TheWallPipsJournal

TheWallPipsJournal

Just now, Bank of Canada delivered a hawkish stance and decided to end to the quantitative easing which sent the USDCAD drops 100 pips in 2 hours. Based on the 1H chart, the drop of USDCAD was coincided by the test on the level of 0.236 Fibonacci which could indicate a continuation of the downtrend of USDCAD.

TheWallPipsJournal

The Fed has been reported to be not in a rush mood to increase the interest rate although the inflation is considerably high for the country, as told by its chairman, Jerome Powell Technical Analysis: GBPUSD on 4H chart has been seen moving along the trendline which could indicate a potential upward continuation.

TheWallPipsJournal

Technical Analysis: Based on 4H EURUSD chart, we found an inverted Head and Shoulders chart pattern with the neckline broken which could indicate a bull is coming.

TheWallPipsJournal

Based on the job market sentiment last week, there might be a chance for USD to get strengthened due to the drop in the US unemployment rate. EURUSD is one of the pair that we can monitor as the price has just tested the downtrend line based on 4H Chart.

TheWallPipsJournal

Fundamental Info: Today it was reported that there is a decline in the numbers of Initial Jobless Claims and Continuous Jobless Claims of US which are totally a good trend for the job market of the country. If the trend persists, we can expect the Fed to have more hawkish on interest rate comments in the future. Technical Analysis : Based on 4H Chart, USDCHF is...

TheWallPipsJournal

Fundamental Info: The job market has seen slower days for the US as reported by Jobless Claims and Continuing Jobless Claims economic announcements. This could be detrimental for the Fed's interest rate hike. Technical Analysis: NZDUSD on 1H chart has been forming a double bottom chart pattern, breakout on the resistance might see the NZD gains control.

TheWallPipsJournal

Fundamental Info : The report of Pending Home Sales US has just been released and showed much of an improvement in the US property market sector which has been slowing down during the pandemic. This could set a further strength to USD. Technical Analysis : EURUSD on 4H chart has just made a breakout on the strong level of support at 1.1670 which could indicate a...

TheWallPipsJournal

Fundamental Info: The price of all cryptocurrencies are normally following the movement of BTCUSD which is now dropping in price due to the ban imposed by China government. Technical Analysis: XRP 4H Chart has just made a breakout to its Cup and Handle chart pattern which could indicate a further down.

TheWallPipsJournal

Fundamental Info: The Bank of Japan would continue to focus on cushioning the economic blow from the coronavirus pandemic, given lingering uncertainty over the outlook and subdued inflation, Governor Haruhiko Kuroda said on Monday. Technical Analysis: USDJPY is now testing a strong resistance level at 110.70 on 4H Chart, A breakout could indicate a further north...

TheWallPipsJournal

Fundamental : As reported, Australia has established relations with the US and UK in military cooperation which has sparked the anger of the Chinese government. Since China is the largest importer of Australia's Iron Ore, the country's highest GDP contributor, the AUDUSD would have a chance of weakening. Technical :On the Daily Chart of AUDUSD, the price...

TheWallPipsJournal

Hi, Janet Yellen, former governor of the US Federal Reserve and now the US treasurer, has made a statement that America is at risk of default this October. This sentiment temporarily weakened the USD, until there was a response from the US parliament to this statement. On the chart, There is a breakout to the CUP and HANDLE chart pattern on 4H Timeframe which...

TheWallPipsJournal

Hi, I found a double bottom for USDCAD is 3om chart. How about a short-term trade now?

TheWallPipsJournal

Hi, Based on the chart, there is a breakout on a sideway movement of USDCHF in a 30m chart. It is also supported by the Bollinger Band widening. Is this a signal of USDCHF dropping? Lets go!

TheWallPipsJournal

Hi, There is an indication of Elliott Waves Theory on the downtrend of GOLD. USD seems to be fueled by the sentiment of The Fed's thought about interest rate hike. It is also supported by the recent economic reports such as the increase of inflation and retail sales report of the US. If the GOLD is now on the third Elliot wave, we perhaps can hop for a long...

TheWallPipsJournal

EURUSD has been on a downtrend mood since we had the announcement from the Fed about the interest rate hike. The recent US reports on the increase of inflation and retail sales data seem to support the mood. Based on the 4H chart, we can see a trendline which has been tested. Furthermore, the movement of the price is also now below the Moving Average 100. As an...

TheWallPipsJournal Updated 

Hi, EURUSD has been testing on the resistance of the 15m chart for quite some time. Would it go bearish here? Happy Trading!

TheWallPipsJournal Updated 

Hi, We have read that the US economic growth of 6.4% did not change the view of the Fed to be more in hawkish mode. This shall maintain my view that USD is still waiting for its catalyst moving forward. As per 4H chart, the trendline is being tested, if there is a bounce, I would consider that my long view on GBPUSD is supported. Happy Trading!

TheWallPipsJournal Updated 

Hi, If you read on my analysis on Gold before, the weekly chart showed that the price is on the downtrend line. The price of gold has been slowing down for a few days and failed to break the 1,800. There is a formation of Head and Shoulders on the 4H Chart, shall the break confirm a further downfall for the Gold ? Possibly so. I am going short if there is. As...