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...
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...
EURUSD fell for 4 consecutive days last week as the price failed an attempt to rebound on last Friday. Although there's little sign of reversal at this moment, the price may soon retrace due to overselling. As the monthly candle has closed, it has shown that EURUSD is set to fall even further towards 1.09 which is a 24-month demand zone. In this week, we are...
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...
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...
The gold has climbed gradually through the week while supported by a rising trendline. The price has yet to reach the supply zone and thus it may continue to climb. On an important note, gold has shown some kind of divergence from the dollar. Although the dollar has rebounded strongly, the gold was little affected and eventually climbed further. The US stocks...
The EURUSD didn't come out quite well with what we had expected in our weekly forecast as it surged much higher and broke above a 2-month falling channel for the first time. The price, however, retraced a lot stronger than expected which we believed have stopped out many buyers along the way. And since the price did not rebound before the week ended, there's...
The dollar ranged lower at first and plunged amid a dovish Fed. The price broke below 96 and got rebounded off by a demand zone at the bottom of the ascending triangle. As of now, the price has retested the supply zone at 96.6 and was held below ending the week. The underlying sentiment of the dollar has definitely turned more bearish but we can expect the price...
The gold has experienced quite a bumpy ride last week but it did close a little higher eventually. The price may range further upward since it just recently broke above a minor falling trendline, and is expected to reach the supply zone at 1322. In respect to the Bat pattern, the gold is most likely to attempt another wave of depreciation at the end of the current range.
USDCHF has fallen for 4 consecutive days and has shown a strong sign of further depreciation. At the beginning of the week, the price may experience some ranging movement as the dollar retraces higher while USDCHF tries to fall further. Once the dollar ends its retracement, the price will make a wave of depreciation after hovering near the supply zone at...
EURUSD climbed for 3 consecutive days and retraced on the 4th trading day of last week. The price climbed again on the last trading day but was rejected again near 1.134 which may cause the price to retrace lower. The current bullish trend hasn't changed and is expected to climb higher in the next 2 weeks. Therefore, we can expect the price to fall at first this...
The dollar fell for 3 consecutive days before it started to consolidate. An inside bar was formed after Thursday but the price failed to break below the inside bar after as it continued to fall after Thursday's retracement. The intention of the price still points toward further depreciation but since it failed to break 96.4, there's a good chance that the price...
Finally a sign for a stop to a bullish Dow that seems to have taken ages. The price finally gave a clear break below of the rising structure on a Thursday. However, the fall was pulled back strongly on a Friday night which is believed due to large profit takings. Although this is not a major reversal, it does give the Dow a higher probability of depreciation in...
The dollar climbed constantly and retested 2018's previous high at 97.7. A 6-month symmetrical triangle was also broken above in the process, signalling that the dollar may continue to climb higher and break new high in the near future. However, the dollar may experience a bumpy ride in this coming week as it got rejected by a 21-month supply zone. The dollar has...
Dollar fell further as expected as it formed a bearish Gartley pattern. The price was seen supported at first within the demand zone at 96. The price attempted to rebound and climbed slowly for two days. And on the last day, gains are mostly wiped out due to either a strong selling pressure had appeared or there's not enough buying strength to support a stronger...
The gold set to climb further after a strong rebound that lasted throughout Thursday and Friday. The price has successfully rebounded off from a demand zone and broke out of the range between 1316 and 1303. The price is also seen breaking above an inside bar based on W1 chart, a sign of a strong bullish moment. Traders can wait for the price to retrace back to...
The dollar climbed and created new high every day without failed and eventually entered into the 2-month supply zone at 97. The Gartley pattern was successfully formed as a result and on Friday, the price took a strong bearish stance, leaving a long upper shadow. Just a week before, the dollar has gained consecutively for 8 days but this week itself, there are 3...
When gold finally broke above 1300, it was a sign that the price will continue to rally and it did. But what's quite abnormal is how fast it gained another 26 dollars with no resistance and in just a few days. However, seeing how bullish the gold is, many fell victim into a so-called 'hot deals' but only to find their positions been locked down as it ranged...