GBPUSD started 2021 in bullish wedge on H4, with the pair weakening, a rally towards the upper channel of the bullish wedge might likely be attacked by bears dragging it down to 1.34000 or below N.B - Let emotions and sentiments work for you -ALWAYS Use Proper Risk Management In Your Trades
USDCHF has been on downtrend on the higher timeframe, but recent activities on the lower timeframe indicates the pair might be ready for a pullback. 2 Patterns are shown on the H4 chart & the 2 are possibilities. One, we have an ending diagonal which is an established pattern on the chart while bullish wedge is also developing its upper channel (red dashed...
With the growing bullish sentiments in the world oil market, price of WTI may hit the upper channel of the bullish wedge before there could possibly be a pullback against our earlier outlook on the commodity (as predicted last week, shown below). Also we have reviewed our target price from 67 to 73. N.B - Let emotions and sentiments work for you -ALWAYS Use...
Investors' sentiments is shifting bearish for Dangote Cement stock after the pullback from its recent high. Smart Monies are expected at the value zone above 200 which may subsequently drag the price high to test the recent swing-high or making a new high, creating a higher-high scenario. N.B - Let emotions and sentiments work for you -ALWAYS Use Proper Risk...
USDCAD is on the decline but a pullback is imminent. The pair ending diagonal may likely turn sentiments bullish on H4, however a close below 1.26044 will indicate continuation of bears... N.B - Let emotions and sentiments work for you -ALWAYS Use Proper Risk Management In Your Trades
The rising trendline on H4 that has been keep EURUSD in upward momentum has been broken with the last trading four hours ended in a rejection candle. The pair is expected to make a rally up (possibly towards bearish order candle at 1.22754 level). Any price rejection here could drag EURUSD further down to the long term trendline. However, a close above 1.23653...
Posted earlier is a Weekly outlook of EURUSD. On a lower time frame however, the pair is showing high possibility of going lower. In the event that price rally up but got rejected below 1.22600, then the pair is likely going lower. A close above 1.22600 will indicate price momentum has changed to bullish even on H4; hence a long trade outlook begins. N.B - Let...
As we analysed for Brent Oil previously (see below), the same goes for USOIL now targeting 67 and above later this year... N.B - Let emotions and sentiments work for you -ALWAYS Use Proper Risk Management In Your Trades
Gold price is expected to breakout of the upper channel of the bullish wedge in this next few days (likely 5 days) with possibility of pulling back to test bullish order candle at 1885. Any rejection here will later expose the price of the metal to the next strong resistance level at 1965. On the short term, gold likely to test 1965 and if price breakout/violate...
Looking at Brent Oil (and WTI) monthly price chart, one cannot help but to see similarities in their price movement. While Oil bottomed out Jan 2016 ("y"), it then later makes series of higher-highs ("i", "ii") & higher-lows. Almost similar price movement is not displayed recently with price bottomed out in April 2020 & has just made a Swing-high (i). Moving...
Dollar index finally breakdown last December 2020 by violating the ascending trendline that has been keeping it afloat since 2008 (Technically 2011!). However, the index is now sitting close to a support level. The support level may cause a bit of reversal, but the overall bearing trend will be sustained as depicted on the chart. N.B - Let emotions and sentiments...
Now that GBPUSD has violated the monthly bullish wedge (as explained in our 22/11/2020 post below), bullish rally may commence in 2021! First obstacle is at 1.4000 level which may likely cause the pair to pullback towards the first bullish-order-candle at 1.34000 level (or deeper at 1.25000). Any price rejection from thence will then be targeting 1.50000 and...
With Fibre unable to close above the closing level of Week 14/12/2020 at 1.22524 as posted last week (see below), the pair has finally indicates its weakness and ready to revert to its mean or below. Any short-term (H4) rally-up could possibly be a good short trade. However, the pair on the longer timeframe is still bullish!!! N.B - Let emotions and sentiments...
In our last post on gold, question was raised about the possibility for gold to rally up to 1950 before the year end, looking at seasonality of the precious metal. Last trading week's activities indicate that gold now has herculean tasks before this can be achieved (but not impossible). -Scenario 1: Dotted Red Line - Recent pullback upward pattern is showing a...
NZDCAD has previously been rejected many times at 0.91550 level. Now that price is coming again to the level, IF THERE IS ANY PRICE REJECTION at this level, then the pair most likely revert to its mean or below in the coming days. NOTE: Higher Time Frame is Still Bullish N.B - Let emotions and sentiments work for you -ALWAYS Use Proper Risk Management In Your Trades
Fibre closed this week with inside bar. This could be the first sign of weakness for EURUSD to revert to its mean. Failure for the pair to close above upper week "Close" (at 1.22524) in the next trading week, would finally signalled price reverting to its mean. ...Wishing you all Merry Christmas N.B - Let emotions and sentiments work for you -ALWAYS Use Proper...
With OPEC agreed for a cut in production, the resultant effect on price has been bullish. In a couple of days, Brent oil likely to touch 56 level which could cause a pullback in price of oil towards 45 circa. Any price rejection for UKOIL from 45 level would likely lead to another rally to 68/70 mark in coming weeks. N.B - Let emotions and sentiments work for...
Statistically/Seasonally, gold and silver for the past 5 years always end the last 2 weeks of the year bullish. If similar scenario will play out in 2020 last 2 trading week, then, there is high tendency for gold price to rally towards 1950 before the year runs out... N.B - Let emotions and sentiments work for you -ALWAYS Use Proper Risk Management In Your Trades