MarcellusLUX

MarcellusLUX

Bearish candlesticks have formed in the 4-hour chart in GBP/USD at the top of the channel. So, I am expecting a continuation of the downtrend in GBP/USD. Traders can sell GBPUSD@1.3855-1.3875 with SL above 1.39 and TP at 1.3765

MarcellusLUX

In my Gold analysis yesterday, I mentioned that breaking the 1815 level will lead to more uptrend. Although I considered that scenario less likely, US Dollar weakness across the board has led to a breakout in XAUUSD. Either way, the next key level is now at 1860 and with the current momentum, it seems quite possible that Gold bulls will take the price to 1860 by...

MarcellusLUX

Hello traders, I have recommended buying the dips in EUR/USD since the start of the week and if you bought below 1.18, I believe you are in for a very good buy trade.(Previous chart attached below) As you can see, EUR/USD has rebounded from the strong support zone and as long as price stays above the support level, we can expect a continuation in uptrend towards...

MarcellusLUX

AUD/USD appears to be bottoming out and we might see a strong uptrend in the coming weeks. My preferred strategy is to buy the dips in AUD/USD. I recommend buying any dips in AUD/USD between 0.7430-0.7465 with SL below 0.74 and initial TP at 0.7560. Long term traders can target the 0.78 area as TP

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EUR/GBP has formed a bullish candlestick in the daily chart in the support level. I am expecting a big uptrend in the coming weeks in EURGBP. I recommend buying the dips between 0.8470-0.8510 with SL below 0.8420 and initial TP at 0.8630. If you are a long-term swing trader, you can target the 0.8850 area once price breaks out of the 100 day EMA level.

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Bitcoin price action is not looking good and it seems like the 30K support level is about to break. If the 30K support level gives away then we can expect a big drop in bitcoin. I am expecting price to reach 18K very soon probably within the next 2 months and eventually below 10K within the next 7-8 months. This is a follow up to my prediction to short bitcoin...

MarcellusLUX

EUR/USD is currently approaching a support level from where we can see a strong bullish impulse to the upside. Although the support level is at 1.1720, I would start buying the dips starting now with small lot sizes. I recommend traders to buy EUR/USD between 1.1715-1.1770 with SL below 1.1680. TPs can be placed at 1.1880 and 1.2015 respectively.

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Gold is stuck in a consolidation phase between 1798 and 1815 for more than a week now. However, the consolidation phase might be ending soon. The primary scenario as per my opinion is that the 1815 area will continue to offer resistance and Gold will finally drop below the 1780 level with a strong bearish impulse. On the other hand, the less likely scenario is...

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USD/JPY fell quite heavily last week. Since then, there has been a moderate pullback. Currently, price has retested the broken trend line. If USDJPY, doesn't manage to break above the broken trend line convincingly, then there is a chance for a drop back to 109 level. I would recommend selling USDJPY@110.50-110.70 with SL above 111 and TP at 109.20

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Gold is struggling to break above the 1818 resistance level . This level is important from a technical point of view because the 100 day EMA resides at this level. So, if the bulls continue to struggle at this area, there is a risk of a decline in Gold prices over the next couple of weeks. If bearish price action continues at this 100day EMA level, I would...

MarcellusLUX

EUR/USD has rebounded from the support TL on Friday. As long as price is above the support line, I recommend buying the dips. Besides, there is plenty of support near the 1.1710 which may push the price towards 1.2150 again. So, I would be looking to buy EUR/USD between 1.1810-1.1835 with SL below 1.1770 and TP at 1.1950

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AUD/USD has rebounded from the channel support on Friday. I would recommend traders to buy the dips in AUD/USD. Possible entry would be between 0.7445-0.7460 with SL below 0.74 and TP at 0.7570.

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GBP/JPY has failed to clear the dynamic resistance on the 4H chart. I would be looking to sell the rallies in GBP/JPY as long as the resistance holds. Possible entry would be between 153.90-153.20 with SL above 153.60 and initial TP at 151.40.

MarcellusLUX

Hello traders, in my previous EUR/USD idea, I recommended you to buy EURUSD at 1.1825. If you followed, you made some good money. (Previous idea attached below for your reference) Based on the bullish price action in the weekly chart, I would recommend traders to buy the dips in EUR/USD. If price dips to the lower 1.18 levels this week, I would be looking to...

MarcellusLUX

Gold is struggling to break above the 1818 resistance level. This level is important from a technical point of view because the 100 day EMA resides at this level. So, if the bulls continue to struggle at this area, there is a risk of a decline in Gold prices over the next couple of weeks. If bearish price action continues at this 100day EMA level, I would...

MarcellusLUX

Dear traders, in my previous idea, I mentioned about selling USDJPY at 111.50. Previous idea attached below for your reference Currently, USD/JPY still has more room to fall. I recommend traders to sell the rallies in USD/JPY and target the 109 level as target 1.

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NZD/USD has formed a strong bullish candlestick at the support level on the daily chart. If the support holds, NZD/USD may continue the uptrend till at least 0.7110 level. So, watch out for dips and buy if any such opportunity arises. Initial target can be set at 0.7110 and if 0.71 breaks, 0.73 will be on the cards.

MarcellusLUX

Hello friends, in my weekend analysis, I pointed out at the bullish reversal candlestick in EUR/USD and recommended buying it. As you can see, EUR/USD has continued to rise up and currently it is close to the 1.19 level. So, if you are holding a buy from the 1.1850 level or below you can continue to be in your buy trade. For traders who are looking to buy...