Fueled by the recovery in global financial markets, AUDUSD is gaining some Bullish momentum. However, it seems to have run into some sort of resistance near the previous highs above 0.62. There is also a bearish divergence on the hourly chart. So, let's see if AUDUSD heads lower and if it does, the levels mentioned in the chart will come into the picture. But,...
Recovery in the global markets has reduced the demand for safe-haven Japanese Yen(JPY) while simultaneously, lending support to risk assets like AUD and NZD. Thus, we have seen a recovery in NZDJPY as well. But, how long will it last? In my opinion, the stock market hasn't bottomed out yet. There could be another leg down soon when the threat of an economic...
In my previous analysis, I mentioned about selling at 1.2320 level and we got 150 pips profit from that trade. Once again, I have sold GBPUSD today at 1.2338 with SL at 1.2470 and TP at 1.20. Let's see how it goes.
GBBJPY is moving in a range as indicated in the chart. Selling at the resistance near 134.40 is working well so far. Yesterday's sell at 134.12 already gave us 120 pips profit. I am planning on selling again and making 100+ pips profit.
I mentioned this scenario in my weekend analysis and yesterday, XAUUSD finally broke out of the Bullish Flag. There's a high chance that the bullish trend may continue till 1700. So, sellers need to be careful here and wait for a confirmation before selling. Buyers probably should avoid buying now as it will be akin to chasing the price. The risk/reward ratio...
EURUSD has broken the Descending Channel and the 100H EMA as well. But, this is too early to confirm a change in trend. If the price falls below the 1.0860 level, bears will be back in action. However, a sustained break above the 100 hour EMA might indicate a change of trend in the near term. Either way, traders must wait and maintain a cautious approach now...
GBPUSD seems to have reversed from the 1.2470 area. There were multiple rejections at this level on the daily chart and the bulls couldn't breach this level. Currently, the price has dropped below the all-important 100 hour EMA, which is a short-term indicator of the trend. So, we are back to the Bearish Territory. As per my analysis, GBPUSD might continue...
In the 1H chart, I have finally got two sell signals and I am sharing those with you. First Sell Entry @ 1.0830, SL:1.0910 , TP1:1.0770, TP2:1.0710 Second Sell Limit@1.0870, SL:1.0930, TP1:1.0800,TP2:1.0750
GBJPY has reversed from a level of Supply in the hourly time frame. I expect GBJPY to drop to 132.50 soon. Traders can place sell entries near the Supply Level with TP at the demand level.
USDCAD is ranging in this simple structure and if the bottom TL holds, another leg up towards 1.4250 is possible. However, the range is getting narrow and price call break the range soon.
0.5900 could be good sell entry for NZDUSD based on the hourly chart with SL placed above the resistance area
AUDUSD sellers had a great time last week. It gave us multiple opportunities to sell and make 100+ pips gain on each sell trade. Right now, AUDUSD might be in the process of forming another Bearish Pattern on the hourly chart. When that happens, sellers will strike again and target the 0.5870 level.
Hello friends, I suppose you can see this simple Bullish Flag pattern in the Gold chart. So, trading this pattern is quite simple. Ideally, the price should break out from the Flag and rally strongly almost equal to the length of the Flag Pole. However, I believe XAUUSD is facing some resistance at the Upper Trend Line(TL) of the Bullish Flag. So, there's a...
EURUSD is bearish and it is below the key resistances and moving averages on all the important TFs. So, I would advise you not to buy EURUSD. I have been selling EURUSD when the price was at 1.11(Check out the ideas at the bottom). However, the drop is not over yet. In my opinion, EURUSD will eventually drop to the previous low at 1.0640 and possibly even...
After a strong rally from 1461 Level, XAUUSD is now consolidating inside the Bullish Flag as I have indicated in the chart. Based on the price action, Buy trades placed when price touches the lower TL of the Bullish Flag could be a good idea. So, I am looking to go long at 1574-1584 with SL below 1550. TPs will be placed at 1610 and 1650 respectively.
GBPUSD is consolidating in the hourly chart for the last 5 to 6 days. However, it seems like the consolidation phase is about to end very soon. Since the trend has been up for the last two weeks, placing Buy trades when the price drops seem like a better choice. I am looking at the confluence of 100H EMA + Lower TL Support as a possible buy entry. ...
Tired of reading posts like " I have got my analysis correct 8 times in a row/ 600 pips gain!"? Well, this might be a much-needed change. In this post, let us take a look at how we can sell EURUSD and gain some blue pips. Since EURUSD is in a downtrend, we are looking to sell and increase the chances of a profitable trade by more than 76%. However, we can just...
GBPJPY is consolidating at a crucial area from where it could go either way. If 133.30 holds, then the bullish trend could continue and 134.50 could be visited again On the other hand if 133 breaks strongly, then a drop to 132 and 131 is quite likely.