It seems like the time for AUDUSD recovery is very near. AUDUSD is now consolidating at the multi-year SUPPORT LEVEL and we could see a rapid rise in this pair soon. Swing traders especially can BUY AUDUSD at 0.6870 area with SL below 0.6800. TPs can be set at 0.7050, 0.7300 and 0.7500 over the next few months.
I believe some kind of positive resolution in the...
We have seen a persistent weakness in GBPUSD for the last 2 months due to Brexit related jitters. I believe markets have priced in a NO DEAL scenario for Brexit which is why GBPUSD is now consolidating at the demand zone.
That being said, any kind of positive development in UK politics will surely push the Pound higher versus its counterparts.
GBPUSD is now at a...
In my previous GOLD idea, I mentioned about SELLING at 1357 which was very profitable and generated more than 250 pips.
In the past few days, XAUUSD is struggling at the multi-year Resistance ZONE(Red area in the chart).
So, traders can look for SELL Entries in 1352-1360 area with SL above 1365. TPs can be set at 1344, 1331 and 1310 respectively.
I believe Gold...
For the last 5 months, trading EURUSD has been very simple. I simply wait for price to either hit the top or bottom of the channel and then trade. In my previous idea I advised traders to SELL at 1.1330-1.1350 and that trade was very profitable too.
Right now, price is at the middle of the channel. So, it would be wise to wait and watch the price action.
Hello Traders, in my previous EURUSD Idea, I advised you to SELL at 1.1335-1.1350. As you can see, that trade was profitable and for me, it is still running.
Based on the last few daily candles, I believe there will be a continuation of the BEARISH TREND. Although there is still a chance for a small bounce at 1.1200.
If you sold above 1.1330, I will advise...
Gold is knocking at a very STRONG RESISTANCE Zone. This resistance zone as held for the last 3 years. So, there is a high probability that Gold can fall from this area.
In the 4H, 1D timeframe, we can see BEARISH DIVERGENCE on the RSI as well.
Hence, traders can look for SELL between 1353-1360 area with SL above 1365.
TPs can be set at 1340, 1331 and 1310 respectively.
In Sunday, I posted about selling Gold at the red resistance area. As you can see, that trade is working great so far with more than 250 pips profit.
Right now, it would be interesting to see if Gold can make a recovery. The green lines are the SUPPORT areas from where Gold can bounce up.
So, if you sold XAUUSD with me, take profit if price starts bouncing from...
In my previous EURUSD idea, I published about selling at 1.1330-1.1350. Currently, that set-up is still valid as price has failed to break Friday's high.
So, traders can look for SELL entries between 1.1325-1.1340 with SL above 1.1370.
TPs can be set at 1.1250 and 1.1180 respectively.
USDJPY is consolidating at the Support area for the last few days. So, it would be interesting to see if USDJPY manages to stage a comeback this week. Like with any other JPY pairs, the main driver is going to be the Global Risk Sentiment. I expect risk sentiment to get a little better this week because of the recent trade deals with Mexico.
Hello Traders, in my previous XAUUSD Ideas, I have advised you to BUY Gold at support near 1275. As you have noticed, that BUY trade went great and we managed to get more than 750pips. Now, I would like to draw your attention to a POSSIBLE SELL SET-UP in Gold.
As you can see XAUUSD has hit a RESISTANCE AREA on the daily chart(light crimson rectangle.)This is an...
Last week, we saw EURUSD rally a bit. In fact, it has actually broken through the 100D EMA and managed to stay above it. So, one might assume that the TREND in EURUSD has now reversed to BULLISH.
However, in the past few months, every single rally has been SOLD OFF. So, it would be too early to assume that EURUSD has reversed.
Hence, it would be wise to watch the...
Hello Traders, in my previous EURUSD idea on May 30,2019, I advised you to buy EURUSD between 1.1100-1.1130. As you can see both that trade gave us more than 150pips profit. Right now, I would like to show you a potential SELL Setup.
As you can see EURUSD is approaching THREE STRONG RESISTANCES:
1) TOP of the BEARISH CHANNEL .
2) PREVIOUS DOUBLE TOP which can...
EURJPY has bounced off the descending TREND LINE along with the formation of a DOJI Candlestick which indicates there could be a recovery in EJ prices near term.
Hence, traders can look for BUY entries as long as price stays above the Trend Line between 121.80-122.10 with SL below the Trend Line. TPs can be set at 122.80 and 123.50 respectively.
GBPUSD is consolidating which indicates we can see some rebound in prices near term. However, there are still chances that the price will reach 1.2480 area.
That being said, swing traders can think about accumulating BUYs at this level. Even short-term traders too can look for buy entries at 1.2610-1.2630 with SL below 1.2695. TPs can be set at 1.2680 and 1.2730
The support zone for XAUUSD remains intact. Hence, Traders can look for BUY entries near 1271 with SL below 1265. TPs can be set at 1285, 1293 and 1302 respectively. Look for BULLISH PRICE ACTION on lower time frames before entry.
EURUSD is approaching support zone from where it can bounce up and reach the Resistance at 1.1230.
So, Traders can look for BUY entries between 1.1100-1.1130 with SL below 1.1085.
TPs can be set at 1.1190 and 1.1230 respectively.
Hello Traders: My previous ideas on GBPUSD didn't work well as price broke all support levels and kept heading lower.
However, at the end of the previous week, we got some nice BULLISH REVERSAL CANDLESTICK FORMATIONS(denoted by the yellow ellipse).
If this reversal holds, we can see GU continue towards 1.2850 and 1.3020.
However, plenty of uncertainties in...
USDJPY is approaching a SUPPORT AREA from where it can BOUNCE HIGHER.
The first SUPPORT is at 109 area and the second SUPPORT lies slightly lower at 108.50.
So, depending on BULLISH PRICE ACTION, Traders can look for BUYs at 108.50-109.10 with SL below 108.40.
TPs can be set at 110.10 and 111 respectively.
A lot depends on the current RISK SENTIMENT in the...