After dropping to 1.16 a couple of weeks ago, EUR/USD has managed to stage a pretty strong recovery. The US dollar has weakened drastically last week thanks to talks of another big stimulus package from the US. However, Euro's recovery may be short-lived. With rising Coronavirus cases in the Europe, market participants will soon start pricing in a weaker and...
Dear friends, in my previous Gold idea(attached below) I told you about selling at 1931 level. As you can see Gold has dropped nicely from our selling level. In the 4-hour chart, we can see the formation of bearish candles at the descending Trend line resistance . This is a good sign for the sellers. If the price stays below 1925 and we see more bearish...
EUR/USD is moving in an ascending channel in the hourly chart. The range is defined within the channel support and resistance. Currently, price has reversed from the Upper trend line of the channel. So, a drop to the channel support is likely now. This could be a possible trade signal based on the hourly chart Sell@1.1812-1.1825 SL:1.1860 , TP: 1.1760
Dear friends, GBP/JPY is currently moving in a rising channel. However, the price action looks quite weak and bulls are vulnerable. So, it is quite likely that GBP/JPY will drop to the channel support at 136.50. I would be looking to sell the rallies in GBP/JPY close to the resistance level.
EUR/GBP is approaching the 100-day EMA on the daily chart. This may trigger some larger institutional buys and help EUR/GBP pullback to the 0.92 level. The area between 0.9010-0.9040 is good for buys with initial TP at 0.9120 and final TP at 0.9180 SL can be placed below the support level.
GBP/USD is currently in a rising channel. However, price is struggling to break the channel resistance. Current price action indicates bulls are getting exhausted. As long as price stays below the resistance, GBP/USD is likely to drop to 1.2950. I would be looking to sell the rallies in GBP/USD. A strong break above the channel resistance would make this set-up...
Dear friends, in my previous AUD/USD idea(attached below), I told you about selling at 0.7240 at the descending trendline resistance. As you can see, AUD/USD reversed nicely from the resistance level. However, there may be much more drop left. A strong break below the 0.7160 level would lead to more downside. So, as long as price stays below the trend line...
EUR/USD staged a recovery from 1.16 level over the last 2 weeks and reach 1.1830 but the recovery appears to be running out of steam. Currently, I see a bearish flag (almost) on the daily chart. A strong break below the lower TL of the bearish flag would indicate that the recovery has ended. Selling the rallies remains the most preferred approach to trade...
Driven by US dollar weakness, GBP/USD spiked up at the end of Friday's trading session. At the moment the price is probing the resistance of the rising price channel. So, there could be a pullback soon. Besides, brexit deal deadlock will also impact the Pound negatively. So, if there is bearish price action at the channel resistance, then it would be a...
US dollar weakness and a better market sentiment driven by stimulus hopes lifted risky assets like AUD at the end of last week's trading session. However, with rising Coronavirus cases in Europe the economic recovery may not happen as quickly as expected. The market sentiment may turn negative very soon and that will put pressure on AUD. Technically, AUD/USD...
Gold prices have rallied quite strong over the last couple of weeks. This is expected as I mentioned two weeks ago that price would hit 1920. At that time, Gold was trading at 1850 level. The recovery has also been helped by a weak US Dollar. However, things may change quite soon. Gold is facing some technical resistance at the 1930-1940 level. So, it is...
Dear friends, in my previous AUD/USD analysis, I told you about buying at 0.7040 and targeting 0.7190 as TP on the pullback move. As you can see, price hit the TP last week. Currently, AUD/USD has settled below a key moving average on the 4-Hour chart. So, it is quite likely that the downtrend will continue this week. I would be looking to sell the rallies in AUD/USD.
GBP/USD's current price action looks a bit confusing. The Pound is vulnerable to news related to UK-EU brexit negotiations. However, there's a possibility that GBP/USD may drop to the 1.28 level due to any negative brexit developments. That being said, keep in mind that GBP/USD has settled above a crucial moving average in the 4-hour chart. So, if you are...
Dear friends, in my previous Gold analysis, I told you to buy at 1850 and target the 1910 level as TP. As you can see, Gold reached 1910 on Friday and our TP was hit ( Idea attached below) Currently, I am looking at a possible short opportunity in Gold. I will be waiting to see if Gold reaches the 1930-1950 area. If bearish price action develops at that level,...
Dear traders, previous set-ups in EUR/USD worked perfectly( Buying at 1.1620 and then selling again at the channel TOP). Buy Idea - Sell Idea - Currently, it looks like the downtrend will continue this week and price will reach the 1.16 level again. So, my plan is to sell the rallies in EUR/USD.
Dear friends, in my previous EURUSD analysis, I told you about buying it at 1.1620 level and then target mid 1.1700s as TP. ( idea attached below) Currently EUR/USD is facing some resistance. So, my plan is to sell EUR/USD between 1.1750 -1.1770 depending on Bearish Price action. My targets would be 1.1700 and 1.1600.
Dear friends, as you can see from the chart, EUR/USD is inside a descending Price channel. Price has recently bounced back from the channel support. If the bulls can maintain their hold on this pair, it is quite possible that EUR/USD will reach 1.1700 and even 1.1790, which happens to be the channel top. My preferred strategy is to buy the dips and target...
Bears are unable to break the 1.2680 level. So, there could be some temporary pullback towards 1.29. If bulls can keep the price above 1.29, then further recovery can be expected