drewbyfx

drewbyfx

Are we seeing a huge bullish flag being printed on Gold/Dollar or are we just seeing a bearish channel? What do you guys think?

drewbyfx

Pound/Dollar has been in an almost 2 week consolidation phase like its inverse pair Dollar/Cad. It broke through a strong resistance zone with a large impulse candle. My bias is we will most likely see this pair gain a little bullish momentum or consolidate around price 1.31070 until Friday and then pullback on NFP day Friday then more continuing bullish momentum....

drewbyfx

After almost 2 weeks of slow horizontal price action on Dollar/Cad we finally got the bearish move that was setting up. I am expecting further bearish momentum. Pound/Dollar just broke a solid resistance and looks bullish which leads me to believe that this is the real move. NFP in 2 days which means we will likely see a pullback on both Dollar/Cad and...

drewbyfx

USDCAD last week had a strong bearish impulse and ended with the start of consolidation/retest. The first day of market opening a retest to strong fib level being the 38.2 and a zone of old support. If this pair breaks the D impulse zone i have a bearish bias until price 1.29160. This is an analysis not a signal. Trade at your own risk.

drewbyfx

After a bullish week 2 weeks ago for gold we saw some consolidation. The market looks like it is starting to make its next move. Everywhere you look throughout the US news you see the fear of a recession. And of course as people become scared of an American economic recession commodities start to trade higher for the most part, especially gold. Keep your eye on...

drewbyfx

After last weeks strong bullish rally the pair pound dollar is facing its first real test of direction. It is respecting the channel at the moment. The retest zone at the 61.8 retrace level is based on old price levels the last time price was at this level in April of 2017. Price will tell us what to do with this pair when the time comes.

drewbyfx Updated 

This downward channel has been printing for around 4 months and is now reaching a point of resistance. After this large downward move we have seen 6 daily candles of consolidation on a large zone of support. If this channel continues a retest to the price of 1.23620 which is also the 61.8% Fibonacci retracement level might be the next significant move. For the...

drewbyfx Updated 

Gold is printing a bullish pennant and is getting ready to continue bullish by the looks of it. On the fundamental side we have, Stocks have been falling a little this morning as well and the trade talks with China being even more on the rocks based on President Trumps tweets. More incentive for people to buy up commodities including ... GOLD. Also gold...

drewbyfx Updated 

Now seeing a touch of the trendline. Further confirmation will be based on price action that is printed.

drewbyfx

EURUSD has seen a break if the old 2019 low any times during may. Now it is time to look for a convincing move. My bias is bearish and it looks like it had been setting up since the beginning of last month but just was not ready to go. Happy Trading!

drewbyfx

Approaching the bottom of a zone we haven't seen since the beginning of 2019. Watching for further confirmation on any trades to be taken. Have a good trading week! Happy trading!

drewbyfx

Last week we watched this pair break out of the zone it was in for 3-4 weeks. Now we see that price has close under the zone. For confirmation a retest needs to printed and a close under the zone. The blue lines are my targeted downsides zones. This is an analysis not a signal. Trade at your own risk with proper risk to reward. Happy Trading!

drewbyfx

GBPUSD was in a bullish channel since December 2018 so about 6 months. After breaking out of the bullish channel it broke the price zone 1.30000 late April 2019. Last week it bullishly engulfed 3 .. almost 4 weeks of bearish price action. It has now since retraced at least 75% of that strong bullish candle, finishing the right shoulder of a Head and Shoulders...

drewbyfx Updated 

Last week this pair saw a break of the bull trend line. It retested the trend line 3 times and failed on the fourth where the yellow highlighted zone is. This to me shows even more slowing bullish momentum and a bearish bias. The lower trend-line is my confirmation trend-line. I am waiting for a break and retest to the great highlighted zone before the first...

drewbyfx

USDCAD has just completed the retest. Perfectly. Next week is looking long. This is an analysis not a signal. Trade at your own risk with proper risk management. Happy Trading!

drewbyfx

EURUSD has made a bearish push through a large zone that it has been in for months, about half a year. Whats next?? For a valid break a printed retest has to happen and another close on daily TF for my checklist. Updates will be posted frequently on this pair. Happy Trading!

drewbyfx

Yesterday we got a breakout of the channel that it had been in for about a week and a half. It was to the upside. But time showed that it was a false breakout to the upside for the bears to take over. I am expecting a retest and a 100 pip move to the downside. If we get a closing candle in the zone again trade is invalid. Always check off your checklist. Trade...

drewbyfx

USDCAD broke out and closed above a weekly zone that it was in for a few months. Bullish bias on this pair. Always wait for confirmations before entering trades. Right now waiting the next daily candle to close to complete checklist.