EURUSD has climbed strongly but got rejected at 1.126 which led it to fall for another 2 days. However, the dollar plunged and pushed EURUSD up again and the week ended with a bullish candle. Based on the structure, the price could be forming an ABCD which will be completed within a supply zone at 1.1300. But just before that, the price should face some resistance...
The dollar did not turn out what was expected and the entire sentiment has turned from a bullish to bearish. It started off by falling for 2 consecutive days which dived a little deep below the breakout level of 97.7 but managed to pull another 2 days of bullish movement that covered most of the weekly losses. And then the market chose to buy the story and sell...
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.
The gold has climbed last week as it proceeded with the retracement after breaking below the neckline of a head n shoulder. This is also considered a break-below of a range at the top of the 34-month symmetrical triangle which will bring forth a bearish market. In this week, we will observe the price closely at its current level and as it creeps into the supply...
EURUSD fell and broke below a 2-month low at 1.1196 and it managed to close below despite strong rebound at 1.1120. The technical chart clearly favours a bearish market now and there will be a selling opportunity again this week. In the H4 chart, the price has completed a wave of retracement and awaiting the 2nd wave to be completed. In this week, we will wait...
Last trading week was an eventful one as the dollar finally broke a new high in 5 months. It was a clean break as it closed above the previous high with a strong bullish day candle and the retracement was shallow and the price still sits on to of a 23-month supply zone. However, it is unlikely that we will see the dollar climb straightaway towards the 24-month...
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...
The gold continues to break lower as US stocks market continued to climb steadily. The neckline of an HnS was successfully broken creating the case for further bearish movement. And looking at the weekly chart, the price has also closed below a range at the top with a significantly bearish candle. In the first trading day of the week, we can expect further...
EURUSD took an unexpectedly bearish turn as a lack of demand failed to maintain the price higher and a weak Euro data caused a snapped in the shared currency. The price broke 2 higher lows in one wave thus making a strong case for further bearish movement to follow. Due to Easter Day, volatility will be low and the price may continue to retrace higher. We can wait...
The dollar has made a comeback last week as a lack of sellers after breaking below a range and a strong retail sales caused the dollar to rise. Based on the current movement, the dollar is most likely to retest the 23-months supply zone at 97.6. Volatility will be low on the first trading day throughout Asia and Euro session due to East Monday which is most...
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...