Hello traders! NZD/JPY has reached the resistance level on the hourly chart. As you can see in the chart, I have highlighted the resistance level with a rectangular bar. To be precise, the level around 92.20 is the resistance So far, we have seen a couple of bearish candlesticks in this level. So, if the level remains unbroken, traders can consider selling...
Hello traders, EUR/USD is slowly and gradually inching upwards. Last week our buy@1.0740 worked perfectly. At the moment, I am seeing a rather interesting development on the 4H chart. EUR/USD seems to have broken out of the descending trendline resistance level. However, note that there is no confirmation of the breakout yet However, if price does break out in...
Hello traders, as predicted a couple of days ago in my EUR/USD idea, the resistance level of 1.0875 worked well and price fell massively after inflation data from the US came out. Currently, EUR/USD finds itself back in the support region. As the support zone has not broken yet, I have bought EUR/USD already. I recommend traders to buy EUR/USD@1.0710-1.0740 with...
Hello traders, in my yesterday's GBP/USD analysis published 2 hours before the US CPI data release, I predicted that GBP/USD will most likely fall towards the support level near 1.2550. (previous idea attached below) As you can see, GBP/USD is back to the support zone, price went as low as 1.2520. So, I am looking at the possibility of a buy entry here. If price...
Hello traders, with CPI data coming out in less than 4 hours, let us take a look at the 4H chart of GBP/USD. The situation on the 4H chart is definitely bullish as price has bounced off the 1.2540 support level and currently it is consolidating above the 100 period moving average. However, spikes or dips during CPI can not be ruled out. So, is there is a dip...
Hello traders, we had over 120 pips last week from out EUR/USD buy at 1.0740 level. However, since then, price has pulled back a little. The situation is a little tricky on the daily chart, as we are seeing some uncertain price action in the 100-day EMA level. So, at the current price levels, I would recommend traders to stay away from placing any new orders. ...
Hello traders, let us take a look at the 4H chart of GBP/JPY. As you can see, price has respected the dynamic support level( 100 period Moving Average). In addition, the support zone indicated in the chart is also unbroken. I feel there is enough bullish momentum for price to reach 193 and beyond. The first minor resistance would be at 192.25 which if broken...
Hello traders, let us take a look at the daily chart in GBP/USD. First of all, I would like to draw your attention towards the highlighted elliptical zone in the chart. If you look at the price action, you will see that there are signs of reversal in this zone. The last daily candle indicates bulls are back in the game Secondly, the horizontal support level...
We saw a minor pullback in Gold, but every dips is so far being bought back by the Gold bulls. Technically, the 100hour moving average on the 15 min chart is working as the dynamic support. So, if the dynamic support continues to hold, Gold may reach 2340 and 2370 pretty soon.
Hello Traders, EUR/USD has rebounded strongly just after touching the 100-day EMA level. The rebound was fueled by the FOMC event yesterday. Technically, this is a bullish sign. There is no resistance until 1.0980 level, so we can expect price to reach the 1.0980 level soon . Keep in mind that this is a very weak resistance, so if there is enough bullish...
Hello traders, Gold's rally has been nothing short of spectacular till now. Almost, every dip has been bought by the market participants vigorously. So, selling Gold is akin to "getting rekt" . So, at this point, I would recommend traders to avoid selling Gold. However, there might be a pullback to 2315 level as price seems very overstretched now. For selling...
Hello traders, GBP/JPY has been sliding lower for the last few days. What's even more interesting if the fact that price has constantly stayed below the 100-hour moving average for quite some time now. That being said, there is a possibility of a rebound in GBP/JPY Traders waiting to buy, must wait for the price to break the 100-hour moving average level with...
Hello traders, currently we are in uncharted waters as far as Gold is concerned. Gold is breaking new highs everyday at ease. This indicates there is enough buying interest from the big players in the market. So, at this stage, I would recommend traders to avoid selling Gold. If you want to sell, you need wait for bearish price action ( consecutive bearish...
Hello traders, let us take a look at the daily chart in GBP/USD. First of all, I would like to draw your attention towards the highlighted elliptical zone in the chart. If you look at the price action, you will see that there are signs of reversal in this zone . The last daily candle indicates bulls are back in the game Secondly, the horizontal support level has...
Hello traders, in my yesterday's post, I advised you to buy GBP/JPY@190.60 after price breaks out of the trendline resistance and 100hour mav resistance. As you can see, the buy trade@190.60 from yesterday is in 130+ Pips profit . For those who followed the idea, I recommend you to take partial profit. Those who didn't buy, I recommend you to wait for a...
Hello Gold is near the 2300 mark and at this point, the uptrend looks out of control. That being said, there is a real possibility of a pullback at this stage. Technically, Gold has reached the top of the price channel. So, at this stage, I would advise early buyers to book profit and avoid any fresh buy orders in Gold. If there is bearish price action in the...
Hello traders, EUR/USD is at a very critical support zone. I say critical because this is the last noticeable support zone. The next support lies far lower at 1.0460. So, at this stage, it would be wise to exercise caution, especially buyers. We can see that price has already gone up by 45+ Pips from the support zone. In the past, there were 2 occasions where...
Hello trader, our previous idea yesterday about buying EUR/USD@1.0730 zone was super hit as price went up more than 120 pips from the lows. (We have linked the previous idea below for you to cross check) Currently, price is well above the 1.0720 support zone. So, we can say that the support zone is unbroken. In fact, price has also moved marginally above...