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...
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...
The dollar was little changed last week as ranges between 97 and 97.6. By the end of last week, the price was seen closing below 97.4 within the supply zone which may lead the dollar to start another short-term bearish trend. However, we do not exclude the possibility where the price breaks new high immediately on the first trading day this week. Therefore, I...
Gold has ranged above the low of 1283 for the past 4 trading days. And last night, there was an attempt to break below the range which it did so base on the smaller timeframe from H4 onwards. The price made a strong pullback but it still failed to stand above the range or make a higher high. Thus in this case and with the head n shoulder formation, the price,...
GBPUSD was seen rebounding off from the bottom of an ascending triangle within a demand zone. The price has retraced from the rebound was supported twice at 1.3030 and may be ready to take off very soon. Furthermore, GBPUSD is still experiencing the process of a ranging market and thus it makes sense to simply buy at the bottom.
The gold price has turned bearish again as it fell strongly and break below the bottom of a rising channel. The price also failed an attempt to rebound as it reaches near a 3-month demand zone, leaving a long upper shadow on last Friday. Based on the monthly closing candle, it has become obvious that the price has to dip even lower, possibly 1237 which is the...
The dollar has turned bullish again last week, not for its strong fundamental reasons, but the weakening fundamental outlook of other major currencies. The month of March has ended and the dollar managed to close with a bullish candle and above 97. This still shows that the dollar been the one with the highest interest rate will still fundamentally be...
The price consolidates for the 3rd day as the price continues to retrace. There hasn't been any significant selling and the price has yet to reach any strong supply zone. Therefore, the price is expected to retrace further and climb towards the supply zone near 1.00 which overlaps with a previously broken rising trendline. For intraday trade, traders may consider...
Still remember when was it that we see the Dow, Nasdaq and S&P break through the ground? Since then, the price has almost recovered all of the losses in a very gradual and staggering fashion. But last Friday, we saw the biggest drop in 5-months based on a week. It also showed a bearish engulfing candle within a supply zone. And whatever that's just explained, it...