Foreign Exchange

Here’s the market outlook for the week: EURUSD Dominant bias: Bearish The dominant bias on the EUR/USD has been bearish for most part of this month. However, the adamant and obdurate support line at 1.3650 has been a major headache to the bears. As a result of this, the southward journey has been limited, e.g. […]

“We’ve seen plenty of traders over the years make huge returns on their accounts, well over 1000 per cent in a relatively short period of time, but as soon as they hit a drawdown period they just as quickly give it all back. This is because they were trading well beyond risk limits in the […]

The outlook remains bearish in the NZD/USD as this pair is below the 200 SMA in the hourly chart. The NZD/USD is trying to form a bullish pattern above the pivot point level of 0.8571. If the pair manages to make a breakout on the resistance level of 0.8603, next target would be the resistance […]

The EUR/GBP remains very strong in the current bearish trend. This pair has found resistance below 0.8160 level and now, the EUR/GBP is trying to make a breakout to the pivot point level of 0.8149. However, this pair could rise to the resistance level of 0.8160, because the EUR/GBP is currently supported by a bullish […]

Instrument: USDJPY Order: Buy Entry date: May 19, 2014 Entry price: 101.425 Stop loss: 100.429 Take profit: 103.429 Instrument: AUDJPY Order: Buy Entry date: May 19, 2014 Entry price: 94.614 Stop loss: 93.594 Take profit: 96.594 Instrument: CADJPY Order: Buy Entry date: May 19, 2014 Entry price: 93.315 Stop loss: 92.301 Take profit: 95.301 Instrument: […]

From the accumulation territory at 1.6750, the Cable has bounced upwards. The upward bounce should pause at the distribution territory of 1.6850, so that the present bearish outlook may continue to be valid. EUR/USD: The EURUSD trended gracefully to the downside last week. However, the graceful downward movement has been challenged at the support line […]

The AUD/USD has consolidated above the 200-day moving average, so more bullish movements are expected. The aussie is trying to form a bullish pattern above the pivot point level of 0.9358, which is shown as a very strong resistance level in this pair, but the AUD/USD has finally managed to consolidate above this level. The […]

Here’s the market outlook for the week: EURUSD Dominant bias: Bearish This currency trading instrument has been bearish since last week. From a high of 1.3993, the price dropped by over 340 pips, reaching the support line at 1.3650. The support line has brought about a temporary halt in the bearish journey. This halt resulted […]

“I’m a breakout trader, and I’ll tell you, over time I have had to learn over and over again to resist the temptation: “This thing is going to go up, I need to get in before it breaks out of this pattern.” – Peter Brandt Facing the realities of the markets successfully is a must […]

The EUR/JPY has found resistance at the 140.69 level, so it is likely to continue falling. This pair is trying to consolidate below the pivot point level of 140.33. The next target for this pair is the support level of 139.73. If the EUR/JPY manages to make a breakout at that level would be expected […]