About meStarted my self-taught trading journey in the FX market since 2009, I have started my career in the FX market as a chart analyst, a trainer, a coach, a speaker, as well as a fund manager and trader.
The gold continues to break lower as US stocks market continued to climb steadily.
The neckline of an HnS was successfully broken creating the case for further bearish movement.
And looking at the weekly chart, the price has also closed below a range at the top with a significantly bearish candle.
In the first trading day of the week, we can expect further...
EURUSD took an unexpectedly bearish turn as a lack of demand failed to maintain the price higher and a weak Euro data caused a snapped in the shared currency.
The price broke 2 higher lows in one wave thus making a strong case for further bearish movement to follow.
Due to Easter Day, volatility will be low and the price may continue to retrace higher.
We can wait...
The dollar has made a comeback last week as a lack of sellers after breaking below a range and a strong retail sales caused the dollar to rise.
Based on the current movement, the dollar is most likely to retest the 23-months supply zone at 97.6.
Volatility will be low on the first trading day throughout Asia and Euro session due to East Monday which is most...
It's Good Friday and most major banks are closed for trading including London and Germany.
Since there won't be much volatility, the market has been making retracement throughout both Asia and Euro session.
So I just wanna revisit the last 2 pairs which are by far proceeding as per plan.
Gold: Retracement towards 1284 - 1287 supply zone to sell.
EURUSD plunged through the bottom of its current range a well as a rising trendline as weak euro data caused euro to weaken.
It was also probably due to the lack of demand to support the price after a second retest of the breakout level.
Based on the current movement, the seller is clearly in control of the trend and will most likely fall further.
During the U.S....
Gold has finally broken below the neckline of an HnS which has been forming since the beginning of the year.
This is a clear sign of a bearish trend but we always avoid chasing after the trend whenever a breakout happens.
Instead, wait for the price to pull back and retest the breakout level (neckline) to see if there's any more demand left and if there's more...
USDCAD rebounded strongly yesterday after strong demand appeared at the bottom of a 1-month symmetrical triangle.
The price closed above the middle of the whole ranging structure signalling that the price may climb further.
The price is likely to climb higher with some remaining demand and will retest the top of the symmetrical triangle where the price will face...
EURUSD has reached the bottom at 1.1188 and fell into a range.
The range was broken above last week and the price fell into another minor range while sitting on to of the previous range.
On the last trading day, the range was broken once again and therefore we will most likely experience another short-term range.
As long as the price is seated on top of the range,...
The gold has climbed for the first 3 trading days of last week which it found resistance at a falling trendline.
The resistance has translated into a very bearish movement and broke through the bottom of a rising channel in the H4 chart.
On the last trading day, gold fell into a range and there's one hour where buyers did try to push up the price but failed...
EURUSD started off last week with a strong bullish candle that broke above a 1-week range.
On the 3rd day, it retested the range but buyers are strong enough to hold off the sellers thus leaving a long lower shadow.
on the 4th day, the price attempts to fall again but it was obviously one without commitment.
The buyers came in strong as sellers are worn off and...
After more than a week of ranging near the top, the dollar has broken below the range.
On the first day of the breakout, the price pulled back strongly the following day back into the supply zone.
However, on the last trading day last week, the dollar fell through the floor, showing that the sellers are now in control.
Therefore in this week, we are clearly...
USDCHF has stubbornly climbed for the past 3 consecutive days.
Yesterday has however shown that price has met with strong resistance within the supply zone.
It is important to note that the price is considered to be very high as it is getting very close to a 27-month supply zone.
It is also obvious that the buying strength is not particularly strong as compared to...
USDCAD has been ranging within a 1-month symmetrical triangle but has breached the bottom since the beginning of this week
The price has made significant retracement and we are seeing a bearish Gartley in progression.
As the dollar has turned bearish while the oil price continues to climb, USDCAD will no doubt stands a high chance for a strong bearish trend.
USDCHF diverges from the dollar during the euro session and continues to climb within a rising wedge when the dollar starts to fall again.
If we compare both dollar and USDCHF in the D1 chart, we will see that both are trading within an ascending triangle and that sellers are more in control then the buyers.
The dollar has already started to fall while USDCHF is...
After the dollar has climbed for the past 3 weeks, the price has started to drop from a high since the beginning of this trading week.
EURUSD has managed to close above a 1-week range yesterday and that signals for the price to climb further with the dollar starting to drop.
Therefore, we can look for intraday buying opportunity should the price pulls back, which...
Rise and shine, and the gold climb and break above the range.
In that process, an inside bar was formed in the H1 chart and then broken upwards.
It seems that the gold has chosen to run one more wave of bulls.
Wait for the price to pull back to 1293 - 1290 to look for a buying opportunity.
Gold has ranged throughout last week and still maintained above the demand zone at 1282 but also below 1300.
The bearish bat pattern has already taken effect as the gold did fall, and at the same time, a head and shoulder was formed too.
Since the price failed an attempt to break the neckline, it leaves a possibility for the price to pull back and climb into the...
EURUSD has turned out as expected except for the fact that the volatility of the range is smaller.
The price did not show any strong rebound near the 21-month demand zone which could be just a delay.
Therefore, in this week we expect EURUSD to rebound and climb towards the supply zone at 1.133.
However, due to the uncertainty that the dollar has presented, we...