USDJPY is on a rise since last week and continued so in the beginning of the trading week too.
Safe-haven assets seemed to have lost its demand for now as Brexit discussion is showing positive signs.
While this is most likely to be temporary, day trading clearly favours a weaker yen (and gold) and we can keep things simple.
USDJPY is climbing within a rising...
As discussed in my last EURUSD weekly forecast, the reversal has taken place as the price broke above a 3-month falling channel.
In the midst of the breakout, a new rising channel has formed and the price has started to retrace from the top since the market opened this week.
The price has certainly reached the demand zone but is most likely to give it another...
EURUSD has reversed and taken a bullish stance as it broke and closed above a 3-month falling trendline.
Based on historical prices within the channel, EURUSD was always able to climb to the top of the channel whenever there's a break of a bearish structure just like now.
Therefore, in the next 2 weeks, we will switch towards looking for a buying opportunity.
USDJPY has undergone retracement since the first bearish wave which broke below a rising trendline.
The price has just completed an ABCD pattern as it found resistance within a supply zone (based on the breakout area).
This is a great combination of a reversal, and clear trend formed and a perfect retracement pattern to execute a trade.
EURUSD turned out as expected of my previous forecast as it started to range after the retracement from the new low.
The repeating pattern shows that the price is expected to range in the coming week.
Traders can look out for a selling opportunity at the top of the range, stop loss placed just above 1.1020.
However, the distinct difference between the current...
If you are reading this forecast, bookmark it and revisit on the 3rd week of October.
If you have missed 2 great trends which were shown in my previous 2 forecasts on Gold and US30(check out related ideas below), here's the next one you don't wanna miss!
The chart is pretty much self-explained already.
EURUSD has hit a new low last Tuesday during the European...
Chart patterns and timing work hand in hand.
Last week, the US30 has been consolidating for the 2nd week while creating lower highs and lower lows.
A similar pattern has happened jus about 2 months ago in July as the price rose to a high, consolidated for close to 3 weeks, and fell like a waterfall.
Straight to the point, traders can consider selling US30 right...
The US30 has proven to be taking a bearish stance throughout the week.
The current analysis is also linked directly with my previous analysis while the price is still climbing but unlikely to break a new high.
Initially, the price broke below the bottom of a rising channel last week which already shown an indication of a stop to a bullish structure.
Yup, it's exactly the date of my birthday lol!
Alright, EURUSD has been trading within a range last week.
Although it seems slightly bearish for EURUSD, the fact that it's still staying supported at the bottom of the range says that the price could still climb further.
The long-term outlook for EURUSD stays bearish but this coming week could be a short-term...
The current bullish wave (major retracement) is probably coming to an end soon.
EURUSD has been ranging since early this month after it hit the lowest at 1.092.
The price is currently trading at the high of the range and is also about to reach the top (selling zone) of a 39-month falling channel.
With that, I think we can keep it simple and sell EURUSD in the...
"Saturday’s attack on Saudi oil fields knocked out about half that country’s oil production."
That's the major news first thing in the morning and we have seen the gold jumped as well as oil, yen, Swiss franc and cad.
The gold price was trading within a range since early August and the price has came back to this month low and was well supported at a demand...
Every new low comes with a rebound over 200 pips.
That's the repetition I see and the same thing seems to be happening again.
The only question is: Will the price continues to go up right away OR will it retest the bottom?
It's simple! Don't trade in the middle. Sell if it reaches the top and buy if it retests the bottom.
But if I were to make a guess, I think it...
The gold has been consolidating (with some new highs) for the past one month since it first broke above 1500.
Previously, the gold has also consolidated for a month and a week since it first broke above 1400.
Which also means, we are 1 more week away from a major bullish wave which could potentially break 1600.
The price has dipped for the last 2 trading days...
The gold has consolidated for more than a week since it broke new high at the beginning of last week.
The price has made another attempt to break new high as it broke the top of the consolidation but came down quickly as it lost its buying strength at the previous high of 1555.
There's a repeating pattern which shown the price fell as much as 300 pips once it...
An interesting repeating bearish harmonic pattern has presented itself and the bearish trend has just begun.
According to the past development of the bearish trend after the completion of the bearish harmonic pattern, the price will fall steeply with shallow retracement and very little support.
Sell USDCHF whenever the price retraced to the previous low in the...
EURUSD continued to retrace for the 3rd trading day with little sign of rebound.
As observed, the price has formed lower highs and lower lows throughout the last 3 trading days and thus the price is expected to retrace further.
The price will soon retest the final demand zone near the previous low at 1.1050.
Look for buying opportunity from 1.1065 onward with a...
EURUSD has retraced significantly since the beginning of the trading week.
The price was seen supported at the 618 level which lasted from last night and through the Asian session.
The price has also rebounded off and broken above the minor consolidation when it was first seen supported at the 618 level.
It is a good time to buy the pullback, targetting at 1.1150...