MarcellusLUX

MarcellusLUX

Overview - Gold's bullish run from 1678 double bottom is continuing so far. Currently, Gold is approaching a key level which might open up attractive trading opportunities for both the buyers and sellers. Let us take a look at the possible scenarios and trade entries Analysis - From the chart you can see that 1750 level is a key resistance level which has...

MarcellusLUX

Overview - Quite surprisingly, GBP/USD has managed to break through the 1.3840 resistance level. However, the 1.40 area is still a resistance level and let us analyze if selling at that level is plausible. Analysis - From the chart, you can see that there is not much resistance between the current price of 1.3912 and the next resistance level 1.40. There has...

MarcellusLUX

Overview - From the lows of 1.17, EUR/USD has staged a modest recovery. However, the bullish impulse doesn't seem very convincing. So, let us analyze if there's a case for short entries here Analysis - From the chart, you can see that EUR/USD has inched above the 100 hour moving average. This indicates that in the smaller time frame, the trend is slightly up....

MarcellusLUX

Overview - GBP/JPY is on a relentless rally since October'2020. A moderate correction took place in March this year but price has broken through the 153 level now. Most of the retail traders are selling GBP/JPY but price is in a continuous uptrend. But, it looks like the time for sellers is finally here. Analysis - As you can see from the chart, 156 level is...

MarcellusLUX

Overview - Gold has been trying to stabilize around the 1680 level for about a month now. Currently, the support appears to be holding well but the bulls have a long way to go. Analysis - From the chart, you can see that the 1678 support level has been intact so far and Gold has rallied from that level. But, it will face a confluence of resistance at the 1745...

MarcellusLUX

Overview - GBP/USD have managed to stage a modest recovery after dropping to 1.3670 level a week ago. However, price has reached a level of resistance at present and price is unable to break the resistance. Analysis - As you can from the chart, GBP/USD has reversed from the 1.3850 resistance level . So, it is possible that this resistance level can stop the...

MarcellusLUX

Overview - EUR/USD has been in a downward trajectory for almost 3 months now starting January'2021. Recently, price plummeted to 1.17 level. The recovery has been short-lived so far. Analysis - As you can see from the chart, price is clearly below the 100 day moving average, which indicates the trend is tilted towards the downside. Current recovery might be...

MarcellusLUX

Overview - GBP/USD have managed to stage a modest recovery after dropping to 1.3670 level a week ago. However, price has reached a level of resistance at present. Analysis - As you can from the chart, GBP/USD has reached the 1.3850 resistance level. So, it is possible that this resistance level can stop the bulls and price can drop once again. So, look out...

MarcellusLUX

Overview - EUR/USD has been in a downward trajectory for almost 3 months now starting January'2021. Recently, price plummeted to 1.17 level. However, there has been a modest recovery over the last 2 days owing to USD weakness. Analysis - As you can see from the chart, price is clearly below the 100 day moving average, which indicates the trend is tilted...

MarcellusLUX

Overview - GBP/USD is in a relentless uptrend and currently price is very close to the 3 year old highs set at 1.4350 level. Once it touches this historical resistance, GBP/USD may correct lower significantly. Analysis - As price is approaching a strong resistance area as I have marked in my chart, there is a big probability of a reversal here. GBP/USD is...

MarcellusLUX

Overview - GBP/JPY is in a continuous uptrend since the beginning of February 2020. However, price looks a bit overextended now and it seems like the bids are starting to dry up Analysis - As you can see in the hourly chart, GBP/JPY is unable to break out of the 1.48.20 level. So, it is likely that there will be a pullback soon after which the uptrend can...

MarcellusLUX

Overview - For almost two weeks now, EUR/USD is unable to overcome the 1.2150 resistance level. There has been multiple rejections at this level. Analysis - Based on the 4-hour chart, you can see that EUR/USD bulls are unable to break the 1.2150 region despite multiple attempts. So, it is likely that EUR/USD may drop again towards 1.1950 or lower. ...

MarcellusLUX

Overview - GBP/USD is in a continuous uptrend since the beginning of this month. However, price has been rejected at the 1.4050 level today. So, there's a possibility of a pullback. Analysis - Looking at the current price movement on the hourly chart, it is quite possible that GBP/USD will pullback to the 1.3920 level. The bids have started drying up. Hence, it...

MarcellusLUX

EUR/USD may drop to 1.1950 as it seems like a short-term trend reversal has happened. Looking to execute sell orders and target 1.1950

MarcellusLUX

GBP/USD looks like it is forming a short-term reversal pattern. Price has a chance of dropping to 1.3750. So, looking for sell entries at current market price or if price touches 1.39

MarcellusLUX

Dear Traders, GBPUSD is moving in a broad range for now. Although, selling the rallies at the top of the range seems like a good choice.

MarcellusLUX

NZDJPY is still showing weakness. Current sentiment in the financial markets makes it very difficult for NZD to appreciate against the safe-haven Japanese Yen. So, I expect NZDJPY to drop to 61 again.

MarcellusLUX Updated 

AUDJPY is currently consolidating in the hourly timeframe after a big drop. Current price action suggests that AUDJPY may continue to fall and reach 63.00, 62.10 and 60 as well.