Gold is Ready for New Rally
Gold closed above $1,300 per ounce for the first time in 5 years as the U.S. dollar saw it’s worst decline over the past 14 years. Despite a strong start in 2017, XAUUSD spent most of the year in a sideways...
Category: Daily Forex Reports
Bitcoin: Technical and Psychological Perspective
Hello fellow traders, in this blog post, we will discuss the most hyped cryptocurrency Bitcoin in a technical as well as psychological perspective. From the zero line, we are calling bitcoin completed in the super cycle blue wave (a)...
Nasdaq Elliott Wave Analysis: Ending Impulsive Move
Short Term Nasdaq Elliott Wave view suggests that the rally from 12/5 low unfolded as a double three Elliott Wave structure where Minor wave W ended at 6545.75 and Minor wave X ended at 6383.25. This week, the Index made a new high above...
EURGBP Channel Resistance (Jan 05, 2018)
EURGBP is trending lower in a shallow descending channel visible on its 4-hour chart. Price is approaching the channel resistance at the .8950 minor psychological level and might be due for a bounce. The 100 SMA is...
GBPUSD Ascending Trend Line (Jan 04, 2018)
GBPUSD is trending higher on its 4-hour chart and looks prime for a pullback to the ascending trend line. Applying the Fib tool on the latest swing low and high shows that this lines up with the...
USDJPY Triangle Forming (Jan 03, 2018)
USDJPY has formed lower highs and found support at the 112.00 area, creating what might be a descending triangle pattern. Price is currently testing support and might be due for a bounce back to resistance if it...
USD/JPY Price Forecast January 3, 2018, Technical Analysis
The US dollar fell significantly during the trading session on Tuesday, reaching towards the 112 level. This is an area that has been important more than once, and therefore it’s not a huge surprise to see that...
USD/CAD Price Forecast January 3, 2018, Technical Analysis
The US dollar fell slightly during the day, but just slightly, as the GBP/USD market has continued to struggle overall. The 1.25 level underneath is a large, round, psychologically significant number, and that of course is an...
GBP/USD Price Forecast January 3, 2018, Technical Analysis
The British pound continues to be very volatile, but obviously buyers have come back significantly. I think that the market should go looking towards the 1.3650 level above, which is a major area to pay attention to...
EUR/USD Price Forecast January 3, 2018, Technical Analysis
The EUR/USD pair initially tried to rally during the trading session on Tuesday, but we did pull back a little bit. Ultimately, I believe that the buyers will continue to go higher, with the 1.20 level offering...