The RBA will release its rate statement in less than an hour.
The fresh new threat of the US-China trade war is very likely to be reflected in the statement which is most likely to be bad for its currency.
The aussie has plunged since the market opened this week.
While the price has retraced significantly, the gap has yet to be covered.
Therefore, if the price...
The gold jumped in the first hour when the market opened but fell into consolidation immediately afterwards.
This move showed the intention of accumulating buy orders at the top what would be the best to do now is to wait.
Wait for the price to retrace lower, wait for the patience of those who chased at the top to run out of patience.
The first point of re-entry...
USDJPY is about ready for a fresh new bullish trend after a hawkish FOMC.
The price saw itself surging as it rebounded off from a key demand zone supported by a 4-month rising trendline and after the completion of an ABCD pattern.
The price has now closed above the falling trendline and stands above the previous high of 111.55, thus affirming a new bullish trend...
The gold has been consolidating downwards since the price has jumped over the top of the range at 1280.
It has taken 2 waves of downwards movement and the price had two successful retests at the breakout level 1280.
Therefore, we are expecting the price to rise from here as it embarks on its second wave of an uptrend and face strong resistance at 1294 (see chart).
USDJPY came down strongly after a fake breakout of 112 since last week.
We can clearly see a falling channel is forming since the first wave of bearish movement has ended and as the second wave is still in progress.
In an ABCD pattern, it is important to watch for the break of point C before we can conclude that it is able to form D and that's what's happening...
EURUSD has broken new low in 2-months and price has already begun its retracement.
As the dollar has recently broken anew high in 5 months, it is expected to climb further which gives a bearish EURUSD an advantage too.
Wait for the price to retrace further into the supply zone at 1.1190 which coincides with a falling trendline for a selling opportunity.
Just when we are ready to follow the trend and continue to buy, a strong supply came in and near the 4-month supply zone.
The price has broken below a 1-month rising trendline as well as the bottom of a range, and it is even clearer if we look at the strong bearish candle in the Day chart.
The structure has changed into a bearish market and the price has also...
USDJPY has broken out of consolidation and price managed to close above 112.
The price retraced significantly today and is seen supported now at a rising trendline.
Given enough space to climb, USDJPY is expected to rebound and climb again soon.
We are expecting the price to reach 112.50 and face a strong supply zone.
When was the last time you have taken a look at the monthly or weekly chart of AUDUSD?
If you do so, you would realise 2 things:
1) AUDUSD is way undervalued.
2) Price is already at the bottom of a 4 years range.
Under these 2 conditions, there's very little reason for us not to focus on buying AUDUSD.
Previously, the price has already broken above a 4-month...
Since EURUSD has broken below both rising trendline and bottom of a range with a strong bearish candle, the price went into consolidation since last Friday.
The consolidation has carried on till now where the 2nd wave of retracement is most likely to be completed by the US session.
Once the retracement channel is completed, we can look for a sign of a stop for any...
EURUSD plunged through the bottom of its current range a well as a rising trendline as weak euro data caused euro to weaken.
It was also probably due to the lack of demand to support the price after a second retest of the breakout level.
Based on the current movement, the seller is clearly in control of the trend and will most likely fall further.
During the U.S....
Gold has finally broken below the neckline of an HnS which has been forming since the beginning of the year.
This is a clear sign of a bearish trend but we always avoid chasing after the trend whenever a breakout happens.
Instead, wait for the price to pull back and retest the breakout level (neckline) to see if there's any more demand left and if there's more...
USDCAD rebounded strongly yesterday after strong demand appeared at the bottom of a 1-month symmetrical triangle.
The price closed above the middle of the whole ranging structure signalling that the price may climb further.
The price is likely to climb higher with some remaining demand and will retest the top of the symmetrical triangle where the price will face...
EURUSD has reached the bottom at 1.1188 and fell into a range.
The range was broken above last week and the price fell into another minor range while sitting on to of the previous range.
On the last trading day, the range was broken once again and therefore we will most likely experience another short-term range.
As long as the price is seated on top of the range,...
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.