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...
Hello Traders! In my previous ideas, I predicted that EURUSD will probably BOUNCE from 1.1109 area and that is exactly what happened last week.
Through this idea, I would like to draw your attention towards a POTENTIAL SELL SET-UP that can come to fruition this week.
As you can see EURUSD is approaching THREE STRONG RESISTANCES:
1) TOP of the BEARISH CHANNEL.
Hello Traders! If you follow my ideas, you already know that I have been advising traders to BUY XAUUSD on DIPS at 1272-1275. Through this idea, I will try to present a good trading plan for XAUUSD with complete ENTRIES, TPs and SLs. So, I would like you to read the full analysis as I have attached the daily charts as well.
In the weekly chart, we can see that...
Yesterday, I bought EURJPY at 122.21 and also advised my followers/friends to do so. Right now we are holding the trades for 123.30 as final TP.
The support area managed to stop the fall and we also have a nice pinbar candle which indicates that we can see more bullish price action till 123.50.
If you have been following me, you already know that in my previous EURUSD chart, I advised you to wait for proper levels before buying/Selling and I indicated with arrows about the possible price movement.
I indicated the 1.1110 area in my chart as possible support and as you can see, price bounced up exactly from that area and went up by 70 pips.
So, at this...
Hello Traders! In my previous Gold Idea, I advised you to buy a support zone of 1273-1275. As you can see, price climbed up more than 120 pips from the BUY ZONE.
Now, whether XAUUSD will continue towards 1300 needs to be seen. I still believe in BUYING DIPS with targets of 1300 and beyond.
The daily range in EURUSD has become so small that trading EURUSD is very difficult. Hence, the best way to trade this pair is wait for a good level before BUYING/SELLING.
EURUSD is still trading in a BEARISH CHANNEL. So the logical approach to trade this pair is to :
1) BUY at the BOTTOM of the CHANNEL around 1.1040-1.0160 with SL below 1.1011. TP at 1.1250...
AUDUSD is consolidating at the SUPPORT ZONE on the weekly chart. So, it presents a great BUY opportunity with very HIGH REWARD and LOW RISK.
Traders can look for BUY ENTRIES at 0.0.6850-0.6870 with SL below 0.6720.
TPs can be set at 0.6950, 0.7040, 0.7150 and 0.7300 respectively.
After breaking through the Trendline Resistance last week, XAUUSD is now at a Pullback stage.
So, traders can look for BUY entries at the SUPPORT ZONE(Blue rectangle) between 1266-1272 with TP at 1290 and 1302 respectively.
SL should be placed below 1264.
Will be looking at the PRICE ACTION near support. There are two SUPPORTS, one at 1.3380 and the other at 1.3338.
I will be looking for BUYs if price reaches these SUPPORT LEVELS and target 1.3520 as TP.
After dropping for almost TWO WEEKS, it would be interesting to see if GBJPY manages to Stage a comeback. Price has hit a Major DEMAND AREA on the Weekly Chart.
We need a couple of Constructive BREXIT related News and Improved RISK APPETITE this week to push GBPJPY higher.
So, in case of POSITIVE DEVELOPMENTS, as mentioned above, Swing Traders can definitely BUY...
Hello Traders! XAUUSD broke out of a DESCENDING TRENDLINE(Orange Trendline), which is a good sign for GOLD BULLS. However, it dropped back below the trendline almost immediately which makes me wonder if it was a ''FAKE BREAKOUT".
That being said, Gold seems to have found some SUPPORT IN THE LONG-TERM BULLISH TRENDLINE(Green Line) which increases the probability of...
Hello Traders! In my previous analysis, I mentioned about SELLING THE RALLIES. Since then, the price has dropped more than 100 pips.
However, the movement in EURUSD has been VERY SLOW since the last few months.
EURUSD is still trading in a BEARISH CHANNEL and the best approach to trade this pair is to :
1) BUY at the BOTTOM of the CHANNEL around 1.1040-1.0160...
Hello Traders, GBPUSD has dropped more than 450 pips in the last couple of weeks and surprisingly, it has managed to TAKE OUT all the SUPPORTS on its way down. Breakdown of negotiations between Labour and Tories and Prime Minister May's resignation plan in June has played its part to pull the Pound down.
However, market participants were already aware of both...
GBPUSD is now falling for 9 straight trading days. At this moment, It is at the Long-term bullish trend line. Besides, it has also hit the bottom of the newly created channel(blue channel).
So, it would be interesting to see if you see the formation of any bullish candlesticks here from where traders can long.
I am personally looking to BUY here at 1.2830 and...
GBPJPY is approaching two MAJOR SUPPORT LEVELS, the first being at the 141.01-141.15 area which has seen some decent INSTITUTIONAL BUYING in the past.
The Second Support being at the 139.80 area which is a STRONG SUPPORT as well.
It's expected that GBPJPY will bounce from one of these LEVELS and go towards the RESISTANCE at 143.80.
So, traders can look for BUY at...
GBPUSD is approaching TrendLine Support where it could Bounce up soon.
Depending on BULLISH PRICE ACTION in lower time frames, Traders can look for BUY ENTRIES between 1.2880-1.2910 with SL below 1.2850.
TPs can be set at 1.2985 and 1.3040