Happy New Year to everyone. Wishing you all a Prosperous 2020! EURUSD is showing extreme optimism on the daily timeframe, any price rejection any moment is likely to pullback price to support level NB - Let emotions and sentiments work for you -ALWAYS Use Proper Risk Management In Your Trades
With AUDNZD sentiments turning to bullish on H4, AUD possibly may be making significant statement to NZD that it's the currency turn to rally ahead of its counterpart... NB - Let emotions and sentiments work for you -ALWAYS Use Proper Risk Management In Your Trades
NZD just too strong for USD to hold back. Now at the weekly downward trendline, will there be any rejection at the highlighted zone???? NB - Let emotions and sentiments work for you -ALWAYS Use Proper Risk Management In Your Trades
USDCHF is approaching a strong support level on the daily, but in the meantime, there will be some distributions taking place among the time frames. I expect some lower time frames to begin to rally notably 15mins and H1, but this will be confronted by H4 bears to drag the pairs down a bit before daily bulls caught up again!
Natural gas is now gathering momentum to start impulsive wave. A break below 2.036 will mean a re-test of 1.78 NB - Let emotions and sentiments work for you -ALWAYS Use Proper Risk Management In Your Trades
Bears are to capitalised on the extreme optimism on silver and possibly drag the price down to the available support level before bulls intervenes and cause the metal to rally once more...
Amazon witnessed a massive selloff on Friday, making it vulnerable for more selling pressure. If the price end up next week Monday with another rejection candle, the stock price will likely pullback to last support level
Gold ended in indecision for last trading day. Now awaits the direction the precious metal intend to go as market opens next week. Closing price next week will determine if bears will force gold down or bulls will be in control again
Interesting trades ahead. EURAUD most likely to rise next week, however such uptrend will most likely be attacked by bears
There is a major resistance at 1.31642 which could cause GBPUSD to take a pause from its recent impulsive move. Traders needs to observe price actions around this region. The major move is still uptrend which may start at 1.3000
If we see EURUSD pulling back early next week, there is high probability the currency pair is gathering momentum to violate the swing high at 1.1200 and if that happened, then 1.130 will be exposed as the next target.
A trade on the list is this EURNZD long trade. NZD has been a very strong currency for a while but looks weakling on short term. EURNZD pair extreme pessimism seems to be changing gradually and a long trade setup is observed on H4...
This analysis is in support of fellow analyst idea (@meszaros) and reminder of our long term view on gold as published in September (see below chart). Now the 2 main hurdles left for gold to overcome is at 1561.833 and 1625.228. In view of gold's seasonality, the resistance at 1561.833 will likely be overcome before February. Depending on dollars index move,...
GBPJPY founds its bottom at 141.162 and has since made the first impulsive wave, now the pair is pulling back in order to commence another rally which potentially can take it up to 143.89 (Close to 199 pips). There is however a risk for the pair to reverse to downtrend at 143.039 due to daily timeframe bearish outlook.
Selling has reached extreme level on H4 for GBPUSD. Any more selling pressure will see cable reverse for a short term rally. Risk - Daily is still more bearish and a rise in price towards 1.30502 can drag price back to 1.29
Bitcoin on the higher time frame is still bearish. With daily sentiments shifting to bullish, bitcoin likely to range a while - attempt to re-test the previous low and rally again. This will continue until the narratives of cryptocurrencies change
Bullish Engulfing candlestick at an extreme pessimism is a good reversal signal. After observing this pattern on Litecoin, it is now set to rally up to at least 47.40 in coming days.
XAGUSD is showing potential to rally more on the daily chart, however the weekly outlook looks a bit bearish. This will minimise the rise potential of the metal, but apperently silver is set for a bit more rally before weekly catch up to drag it down or sideways.