GKFX

GKFX

USDJPY completed a bearish shooting star candle at the key resistance around 115.00. Bearish attempts are likely over the near term. Where the first short term support could be at the 50-days simple moving average. Short term scenarios: Bearish, targeting 113.70 and 112.70, as long as below 115.50. Short term key support and resistance 114.00 113.60 ...

GKFX

The GBPUSD is showing short term positive signs. The pair completed a break above the short term resistance at 1.2195. Which is the high of the prior two daily candles. Despite this short term breakout, the overall bias remains bearish as the pair trades below 1.2350-1.2400 main resistance area. Short term scenarios: Bullish towards 1.2350 and 1.2400, as...

GKFX

The EURUSD may have completed a short term bottoming formation. The pair has broken two short term key horizontal resistance levels at 1.0630 and 1.0675, alongside the 50-days simple moving average. Further upside towards the next key and major resistance area starting at 1.0800 is our favored scenario over the near term. Short term scenarios: Bullish...

GKFX

Gold held below the 50-days simple moving average. However found support at 1195.00. An upside pullback and retest to the 50-days simple moving average is likely in the short term. However, the price may find new selling pressures from that area, as it’s a previous swing low (horizontal resistance) around 1218.00-1220.00. Short term scenarios: Bearish from...

GKFX

USDJPY is fluctuating below 112.55 broken support-turned-resistance, where the price dipped towards our first target at 111.65, but bounced again higher. Overall, the bias remains to the downside as long as below 113.50 over the near term. A break above 113.50 and the falling trend line for the bearish wave would bring back the positive bias. Short term...

GKFX

GBPUSD closed yesterday’s candle slightly higher. The price downside attempt earlier failed to hold below 1.2430-1.2420 support area and the 50-days simple moving average. The pair formed a bullish hammer candle at this key support and that hints we could see a more upside for the pair in coming days. It is also important to mention that the latest downside...

GKFX

The EURUSD continues to fluactuate below 1.0700-1.0710, which is the short term key resistance for the pair. The downside bias remains favored as long as below the latter. Where the next potential support resides at the confluence of the 50-days simple moving average and horizontal support zone among 1.0610-1.0588. Short term scenarios: Bearish towards...

GKFX

USDJPY pulled back higher towards 122.50 resistance level, where the bounce was initially halted by new sellers. The breakout below the recent sideways consolidation favors the continuation of the bearish wave. Short term scenarios: Bearish targeting 111.65 and 111.07. Risk limit above 113.50 Short term key support and resistance 112.00 111.40 ...

GKFX

The EURUSD pulled back slighty higher towards the broken rising support for the ascending channel, before finding new selling pressures and attempting to resume the very short term bearish pullback. We still see a potential for a retest of 1.620-1.0590 support area, where we expect a new bullish attempt. Short term scenarios: Bearish towards 1.0620, as long...

GKFX

Gold broke higher; the price has taken 1219 resistance levels and prior highs, extending the upside to around 1235. The price faces 1240.00 level as the next key resistance, where we might see a downside pullback and retest of the broken resistance-turned-support at 1219 before new upside attempts. Short term scenarios: Bullish towards 1240.00 as long as...

GKFX

GBPUSD is trading below the main support level we were targeting in our latest update around 1.2420. This level remains the key towards the short term direction for the pair. Where a break below it will confirm a double top pattern and may extend the downside for the pair towards 1.2250 areas. Short term scenarios: Bearish breakout below 1.2420 key level...

GKFX

The EURUSD dips towards the rising chnanel support as the price continues to pullback lower within the context of the short term uptrend that started from 1.0340 low in early January. Holding below the channel support may extend the downside towards 1.0620 support area. However, without a clear break below that support the short term trend remains intact. ...

GKFX

USDJPY continues to hold above the key support we stressed at 122.50-122.00 amid the overall bullish trend. Only a break below 112.00 may signal the end of the ongoing sideways consolidation and the extension of the bearish wave that started from around 118.60 levels. Short term scenarios: Bullish towards 113.45,113.85 and 115.00. Bearish if below 112.00,...

GKFX

GBPUSD breaks lower. The price managed to exit the rising channel, approaching the 50-days simple moving average and the neckline of the previously completed inverse head and shoulders pattern both reside around 1.2420. 1.2420 is the key support level to watch over the short term. Short term scenarios: Bearish towards 1.2420, as long as below 1.2540. ...

GKFX

The EURUSD continues to trade within the main rising channel that started from early January. Maintaining the uptrend(Series of higher highs and higher lows). Holding above the rising channel support favors the bullish scenario over the short term. Targeting the main resistance area around 1.0850-1.0875. If we break below 1.0700, we expect for the selloff to...

GKFX

GBPUSD extended the upside following the break above the short term falling trend line for the latest downside pullback (dotted black). The short term uptrend continues to be intact and more upside remains favored within the context of the rising channel. Over intraday basis, 1.2600 must hold for the bullish bias to remain favored. Short term scenarios: ...

GKFX

The EURUSD dipped towards 1.0730 yesterday before finding renewed demand and bounces back towards the recent highs. The pair continues to trade in an rising channel, maintaining the sequence of higher highs and higher lows. Accordingly, the upside remains favored over the short term. However, a key medium term resistance area start at 1.0795 and extends to...

GKFX Updated 

The EURUSD jumped higher yesterday, in the context of the short term uptrend that started from 1.0340 in early January. The price maintains the series of higher highs and higher lows; however, it faces an immediate medium term significant resistance area starting at 1.0796, and extends to 1.0875. This should play a key role in determining if the uptrend is to...