NZD/USD bulls have failed to break the 0.66 level once again. However, the bears couldn't take advantage of this. All though the chances of a drop towards 0.64 is increasing, waiting for a clear break of the 0.6550 level is important for the sellers. How NZD/USD will move this week depends a lot on the state of the global equities. So, keep an eye on the global...
Bases on the daily candles, it appears GBP/USD bulls are running into some resistance here. For two consecutive days, GBP/USD bulls have failed to clear the 1.2660 level. So, buyers must be careful at this point. If the 1.2660 level remains unbroken, there is a chance that GBP/USD may slide back to the 1.25 level. That being said, the trend remains neutral. So,...
EUR/USD appears to be moving in a range. After a drop to the 1.1260 level, bulls were able to prevent any further decline in price. If EUR/USD bulls can defend the key 1.1250 level, another short-term rally to 1.1370 is very much possible. The best way to trade would be to buy at this support level and take profit at the 1.1350 to 1.1370 resistance area
GBP/USD uptrend is likely to continue unless the sellers are able to take out the 1.2565 support level. The best way to trade this would be to buy close to the support level and then target the 1.27 area as a potential TP.
So far, bulls have been unable to break the 114.50 resistance area. If this level remains unbroken, then there is a possibility that the bears might push the price lower to the 112 area. Selling the rallies is preferable as long as the resistance level remains unbroken.
AUD/JPY couldn't break the 75 key resistance level and a pullback from that level is currently in progress. If bears continue to dominate the price action, I expect a drop to 72.80 level within the next few days. The best strategy to trade AUD/JPY is to sell AUD/JPY when price gets close to the resistance level.
NZD/USD Bulls have failed to break the 0.6580 Resistance level and price has pulled back strongly from that level. If the bulls are unable to take that resistance out, the path of least resistance will be to the downside towards 0.64. Eventually, I expect NZD/USD to slide back towards the 0.60 level as geopolitical risks and worsening global economic conditions...
GBP/USD Bulls have failed to break the key level 1.2520 so far. Repeated failure at this level will probably lead to decline in price. However, for the buyers, 1.2520 must be broken clearly for uptrend to resume. My bias for GBP/USD is tilted to the downside. However, I am waiting for some more signs before entering a short trade.
EUR/USD has reversed from the small resistance around 1.1350 area. In my previous idea, I advocated selling EUR/USD as soon as price gets close to the resistance level As per plan, I executed a sell when EUR/USD went close to the resistance area. Now, the initial target for the bears should be 1.12. Once 1.12 level breaks clearly, further downtrend can be...
AUD/USD out remains neutral. Despite the pullback from 0.7050 3-4 weeks ago, bears have not been able to pull the price down. Bulls to have failed to break the resistance. Thus, the outlooks remains neutral at this point. That being said, AUDUSD is in the weekly resistance area. So, it is not a good area to buy or sell. Bulls must wait for a clear break of the...
GBP/USD pulled back from the Supply Area with a bearish pinbar candlestick formation in the daily chart. However, it was followed with a bullish hammer candlestick on Friday. Due to this the outlook remains neutral. I am looking at the 1.2450 key level. If bears break this key level, then we can expect a continuation of the downtrend. So, sellers must wait for a...
Gold is still in a strong uptrend. In my opinion, Gold has a big possibility of reaching the 1800 level. As the uptrend is still intact, the preferred trading plan is to wait for a pullback and then buy. To keep the risk very low, buying near 1755 region is preferred if we can get a pullback.
EUR/USD is stuck in a small range for many weeks now. Whenever a particular pair is stuck in a range, trading becomes a little difficult. However, in my opinion, the path of least resistance is still to the downside. This is because EUR/USD is has been rejected the the resistance level and bulls were unable to break it. So, the best way to trade EUR/USD is to sell...
Weak USD has led to a rally in NZD/USD and it has reached the resistance level. However, I expect the price to drop very soon. I will be putting sell in NZD/USD between 0.6510 to 0.66 area with Stop losses above the weekly resistance at 0.67. I am looking at the 0.63 area as the first target for the sells.
GBP/USD has rallied to the Supply zone yesterday but found some sellers at that level. So, we are seeing a pullback now. However, for the downtrend to accelerate, GBP/USD must break the 1.2450 area clearly. I will be looking for new sell entries if GBP/USD breaks the 1.2450 area and I will be looking at 1.2250 as a probable target for the sell trades.
Once again the EUR/USD Bulls have failed to hold on to their gains. As I have stated multiple times in my previous analyses, the outlook for EUR/USD remains tilted to the downside. Selling EUR/USD on every rise is a solid plan. In the next few days, I expect bears to gain strength and push the price towards the 1.10 level.
AUDJPY is in a trend reversal plus consolidation phase for almost a month now. However, I expect the price to make a quick bearish move very soon. Currently, the price action shows bears are gaining strength to accelerate the downtrend. Possible Sell Signal: Entry : 74.15-74.60 SL :75.10 TP :70.00
CHF/JPY rallied to the resistance area once again but bulls failed to break it. So, there's a good chance for CHFJPY bears to show up and drop the price to the 112 level. I am currently short on this pair and expecting to see a drop to 112 level very soon.