Foreign Exchange

The EURGBP made a rebound on the support level of 0.7845, so this pair is performing corrective Movements in favor of the current bearish bias. Now the EURGBP is finding resistance at the daily pivot point of 0.7870 level, so this pair could make a pullback in that area and fall back to the level […]

Last week, USD/JPY moved upwards by over 300 pips. This has come as a result of a great weakness in USD and a great weakness in Yen. The supply level at 121.50 is under siege and it may be breached to the upside as the market continues to exert its bullish strength. EUR/USD: This pair […]

The AUDUSD has started the week with a bearish gap below the daily pivot point of 0.8341 level, which could serve as a strong resistance zone in this pair. Now the AUDUSD try to reach that level to fill the gap, but the bearish bias still remains strong in the Aussie, which is likely to […]

Here’s the market outlook for the week: EURUSD Dominant bias: Bearish This is a weak market, and the broke below the line at 1.2400 (which is now a resistance line) led to the strengthening of the bearish bias as price went further downwards, closing below the resistance line at 1.2300. The target for next week […]

The EURJPY has made a pullback on the resistance level of 148.77 in the H1 chart. This pair is making a retracement for the current bullish trend therefore is very likely that the EURJPY finds support at the 147.90 level, where furthermore, this pair could conduct a rebound to climb back up to resistance level […]

“I am adhering to a positive expectancy model and prudent rules of risk management, therefore I have confidence in taking each and every trading signal.” The Relative Strength Index (RSI) – which has many uses – is a popular tool among Forex traders. However, using it in a conventional way mayn’t serve our best interest. […]

The NZDUSD took a steep drop to the support level of 0.7791 during yesterday’s session. The NZDUSD is trying to form a double bottom pattern on the level of 0.7791, which is very likely to be pair up to where is located the daily pivot point of 0.7850 level, where is located the 200 SMA […]

The EURGBP fell precipitously below the resistance level of 0.7980 and now, this pair is consolidating below the 200 SMA in the H1 chart. This pair has rejected several times by the support level of 0.7922, so the EURGBP could rise to daily pivot point of 0.7946 level. Furthermore, if the EURGBP carries a breakout […]

GOLD (XAUUSD) Dominant Bias: Bullish According to the past historical seasonal trend and cycle, Gold was expected to be bullish around the last Thanksgiving holiday. Instead, Gold price consolidated and later dropped sharply last week – another example of the fact that past event is not indicative of future result. However, this does not mean […]

The ultimate target for USD/JPY is at the supply level of 119.00, and price is now close to that target. With further strength in the market, the supply level can be breached to the upside as the bulls continue to push price up. In that case, the next target could be the supply level at […]