FOMC meeting passed with little volatility as it came out very much expected which also reaffirms that the Fed will hold back from further rate cut for now.
On the other hand, ECB is comparatively more dovish than the Fed where ECB is ready to go further negative in their interest rate.
EURUSD has formed a double top previously and the price has broken through the...
Despite Friday's big gap with a low closing probability, the Price Action showed us exactly the opposite. The support zone at 13 166 that we've highlighted many times served as the strong barrier and the price bounced off to close the day near it's Friday opening. Our zones remain valid.
Resistance: 13 297
Support: 13 207, 13 166
Price has just finished it retracement on the D TF! We see lots of divergence on smaller TF entry is soon!
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Good morning ladies and gents, LYB is showing Daily MacD Bearish Divergence at a critical area of resistance inside of two converging trend lines. It is a Rising wedge, although the best wedges are the ones with at least 5 touch points. Either way, it's still a range between two converging trend lines.
Entry Target for the Short is at $96-$96.50
Exit Targets are...
Good evening ladies and gents, this is a risky position to take as earnings are coming in 5 days. Despite earnings which I am personally not taking a position in this because of that reason alone, we are showing triple MacD Bullish Convergence as well as Triple RSI Bullish Convergence on the daily time scale. This asset has an overall good up trend, but bear...
The gold is very likely to have completed a 3rd bearish wave and opportunity to buy the gold again will soon present itself.
Buy Entry Price Range: 1456 - 1453
Take Profit Levels: 1473, 1483, 1492
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Long OANDA:CN50USD, Like I mentioned in my previous posts, price has formed a higher high and is on its way to test the support levels, as per the trend line. Price hit the support line and closed higher!
Look at the RSI. key is to look at price making higher moves and change in RSI back upwards after finding support in the Green zone (in the center)
IF the RSI...
If you wish to enter in this trade, enter with some conditions
TODAY's daily close should close at or above 8765 the big fat green line on the chart
IF we fail to close 8765 then consider this setup invalidated
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Do follow all channels as I have separate long & short as well as TA...
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Do follow all channels as I have separate long & short as well as TA channel where I do most of the ranting :P
remember I am not a financial advisor & this are all just my thoughts :)
EURUSD has turned bearish and fell for 4 consecutive days since it got resisted at the top of a 17-month falling channel.
As we approach the end of the trading week, we need to exercise cautious particularly in the price.
Many might want to chase after the bear after multiple news lows were created.
I'm not sure if the price will just continue to fall from the...
Gold has been trading within a range since early October.
While it ranged, the price was also seen breaking above a major falling channel, not just once but twice.
We've seen multiple rebounds whenever the price retraces to the range bottom and given such background, buying would be a better choice than selling.
Besides, US30 has recently broken new high and still...
Price closed above what was resistance & now is support, trying to retest at the 0.68794 but failed. But also closing above the 0.68794 Which is now support with the bulls to over ride with a continuation to the upside. Even looking at previous support (green box) that there was a chance for another push to the upside. With the Fed rate cuts to 1.75% allowing the...
During the FOMC conference, the dollar was seen climbing steadily but took a sudden twist which led to an unstoppable bearish force.
It was quite an unexpected turn of event as it has been quite clear that the Fed is unlikely to cut rate any further this year and that should boost the dollar.
It soon turned out that EURUSD, as well as gold, turned bullish, even...
Risk has been coming off for the past few weeks as the US-China trade war cooled down and Brexit is getting closer to a real Brexit.
The gold has tumbled its way from a previous high near 1520 since last Friday and through the current week.
While we expect gold to fall further, the 1480 region will still provide some significant support which is likely to be the...
EURUSD climbed through the first half of Monday as an act of retracement.
The price is now seen resisted at the top of a falling channel, as well as the bottom of a previously broken rising channel.
As explained in my previous weekly forecast for EURUSD, the price is most likely to extend fall.
Therefore, the extensive retracement right now gives a good price to...
EURUSD, as explained in my previous post on 14th Oct, has continued to climb and reach the top of a 3-Month falling channel.
Since then, the price found resistance and moved sideways and at the same time, it broke below a rising trendline which signifies for a probable reversal.
Yesterday after Draghi's final speech, EURUSD came down steadily and reached...
Hello Traders, welcome to the Daily Forex technical analysis. Today is October 24th, 2019 and we will be taking a look at the British Pound against the New Zealand Dollar. Looking at the 1 hour time frame we are looking for price action to hold above the trend line acting as support the 2.016 region. If we can continue with a bullish follow through and stay above...
USDJPY started to turn bearish since last week as it broke below the bottom of a rising channel.
This week, the price has been seen constantly resisted at 108.7, causing multiple failed attempts to climb any higher.
Therefore, the structured can be confirmed as bearish and traders can look to sell around the current price.
USDJPY should present a stronger bearish...