USDCHF has stubbornly climbed for the past 3 consecutive days.
Yesterday has however shown that price has met with strong resistance within the supply zone.
It is important to note that the price is considered to be very high as it is getting very close to a 27-month supply zone.
It is also obvious that the buying strength is not particularly strong as compared to...
USDCHF diverges from the dollar during the euro session and continues to climb within a rising wedge when the dollar starts to fall again.
If we compare both dollar and USDCHF in the D1 chart, we will see that both are trading within an ascending triangle and that sellers are more in control then the buyers.
The dollar has already started to fall while USDCHF is...
After the dollar has climbed for the past 3 weeks, the price has started to drop from a high since the beginning of this trading week.
EURUSD has managed to close above a 1-week range yesterday and that signals for the price to climb further with the dollar starting to drop.
Therefore, we can look for intraday buying opportunity should the price pulls back, which...
Rise and shine, and the gold climb and break above the range.
In that process, an inside bar was formed in the H1 chart and then broken upwards.
It seems that the gold has chosen to run one more wave of bulls.
Wait for the price to pull back to 1293 - 1290 to look for a buying opportunity.
Gold has ranged above the low of 1283 for the past 4 trading days.
And last night, there was an attempt to break below the range which it did so base on the smaller timeframe from H4 onwards.
The price made a strong pullback but it still failed to stand above the range or make a higher high.
Thus in this case and with the head n shoulder formation, the price,...
As the dollar reaches beyond 97, it is technically entering an overbought zone and may be vulnerable to selling pressure.
So the USDJPY has climbed pretty much through the Asia session and stands above 111.
A bat pattern is on its way to completion where the final point is expected to end in the supply zone around 111.50.
Therefore, if the dollar continues to...
The price consolidates for the 3rd day as the price continues to retrace.
There hasn't been any significant selling and the price has yet to reach any strong supply zone.
Therefore, the price is expected to retrace further and climb towards the supply zone near 1.00 which overlaps with a previously broken rising trendline.
For intraday trade, traders may consider...
Daily outlook - EUR/JPY climbs to 129.46
An early hours of Monday’s trading session revealed that the EUR/JPY currency pair has successfully used an upside moment that was created by a release of data on the US CPI last Friday to surge not only to the 129.46 level, but climb even a little bit higher.
In theory, the pair has a chance to gain a foothold at...
Note:
We are more bearish on this pair now.
There is a potential Double Top Setup.
Let's see if it is able to break the neck line at
1.312 level
Here are 2 trading plans:
1. Short when the price break the neck line
powerfully or after breakout followed by pull back.
2. Wait the price correction to the next resistance
level at 1.319 level and short again.
Note:
From the big picture, we remain bearish on this
AUD/USD.
There are 3 possible trading plans for this:
1. If the price break the support line at 0.729x level
significantly, wait for pullback to short with right risk.
2. If the price continue pullback back. 0.742x level
will be next shorting opportunity.
3. if the price correction is way too strong, it...
Note: Congratulation for those who follow our trade
last week. If you never move your SL, your trade is
in good profit now.
We have 2 trading plans here:
1. Watch the next Support Zone near 0.96x level.
The price might have either some consolidation
or pullback.
Wait for right bearish signal to short.
2. If the price pullback again to the 20-EMA, wait
for...
Note:
Overall, we remain bullish on USD/JPY pair.
Now, price having correction to 20-EMA, followed by
a bullish signal.
It is a Swing Setup, but aware of the immediate strong resistance zone.
There are 3 trading plans for this trade:
1. Long now with little risk amount as it is a
good swing setup.
2. Wait the price having more correction to the
strong support...
Note:
Overall, we are bullish on GBP/CHF pair.
There is strong pin-bar appeared above the support zone,
a good signal that it might go bullish.
There are 2 trading plans for this pair:
1. Wait for another bullish signal to long. Or wait for
2nd bullish signal to long it.
2. If the price breaks the support zone. Wait for
pullback to the support zone and short!
Note: EUR/JPY follows our prediction previously.
Overall, we remain bullish on this pair.
We have 2 trading plan for this pair:
1. Long now or zoom into H4 chart to look for
pullback and bullish signal to long.
2. We wait for pullback to the support zone again and
another strong bullish signal to long with right
risk amount.
Note: AUD/CAD is following what we predicted
last week and 2 weeks ago.
Overall, we are bearish on this pair.
We are looking for the price correction/pullback to
the resistance zone near 0.977 level and a bearish
signal to short with the right risk.
It will be a high R/R ratio trade :)
Note: AUD/NZD follows what we predicted last week
and previously.
Overall, we are bearish on this pair.
Here are 2 Trading Plans for this trade:
1. Wait for pullback to the upper line of this
downward channel, followed by bearish signal
to short with right risk amount.
2. Zoom into H4 or H1 chart and look for pullback
to 20 EMA and short with right risk amount.
