MarcellusLUX

MarcellusLUX

Hello traders, in my yesterday's GBP/USD analysis, I mentioned about price falling to 1.21 or lower. Keep in mind that GBP/USD was trading 1.2205 then. So, anyone who sold based on my recommendation definitely made at least a 100 pips profit. Currently, GBP/USD has rebounded from the demand zone that I had already highlighted in yesterday's chart. So, my...

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Hello traders, we are approaching a key level in Gold. Price is now within the moderate supply zone. The area between 1945-1952 would be the one to watch out for. In case of bearish price action in this level, traders can consider selling with 1880 as the target. Potential entry would be between 1945 to 1952. Keep in mind that if price breaks strongly through...

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Hello traders, with nearly 70% of the retail traders long in GBP/USD, I can definitely say that many of you are waiting for a strong uptrend in GBP/USD. However, 1.2224 level is a key hurdle for GBP/USD. Bulls need to break this level for the uptrend to carry on. That being said, I currently have no open positions in GBP/USD. My trading plan is to buy GBP/USD...

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Hello traders, sometimes, it is necessary to analyze the lower time frames. So, in this idea, we are going to take a look at the hourly chart of GBP/JPY. As you can see in the chart, 182.80 is minor resistance level on the hourly chart. So far, we have seen 3 price rejections at this level. So, if there is a formation of bearish candlesticks in this level once...

MarcellusLUX

Hello traders, NZD/USD is currently just above the support level at 0.5872. As long as the support level holds, there is a good chance of NZD/USD reaching 0.6050. I have already bought at 0.5880 level and I am currently holding my buy trade. My recommendation is to buy the dips in NZDUSD if price reaches the 0.5870-0.5880 level again.

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Hello traders, in my previous Gold idea, I advised you to buy Gold in the 1810-1820 zone with 1920 as target. If you followed my idea, you have definitely made over 1100 pips profit. (previous idea linked below) Currently, Gold is the top of a price channel as highlighted in my chart. If price breaks through the upper trend line of this channel, expect a...

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Hello traders, in my previous EUR/USD idea, I recommended buying EU@1.0460 level. If you followed that, you made over 170 pips profit as EU reached 1.0640 level. Currently, EUR/USD is in the vicinity of the 1.0550 level. The current dip seems like a buying opportunity to me. In fact, I already bought EU@1.0495 on Friday. I recommend buying the dips in...

MarcellusLUX

Hello traders, GBP/USD is back in the demand zone from where we can see a bullish move to 1.25 level. However, I am not rushing into buys yet. I am waiting to see if GBP/USD drops to 1.2050 level which would be a very attractive level to buy GBP/USD. Keep in mind that if the zone highlighted in the chart breaks, then the next key level for GBP/USD is 1.18.

MarcellusLUX

Hello traders, in my previous GBP/JPY Trade idea, I recommended selling GBP/JPY@183. If you followed me, you made over 200 pips. Currently, price is slowly drifting lower. In fact, there is a high chance that GBP/JPY may keep falling towards 178. At present, I do not have any open positions in GBP/JPY. However, if price falls to 178 level, I would consider...

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Hello traders, XAU/USD has dropped significantly for the last couple of weeks. However, things could change pretty soon and we can witness a reversal in Gold. US dollar seems to have peaked for now. In the daily chart, the area around 1810-1820 is an important level. So, if Gold drops to 1810, opening a buy trade in Gold@1810 with SL below 1795 and TP at 1920...

MarcellusLUX Updated 

Hello everyone, GBP/JPY has rallied to the supply level on the 4Hour chart. However, the supply level is not that strong. So, for anyone selling GBP/JPY at this level, make sure you have a stop loss. If the level at 183 holds, we can expect price to fall to 182, 181.25 and even 179.

MarcellusLUX Updated 

Hello traders, there is a potential double top forming in the hourly chart of NZD/USD. If the resistance zone holds, we can expect NZD/USD to fall around 50-60 pips. Potential sell entry would be between 0.6040-0.6050 with SL above the resistance and TP at 0.5975.

MarcellusLUX Updated 

Hello traders, I know most of you have been waiting for EUR/USD to reverse from bullish to bearish. However, for more than 10 weeks now, EUR/USD is a prolonged downtrend and we are seeing lower prices every week. That being said, EUR/USD has climbed back above the crucial psychological level of 1.05. If price breaks the 1.0520 level(hourly moving average) and...

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Hello traders, we are witnessing the formation of multiple rejection candlesticks in USD/CAD in the 4hour chart. 1.3730 level could act as a resistance. If the level holds, selling USD/CAD@1.3710-1.3730 with SL above 1.3780 and TP at 1.3550 is a potential sell trade. The above set-up would be valid only if price doesn't break the region that I have highlighted...

MarcellusLUX Updated 

Hello traders, GBP/USD may reach 1.2270 level soon. We have a bullish impulse candlestick in the 4H timeframe. 📌If price manages to stay above 1.21, the next target would be the 1.2270 level. 📌As per my analysis, US dollar has peaked for the time being and we will see a reversal in GBP/USD. 📌Eventually, my bullish target for GBP/USD is 1.2550 which I expect...

MarcellusLUX Updated 

Hello traders, in my previous ideas in GBP/JPY last month, I recommended selling the rallies in each of my ideas. In fact, my first sell entry was at 185.50 level with target at 178(link to the previous idea attached below). So, whoever followed it has made over 700 pips profit. 📌Currently, GBP/JPY is around the 100-day EMA level which might offer some...

MarcellusLUX

Hello traders, if you followed my yesterday's idea in EUR/USD, you have probably bagged 120 pips profit as I gave a buy call in EUR/USD@1.0490-1.0510. However, we still have another 200-250 pips to go in the next couple of weeks. 📌In the daily chart, EUR/USD has rebounded from a crucial support level. 📌The path of least resistance now is to the upside. Price...

MarcellusLUX

Hello traders, due to US dollar strength especially after the FOMC last week, Gold and other USD pairs have declined strongly. However, the USD bull run might have hit a roadblock. This gives us an opportunity to look for a pullback in XAU/USD. 📌 My focus is on the rectangular area that I have highlighted in my chart. 📌 The level 1860 could trigger the pullback...