The Cable (nickname for GBPUSD), is witnessing a sharp bearish activity since last week due to the unexpected GDP change (-20%). Therefore, we are expecting it to continue this bearish trend for the next week.
However, we have the "U.K. Interest Rate Decision" coming up on Thursday this week, so we need to account also for the possibility of a...
This pair has been moving with a strong upside momentum since the 25th May.
We have witnessed a sharp pullback to the supporting trendline last week, and the pair has bounced aggressively from the trendline.
Furthermore, the pair is currently at a critical decision area, with multiple support and resistance in both directions. The price is getting...
#XAUUSD (#GOLD) 2H:
As we said last week, Gold has been dropping hard (we called it!) since the beginning of June, and we are still expecting more downside on it.
Technically speaking, many support areas have been broken during last week's downside movement. And a bearish trendline has formed, which is supporting the current downside momentum.
For this week, we...
#XAUUSD (#GOLD) 4H:
Gold dropped hard last Tuesday (26th May), breaking a MAJOR 4H trendline that has been supporting its upside momentum since the beginning of May.
The price is now going up in a very convenient way forming the bearish Rising Wedge pattern and doing a perfect re-test of the broken 4H trendline.
Therefore, we are favoring the bearish scenario on...
#AUDUSD 1D & 4H | #Swing
This pair been moving with a strong upside momentum in the past two weeks, forming the well-known "Higher-High & Higher-Low" trend.
We are expecting it to keep pushing higher for the next week.
However, the price is currently is at a decision point. So we will need to wait for confirmation before entering the trade.
As the price is...
#GBPUSD 4H | #Swing trade
The Cable (nickname for GBPUSD) has been in a bearish since March. And we think it might be time for this pair to reverse. So we are bullish on this pair for the next few weeks.
Technically, The Cable has already broken the bearish trendline that has formed in late April, which indicates that a change in trend is about to happen (in the...
#NZDUSD | Swing:
This pair has been flying (200+ pips) in the past week, and we are expecting this bullish trend to continue this week. Therefore, our bias for the NZDUSD is bullish for the next 2-3 weeks (unless a major event takes place and changes our view, we will let you know if this happens)
Moreover, we have two scenarios to play for this pair, as we are...
The market is heading in a bearish trend forming a higher-low to lower-low formation. Last week the market closed at 4H horiantal key level @ 130.8.
Bearish Scenario: If 4H candle closes below 130.8, then we will take shorts half risk and will activate a sell limit in case of pullback @ 130.8 turning previous support level to resistance.
#USDCHF 2H | Short-term
This pair has touched the upside trendline 3 times and bounced from it, which leads us to believe that the upside momentum is still strong.
We can also see that the downside trendline (aka. correction flag) has been broken and retested. Which gives us more reason to think that there will be more upside to come on the USDCHF.
Favoring the bullish scenario.
This pair is now at a decision point. We have two scenarios prepared and ready to execute.
From a fundamental PoV, the increasing OIL prices will soon start to give the CAD currency some strength. Which will drive most CAD pairs up, including this CADJPY pair.
From a technical perspective, the pair is ranging between...
The price has broken up aggressively, and is currently doing a correction.
Technically, the 38.2% Fibonacci level is acting as a support area right now, with the next one being the 50% retracement level (as seen on chart).
Moreover, based on the bullish price action we have seen in the past few days, we are expecting more upside movement on this pair moving...
The pair EURGBP has been in a bearish trend since the 1st of April 2020. By looking at the monthly chart we can immediately notice that there is a strong resistance level that the market rejected in March and April 2020. In March 2020, the market rejected this area and created a 600 PIP wick. When the market rejected this price level in April 2020, we saw 193 PIP...
This pair has formed a double top and started to drop aggressively with big bearish candles. It has also broken a ascending trendline and currently doing a retest.
Additionally, it did also break a Support level and currently is retesting it as a Resistance level. If AUDUSD fails to break back above, then we can expect further downside movement.
Watch the pair...
USDCAD 1M & 1D:
We can clearly see a clear double top rejection formation on the monthy time-frame. Expecting market to continue heading downwards, targets are set on key horizontal levels.
Switching to the lower time-frame, on the 1D, we will wait for a clean candle break of support level @ 1.38778. Afterwards we will activate sell limits to sell the pullback...
#XAUUSD (GOLD) 1D:
On the daily time-frame we can see a clear double top formation rejecting from 1731.77 resistance area. We can also note the the support structure that is formed at the 1682.55 area. (Rejections shown on the chart). Which means, that GOLD is currently consolidating between 1682.55 - 1731.77. We have been in this situation multiple times before...
GBPJPY 1M & 4H:
All key horizontal structure levels are marked out on the 4H time-frame chart. We will use these levels for intra-day trading throughout the week. Wait for rejections before entering sells. Our target is the monthly strong support level @ 129.200.
Fundamentals to look out for this week:
1) UK and Japan Corona News Headlines
2) U.K. Gross...
EURUSD 1M & 4H:
By looking at the monthly chart you can immediately notice the bearish trend-line the market is moving in. The market has been moving in this trend since 1st of June 2018.
Key horizontal levels are marked on the 4H time-frame chart for intra-day trading. Would like to see a slight pullback before the drop to 1.05700.
Fundamentals to watch out...
EURJPY has been heading in bearish trend since the 26th of March 2020, this is represented by the trend-line drawn on the chart. Last Thursday, we saw the market clearly breaking the bearish trend-line heading to the strong structural resistance level of 117.7. Now we can notice that the market is consolidating in a 90 PIP area between 116.8 - 117.7....