Hello friends, recent uptrend in GBPUSD looks very weak. The daily candle indicates a reversal and a drop to 1.22 area maybe be possible early next week.
In my opinion, GBPUSD can also drop to 1.19 again next month. The recent uptrend is due to USD dollar pullback and not GBP strength.
So, I prefer to sell the rallies.
Hello friends, I have been selling GBPJPY for the last 2-3 weeks now since 135.50 area. Although the movement has been very slow. I am trying to sell, take profit and then re-enter the trade on a Pullback.
This is my chart from yesterday where I expected price to drop from the 133.40 area.
Currently, we are 100 pips lower...
Hello friends, the daily candles in AUDJPY are getting smaller indicating that the bulls might have run out of steam.
I will expect risk aversion to hit the market very soon once the market participants focus on the gloomy economic outlook of the world.
So, when that happens, currencies like AUD will take a hit and Japanese Yen will gain strength. So, AUDJPY...
Hello friends, AUDUSD has been rallying strongly after taking a nosedive in March. However, this relief rally could be coming to an end very soon.
AUDUSD faces strong resistance at the 100D EMA and also the previous high around 0.6450.
In my opinion, the area between 0.64 to 0.6520 could be the Potential Reversal Zone(PRZ) for AUDUSD.
Hello friends, USDJPY has been consolidating in the same area for the last 7-8 days. However, price action indicates weakness in USDJPY.
If the lower TL breaks, UJ could drop to 105.30 level.
A drop in the global indices as the economic outlooks worsens due to the COVID-19 pandemic could trigger a risk-off situation which will probably lead to a decline in...
Hello friends, GBPUSD has been consolidating below the 100 EMA on the 4H chart for the last few days.
It has also retested the broken Support and formed a Rejection candle.
In my opinion, GBPUSD has the potential to drop to 1.2240 and even 1.2158 this week.
If price is unable to break the Broken Support-turned-Resistance level, then Traders can look for...
Hello friends, EURUSD rallied a bit on Friday and at the end of the NY session, it broke the 100H EMA which was quite surprising.
However, there's a good chance that EURUSD could face some resistance here. And if price doesn't break the area I have highlighted in my chart, then EURUSD could drop to 1.0750 and even lower.
Traders can look to sell if this...
I hope you remember my previous analysis in GBPJPY about selling between 133.45-133.65. That trade would have helped you gain 100+ pips if you followed. This is the previous chart. Have a look at this.
Now, I expect GBPJPY to continue the recent downtrend. The price is getting...
Hello friends, in my previous analysis, I marked the 1720-1760 area in my chart with an ellipse and indicated it as a potential sell zone.
As you have noticed, Gold was rejected near the previous high once again.
So, it may pullback to the 1650 level or even below 1600.
In my opinion, Gold may go as high as 2000 but for that to happen, it needs to pull back...
Hello friends, I have been publishing Sell ideas on GBPUSD for the last two. If you remember, in my previous idea, I mentioned about GBPUSD should break the important level of 1.2410 and then we can confirm the downtrend. Here's the previous chart.
So, GBPUSD has already...
Hello friends, if you have been following my ideas on EURUSD, you will already recognize this chart. Well, as I was expecting, EURUSD finally dropped to the Support Level around 1.0770 and also managed to bounce up from the support level jumping more than 80...
In my weekend analysis, I published this chart on GBPJPY and as you can see, the lower TL finally broke. So, I expect a continuation in downtrend.
However, I believe the best area to re-enter Sell is at 133.45-133.65 area with a target of 132.
Hello friends, publishing an idea on Bitcoin after two weeks. My previous idea was about selling at 7300 at the Descending Trendline and Upper TL of the Rising wedge.
Fast forward two weeks and Bitcoin has already broken out of the rising wedge.
It also appears to have created a Top. So, the direction in the next few weeks will likely be downwards. I don't...
In my weekend analysis, I pointed out that the Weekly Pinbar candlestick pattern indicates that GBPUSD Bulls are getting weak. That set-up is still valid.
However, in the 4H Chart, downtrend lacks momentum.
A break below the 4H support will confirm the...
Hello friends, in my weekend analysis, I mentioned my plan to sell between 1.0875-1.0920 with SL above 1.0950 and TP at 1.0770.
Although EURUSD didn't drop to 1.0770, price definitely reversed lower after touching this zone yesterday.
In my opinion, EURUSD will head towards 1.0770 this weeks unless the elliptical zone that I have highlighted in my chart breaks...
XAUUSD is showing weakness in the daily chart. There is scope for a drop below 1560. Currently, the price is consolidating between 1688 and 1705. Once the consolidation is over, a drop is likely.
In the hourly chart two, Gold is trading below the important 100 hour EMA, which indicates short and medium-term weakness.
Sell Trades executed at the zone I have...
Similar to AUDUSD, NZD also managed to pull of a remarkable recovery within a span of few weeks. However, it's not out of trouble. In the daily chart, it's way below the 100D EMA despite the recent gains which indicate the trend is still bearish.
So, the best area to sell NZDUSD, in my opinion, is 0.6100-0.6240.
0.62 was a very strongly Support previous which...
Hello friends, many of you might have considered selling AUDUSD after the drop last week. And, the idea of selling is not wrong at all.
AUDUSD has gained a whopping 17% +(more than 900 pips) after last month's drop to 0.55. This recovery is due to the relief rally in global indices.
However, the recent recovery looks unsustainable. So, when the markets start...