The risk sentiment just converted to risk on as investors seems to take buying positions in the global stock markets. Dax just violated major resistance of 12392. I'm seeing next resistance near 12600. Keep following for more updates!
Gold - Intraday levels Support Resistance 1255.89 1261.31 1254.21 1262.99 1251.5 1265.7 Key Trading Level: 1258.6
Thanks to some Brexit headlines the GBP saw some upside on Wednesday. However, we are still struggling to see a jump above the 146.00 level. That's a key resistance level, there's also a trend line and on the H4 chart the 200 SMA is in-play. This might be a point to be selling.
Today, the idea is to stay bullish above $1,252 with a stop near $1,248 and take profit $1,262. Good luck! Keep following us and feel free to comment below if you have any questions..
While the US celebrates the 4th of July, the USD faded off its recent highs. That has seen some strength come back into the majors. Todays strong retail sales has helped boost the Aussie a little further. While we expect quiet trading conditions today, I'm looking for a failure at 0.7450 as a spot to be short the AUD/USD. As we continue to maintain the downward channel.
The first six months of 2018 have taken the USD/JPY on a rollercoaster ride. Featuring a massive sell-off and subsequent recovery, this market appears ready to test yearly highs. The 78% retracement level for 2018's range may come into play as topside resistance later in the week. Here is the trade: 1) Entry: Sell 111.39 2) Stop Loss: 111.76 3) Profit Target:...
Bearish NZD/USD 1. The trend has been bearish for three weeks 2. The downtrend has picked up additional pace 3. The retrace higher is complete 4. The 50 SMA is scaring the buyers 5. Stochastic is overbought 6. The previous H1 candlestick closed as an upside-down hammer The technical analysis looks pretty bearish to me. The downtrend is quite strong and it has...
Let’s keep an eye on $1,246. The idea is to take buying positions above it for 30/40 pips. While sell entries will be preferred below $1,246 to target $1,242. Good luck and stay tuned for more updates.
Today $73 is a very crucial trading level and crude oil can stay bearish below this level to target $72.10 and $71.75. Good luck! Keep following us..
1.1500 continues to shape up as a big support level in the EUR/USD. There's no doubt the trend is down. The USD continues to rise and if not for the migration deal on Friday, the EUR/USD would likely be back at the recent lows. I'm looking for a test and break of 1.1500, given what looks like a Descending Triangle pattern taking shape.
The last two weeks have brought considerable strife over trade wars and new tariffs. The DJIA has struggled accordingly, with values trending south on a seemingly daily basis. As a result, the September E-mini DOW futures have tested the 24000 level. A sell from just beneath the daily 38% retracement is a good way to join the intermediate-term trend. Here is the...
Today $73 is a very crucial trading level and crude oil can stay bearish below this level to target $72.10 and $71.75. Good luck!
Today $73 is a very crucial trading level and crude oil can stay bearish below this level to target $72.10 and $71.75. Good luck!
Gold has a very strong support near $1.246 today. I will be looking to stay bullish above $1,246 to target $1,252, while selling entry will be preferred below $1,252. Good luck and stay tuned for more updates!
USD/JPY has formed a nice uptrend last week and it seems like it is continuing with the same idea in mind this week. The 50 SMA (yellow) has defined the trend. The 50 SMA was providing resistance before the uptrend started early last week. Now, it has turned into solid support. The 50 SMA has been pushing this pair higher and this morning USD/JPY and the 50 SMA...
Last week the NZD/USD was the weakest performer. Thanks to some USD downside on Friday, it managed to salvage something. Given the shortened trading week, there might be less volume from the US and the USD might drift lower. Setting up for continuation of the downtrend in the NZD/USD.
The recent pain in Bitcoin is bringing a huge psychological level into play. The $5500-$5000 level is very likely to attract institutional longs in anticipation of a return to $7500-$10,000 by year's end. If you don't mind a traditional buy-and-hold investment, then going long from this area is not a bad idea. Here is the trade: 1)Instrument: Physical Bitcoin,...
The recent bullish action in WTI crude oil futures has brought new optimism to the Canadian dollar. The result may be a long trade setup from the 38% Fibonacci retracement of the current wave on the daily chart. Here is the plan: 1) Entry: Buy 1.3226 2) Stop Loss: 1.3194 3) Profit Target: 1.3258 4) Risk vs Reward Ratio: 1/1 If we continue to see August WTI run...