Foreign Exchange

GOLD (XAUUSD) Dominant Bias: Bearish On Friday, November 14, 2014, Gold bounced upwards. That was a break from the equilibrium zone that was formed last week. The upwards bounce was strong enough to threaten the existing bearish bias. In the US, Thanksgiving Day is on November 27, 2014. As usual, it would be the 4th […]

The Cable dropped by roughly 300 pips last week, testing the accumulation territory at 1.5600. There is now a shallow upwards bounce from that territory, which should be short-lived as the Cable continues to be weak. Any movement above the distribution territory at 1.5800 would seriously threaten the bearish outlook. EUR/USD: The outlook on this […]

Here’s the market outlook for the week: EURUSD Dominant bias: Bearish The outlook on this pair remains bearish, but it is now in a precarious condition. There was a significant bullish effort on Friday, and the bearish outlook may be put in a serious jeopardy when the price manages to go above the resistance line […]

LEARN FROM THE GENERALS OF THE MARKETS – PART 55 “When you are trading, trade the truth. Truth is the only safe ground to stand on.” – Old Trader Israel Englander (sometimes called Izzy) was born in 1948, in New York City, USA. He’s a Hedge Fund guru. He was raised in a Jewish family […]

The NZDUSD had a strong bullish momentum during yesterday’s session, as this pair is trying to make a breakout again on the resistance level of 0.7823. The NZDUSD could be forming a higher high pattern above the support level of 0.7793 which is close to the daily pivot pivot level. However, if this pair executes […]

EURUSD = Buy EURCAD = Buy EURAUD = Buy EURNZD = Buy EURJPY = Buy EURCHF = Buy EURGBP = Buy NB: Every trade could be entered with a stop loss of 100 pips and a take profit of 200 pips. Only 0.5% is risked per trade. With an account balance of $20,000, a position […]

AUDCHF = Sell USDCHF = Sell EURCHF = Sell CADCHF = Sell CHFJPY = Buy GBPCHF = Sell NZDCHF = Sell NB: Every trade could be entered with a stop loss of 100 pips and a take profit of 200 pips. Only 0.5% is risked per trade. With an account balance of $20,000, a position […]

The USD/JPY tested the supply level at 115.50 several times, but it was unable to break it to the upside. There is an existing bearish pullback in the market, which could be challenged at the demand level of 113.50. Any movement below that demand level may put the bullish outlook in a precarious situation. EUR/USD: […]

The EURGBP continues to move in range below the resistance level of 0.7851 and the 200 SMA. The EURGBP could conduct a retracement to the 0.7825 level daily pivot point. However, the EURGBP is following a bullish trend line on the H1 chart, so the EURGBP could have enough strength for a breakout in the […]

Here’s the market outlook for the week: EURUSD Dominant bias: Bearish The outlook on the EURUSD remains bearish as the market dropped below the support line at 1.2400. Since then, the market has bounced upwards a little, closing almost above 1.2450. While the price could hit the support line at 1.2400 again, it is now […]