EURUSD consolidated further one the first trading day but has started to turn bearish as it broke below a minor rising trendline.
According to the current structure, the price may soon break below the current range and fall towards the demand zone just above 1.12, supported by a rising trendline.
Traders can choose to do a short-term sell at the demand zone which...
The gold price was seen support at the range bottom and a rebound has caused the price to break above a falling trendline.
And in that process, the market has also completed 2 waves of retracement from range high to the range low.
However, the market is still mixed due to the FOMC meeting minutes tonight but holding a long position at range bottom could still...
Half of the first trading day has passed and the gold price has been climbing gradually towards the middle of the current range.
The gold is expected to consolidate throughout the first half of this trading week while anticipating for the Fed's decision.
The completion of the current ABCD formation could just determine the top of the day range for today which will...
As the U.S. called a truce with China on the trade war, the dollar has begun to recover together with a technically oversold dollar.
EURUSD since peaking at 1.1410 has retraced close to 10 cents after the 2nd wave of bearish movement has begun early this morning.
Since the US-China trade war has temporary halted and while the market is still anticipating whether...
The gold has broken new high again after close to a month of consolidation.
Those who chased after the trend when the Asia market opened this morning would have found themselves trapped by a sudden pullback lasted till right now.
The dilemma here is whether the price will retrace deeper but one thing for sure is that gold will continue to climb.
The question is...
During Fed Powell's testimony last night, the market was certain that a rate cut will happen this month.
The dollar fell and EURUSD gained steadily after it broke above a falling trendline.
The falling structure has broken and a rising structure just started to form.
Wait for a pullback and look for buy opportunity around 1.126.
The price has bottomed within a 1-year range with multiple signs of reversal.
A bullish bat pattern was formed while the price has broken above an immediate falling trendline.
Besides, the current price could also be the beginning of the 2nd shoulder of an inverse head and shoulder.
Aside from the technical aspect, the pound is simply undervalued for a long time...
After forming 4 consecutive days of bullish candles, EURUSD was resisted at the top of a rising channel as it completed an AB=CD pattern.
Just as I shared in my weekly forecast for this week, the upside for EURUSD is already limited.
The price has fallen and yesterday, forming a bearish engulfing, showing that the price may continue to fall and pull back...
EURUSD fell into consolidation after the most recent bullish run.
The price has pulled back once and the rebound followed was not strong which may lead to another wave of pullback.
From the current structure, we are most likely going to expect the 2nd wave of pullback (probable AB=CD).
We will wait for the pullback and look for buy opportunity at 1.126.
EURUSD gapped down, covered the gap and continue to retrace lower.
The break above of 1.13 has already shown that price is most likely to climb further.
Taking reference from the previous wave of retracement before the breakout, the price will retrace just below 1.13 and reach the 618 level.
Wait for the price to retrace further to buy EURUSD between 1.128 and...
The gold has gained tremendously since last Friday and continue so for the first 2 trading days this week.
The fell into a consolidation after a strong pullback since it reached the highest at 1344, a strong supply zone in the weekly chart.
At the same time, the dollar also showed strong support at 97 and further pullback is expected which will cause the gold to...
AUDUSD has completed 2 waves of retracement which formed an AB=CD pattern.
It was completed within a supply zone defined by a previous low turned resistance.
RBA is expected to cut rate but AUDUSD has climbed for the 3rd consecutive week.
Besides, an inside bar break down has just happened in the H4 chart and the price has retraced back into the inside bar.
EURUSD has climbed for the 2nd consecutive days and is about to approach its previous high at 1.1215.
Based on the previous wave of rising trend, the price is expected to climb beyond 1.1215 and test the supply zone just above 1.1220.
As of now, the price might experience a short period of consolidation between 1.1190 and 1.1160.
It would not be a good price to...
The gold has retraced through the week after the 1st bullish trend has completed from 1273 to 1287.
The retracement has formed an AB=CD pattern and the price is slowly breaking away from the bearish structure as seen in H1 chart.
The candle bodies have shrunk as it fell towards point D of ABCD pattern which is a sign of weakening sellers.
It is a good time to...
Continuing from my previous post on EURUSD, the price is already in the midst of completing the 2nd wave of retracement.
The price is most likely to rebound off around 1.1170 just above the illustrated seller trap zone.
The day ended with the 1st wave of retracement completed.
The consolidation before the 2nd wave of retracement has just begun and will take a while more until the Euro session later.
The price is most likely to retrace towards the 1.1170 - 1.1160 region just right above the breakout point of the previous falling trendline.
Since the first breakout of the 3-Month falling trendline, the gold fell all the way close to the previous low and found support at 1273.2.
The price consolidated for about 2 trading days and yesterday it finally jumped and broke above the falling trendline for the second time.
This is also fundamentally caused by falling stock prices and weakening of the dollar...
USDCHF has retested a supply zone at 1.0120 and is considered successful as it had fallen and broken new low.
The price is currently in the process of retracement with the 1st wave completed and the 2nd wave in the midst of completion.
Wait for the 2nd wave of retracement to be completed around 1.0108, setting the stop loss just above the previous high or above 1.0120.