Gold price got rejected exactly at the 100 day EMA and currently, the price has settled well below it. So, buyers need to be very careful here. There is a good chance that the price will drop to the key level at 1788 once again. I would advise traders to wait and watch before buying. In my opinion, 1780-1790 would be a good level to buy. Short-term traders...
After hitting the lows at mid-1.21 levels, GBP/USD made a decent recovery. However, the recovery appears to have run out of steam now. Price action over the last few days has been weak and currently, GBP/USD has edged lower below the 100 period EMA on the 4hour chart. So, bulls need to be careful here. There is a chance that GBP/USD may visit the recent lows...
Dear traders, as a continuation of my previous idea, I am adding further relevant points and updating the EUR/USD idea in view of the current developments in the market and also adding a possible trade signal. In the daily chart, you can see that bearish candlesticks have formed in the resistance level. This is a strong indicator that price may drop further in...
EUR/USD is in a prolonged downtrend for quite sometime now. After reaching the multi-year lows at 1.03 level, EUR/USD staged some pullback and managed to reach close to the 1.08 level. However, the recovery seems to have run out of steam . A combination of technical and fundamental factors may cause EUR/USD to tumble in the coming days. The broken support level...
Dear friends, in my previous GBP/USD idea, I told you to sell at 1.3061. If you followed that trade, you have made over 180 pips profits. Currently, GBP/USD is holding above the 100-day EMA. So, there's a chance that price can reach 1.30 and even 1.3050 this week. That being said, post-brexit trade talks and rising Covid cases in the UK continues to impact the...
Dear friends, in my previous Gold idea, I told you to sell at 1931 and TP at 1875. If you followed my idea, you have earned very good profit as Gold hit my TP.(previous idea attached below) Currently, Gold has found some support at the 100-day EMA level near 1860. So, it is possible that the pullback may continue till 1900 and even 1920. I personally don't...
Dear friends, in my previous EUR/USD idea I advised you to sell at 1.1860 and target 1.1670 as TP ( previous idea attached below). If you followed it, you have made more than 200 pips profit. Currently, EUR/USD is at a critical area. It is at the 100-day EMA level. Besides, 1.1620 can also offer some amount of support. So, it is possible to see a small...
EUR/USD reversed from the top of the price channel. However, it went up again on Friday reaching 1.1860 levels. Despite that, I would be looking to sell the rallies in EUR/USD. 1.1860 to 1.1904 can be a possible sell zone with initial TP at 1.1790 and final TP at 1.1670. SL can be placed a little above the channel resistance.
Dear traders, in my previous NZD/USD analysis. I mentioned about selling at 0.6660 and targeting the 0.6550 level as TP( previous idea attached below) As you can see, price dropped exactly like I had predicted. Currently, NZD/USD has reached the familiar supply zone once again. So, we can look for sells from the current level and target the 0.66 area as TP1...
NZD/USD price action is looking a little bearish on the hourly chart. Price is unable to break out of the supply zone. At the same time, we can see the formation of bearish candlesticks on the supply zone. A strong break below 0.6645 level with a bearish impulse will confirm the drop. Possible targets would be 0.66 and 0.6550
Dear friends in my previous idea, I told you to buy near the 1.2850 level and target the 1.32 level as TP.(previous idea attached below) If you followed that idea, you have already made more than 300 pips profit. Currently, GBP/USD bulls have failed at the top of the channel once again. So, it is very likely that price will continue to drop till it reaches the...
EUR/USD appears to have peaked. 1.1875 level will act as an immediate resistance and cap the upside in the near term. Selling the rallies in EUR/USD is preferred with initial targets at 1.1740, 1.1690 and 1.1600 respectively. Stop loss can be placed above the resistance level. Current price action definitely looks bearish and the downtrend may accelerate...
AUD/USD appears to have found some support near the 100-day ema level. Besides, 0.70 key level will also offer strong support. So, as long as price stays above the 100-day EMA, AUD/USD can reach 0.72 once again. I would be looking to buy near the 0.7060 level to keep the risk low.
Dear friends, in my previous idea I told you to buy near 1.2850 level. Price dropped near the 1.2850 level and then went back up. Currently, I am still looking to buy the dips in GBP/USD as long as price stays above the 100-day EMA level. Targets would be 1.3060 and then 1.32 with SL below 1.2850. The buy entry will be taken only if bullish price action...
EUR/USD downtrend may continue a little longer. However, I am expecting price to find support near the 1.16 level. If EUR/USD drops near the 1.16 level this week and shows bullish PA, I would be looking for buy entries. That would be a low-risk buy set-up Currently, I am expecting price to drop below the 1.17 level soon.
Dear friends, in my previous GBP/USD idea, I told you to sell at 1.3060 channel resistance level( idea attached below). As you can see, that trade generated close to 200+ pips profit. Currently, GBP/USD is approaching the 100-day EMA. Along with that, 1.2850 key level is also intact. This gives us the possibility to consider long entries. Keep in mind that...
Dear friends, in my previous AUD/USD analysis, I told you to sell at 0.7240 which was the descending trend line resistance( previous idea attached below). As you can see, AUD/USD dropped exactly from that level I mentioned and gave use very good profits. Currently, AUD/USD has reached the 100-day EMA level where it can find some support. So, there could be...
Dear friends, in my previous EUR/USD analysis, I told you to sell near the 1.1820 level. ( idea.chart attached below). So, anyone who followed has made very good profits. Currently, price is hovering near the 1.17 level. At this stage there could be some consolidation before the next big move. There could also be some pullback before the next downtrend. I am...