Gold spiked to All-Time Highs, breaking above ($1920.111) during the early European session, albeit quickly retreated a bit thereafter.
There are still high concerns within in the US about the economy which could be grinding to a halt amid the ever-increasing coronavirus cases that continue to grow. News release of the advance US Q2 GDP report on Thursday,...
USDJPY has recently crossed the 50EMA meaning the start of a new trend on the 4HR Chart & is in a level of structure support that has been a major level of structure for this pair multiple times in the past. So, for this week, I will be looking for possible long trades out of this pair from our Monthly Support Zone.
Support Area (Brown Zone) = (98.900-107.180)
Happy Sunday Traders
This pair is currently pushing up very strongly on the daily chart. During the week, this pair broke previous resistance (1.14420 -1.14990) and is now pushing up into an area which I called the Weekly Resistance Zone. This is an area that the EURUSD has tested multiple times in the past as resistance and is possibly an area that we could see...
Good evening everyone, I have broken down in this video my confirmations and reasons for taking both of the trades. Students, i will be following up this breakdown and forecast tomorrow.
I hope you all fount this video insightful and helpful.
If you require anymore information about the education we provide at Alpha Trading Group, please leave a comment or DM...
Price is below the 50EMA & the Daily Resistance Zone with so far alot of buying pressure coming in for all of the EUR pairs.
Reason For Entry- Double Bottom, followed by Engulfing Candle indication of the counter-trend opportunity to go long
TP- 43 PIPS✅
TP2- 86 PIPS✅
This pair is in a phase of consolidation but it has just crossed 13&50 EMA indicating that we could see this pair move towards the Daily Resistance Zone (Green).
This will be an area where I'll be looking to go short.
DRZ(Green Zone) = (0.97500-0.98050)
Furthermore, above the DRZ there is a Weekly Resistance Zone which is even stronger than the Daily level. If...
Earlier today I posted a video expressing my thoughts on GBPUSD, I highlighted the entry point in the video for the short setup.
I you are in the trade make sure to risk manage accordingly and move SL to Entry.
Let me know if the comments if you took the trade.
Please like and show your support it goes a long way.
Trade had broke the resistance which then became the new support and then retested it. It since then started rising
I believe the trade will go up towards the trendline area, which I personally set take profit. The next decision happens from around that area whether it will break or respect.
If it breaks the trendline and closes above then I believe that it...
The trade has recently broke the resistance (now the new support) and then then tested the new support. Now currently rising
I think the trade will go up to the trendline which it has respected in the past and then the next decision is from there. If it breaks the trendline and closes above it could possibly go higher to next key area but if it doesn't and...
My thoughts on two alternate ideas:
IDEA 1 - If it breaks the support zone and the trendline it would go lower to the next zone which is either at the 38.2% or around the 61.8% on fibs (that's more long term those levels as I did the fibs a bit wider, however even if I did a smaller fibs the zones I drew out will still be around key levels).
IDEA 2. If it...
EURUSD is heading down towards the weekly support at around 1.16414 then I expect that it would then go back up towards 1.20850 and could then either form a head and shoulders pattern or could go over and continue to go up towards the weekly resistance area at 1.25701.
Looking at the indicators such as the RSI and Stochastic also on the Weekly chart, the Rsi...