Price failed to break the 0.23 fib (1241.357) level which is was also a previous resistance level now turned support. Slow stochastics are now indicating that Gold is moving out of an oversold position. Got a tight stop in case we drop to the 0.50 Fib (1220.185) leading into non farm payrolls this Friday.
127% Fade on the GBPJPY. Using pastmarket angle to aggressively enter the market as it retraces towards the 38.2% retracement
What you should know about Non Farm Payrolls this Friday by #ForexSQ goo.gl Looking at the EUR/USD daily graph we see that the uptrend that started on 25th of July ended on August 18th. 50% Fibo retracement of that move is around 1.1155/60 and as the pair continues to stay below that level 1.11 area (Fibo 61.8% retracement) and 1.1040 (Fibo %78.6 retracement) can...
Looks like a lot of traders are going to get hacked to bits between the potential range of $1290 to $1325 because the Fed is doing what it does best, fear mongering about a rate hike. This is only helping the Fed play the longs into their hand by forcing them to give up their positions in gold. A close under $1308 after Friday’s Non Farm numbers will increase...
As can be seen price has broken out of the wedge formation. What usually happens now is a deep retracement back into the wedge and a spike back out continuing the upwards trend towards a re-test of previous highs. The farms rolls tomorrow are historically the worst and this should give a perfect opportunity for bulls to carry price higher. See below for a double...
Total NFP confirm the positive developments in unemployment rate. The data trends firmly upwards since 2011 and has surpassed the pre-crisis peak of 2008.
I have identified a valid double top on the 4 hour EURUSD Chart. All my Technical confluences point towards a short scenario likely. Risk Reward is a little over 1:1 for T1 so this makes it a valid trade