MarcellusLUX

MarcellusLUX

As I mentioned in my previous idea, AUD/USD dropped from the resistance level. Great job if you did that sell from the resistance! Currently, price action still looks weak and it seems like bears will manage their hold on this pair for now. So, in addition to the old sell, you can look for new sells between 0.7750-.0.7780 with SL above the resistance level and...

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As mentioned yesterday, GBP/USD's rally has stopped at the 1.40 resistance level and a bearish candlestick has formed in the critical area. Does that indicate that there is more drop ahead? Well, so far, there has not been any meaningful recovery today. So, sellers can continue to hold their sells for 1.38 initial target. New sells can be executed between...

MarcellusLUX

As I predicted yesterday, the EUR/USD's rally has finally come to a halt near the 1.2080 resistance area. Yesterday, a bearish pinbar candlestick has formed on the daily chart which is a significant development. If the bears can continue their hold on this pair, a drop to 1.1850 will be increasingly possible over the next few days. My previous signal: Sell...

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The 100 day EMA at 1788 has been troubling the Gold bulls. Price has not broken out of the elliptical area that I have marked in the chart. A small sell at 1779-1785 with SL above 1795 and TP at 1750 could be a good option in case price continues to show bearishness in the dynamic resistance area

MarcellusLUX

Overview - USD/CHF has been in a state of steady decline over the past two weeks. However, it seems, a reversal might be on the way. Analysis - From the chart, you can see that USD/CHF has bounced from the 100 day EMA. A bullish candle has formed at that level. Today's daily candle will be important. If we have another bullish candle today then USD/CHF will...

MarcellusLUX

Overview - EUR/JPY has been unable to break the resistance level for the last two weeks but bears have not been able to capitalize on it yet. However, yesterday's drop seems encouraging for the bears. Analysis - From the chart, you can see that, yesterday's daily candle was a big bearish candle with a long wick at the top. So, it is quite likely that price will...

MarcellusLUX

EUR/USD is going up relentlessly. Price is up by almost 400 pips without any significant correction over the past 3 weeks. Currently, price has reached the upper trend line of the pattern in the 4 hour chart. If bearish price action happens in the red area that I have marked in the chart, then there's a good chance for a drop to the 1.1900 level. Possible...

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From the daily chart, we can see that a rejection candlestick has formed at the 100 day EMA level. This bearish daily candle makes things a little difficult for the bulls. It shows that bulls lack enough firepower to push the price beyond 1800. Hence, a correction to 1750 level can take place.

MarcellusLUX

GBP/USD is in a strong uptrend. Currently, it has reached the 1.40 level, where multiple rejections took place in the past. It would be interesting to see if this level manages to stop the current rally. If a couple of bearish candles form in this area then it would be an attractive sell trade in my opinion. At present, waiting for the price action to guide us.

MarcellusLUX

My previous buy signal for AUD/USD has reached the final 0.78 target today. More than 200 pips profit for people who followed. Cheers to the traders who took the signal! Currently, the uptrend is still strong. However, 0.7840-0.7860 might offer some resistance. If bearish price action takes place, I will be looking to sell in the resistance level with TP at 0.77

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The recent dip in USDCHF is a buy opportunity as the uptrend is still intact. Price is above the 100 day moving average and the current dip may be merely a pullback and not a reversal. Hence, I would recommend using this dip to buy USDCHF@0.9150-0.9190 with SL below 0.91 and TP at 0.94

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GBP/USD is approaching the 1.39 resistance level which might open up some sell opportunities if price shows bearish PA. GBP/USD has been going up with small bullish daily candles over the last few days. However, 1.39 might offer some resistance to this uptrend. If 1.39 level offers resistance, then we can sell there with 1.37 as the TP.

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EUR/USD is on a strong uptrend since 1.17 and current price is just under 1.20 level. However, things have slowed down a bit and the daily ranges are getting smaller. Currently, price is in a resistance level. We got a bearish candle at the resistance followed by a bullish candle. So, no trade signal can be deduced from this price action. The best approach is to...

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Gold has broken the 1757 resistance level, which I was writing about consistently in the previous week. Currently, there's no significant resistance except the 100 day MA level at 1780 which might not be a strong hurdle for the bulls. That being said, a moderate correction and a retest of the 1757 level can still take place this week. If a retest happens and...

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AUD/USD has recovered significantly well from the 0.7570 levels. However, the bulls are not out of the woods yet. Price is currently approaching a resistance level where it may face rejection. If bearish price action happens in the resistance level, then we may think about selling AUD/USD in the resistance zone i.e. between 0.7750-0.7840 with 0.76 as TP.

MarcellusLUX

Overview - GBP/JPY was in a correction and consolidation phase for the last couple of weeks. However, on Friday, a big bullish candlestick was printed on the daily chart. Can this be the start of a new uptrend? Let's analyze Analysis - From the chart, you can see that price is still above the 100 day moving average, which indicates the uptrend has not been...

MarcellusLUX

Overview - EUR/USD's recovery from 1.17 has been quite impressive.Price has rallied nearly 300 pips from the lows. However, it has now reached a PRZ which might give the sellers a chance. Analysis - From the chart, you can see that the area just below 1.20 is a crucial reversal level which has multiple price rejections in the past. However, for the sellers to...

MarcellusLUX

Overview - Gold is consolidating in the resistance area for quite sometime now. Right now, the odds for sellers and buyers are even. Analysis - If you look at the chart, you can see that price is moving in a narrow range in the resistance level. So, the sellers have not been able to dominate the price action here. Right now, the chances for both buyers and...