By Andria Pichidi - May 31, 2019 Sterling has hit fresh trend lows against the Dollar, Euro and Yen, among other currencies. EURGBP buying has been the latest focus of pound selling, with the cross popping upward by 20-30 pips in making a 4-month high at 0.8866. Cable carved out a fresh 5-month low at 1.2581 late yesterday, and looks set to extend this. Given...
Good morning traders, Clean setup on US dollar versus Swiss Franc with strong resistance levels keeping this pair in check and forcing it lower towards 100. Our trading view chart has highlighted the key support and resistance levels at play for this pair. We tested resistance levels again around 1.008 to 1.01 last week before pulling back and we are now looking...
Hi Guys, since Gold crossed into negative sentiment at the end of February, RSI has yet to be oversold. Last time it has been oversold it was in the summer of 2018 between June and August. Remember the Bull Run starded on Aug.16th, 2018? That was the last day Gold has been oversold. Having said that, please note the 3S representing areas of supports for the...
Have a look at the above link for the analysis behind this trade setup. Entry level: at around 77.400 STOP LOSS: 80.300 TAKE PROFIT: 74.500 RR: 1:1 With Trump threatening fresh tariffs on Chinese goods imports, the aussie made a gap down there by breaking the trendline and looks to set to continue its downward channel move! shall there be any updates, i will...
USDJPY broke new low yesterday and has recovered fully. The price has seen retraced back and beyond the breakout level at 109.50 which shows that USDJPY is prone to selling. A bat pattern is formed in the process and the price consolidated within the supply zone. This would be a good opportunity for an intraday sell where the price is expected to fall further on...
Have a look at the main weekly TF chart of this pair. Its a very tricky pair to trade if you look closely at it but if you look at the monthly TF, you will notice the price is rangebound for quite some years now. The red horizonatal lines represent the concrete support and resistance levels taken from the monthly charts. From the main chart, it can be seen that...
The chart shows the weekly TF where the price is confined in a well respected triangle! The nearby red horizontal lines are the concrete support and resistance levels taken from the Monthly charts. Currently should the price break the triangle to the downside, we can expect the price to fall towards 79.000 level, On the flip side should the price break to the...
After the strong impulsive trend started in November of last year, Gold is currently in correction mode. If the metal makes fully WXYXZ correction, we should be expecting one more strong correction wave to finish the Z wave. Not anticipating strong up movement until the resistance line broke. In lower time frame, gold is in range play and it is better to wait for...
Have a look at the main chart of the weekly TF! Here we can see that the price has been confined in a downward channel. The nearby green horizontal lines represent the concrete support and resistance levels drawn from the Monthly charts. Shall the current ascending trendline inside the channel break, we could see the selling pressure build up towards the crucial...
Looking at the chart, the monthly TF gives an overall technical perspective to where this pair might be headed. the three green lines are concrete support and resistance levels traced from the monthly charts. Shall the current or future candle (Monthly candle) close below the 73.000 level (green line support) we can confirm that the triangle has been breached and...
With the H&S Pattern completed sometime ago, this pair Hit the support that lied in the region of 1.11500, from there onwards it started a rally that went back and tested the neckline of the H&S pattern. With the eurozone economy slowing down, we can expect the price to drop again towards the lower end of the range. To do this, the weekly candle must breach the...
Whilst markets on RISK ON moods, the SAFEHAVEN FX pairs such as JPY and CHF TURN OFF the investors. In this case CHF is paired with the USD, which just thinking fundamentally about it is the best pair to trade alongside USDJPY when the markets are in RISK ON mood! While DXY (DOLLAR INDEX) has been declining in the last days this pair however has been building...
The above snapshot represents the daily chart of the yellow metal. it can be clearly seen that the head and shoulder formation might just be about to completed soon! The main chart (4hr) shows the channel has been breached with EMA 50 adding further confluence to downward move which could target the potential neckline of the overall H & S formation. Once the...
Once the channel breaks together with the daily 50 EMA, we can expect the price to go north and test the weekly 50 EMA which lies at 84.300 level. the blue line support is derived from the monthly charts and its a concrete support which has been rejected and the price shows it might climb up. For this to happen the channel must break. This just represents my...
ENTRY TYPE: IMMEDIATE ENTRY AT AROUND 124.900 LEVEL STOP LOSS: 126.000 TAKE PROFIT: 123.400 RR: 1:1.55 SHALL THERE BE ANY UPDATES I WILL UPDATE THEM IN THE THREAD AS NEEDED. CHEERS
Safe haven assets are on the rise. In the time to come we believe that safe have assets will continue their climb. US president Donald Trump recently stated that tariffs on China will stay until they comply with the “deal”. The “deal” is very difficult to comply with as it includes buying additional US goods and enforcing international copyright laws. This whole...
The blue lines represents the support and resistance levels drawn from the monthly charts. If the price breakouts of the triangle in either direction the support or resistance levels next to them needs to be broken decisively in order for the technical aspects to be in our favour of the trade. shall there be any updates i will post them in a new thread. this just...
AUDJPY is currently range trading that is visible by looking at the 4hr and daily timeframes. Looking at the main chart it can be seen that the price is confined in between the blue lines (range). Shall a breakout of the range occur to the upside, the price will look to target the 81.000 area where the weekly EMA 50 is present. Have a look at the snapshot of the...