As predicted in my last week's idea, EUR/USD went up almost 300 pips from the 0.99 support level.
However, the rally fizzled out rather quickly. At the moment, the price action looks weak and it
seems like the institutional buyers are not stepping in yet.
So, it seems like the price will drop to 0.99 again. I will be staying away from buying it at the moment.
Gold has reached a very critical level. On one hand, it is the long-term support level of 1685.
However, the current price action looks weak and it seems buyers are not stepping in yet.
So, at the present, I would be staying away from Gold until there is a bullish or bearish impulse.
That being said, since price is at a crucial support level, there could be a...
As predicted in my previous idea GBP/USD reach my target at 1.17 ( almost 300 pips profit from our buy at 1.1410 level)
However, a strong US dollar has once again pushed GBP/USD lower. In my opinion, GBP/USD could slide back to the
1.14 level once again.
If that happens, I would looking to go long. 1.1410-1.1460 remains my preferred buy zone. That being said, I...
Based on broad-based US Dollar strength, USD/CAD has reached the 1.32 resistance area once again where some
amount of bearish price action has happened.
Based on that, my plan is to sell USDCAD@1.3190-1.3220 with a moderately wide stop loss above the resistance level.
However, the sellers need to be careful because the chance of a price breakout above the...
Similar to the other currencies, the Aussie dollar too got hammered against the US Dollar. However, it seems to have
found some footing in the demand level that I have highlighted in my chart.
As my trading strategy relies heavily on buying at supports, I would be looking to go long in AUD/USD@0.6710-0.6730
with a moderately placed SL below the support level...
Following the release of the CPI data from the US, the US dollar found some renewed strength which pushed most
of the other currencies lower versus the US Dollar. The commodity currencies took a severe hit with NZD being pushed
below the 0.6 level.
However, the price seems to have found some support at this level and there could be a rally to 0.61 very soon....
For the past week, I have been stressing on the importance of the 0.99 support level in Euro and why Euro will regain parity again. As you can see, EURUSD is above 1.0 as predicted. So, has EUR/USD finally reversed? In my opinion, today's ECB meeting will be the deal maker for the Euro as traders are waiting for some clarity.
That being said, I think EUR/USD will...
As predicted in my previous ideas, 1.14 historical low for GBP/USD led to a strong bounce of over 140 pips yesterday. So, well done to those who bought the low. Now, if you look at the daily chart, you can see the formation of a bullish reversal candlestick at the 1.14 key level.
This level also happens to converge with the lower trend line of the price channel....
As predicted in my previous ideas, USD/CAD has reversed after hitting the top of the price channel and it has given us sellers almost 95+ pips profit from the top. Now, based on the price action in daily chart, it seems USD/CAD reversal is very likely to happen and price will drop even lower.
There is a very good chance that USD/CAD will drop to the lower TL of...
A bullish candlestick has formed in the daily chart at a very important demand level. This could be a very significant development for AUD/USD
traders as price may have started reversing.
Buyers can buy as long as price doesn't break the demand zone that I have highlighted in my chart. If the reversal is confirmed then AUD/USD could reach 0.70 level in the next...
GBP/JPY has failed to break the local resistance at 166.31 and currently, price has pulled back quite strongly from the key level.
We could see more fall in GBP/JPY if the current trend persists. I would be looking to sell if price reaches the resistance level
and target the 162.70 level as my TP
On the back of a very weak Japanese Yen(JPY), EUR/JPY has strongly rallied to the 142.20 resistance level.
However, there could be a very strong pullback on the cards if EUR/JPY respects this resistance.
As long as price doesn't break the resistance, sell entries would have very good potential in my opinion.
I would be looking to sell EUR/JPY@143.80-144.20, SL...
As predicted in my yesterday's idea, EUR/USD has made a false break of the 0.99 support level.
Price has not only climbed above the 0.99 level but it has also made a bullish reversal candlestick
pattern on the daily chart.
However, the reversal patterns must be taken with a grain of salt as there are plenty of fundamental issues
that is weakening the Euro right...
As I had predicted in my previous Gold ideas, XAUUSD has reversed quite strongly after hitting the long-term support level at 1688 region. So far, the buyers who bought the low have made a very good profit.
However, Gold is at a very crucial level now. Price must stay above 1712 level which is the 100 hour moving average for further continuation of the uptrend....
As I predicted in the previous idea, GBP/USD has rebounded quite strongly from the 1.1450 level.
We have two consecutive bullish candles in the daily chart and so far it seems like GBP/USD has
However, I do not recommend any fresh buying now. But, in case price dips to the 1.15 level again,
traders can consider buying. Eventually in the next few weeks,...
GBP/JPY has reached the minor resistance level at 163.75 from where we could see a potential pullback.
However, that depends if we see a bearish price action in the resistance level that I have highlighted in my chart.
If we can see some bearish candlestick in this level, then GBP/JPY could slide back to 162 level. On the other hand, if
price breaks through the...
EUR/USD dropped below the 0.99 level today prompting many traders to think that
the support has been broken finally. However, at the start of the European trading session price has
rebounded quite strongly above 0.99 again.
So, we might have witnessed a false breakout. That being said, EUR/USD is not out of the woods yet
and buyers must exercise caution....
As I predicted in my previous Gold ideas, XAU/USD has dropped to the support zone and rebounded from
quite strongly from that level. The area of 1685-1690 has been highlighted many times by me in my previous ideas.
So, at the moment, it seems Gold will continue to climb upwards towards 1750 and even 1800 in the coming weeks.
If we get any dips towards the 1690...