Mihai_Iacob

Mihai_Iacob P

Two days ago I've written that EurUsd could be ready to reverse to the upside, but for confirmation, we need a break of 1.0750 zone resistance. The pair took a dive under 1.07 at first, but this proved to be a false break and now is trading again in this important level o resistance. The recent rally from around 1.0630 is very strong and indicates a bottom is...

Mihai_Iacob P

In my previous published idea, I said that Gold could reverse and rise to 1980 resistance. XauUsd acted by the technical analysis book this time and after an initial break above the falling trend line, dropped to confirm the new support and reverse back up. Now the price is exactly in 1980 resistance and seems determined to break above. NFP could provide the...

Mihai_Iacob P

Yesterday I draw attention to a potential double top for UsdCad. Indeed, after an anemic and short-lived rally to 1.3584, the pair broke under the neckline's support and dropped like a stone after. At the time of writing the price is 1.3440 and in the eventuality of a correction, this should be used as a selling opportunity. In conclusion, I remain strongly...

Mihai_Iacob P Updated 

After a false break under support yesterday, Gold has reversed strongly rising around 300 pips in a very short period of time. Now the price is consolidating these gains and a new leg up could follow. Yesterday's high coincides with the falling trend line and a break here could be followed by gains toward 1980 resistance

Mihai_Iacob P

Since the beginning of May touch of 1.33 support, UsdCad has started to rise and reached 1.37 zone resistance. Here we have the pair tapped twice and reverse with the second drop also breaking under the short-term rising trend line. This could suggest a double top could be in progress and a drop under 1.3550 would bring confirmation. I'm bearish as long as...

Mihai_Iacob P Updated 

Since the recent high near 1.27, GbpUsd has dropped almost 400 pips. However, the drop is corrective in nature and is drawing a falling wedge pattern on smaller time frames. Confirmation for reversal comes with a daily close back above 1.24

Mihai_Iacob P

Of the 3 coins analyzed today, Litecoin I like best. As we can see from the daily posted chart, after the top above 100, the break under the rising wedge's support, and the drop in support, LtcUsd has started to rise again. This rise is very constructive and we have had higher lows since March with the last low being a Pin Bar. Resistance is now the zone between...

Mihai_Iacob P

Similar to Bitcoin, also in Eth case we have a double tap under 1800 and reversal but, unlike BtcUsd, here we have a break above the falling trend line that started back in the middle of April. That being said, I'm bullish EthUsd and I expect gains in the future. A drop and daily close under 1830 would negate this scenario.

Mihai_Iacob P

After it found strong support under 26k, tapping twice in this zone, Bitcoin started a leg up and reached a high at 28500. Currently, the price is consolidating these gains and has two evident levels for traders to watch. The old resistance, now support at 27500, with a clear drop under exposing the recent low and keeping BTC under the falling trend line and under...

Mihai_Iacob P

Yesterday, EurUsd spiked under 1.07 and, after a low at 1.0674, the pair reversed and managed to break back above the falling trend line started at the beginning of the month (we also have a long tailed bullish engulfing on our daily chart). This spike and reversal could very well suggest a bottom in place and EurUsd could be ready for more gains. Confirmation for...

Mihai_Iacob P

Yesterday, Gold has traded in a tight range between 1940 and 1950 (ingore the spike from the chart, it wasn't real, at least at the brokers with which I trade) and at the time I'm writing the short term 1940 is broken. As explain yesterday, we are in a very important support zone, and in a case of a genuine break, Gold could drop pretty hard. Considering price...

Mihai_Iacob P

Since the recent high at 2067, Gold has traded to the downside with some anemic rallies that were sold every time. Now, after more than 1000 pips drop, Gold is trading exactly in trend line support and it is very important for bulls to keep this level intact. The next level of resistance is last week's high above 1980, but for bulls to gain the upper hand on the...

Mihai_Iacob P

Last week was a volatile one for Gold and on Thursday the price broke under important 1970 support, just to aggressively reverse back above on Friday. Although the short-term trend is bearish, both long and medium-term trends remain strongly bullish and this break could very well be a false one. From a short-term perspective, the price is still under the falling...

Mihai_Iacob P

Since the recent low at 158 at the end of March, GbpJpy has risen almost 1500 pips to a high above 172. However, starting with May, the pair has entered a range trading phase with resistance at 172.50 and support at 168. At this moment GbpJpy is trading near resistance and is in a consolidation. Short-term support lies at 171.50 and a break under this support...

Mihai_Iacob P

After reaching my target at the 1.27 zone, GbpUsd started to drop and found support at the horizontal 1.2350 level. The drop is not impulsive and, in my opinion, is just a correction to the overall bullish trend. A reversal to the upside could be next for GbpUsd and traders could look to buy dips slightly 1.24 figure. The target could be the recent high at 1.2680...

Mihai_Iacob P

Losses are part of this business. People do not react well to losses. Badly handled losses in trading can trigger bigger losses. Furthermore, these have the dangerous potential of wiping out entire accounts. If you want to make it as a trader you need to have a solid psychological approach to accept and handle losses. Lots of internet articles are suggesting that...

Mihai_Iacob P

A few days ago I've written that EurJpy could resume its up move. Indeed, after the confirmation of 146.50 as strong support, the pair started to rise and reached 149.50. At this moment bulls look tired and in need of a correction, and this could provide short-term traders the opportunity to trade on the sell side. As long as 149.50 is intact there are high...

Mihai_Iacob P

Like its bigger brother, Gold, Silver also dropped hard these days. However, looking at price action this week we can see that the drop lacks much momentum and is drawing a falling wedge pattern on our short-term charts. This could be an indication of a reversal and the 24.50 resistance zone could be the bulls' target. A new low would negate this scenario