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...
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...
The gold has climbed for the first 3 trading days of last week which it found resistance at a falling trendline. The resistance has translated into a very bearish movement and broke through the bottom of a rising channel in the H4 chart. On the last trading day, gold fell into a range and there's one hour where buyers did try to push up the price but failed...
EURUSD started off last week with a strong bullish candle that broke above a 1-week range. On the 3rd day, it retested the range but buyers are strong enough to hold off the sellers thus leaving a long lower shadow. on the 4th day, the price attempts to fall again but it was obviously one without commitment. The buyers came in strong as sellers are worn off and...
After more than a week of ranging near the top, the dollar has broken below the range. On the first day of the breakout, the price pulled back strongly the following day back into the supply zone. However, on the last trading day last week, the dollar fell through the floor, showing that the sellers are now in control. Therefore in this week, we are clearly...
Gold has ranged throughout last week and still maintained above the demand zone at 1282 but also below 1300. The bearish bat pattern has already taken effect as the gold did fall, and at the same time, a head and shoulder was formed too. Since the price failed an attempt to break the neckline, it leaves a possibility for the price to pull back and climb into the...
EURUSD has turned out as expected except for the fact that the volatility of the range is smaller. The price did not show any strong rebound near the 21-month demand zone which could be just a delay. Therefore, in this week we expect EURUSD to rebound and climb towards the supply zone at 1.133. However, due to the uncertainty that the dollar has presented, we...
The dollar was little changed last week as ranges between 97 and 97.6. By the end of last week, the price was seen closing below 97.4 within the supply zone which may lead the dollar to start another short-term bearish trend. However, we do not exclude the possibility where the price breaks new high immediately on the first trading day this week. Therefore, I...
The gold price has turned bearish again as it fell strongly and break below the bottom of a rising channel. The price also failed an attempt to rebound as it reaches near a 3-month demand zone, leaving a long upper shadow on last Friday. Based on the monthly closing candle, it has become obvious that the price has to dip even lower, possibly 1237 which is the...
EURUSD fell for 4 consecutive days last week as the price failed an attempt to rebound on last Friday. Although there's little sign of reversal at this moment, the price may soon retrace due to overselling. As the monthly candle has closed, it has shown that EURUSD is set to fall even further towards 1.09 which is a 24-month demand zone. In this week, we are...
The dollar has turned bullish again last week, not for its strong fundamental reasons, but the weakening fundamental outlook of other major currencies. The month of March has ended and the dollar managed to close with a bullish candle and above 97. This still shows that the dollar been the one with the highest interest rate will still fundamentally be...
Still remember when was it that we see the Dow, Nasdaq and S&P break through the ground? Since then, the price has almost recovered all of the losses in a very gradual and staggering fashion. But last Friday, we saw the biggest drop in 5-months based on a week. It also showed a bearish engulfing candle within a supply zone. And whatever that's just explained, it...
The gold has climbed gradually through the week while supported by a rising trendline. The price has yet to reach the supply zone and thus it may continue to climb. On an important note, gold has shown some kind of divergence from the dollar. Although the dollar has rebounded strongly, the gold was little affected and eventually climbed further. The US stocks...
The EURUSD didn't come out quite well with what we had expected in our weekly forecast as it surged much higher and broke above a 2-month falling channel for the first time. The price, however, retraced a lot stronger than expected which we believed have stopped out many buyers along the way. And since the price did not rebound before the week ended, there's...
The dollar ranged lower at first and plunged amid a dovish Fed. The price broke below 96 and got rebounded off by a demand zone at the bottom of the ascending triangle. As of now, the price has retested the supply zone at 96.6 and was held below ending the week. The underlying sentiment of the dollar has definitely turned more bearish but we can expect the price...