GBPUSD is currently recovering after dropping to multi-month lows last week.
The recovery in prices can continue to happen as the week progresses.
The next level to consider would be 1.30 if the buyers can successfully take the price
I would be looking to buy the dips in GBPUSD and target levels like 1.30 and then 1.32
After last week's sell-off in Gold, price appears to be recovering now.
Last week's sell-off was primarily driven by a strong USD.
However, USD appears to be losing some strength and that has led to a
recovery in the price of Gold.
At this current rate, it seems like Gold will go back above 1900 and even 1920
EURUSD is currently pulling back after a sharp downtrend.
The broken support level at 1.1750-1.1770 region will offer the first resistance. I am expecting price to be rejected at this level.
It will be a good level to enter fresh sells and target the 1.1550 level as TP.
EURUSD has reached the channel support level. As long as the channel support remains unbroken, buy entries at 1.1780-1.1800 with SL below the support level and TP at 1.20 will be valid.
On the other hand, if the price breaks out strongly from the support level, it will indicate that the trend has shifted from bullish to bearish.
Over the last few weeks, EURCAD has pulled back from the double top. Looking at the chart it looks like, EURCAD is all set to resume the uptrend once again. Initial target should be at 1.5580.
If price breaks 1.56 level, then 1.58 can also be a possible target.
EURUSD is approaching the previous high from where a small pullback can take place.
Selling between 1.1940-1.1970 with a small SL above 1.1985 could be a possibility if bearish price action happens.
If the pullback happens, 1.1860 could be a possible target for the sellers.
NZDUSD has reached a strong resistance level. So, it is likely that there could be a little pullback towards 0.66 very soon.
Selling between 0.6726 to 0.6780 with SL above 0.6820 and TP at 0.65 could be a good trading plan.
Look for bearish price action in the resistance level and then sell. It will be a low risk sell trade.
GBPUSD is approaching a key resistance level near 1.3500. Over the last few weeks, GBPUSD is on a bullish trend thanks to a very weak US Dollar.
However, after reaching the 1.3350-1.3500 resistance level, GBPUSD may do a deep pullback towards 1.27.
Watch for bearish price action in the level that I have highlighted in my chart and then look for some good sell entries.
EURUSD is consolidating between 1.1700 and 1.1950 for almost a month now. Overall, EURUSD is still in bullish territory. A breakout in either direction could happen very soon.
Aggressive traders can try to sell EURUSD at the previous top near 1.1965 provided there are signs of rejection at the resistance level.
However, if the 1.1965 level breaks strongly then...
EURUSD is facing some resistance at the 100H EMA. If price doesn't break the 1.1850 level, then it is likely that the downtrend will resume.
EURUSD may drop to 1.1750 and even 1.1710 if the downtrend begins again.
Look at the area that I have highlighted in the chart. This area is important to determine the future movement of this pair.
Watch the 1915-1920 support level in Gold. If this support level remains unbroken then Gold may rally back to the 2000 level once again.
Climbing above the 1955 would be a very positive sign for the buyers.
Make sure there is some bullish price action before you decide to buy.
In my previous AUDUSD idea, I told you to sell at 0.7263 and target the 0.7150 area as TP ( idea links attached below). As you can see, price dropped exactly like I had predicted and reached the 0.7150 level.
Currently price is at the bottom of the...
In my previous GBPUSD idea, I told you to sell at the 1.3250 area with 1.3100 as the TP( idea attached below). As you can see, price dropped to the level I indicated in my chart.
Currently, GBPUSD is at the lower Trend Line of the Rising channel. It is also above the 100-period...