Gold – XAU/USD – Trade Idea Today, the idea is to stay bearish below $1,220 to target $1,214/13 with a stop near $1,222. Good luck!
GBP/USD – Trade Idea Investors are advised to keep a close eye on $1.3090, below this, the GBP/USD can give us a selling opportunity to target $1.3025 and $1.2965. While, above this (1.3090), the pair can stay bullish until $1.3170 and $1.3220. Good luck!
Crude Oil Trading Plan Our forex trading signal is to stay bearish below $68.40 with a stop below $68.60 and a take profit of $67.85. Good luck!
Crude Oil Trading Plan Our forex trading signal is to stay bearish below $68.40 with a stop below $68.60 and a take profit of $67.85. Good luck!
After a miserable first half of 2018, many traders and investors are wondering when bullion will begin making a comeback. Values have consistently fallen in August gold futures, bringing the psychological level of 1200.0 into view. In the short-run, things can get worse for gold. The U.S. FED is due out with their policy statements and interest rate decision...
EUR/JPY - Trading Idea We are already in trade and our trading signal is aiming for 130.65 with a stop loss at breakeven at 130.04. All the best!
After a pre-GDP rally in the USD/CHF, values have dropped precipitously. In fact, since the 8:30 AM EST release, price is off more than 25 pips. It appears that currency traders are breathing a collective sigh of relief on news of 4.1% GDP, not taking fresh longs in the Greenback. Buying the USD/CHF at .9951 is a pretty good way to play a long from the daily...
The coming 24 hours will be big for the USD/JPY. A slew of economic releases are on the way from both sides of the Pacific, each having the potential to move pricing directionally. With static Japanese inflation and strong U.S. GDP expected, the bulls are eagerly awaiting their turn at this market. However, a short from beneath the 38% current wave retracement is...
Gold has already crossed over 100 periods of MA which is likely to provide it support near $1,228 today. The violation of $1,228 can lead gold prices towards $1,225 and $1,222. Good luck!
The AUD/USD has been pressing higher on the back of USD weakness. After yesterday's weak inflation, I feel this is a good time to sell these spikes higher. 0.7500 is about as far as the AUD/USD can hold from a fundamental point of view. Entering a short position with a longer-term outlook might be a decent play while the USD is off its highs.
A bit earlier, the EIA crude oil stocks report was released to the public, capping this week’s inventories cycle. The number came in on the low side, bringing short-term bulls to the table in force. However, immediate buying gave way to bearish action amid robust participation. For the rest of the week, I will be looking at scalps to the long from above the 62%...
Weak CPI has seen the Aussie drop lower after being strong headed into the number. On a fundamental level, the AUD/USD is going to struggle to maintain anything close to 0.7500. I'll be looking to sell at 0.7450 and ride this downward channel lower, assuming we can pop higher on the back of the poor data.
Fundamentals are going to control the DOW for the remainder of the week. With Friday’s Q2 GDP release looming, we may be in for choppy price action in the next 48 hours. Until Friday's GDP release, selling the first test of 25,500 is not a bad way to fade today’s breakout. Here is the trade in the September E-mini DOW: Entry: Short from 25491 Stop Loss: 25526...
July has been a good month for U.S. equities, featuring bull runs in both the DJIA and the S&P 500. A simple look at the September E-mini S&P 500 futures daily chart illustrates this point. If we see some weakness in the S&Ps as the trading week develops, then a long from the 38% Fibonacci retracement of the current daily wave may come into play. As long as the...
Gold - XAU/USD - Trading Plan As a result of bearish engulfing, we opened a forex trading signal to stay bearish below $1,231 with a stop above $1,234 and take profit at $1,227. The market may exhibit thing volatility but we need to keep the patience to get out target price. Good luck!
USD/CAD - Trading Plan Investors are advised to keep an eye on $1.3125, below this the USD/CAD is likely to stay bearish. Whereas, the pair can stay bullish above $1.3125 until $1.3250. Good luck!
CL Futures have opened the week with a 3% gap down around the $68 mark. $68 is also the high volume area. I'm looking for a pullback from the gap, to $69.38 level, which is low volume area. This won't quite close the gap but it will be a percentage of it. Before retracing back to $68.00.
I would also like you to notice the ascending triangle pattern which is providing resistance at $1.3350. The ascending triangle patterns indicate the bullish bias of traders and typically break on the upper side. The USD/CAD can find an immediate resistance near $1.3285 and $1.3350. The violation of $1.3350 can lead commodity currency towards $1.3550. Ahead of...