EURCHF has seen a parabolic move upwards for the most part of last week. However, it is now facing resistance on the daily timeframe. We can see that the pair has formed a hanging man pattern. It will be a big hurdle to break above the daily resistance. A break below the tail of the hanging man could send the pair looking for the key area of support again. Fundamental Analysis Last week on Thursday, German and french manufacturing data as well as German PPI figures missed their expectation. Overall…
Read MoreEURUSD Trading Idea for the week of 6-April-2019
Last week EURUSD went back and forth in a rather tight range. We are currently just above the support level of 1.1200. Trading Preference – Inverse Head & Shoulder The preference is to buy the pair at this level, based on the strong support level and we can also see Inverse Head & Shoulder pattern as shown on the chart. If the price breaks below 1.1150, it is a very bearish scenario though. So keep caution trading this pair. Disclaimer: Our analysis and forecasts given on this website are just…
Read MoreAUDJPY Trading idea for the week of 8-April-2019
AUDJPY has been in an overall uptrend for the past two weeks. However the currency pair has now reached a massive resistance zone and closed on Friday to form a shooting star on the daily time frame. Trading preference We can look at 4-Hour time frame and look to sell when the rising wedge has been broken. Disclaimer: Our analysis and forecasts given on this website are just our point of view about the market. It is not a trading signal or investment advice. Recommended forex brokers
Read MoreUSDCHF Trading Idea for the week of 06 April 2019
After a big downward move earlier, USDCHF has been consolidating in an upward channel. This is usually termed as a bear flag. Trading preference The price is currently staying around the upper bound of the consolidation channel. This is often a good area to sell for a short term trade, the lower line of the channel being the target. However, we can also see a bigger longer term move, as bear flags when broken, can move down much lower. The case is also made stronger when we look at the…
Read MoreInflated Success: Cryptocurrency Exchange Trading Secrets Revealed
The cryptocurrency market is a high-octane playground for day Lambo dreamers and investors. It has made some super-rich, almost overnight and reduced others to the brink of bankruptcy. And of course, amid all these chaotic happenings is a rambunctious side of the industry, where questionable practices make the market tremendously murky. The cryptocurrency market has led to the fast rise of one too many companies. Two-year-old exchanges are now trading billions of dollars worth of cryptocurrencies every day, something which many traditional financial institutions have struggled to achieve for over…
Read MoreKnowing When to Exit a Winning Trade
You’re in a big winning crypto trade. Your open profits continue to increase every day. Congratulations! But do you know exactly why and when to exit winning trades, before the smart money help themselves to some, or even all, of your hard-won gains? This article will demonstrate several prime, low-risk profit-taking setups that can help you predetermine your trade exits before it becomes obvious to the herd. By exiting ahead of the crowd, you’ll be able to retain far more of your open gains. You’ll also experience less stress and spend less time in the…
Read MoreEURUSD inverse head & shoulder pattern on H4
EURUSD staged a massive rally last week and has closed the week above 1.1600 level. This upward movement has been largely due to USD weakness rather than EURO strength. We can see an interesting pattern on the 4-hour time frame. It is an inverse head & shoulder pattern. This is a very bullish sign for the pair, especially when there are signs that USD may further weaken. Trading preference The preference is to buy the pair, especially if it can break above 1.1630 level (Friday high). Recommended forex brokers
Read MoreXAUUSD forms a bullish harami 27-Aug-2018
A bullish harami has formed on the weekly chart of price of Gold. This is a bullish sign. Gold closed the week above the important level of 1200. The market has bounced from this area previously. We can also see that this move has broken the up trendline on 4-hour charts. Trading preference It is possible that Gold is getting ready to rally as USD is expected to weaken. If you are entering on the H4 chart, it is a good idea to see if there is a retest of…
Read MoreAUDUSD trading idea for the week of 27-August-2018
During the week of 19 August 2018, we saw that Australian Dollar rallied initially but fell vigorously due to political uncertainty in Australia. As the situation has been solved, so has Australian Dollar recovered on Friday. Even with all the trouble, AUDUSD did not fall below the tail of the previous week’s hammer. Fundamentals Analysis After Fed Chair Powell speech on Friday, US Dollar weakened, Gold has shown signs of beginning to rally. This is bullish for the Australian Dollar. At this point, the tariff warn between USA and China…
Read MoreBahamas’ Currency Turns To Crypto To Benefit Its Citizens And Stimulate The Economy
Bahamas’ currency intends to expand into digital money. The Commonwealth of the Bahamas established the Bahamian dollar (BSD) as legal tender in 1966, replacing the British Pound Sterling (GPB). The Bahamian dollar pegs to the U.S. dollar (USD) on a one-to-one basis. The Central Bank of the Bahamas started providing Bahamas currency as the official supplier in 1974. Bahamas Announces A Central Bank Digital Currency (CBDC) On Friday, June 22 at the Bahamas Blockchain and Cryptocurrency Conference, Deputy Prime Minister K. Peter Turnquest announced the Central Bank of the Bahamas intends…
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