After printing a Lower High (LH) on daily chart, EUR/AUD is poised for a major slide up to 1.5007. The pair was closed yesterday in negative territory at 1.5383. At the time of writing in Asian session spot is being traded at 1.5407, around 100 pips down from previous wave’s swing high. [Read more...]
AUD/USD is undergoing through a downtrend move since April last year, we still don’t see any long term bullish sign for Aussie dollar against greenback. The pair closed at 0.8774 last week, the lowest level since 2010. Some recovery is being witnessed in Asian session on Monday. Spot is [Read more...]
Silver once again closed in negative territory on Thursday showing significant level of weakness. The metal is expected to find a strong support around $19.60 – $19.65 zone, 23% fib level before resuming the upward movement that may last up to $20.83, where at least three resistance [Read more...]
EUR/USD yesterday closed with a large bearish engulfing bar followed by a shooting star off a major resistance on daily chart that shows significant signs of weakness. At the moment of writing in Asian session, the pair is being traded at 1.3618 where it looks all set for a dive towards 1.3523 [Read more...]
GBP/JPY closed positively on Tuesday at 171.19 with a large bullish engulfing bar, making a bullish harami candlestick pattern on daily chart which is considered a good sign of bullish sentiment, I however believe that this bullish momentum is short lived and the pair is poised for much awaited [Read more...]
Crude oil is making recovery in Asian session today after falling to $91.63 on Monday amid Iran deal that would ease economic sanctions thus the country may be able to resume exports. Light Sweet Crude Oil futures for February delivery slid down sharply in the US session yesterday when news [Read more...]
Gold surged last week and gave a closing at $1247 /ounce after a release of the worst non-farm payrolls report in more than 35 months. Important levels The precious metal may face an immediate resistance around $1250 that is a horizontal resistance zone as well as 38.2% fib level ahead of [Read more...]
Suggestion for Trade: Buy at 1.6260, SL 1.6240, TP, 1.6480 GBP/USD yesterday gave a negative closing at 1.6364 thus activating the previous bearish pin bar off 1.6483 resistance which is considered a good indication of downward trend. Major Support & Resistance Levels At the moment of [Read more...]
Suggestion for Trade: Sell if 4-hour candle closes below 1.4540, SL above trendline @ 1.4560, target 1.4300 EUR/CAD yesterday closed just above a key trendline support at 1.4573 and is likely to continue downward movement today amid Eurozone growth pessimism and weaker EUR following Fed [Read more...]
Suggestion for Trade: Sell on breakout through channel support (currently 1.3665), stop loss above trendline, target 1.3552 EUR/USD fell sharply yesterday after Fed decision to taper monthly asset purchase program by $10 billion amid impressive performance by labor market and overall growth [Read more...]