Since last week, AUD/USD Bulls are hesitating to break the resistance. Multiple daily candles with long wicks at the top indicate that bulls are not so confident anymore. Yesterday, the bears showed up with a big red daily candle. Although bulls have managed to hold the price near the key 0.70 level, they seem weak now. I have had a very good run buying AUD/USD...
I saw many traders selling GBP/USD for the last couple of weeks. That's why I published multiple updates on GBP/USD advising traders not to sell as the trend is clearly up. As I expected, GBP/USD bulls have broken the resistance level near 1.2650 and now the path of least resistance is to the upside(1.30). 400 Pips up on GBP/USD. I expect GBP/USD to reach 1.30...
After making 4.5% gains in Gold with the previous Buy trade , what is the best approach to trade Gold now? As I predicted, last week's correction gave us a buying opportunity in Gold and Bulls took the price higher from the buying zone I marked in my chart. Currently, XAU/USD looks like the bulls have some power left to push the price towards 1745. I don't...
Friday's pullback gave us a buying opportunity in EUR/USD and I said on Sunday that the area between 1.1235-1.1270 was would be a buying area. You can see that EUR/USD dropped in the buying zone and bulls took the price higher once again. However, as per my current observation, I can see that EUR/USD is facing some resistance at at 1.1370 area. So, if bulls can...
As I was expecting for the last two weeks, GBP/USD has reached the Bullish Target at 1.2650. But, on the daily chart, the break of this resistance zone doesn't look convincing. I still believe that bulls have a good chance of breaking this resistance clearly but fresh buyers need to wait to validate this breakout. So, if GBP/USD can close above 1.27 on Monday,...
EUR/USD pulled back on Friday after some 'end of the week' profit-taking. However, the uptrend has not broken yet. So, logical thing to do is to buy EUR/USD and ride the next bullish wave as the path of least resistance is still to the upside.
In my previous EURUSD Market commentaries, I recommened opening Buy Trades when price was at 1.1100. We have already achieved 270 Pips and only the last target is left. I have mentioned that last TP is 1.1460 The Fed has delivered unprecedented amount of USD liquidity in the marked for the last 2.5 months. This can potentially lead to a weak USD cycle over the...
GBP/USD Bulls are strong and it seems like they are looking to break the 1.2650 resistance zone clearly. As I predicted based on price action that breaking 1.2350 will lead to strong uptrend, GBP/USD has reached the target 1.2650 and now it looks like Bulls are consolidating. There was some profit taking at the supply zone near 1.2650 but bulls have not shown any...
About one week ago, I told traders to buy GBP/JPY at 133 with long-term target at 145 area. Currently, the buyers from 133 have bagged almost 600 Pips. But, there's no need to worry because GBP/JPY Bulls are strong and they can reach my long-term target at 145. The Bulls have broken the strong resistance are and now the path of least resistance is to the...
Gold Bulls have failed repeatedly at the 1745 area. However, bulls are still strong because all the drops below 1700 are being bought and supported by the Bulls. So, this is a minor set-back for the Bulls. This chart helped me predicted that Gold will drop below 1700 when it was rejected at 1745. In my opinion, if Gold drops in the rectangular zone of my...
USD/CAD bears continue to dominate and price is getting closer to my 1.34 target as mentioned in my earlier market commentary. In the hourly chart, breaking 1.3480 clearly will take the price to 1.34 level. So, my recommendation is to sell the rallies. Do not rush and start buying because bulls have not showed up yet.
As described in my previous USD/JPY market commentary, USD/JPY Bulls have broken the important 108 level as expected and taken the price close to the target area at 109.25. What will happen next? As per my analysis, Bulls may not be able to break the 109.25 hurdle immediately. So, there will be some profit taking and consolidation in the 108.60-109.20...
There has been a small pullback in NZD/USD as the buyers are taking some profit and consolidating the gains before the next uptrend. Buying the dips is still a good plan as Bulls are still strong and they are likely to take the price above 0.6550 next week.
AUD/USD Bulls have taken the price closer to the supply level as I predicted in my earlier analyses. At this level, the early buyers will certainly take some profit pushing the price a bit lower in the process. Predicting the Bullish Wave Therefore, 0.6980 to 0.7050 is an area for the Bears to step in and push the price lower to 0.66 as the buyers have almost...
Dear Traders, when GBP/JPY was trading at 133, I highlighted the increasing possibility of bulls taking the price to 135.50 resistance level and breaking it. As you can see, it is mid-week and Bulls have already broken 135.50 and even reached 137. The uptrend is intact. But, some profit taking by the early buyers and correction can happen here. If GBP/JPY makes...
Gold buyers have failed again at the 1745 area but the drop has been small so far. It is possible that Gold bulls are waiting to enter at lower levels and push the price beyond 1760. But, repeated failure to break the 1745 zone is not a good sign for the buyers. A correction towards 1700 and even 1675 can not be ruled out. So far, this price action appears to be...
GBP/USD has almost reached the supply area near 1.2650. When price was at 1.2340, I mentioned that breaking the ascending triangle top will lead to a strong uptrend towards 1.2650. And as you can see, GBP/USD Bulls have take the price near to the target zone already. What happens next will be determined purely by how big players react at this level. Based on...
Dear Traders, EUR/USD Bulls have cleared the minor hurdle at 1.1150 quite easily and taken the price above 1.12. In my last update, I wrote about the possibility of US Dollar entering a new weak cycle. The possibility of EUR/USD breaking this 2 year consolidation phase is very high now and as per my analysis, EUR/USD could trade closer to 1.22 in the next 5-6...