Buoyed by a weak US dollar, the Australian Dollar keeps rallying to close the week on a bullish tone. Going into the new, all eyes shall be on the RBA meeting minutes, Unemployment Rate, and Employment change to decipher if a breakout of the 0.67000 level will happen or not. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity...
Expanding diagonal ending at potential right shoulder peak below volume POC.
Dest the long-term bearish momentum on the XAUUSD, the $1,620 level has continued to hold buying pressure in the last couple of months to insinuate the possibility of a momentum shift in the nearest future. The US Dollar plunged on Friday despite the United States adding 261,000 jobs last month in its October non-farm payrolls report and from a technical...
Following the bullish engulfing candle on Friday, the Euro has a tendency to reach new highs in the coming week only if a significant breakout of the $1.000 level happens. However, we can not ignore the possibility of a possible bearish momentum considering the fact that the price has been trading below the $1.0000 level in the last couple of months. Risk...
Following the buying pressure at the 147.000 zone, the greenback rallied during the latter part of last week's trading session to insinuate a potential bullish expectation in the coming week(s). The dovish rhetoric of the BoJ’s monetary policy appears to have caused a plunge which makes it uncertain to jump to any major conclusion at this juncture. However, it is...
The U.S. dollar appears to be handing back some of its gains as buying traction was predominant during the course of last week's trading session. It is also worth noting here that the Dollar Index, which tracks the Greenback against a basket of major currencies fell by 0.1% to suggest the possibility of a retracement in the nearest future. Will the breakout of...
With the identification of a reversal pattern above a strong demand zone in the 4H timeframe, I am of the opinion that we might be witnessing buying traction during the course of the new week's trading session. Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all...
The U.S. dollar strengthened as Treasury yields pushed to new highs amidst the political chaos in the UK and the week retail sales from the month of September are not bringing confidence to the Pound Sterling. Despite sinking to the lowest level in recent times and looking at it from a technical standpoint I am of the opinion that bullish momentum could be...
The OPEC+ production cut from two weeks ago is yet to reflect the anticipated consequence in the market as price action appears to be completing the retracement of the previous impulse leg that started a couple of weeks ago. A breakout of the $86 mark this week will be a signal for me to buy the USOil. Risk Disclaimer: Margin trading in the foreign exchange...
It is important to note here how the price of crude oil is directly proportional to the value of the Canadian Dollar and if we take into consideration the OPEC+ decision a couple of weeks ago to cut down production by 2 million barrels per day; the likelihood of soaring oil price remains inevitable. The consumption of crude oil has remained steady despite...
LINKUSDT spiked closely @ TP1 which is a harmonic AB=CD pattern target from a breakdown of the prior low 1M candlestick inside bar. Reacting now from the volume POC. A complex Head and Shoulders can be validated after a pullback to neckline. Plus potential bullish Butterfly target.
In anticipation of the NFP result on Friday, Gold plunged to about 50% retracement of the bullish momentum that started the week but still posted a second straight weekly gain as price action evolved into a reversal pattern just around the bearish trend line identified on the daily time frame. The current structure screams a possible downtrend continuation but I...
The appearance of a reversal pattern around the bearish trendline identified on the daily time frame insinuates a bearish momentum for the week. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) is high-risk and unsuitable for all investors. The content of this speculation (including all data) is...
OPEC+ had its first physical meeting since the pandemic last Thursday and has decided to cut oil production which is definitely going to have an immense impact on price movement in the coming week(s). The impact of this event could be seen on the chart as we witnessed a significant breakout of the key level at $86.00 to set a bullish tone against the new week as...
This is a follow-up video to my previous analysis on the CHFJPY where we were able to close last week with about 130pips profit as the Yen continues to gain traction. So, after testing its highest point since 1980 - just right above the 151.00 area last week, the price has continued to find lower lows and lower highs. Will the BoJ's intervention continue to have...
The U.S. dollar plunged as the Pound sterling graduated to near one-week highs which appears to be a result of the intervention by the Bank of England and announcing emergency bond buying. Despite a solid bearish momentum which has characterized this market since the beginning of the year, I am of the opinion that we might be witnessing a temporary bullish...
This is a follow-up video to my previous analysis on the Gold metal as we were able to close our position on a positive note last week. Even though the price of Gold surged in the last four days of last week's trading session to reach a one-week high after a depressed September; I am of the opinion that a selling move might be setting up for the new week as the...
Possible inverted head and shoulders continuation on XRP if neckline is kept. (with double heads) 15% move. If you want to trade these breakouts try to long from retest of a neckline. (Great risk/reward) Always remember to use stop losses! 1st mistake novice traders do is don't use them and get their ass burned -Jebu