Since last week, NZDUSD has broken above a 2-week falling trendline thus ending a bearish structure. A bullish bat was formed after the breakout and as the price pulled back. The price has currently found support at 0.6593 and a rebound has begun. And once again, the price break above another minor falling trendline. Price did a little pullback and may start to...
While NZDUSD retraced expectedly before rising further, the current movement suggested further retracement before the rebound. What's confirmed now is that NZDUSD has broken away from a previous bearish structure and recently also broke out of a consolidating structure towards the upside. The price is expected to retrace 0.6615 where it broke out from a bearish...
NZDUSD has been on the rise since it found support and rebounded off from a 4 year low around 0.6200. In the process of the rebound, the price has broken a few critical resistance levels such as the 8-month falling trendline. There's little doubt that NZDUSD is in a bullish structure while the dollar is also weakening. Just recently, the price has broken out of a...
EURUSD continued to recover from the month loss after forming a Gartley pattern and rebounded off from a 2-week demand zone. The rebound is still seemingly below moderate but higher lows have helped the price to remain a bullish structure. German CPI was just confirmed to perform at a 5-month high and could help to boost EURUSD later. Traders can wait for a...
AUDUSD has broken above a 12-month falling trendline last week and has begun its retracement. As of current, the price has pulled back to the trendline again but the pullback seems to be unfinished too. There's also a break of a falling trendline and orders could be trapped at 0.6843 which make this region a demand zone. Therefore, await further pull back and look...
AUDCAD Trading Plan >3 > Wait for short time frame correction . > Long
EURUSD fell and broke below the range bottom at 1.1066 as the dollar climbed during NFP which shown very positive employment data. The price continued to pull back and has reached the range bottom again which may act as good resistance. EURUSD is currently still trading near the top of an 18-month falling channel and thus the chances of falling is greater. With...
GBPJPY seems to be rejecting its resistance, Potential drop. Trading CFDs on margin carries high risk. Please ensure you fully understand the risks.
EURUSD turned out expectedly as price rebounded off from range bottom and gained all the way to the top. Since then, the price found resistance at range top and fell into a minor range lesser than 30 pips. EURUSD is currently still trading at the high of its 18-month falling channel too which gives an edge for the bears. For sellers, now is already considered a...
My chart plotting remains literally the same as the last weekly forecast. Gold fell at the beginning of last week and ranged while forming lower highs. The price was seen constantly rejected off from 1453. Finally, last Friday, the gold price soared during the US session and breached the range high of 1462. The bullish wave also broke above a falling channel in...
Another interesting repetitive pattern is about to take place. In late June, just like in early November, EURUSD established a strong bearish trend and fell from the top of a major falling channel. The price found support and retraced which led to a range. As seen in the previous pattern, the range consisted of 2 bullish waves before it resumes the major bearish...
The gold has completed the 3rd bearish wave within a 3-Month consolidation timeframe. The price has broken away from a bearish trend and turned into a range for the past 2 weeks. As of current, the price has slowly come down to the middle of the range and the CD leg of an ABCD is about to complete. Look for buy opportunity as the price reaches the 1-week demand...
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...
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...
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...