asarefredua

Descending triangle portraying lower highs and support is being tested multiple times @0.75173, meaning when support level is broken, a breakout may occur. Although there was a previous false breakout where support was broken and price retraced back up. If price does break again a SELL STOP trigger line is set @0.74374 for confirmation of downtrend. My validation ...

Looking at this chart the USD/CAD is showing a possible short term uptrend after spending consecutive days on a downtrend from the 50% Fibonacci level. As of now it is finding support around the 78.6% level and is bound to bounce from this. This bounce of the support is confirmed from the two moving averages moving in a manner where they are going to intersect, ...

Everyone is aware that Gold is a 'save haven' for forex traders when economic results are bearish for a certain asset. Meaning, when some economies are performing well, Gold will reciprocate and also become bearish themselves. This can be seen through the past two daily candle sticks after Germany, one of the top 7 economies, showed positive unemployment. -12K ...

Currently, the GBP/USD (Cable) has found a strong resistance level at the 50% level on the Fibonacci Retrancement. As well as this, a descending triangle has formulated, characterised by lower highs and lower lows over the past few days. The reason I believe this pair will breakout of the 50% Fibonacci level is because the 30 day moving average is looking to cross ...

The EUR/USD is currently approaching a strong resistance level of 1.8136. Previously when this market hit that resistance, there was a fakeout that lasted for a week, slumped below the resistance line and is now, creeping back up to this level. I believe this may have a breakout due to the fact that the long term 200MA is sloping upward and is meeting the lower ...

From pure technical analysis. There are numerous confirmations of Gold, firstly, looking at the Fibonacci retracement; it tends to be trading between 78.6% as a resistance level and 61.8% as a support level. Using historical price action, this would indicate a bounce off the support level found at the 61.8% level. Although, I believe this price will be broken due ...

The European Central Bank had a conference where Mario Draghi, President of ECB, presented the ECB. One of his alarming statements were that the ECB has decided to cut their monthly asset purchases in half, from 60bn Euros to 30bn Euros, starting of January. With economic intuition, this enlightens Europe's inflation struggles it has had over the past few ...

Today was the day for the UK to show how well the economy is performing by its GDP result. Through fundamental analysis its previous result, the forecast for this quarter is GDP was 1.4%. Although it surpassed its forecast with an actual GDP of 1.5%. This resulted into a massive 108 pip increase within its first hour of result. Also, it has tested/broken the major ...

Despite the positive economic news for USD; overcoming the forecasts of analysts that predicted only a 0.4% increase in retail sales, although it was actually a 0.6% increase. This fundamental analysis shows that the consumer spending within the economy of the USA is above par which can also conclude to good accounting and money management throughout the country. ...

Currently, GBP/USD is on a 'BUY' recommendation up until around 1.3010 level, then it is likely to decline after this price to levels sloping to 1.27. Support is found around the 1.2950, it has been tested 5 times over the past few days which validates the strength of this support. Resistance is found around the 1.3133 where it is been tested 3 times and validates ...