Gold is making a very similar correction movement that it did in a few months ago. After the strong upward movement gold usually stays in a correction. However, now it is ending if it imitates the previous correction. It might be early to enter any trade before it shows a clear direction.
The gold is in strong consolidation zone for the past 2 months. Now if it is a breakout from triangle, it is possible to start a strong upward movement and continue the trend. It is also possible to see that strong resistance is broken.
Australian dollar formed some bearish tunnel. One more bearish movement looks possible.
Fundamentally, the employment change in Australia expected to be bearish.
Simple high Risk and reward potential trade.
Hello, I would like you guys just see how clean this 61.8 hit from the all-time high of nearly 20000. The golden ratio is just golden.
Now I say this strong move was just the first wave of the next big wave coming. Bitcoin is currently on correction and I purpose much bigger correction. Fundamentally, no big news is coming later. As this triangle break out to the...
Big movement is coming on Oil. This weekly triangle pattern explains big movement is coming.
I see this is a good time to open a long term buy position on OIL.
Long from 55
Stop-loss over 51
Take profit 71
In an hour, ECB is going to make a statement on the interest rate and also economic slowdown. The market is expecting the dovish statement and EURUSD dropped. Right now it is around the support zone area of 1.1122
I personally plan to enter with very good risk/reward ration of 6.60 because it is a high-risk trade. Market makers already shorted euro and if ECB...
Crude OIL is right now in a really important area. Fundamentally, Opec is currently made a statement of cutting the supply side, but the world economic slowdown is suspected by some. Due to that oil price is not really spiking up in price.
Technically, OIl is right now really important and interesting price area. $57.60 per barrel was previously strong support...
Since the last FOMC meeting, Gold FOREXCOM:XAUUSD is in 53$ long range. Currently trading between the technical blue resistance and support lines. As long as the Fed keeps the tone of cutting the interest rate, it is quite obvious for gold to spike up. But, from the technical point of view, the price needs correction to start the long run.
My buy orders will be...
The rate cut always has an adverse effect on currencies strength. On May 07, the market was predicting a 0.25% rate cut from Reserve Bank of Australia. But the bank was not easy to cut its interest rate, but due to its tone of cutting it by next month price might fall. The dovish statement started a strong downtrend of 200+ pips. It consolidates over ten days...
Actually, GBP is just too cheap right now almost in every pair. EURGBP will fall from this price or 60 pips later. Technically that is where I place my short position. Fundamentally, we should wait for the new prime minister of the UK.
The pound is actually on the very oversold area. Also, Fomc stated rate cut will come, GBPUSD will go up. If only the new prime minister from the UK say something positive things toward Brexit, the cable can start the strong move. Right now, it is hard to see the supporting yellow line or 1.25 area to break. From the technical side of view, the cable needs to...
Due to the FOMC statement and geopolitical tensions, Gold is in a strong uptrend. But wherever there is a healthy trend there needs to be a pullback. I see the green area will resist gold price to pull back. I will wait for a decent pullback to enter long.