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Information and opinions contained on this page are for educational purposes only and do not constitute trading recommendations. Trading OTC Forex on margin carries a high level of risk, and may not be suitable for all investors. The high degree of ...
The Euro climbed higher recently against the Canadian Dollar, and managed to clear a major bearish trend line on the hourly chart. There were a few retest attempts for the highlighted trend line and buyers successfully managed to hold the downside. ...
The US Dollar enjoyed a decent run towards the upside against the Canadian Dollar. However, the USDCAD pair is facing a monster resistance in the form of a bearish trend line on the hourly chart. The pair has to clear the trend line if it has to ...
The GBPCHF pair gained heavily recently, as there was a lot of buying interest noted in the near term. There was a major bearish trend line on the hourly chart of the GBPCHF pair, which once cleared buyers were seen in control. The pair is now ...
Technical Analysis The GBPJPY pair spiked recently to test the 190.00 resistance area, but failed miserably as the British pound sellers were seen aggressive. The pair traded lower and even managed to clear an important support trend line on the ...
Trading with the help of Engulfing Bars is considered one of the most powerful and widely used strategies. If identified and understood correctly, the engulfing bars—also known as outside bars– can generate the most reliable and accurate signals. ...
Technical Bias: Bullish Key Takeaways: Gold extends winning streak US Factory Orders missed expectations Gold Eyes $1255 in short term Gold extended upside movement on Wednesday, increasing the price of yellow metal to more than $1215, for the ...
Technical Bias: Bullish Key Takeaways: 121.75 remains key hurdle for USDJPY Japan’s manufacturing figure missed expectations Buying on dips still preferred The US Dollar (USD) extended downside movement against the Japanese Yen (JPY) on Monday, ...
The US Dollar (USD) inched higher against the Singaporean Dollar (SGD) on Friday, after printing sharp gains over the past six consecutive months hence increasing the price of USDSGD to more than 1.3250 following the Singapore Gross Domestic Product ...
USD/JPY came close to the 2014 low of 100.75, and found support at 100.82 on 5/20. It has since been rallying as you can see in the 4H chart. Rally stalls ahead of NFP: After 3-wave rally USD/JPY was trading at a rising channel resistance. Traders ...
GBP/USD is showing early signs of a reversal this week. The 4H chart shows a few bearish signs: 1) A break below 1.6760 support pivot. 2) A break below the moving averages (200,100, 50) 3) A break below a rising trendline support that came up from ...
After reaching a high of 1.5585 in March, EUR/CAD has retreated below 1.49 today (5/14). Head and Shoulders: Looking at the daily chart you can argue that a head and shoulders pattern has formed. The shoulders are around 1.53-1.5310, but the ...
The USD/CAD has been in consolidation/congestion since tagging 1.1278, which stands as the 2014 high. You can see a falling wedge, or pennant pattern, which reflects a decrease in volatility as the market consolidates. Actually, you can argue that ...
April retail sales numbers in the US disappointed, but there is still growth and the March numbers were apparently better than first calculated. The breakdown shows that most of the main components saw growth, the most noticeable one being from the ...
It's not a good year to "sell in May and go away". Today (5/12), US stock indices rallied to start the week. The DJIA is making fresh record highs, and the S&P500 is approaching its record high made only last month. DJIA The DJIA has recovered from ...
Last week traders faded EUR, and EUR/GBP broke below a consolidation range that was roughly between 0.8190 and 0.8258. This was on the back of a dovish ECB press conference. Here are a couple of observations in the 4H chart: 1) Alignment of moving ...
The pair traded lower today, breaking below the multi-month low of 1.0858. It is now trading towards a rising trendline from Sept. 2013, and the 200-day SMA. With the oscillators showing oversold condition in the daily chart, we should anticipate ...
Dovish ECB, Reversal in EUR/USD: The ECB held the key interest rate at 0.25%, and the statement did not mention any increased intention to add stimulus measures. The EUR/USD was bullish all week, first breaking above the 1.3905 resistance. Then ...
The USD/CAD has been in a bullish market since at least September 2012, where it rallied from 0.9632 to the 2014 high of 1.1277. You can even argue that the trend started from the 2011-low of 0.9405. Refer to the weekly chart. Topping, Bearish ...
NZD/USD: NZD/USD has been bullish in 2014, but April was a month of bearish correction. Actually, from looking at the 4H chart, you can argue that it has been in consolidation since late March, after which we had 2 biggest downswings in 2014 so far, ...