EURUSD had the biggest gain in 10 months and the price has broken above a 5-month falling channel and closed just above a 3-month supply zone at 1.33. The reversal of a bearish trend came after the price found support at a 2-year demand zone and consolidated for more than a month. We can't be certain if this is a major or a temporary reversal but without a doubt,...
The dollar had the biggest fall in 6-month and the price was seen breaking below the bottom of a 4-month rising channel. The NFP was very disappointing and a dovish Fed is starting to look at a possible rate cut based on economic data. This is already a very clear sign of a major reversal and the dollar is actually resisted and falling from a 618 level in the...
The gold has led the longest gain in 3 years and now the price is at an all-time high. The price has climbed for 7 consecutive days and resistance has been seen rejecting the price from the top of a 35-month symmetrical triangle. The current wave of a bullish trend was the 2nd and the longest one since the rebound and will likely face with retracement soon. The...
The gold has made strong gains in the last 2 trading days and finally broke a new high first time in more than 3 months. Also, this marks the 4th consecutive weekly depreciation for the US stocks, with the most recent week being the weakest week. With the dollar being rejected and fell from the high and the US stock market continues to plunge, it clearly shows...
EURUSD fell through last week but rebounded off strongly at the bottom of the current range at 1.1120. It is also a second rebound from a previously broken falling trendline. In this week, we expect the price to continue to climb towards the top of the range near 1.1260.
The dollar climbed in the first 4 trading days and attempted to break new high above 98.3, only to find itself rejected and plunged. The strong bearish candle on the last trading day was enough to wipe out all gains. In this week, it is almost inevitable for the dollar to fall further and will most likely retest the demand zone right below 97.3.
The gold has failed another attempt to break new low and rebounded off strongly which led to a 2-days again. The strong rebound by a strong bullish candle also shows a second break-above of the 3-month falling wedge. The price is expected to climb further towards the current supply zone at 1296.
EURUSD has made an attempt to break new low as it tested its previous low at 1.1110. The price rebounded off strongly from the previous low as well as from a previously broken falling trendline. The bull is strong now and in this week, we do expect the price to climb further and test the top of its current range at 1.1250.
The dollar was somewhat consolidating at the beginning and suddenly it attempted to break new high. The price went slightly above the previous high at 98.3 but immediately got rejected by strong selling pressure. This is somewhat quite expected of the dollar whenever it attempts to break a new high. The situation where the U.S. economy is in surely isn't one that...
Just like the dollar, and since EURUSD has been moving in harmony with the dollar this week, EURUSD has clearly turned bearish after breaking below the key level of 1.1173 after the break below a rising trendline. And all indicators such as MACD, moving averages and Bollinger band has pointed toward a bearish trend in the week to come. Therefore in this week, we...
The gold price failed to maintain its bullishness even after it had broken above a 2-month falling trendline. The break came on the first trading day where a strong bullish candle pierced through the top of the range at 1288 together with the falling trendline. However, the bear came in unexpectedly strong, recover all losses and ended up closing with a bearish...
The dollar has shown that the consolidation has completed as it headed north through the whole of last week. Every indicator is in favour of a bullish dollar such as the 20,55 and 200 moving averages that are pointing upward, the Bollinger band that has opened its mouth, and the MACD has crossed upwards above level zero. The low and the high keep getting higher as...
EURUSD consolidated at the beginning and finally climb as expected, breaking above a falling trendline too. The price is now facing strong resistance at 1.1250, preventing it from breaking new high. If the price continues to climb, it will complete an ABCD pattern as it reaches 1.1300. The first 3 trading days will be very crucial for whether EURUSD will resume...
The dollar turned out as expected and broke below the bottom of the rising channel. The price is most likely to continue falling further and will eventually complete an ABCD pattern within the demand zone around 96.6. However, it is crucial that the price has to break below 97.2 in the first 2 to 3 trading days or else it may form a strong support for the bulls...
Gold had a week of consolidation as it failed to break previous low and rebounded off quite strongly, closing higher than its previous day high. The price is expected to climb further and test the top of the current range of 1287 and 1267. The major trend will still be unclear until the price has chosen to break out either side of the range. If the price falls a...
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...
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...