AUD/USD out remains neutral. Despite the pullback from 0.7050 3-4 weeks ago, bears have not been able to pull the price down. Bulls to have failed to break the resistance. Thus, the outlooks remains neutral at this point.
That being said, AUDUSD is in the weekly resistance area. So, it is not a good area to buy or sell. Bulls must wait for a clear break of the...
GBP/USD pulled back from the Supply Area with a bearish pinbar candlestick formation in the daily chart. However, it was followed with a bullish hammer candlestick on Friday.
Due to this the outlook remains neutral.
I am looking at the 1.2450 key level. If bears break this key level, then we can expect a continuation of the downtrend. So, sellers must wait for a...
Gold is still in a strong uptrend. In my opinion, Gold has a big possibility of reaching the 1800 level. As the uptrend is still intact, the preferred trading plan is to wait for a pullback and then buy.
To keep the risk very low, buying near 1755 region is preferred if we can get a pullback.
EUR/USD is stuck in a small range for many weeks now. Whenever a particular pair is stuck in a range, trading becomes a little difficult. However, in my opinion, the path of least resistance is still to the downside. This is because EUR/USD is has been rejected the the resistance level and bulls were unable to break it.
So, the best way to trade EUR/USD is to sell...
Weak USD has led to a rally in NZD/USD and it has reached the resistance level. However, I expect the price to drop very soon. I will be putting sell in NZD/USD between 0.6510 to 0.66 area with Stop losses above the weekly resistance at 0.67.
I am looking at the 0.63 area as the first target for the sells.
GBP/USD has rallied to the Supply zone yesterday but found some sellers at that level. So, we are seeing a pullback now.
However, for the downtrend to accelerate, GBP/USD must break the 1.2450 area clearly.
I will be looking for new sell entries if GBP/USD breaks the 1.2450 area and I will be looking at 1.2250 as a probable target for the sell trades.
Once again the EUR/USD Bulls have failed to hold on to their gains. As I have stated multiple times in my previous analyses, the outlook for EUR/USD remains tilted to the downside. Selling EUR/USD on every rise is a solid plan.
In the next few days, I expect bears to gain strength and push the price towards the 1.10 level.
AUDJPY is in a trend reversal plus consolidation phase for almost a month now. However, I expect the price to make a quick bearish move very soon. Currently, the price action shows bears are gaining strength to accelerate the downtrend.
Possible Sell Signal:
Entry : 74.15-74.60
CHF/JPY rallied to the resistance area once again but bulls failed to break it. So, there's a good chance for CHFJPY bears to show up and drop the price to the 112 level. I am currently short on this pair and expecting to see a drop to 112 level very soon.
EURAUD is moving back and forth within this range. So, right now, buyers can buy at this Support Level and Target the resistance level as TP area.
Possible buy Signal:
Don't forget to use proper risk management for this trade.
USD/CAD appears to have bottomed out. Currently, the bulls are waiting to break the 1.37 key area. There must some event like a risk-off situation in the market that will trigger the Bulls to break this area strongly.
Either way, price actions suggests that Bulls will break this area sooner or later.
So, the best way to trade USD/CAD is to start buying the dips...
Ever since the 1.25 support broke in GBPUSD it has been a good sell. In my prior GBP/USD ideas, I advocated selling GBPUSD on every pullback.
GBPUSD has also broken the 1.2330 level and price has settled firmly below it.
So, the best way to trade GBP/USD...
EUR/USD tried to rally yesterday but the bulls failed again. That further strengthens my long-term plan to keep selling the pullbacks in EUR/USD.
I expect price to reach 1.1060 over the course of the next few days and if the bulls can't defend 1.1060 then a drop to 1.08 is also possible.
So, the best way to trade EUR/USD is to sell it when price gets closer to...
NZD/USD appears to be in a trend reversal phase but bears don't have enough momentum so far. That being said, I can definitely see the bulls stepping away slowly. Bears just need a little momentum to break the 0.64 area clearly and then we can expect a bearish move to 0.6270.
I have described a sell set-up in the chart. Please take a look!
AUD/USD is currently in a trend reversal phase. Currently the price is in a very important area. If this line is broken by the bears, then I expect more downtrend in AUDUSD upto 0.6670.
Since I have a bearish bias on this pair, I will be watching for a break of this line before putting new sell trades.
Dear traders, ever since GBPUSD retested the broken support last Tuesday , I advocated selling GBPUSD in my previous ideas(check below). That trade has reached my initial target of 1.2330 and more than 195 Pips have been booked so far.
So, what's the current situation in GBPUSD?
Well, bears are still strong and I expect the downtrend to continue but the current...
Gold is in a strong uptrend and as per my analysis, Gold will break 1800 very soon. This is reason why I have been saying about buying Gold on dips in most of my prior analysis. Geopolitical tensions and poor economic outlook will likely be Bullish for Gold over the next few weeks.
So, the best plan to trade Gold is to buy Gold on Pullback.
Sellers must be...
Price action analysis shows that bears are strong and EUR/USD may keep moving lower over the course of the next few days.
If price breaks through the Bearish Flag, 1.1080 will be the next target for the bears.
Possible Trade Signal
Sell Entry : 1.1220-1.1248
Stop Loss: 1.1274
Take Profit: 1.11
The above signal will be valid only if price action supports a...