Gold violated $1,306 to test $1,309 but the breakout later converted into fakeout. Taking a look at the 4- hour chart, the bullish breakout candle peaked to $1,309 but fell back to close below $1,306. This signifies that the investors are still respecting $1,306 as a resistance.
The AUD/USD has been holding the downward channel. Given the USD strength, I'm looking for a break below 0.7400 in the coming week. Before a possible retrace.
The USD/CAD has been in a rotational phase near the 1.3000 handle for the last five days. Early session bullish pressure looks to test the valid Swing Highs of 1.3051 and 1.3067. Here is the short trade setup: 1) Entry: Sell 1.3049 2) Stop Loss: 1.3076 3) Profit Target: 1.3022 4) Risk Vs Reward: 1:1 This trade has a solid chance of hitting the profit target on a...
Today's forex trading signal is to stay bullish only above $66.45 to target $67 and $67.45. Whereas, selling is preferred only below $66.45. Good luck!
Technically, the violation of $1,294 can lead gold prices towards $1,289 and $1,281. While the bullish breakout can open a room for buying until $1,307 and $1,317 today. I’m placing my sell limit near $1,306 with a stop near $1,309 and open take profit to capture 50/60 pips. Good luck! Keep following for more updates.
On the 3 hour timeframe, crude oil has formed an ascending triangle pattern which is signaling the buying behavior of traders. The pattern is extending a strong support near $65.50 along with a resistance at $66.5. Historically, the ascending triangle pattern breaks upward, therefore, the violation of $66.45 is likely to lead the crude oil prices towards $67.40...
The violation of $1,294 can lead gold prices towards $1,289 and $1,281. Whereas, the bullish breakout will open a room for buying until $1,307 and $1,317 today. Investors will be watching very closely to see if there’s any forward guidance that will intimate a possible fourth rate hike into the year-end.
The E-mini DOW futures have been on a nice 7 day winning streak. A possible pullback may create a buying opportunity in coming sessions: 1)Entry: 25010 2)Stop Loss: 24949 3)Profit Target: 25071 4) Risk vs Reward Ratio: 1:1 As long as the current swing high of 25418 remains valid, then this long trade will be on the board. With the FED meeting looming, we may be...
EUR/USD has formed a descending trend line on the H1 chart. We can see two doji candlesticks as well, which together with the trend line form a bearish reversing pattern on this pair.
Today, the idea is to stay bearish below $1,302 to target $1,294 with a stop above $1,304. Whereas, the violation of $1,302 is likely to get us bulls until $1,308.Good luck, and let’s wait for the U.S. Inflation rate data.
The USD has been finding some buyers , while the JPY has been weak. If little comes of the North Korean/US summit then I expect a slight retrace. Be watching for a failed attempt at 110.50 for a short-term opportunity to the short side.
NZD/USD has been trading on a tight range last week. The 100 SMA (red) has provided solid support and now the sellers have given up. It seems like the bulls are in control now.
Support Resistance 147.26 147.75 146.81 147.99 146.42 148.14 Key Trading Level: 147.430 Keep following for more updates
With the FED rate hike all but priced in, we might see some more downside this week. Technically, we have a head and shoulders pattern which would indicate there is more downside ahead. Looking for a break of 93.40. Potential downside target of 92.50. That said the USD is long-term bullish.
An active EUR/USD market is the story of the day. A test of the 38% Fibonacci retracement on the daily time frame may be in order for early next week. Here is the trade: 1) Entry: BUY 1.1715 2) Stop: 1.1674 3) Profit Target: 1.1745 4) Risk vs Reward: 41/30 The R/R ratio is not the best, but this is a short-term position trade. It will stay on the board until...
We are in sell below $1,296 with a stop above $1,299 and a take profit of $1,293. I will be looking to buy above $1,290 later today. Keep following for more details..
After the bearish breakout seen on the Thursday session, the USD/CHF is poised to return to the previously established value area .9850. Thursday's move was in part due to the shrinking SNB Foreign Currencies report. Trade is likely to stabilize for Friday's session. Entry: Buy from .9792 Stop Loss: Sell .9749 Profit Target: .9841 This trade is good until market...
I will be keeping a closer eye on $65.95 to target $64 and $63.85. Whereas, we may have a buying signal above $66. Good luck! Keep following for more updates..