pips. However, as I had already mentioned earlier, GBP/JPY is struggling at the resistance level. We have multiple bearish candlesticks at the 4H resistance level. This opens up the possibility of looking for sell entries. In my opinion sell...

MarcellusLUX Updated 

Dear traders, XAU/USD uptrend is still intact and the price of Gold is being supported by the 100-hour moving average. Every time the Gold touches the 100-hour mav, the price is bouncing up further. So, as long as XAU/USD is above the hourly moving average, you can expect it to rise further. My recommendation would be to buy the dips. However, if price falls...

MarcellusLUX Updated 

Hello traders, EUR/JPY has rallied up to the previous resistance level from where it could fall again. If we can see the formation of a few bearish candlestick in the resistance level, there would be a chance for a fall. Potential sell EUR/JPY@159.92, SL: 160.30, TP: 158.50

MarcellusLUX Updated 

Dear traders, we have the probable formation of a double bottom pattern in the daily chart. In addition, we also have a bullish reversal candlestick in the daily timeframe. A combination of these two factors gives us a reversal bias in GBP/USD. As per my previous trade idea, I have bought GBPUSD@1.2090 with SL below 1.20 and TP at 1.2350 is on my mind.