GBPNZD seems to be finding some support in the 2.04 area. So, if today's market is being driven by risk-off flows, GBPNZD can continue to go up from its current level of 2.0470.
Potential profit levels could be 2.06, 2.08 and 2.10
As indicated in the chart, EURAUD is finding resistance at the channel TOP. So, far the price action indicates the formation of a TOP and possibility of EURUAD to drop in the coming weeks.
Low-risk sell entries can be taken at 1.7020-1.7120 with SL above 1.7300. TPs can be placed at 1.6770, 1.6540 and 1.6230
Similar to EURUSD, GBPUSD's rise last week was quite strange. I expected a pullback to the 1.2950 but GBPUSD reached even higher breaking the 100D EMA and also the BEARISH channel in the process.
However, this rise is due to US Dollar sell-off and not GBP strength which makes it possible that the entire rally will fade in the weeks to come.
So, if I see GBPUSD...
XAUUSD has once again printed a long-legged Doji Candlestick in the daily chart which indicates confusion among the market participants.
At this point, it is possible to see some sort of minor pullback in Gold.
This is definitely NOT a recommendation to SELL.
However, if Gold continues to struggle around the 1680 area, sellers can consider adding a couple of...
After a series of successful trades and set-ups in EURUSD, last week's unprecedented EURUSD rise triggered the SLs of my EURUSD shorts.
However, I feel this is too early to think that EURUSD has reversed.
Just 3 weeks ago, EURUSD broke through the 1.0880 support and went as low as 1.0760 area. At that time, I saw various analysts and experts say how Euro could...
In all my previous analysis(see attached idea links below), I mentioned about selling the minor rallies in GBPUSD.
At this point, GBPUSD has not only broken through the 100D EMA but also consolidated below it which is quite bearish.
From the fundamental point of view, post-Brexit EU-UK talks will determine the direction of GBPUSD in the near term.
EURUSD appears to have reversed from the channel TOP and I already have sold multiple lots at 1.1181(see the previous idea attached below for long term analysis and entries)
However, the current price action indicates that EURUSD may drop even lower after some consolidation.
So, it gives traders the opportunity to think about executing sell trades around the...
Previous analysis on XAUUSD was spot on and reached exactly 1650 from the entry around 1575 that I had mentioned(idea attached below).
However, currently, it looks like Gold might drop towards the 1608 area before rallying any further.
Note that this is not a recommendation to buy or sell. So traders need to exercise caution before placing any trades.
I have started trading USDCHF after a long time because I feel the market has been sold off to a point where it could potentially reverse.
As indicated in the chart, USDCHF is currently in a historical demand zone + Trend Line Support.
Besides, the recent rate cuts by the Fed will provide some sort of support to the stock market thereby reducing the demand for...
I expected EURUSD to pull back a little this week before rallying further. However, there was no pullback and the rally got even stronger.
In the process, EURUSD reached my Final Buy targets(1.1150) from February(idea links attached below).
As you can see in the chart, EURUSD is now at the top of the Price Channel from where it could potentially reverse.
In my previous analysis on USDJPY, I recommended you to sell between 112-112.30 area. If you followed that, you have already bagged a massive profit of 400+pips(see idea link attached below)
Through this idea, I would like to tell you that there could be a minor/decent pullback in the coming days provided we see some form of bounce back in the stock...
A series of risk-off events and equity sell-off has lead to a crash in Oil Prices.
However, price is gradually approaching a support area from where we could see a decent bounce to the upside.
The area between 40-45 is where ta bounce can happen. So, traders can look for long entries provided they see the stock market bouncing back.
Before starting the analysis, I would like to say that February has been a very profitable month and more than 2000 pips were made(Check idea links below to see the trades) on various set-ups. So, don't forget to follow me and like my ideas if they help you
Gold has pulled back strongly from its multi-year highs.
If we look at the chart, the last 4H candle looks...
We have been buying EURUSD for the last two weeks from 1.0780 and the results have been great(check idea link attached below)
However, last Friday, it appears the 100D EMA at 1.1035 region has offered some resistance to EURUSD's recent rally.
So, this week, I will be watching whether this area that I have highlighted in my chart offers some resistance or not. If...
Similar to other risk assets like NZD and CAD, the Australian Dollar too took a beating this week. The reason being a massive sell-off in the stock markets and investors fleeing to safe havens.
However, I was quite surprised by the way AUDUSD closed yesterday. Price dropped to decade lows of 0.6430 and within minutes, it started coming back up and recovered more...
Before the start of this week, I mentioned in my GBPJPY idea that 144.50 is a selling area with targets at 141.30. (read attached idea below to see it)
As you can see, GBJPY not only dropped to my target at 141.30 but also broke out of the bearish flag and went as low as 137.50.
This is a huge 700 pips drop fueled by weak demand for GBP and very strong demand...