September 2017 – Page 2 – I Love Trading

GBPUSD Trading idea for the week of 18 September 2017

September 17, 2017 Admin

GBPUSD continued with its strong upward momentum that that had been the case for the past few weeks, and in fact it exploded to the upside last week. The fall of GBP since mid year 2016 had been mainly due to worries around the uncertainties of Brexit. However, this fear had subsided for now and inflation has become the main focus. As a result of that BoE had become more hawkish in their meeting last week. The result of this was the explosion to the upside last week. Trading idea…

USDCAD trading idea for the week of 11 September 2017

September 10, 2017September 10, 2017 Admin

Bank of Canada surprised the markets on Wednesday, 6 September. As a result of that USDCAD sliced down through an established weekly uptrend line. At this point, selling the rallies is the way to go. Any exhaustive candle formed after a rally is an opportunity to sell, unless the pair can go back above the mentioned uptrend line again, which is far fetched at this moment. 1.20 is a psychological support level, a break below it could send the pair further down to 1.18 level and even to 1.15 level.

EURUSD Forecast and Trading Idea for the week of 11 September 2017

September 10, 2017September 10, 2017 Admin

Fundamental & Technical Analysis The EUR/USD pair broke out to the upside last week, it broke above the top of the shooting star from the previous week. Even though it pulled back a bit it was able to close above the 1.20 level. Therefore the traders would most likely buy on dips to gain value. The market is a bit overbought, but the interest rate expectations out of the Federal Reserve are diminishing at the moment, and that should continue to favour the EUR. Ultimately though, we are overbought, so…

Gold Price forecast for the week of 4-September 2017

September 3, 2017September 3, 2017 Admin

Technical Analysis Gold price broke out of the consolidation area, to the upside of 1300 level. This level had been a massive resistance area for quite sometime. By closing the weekly candle clearly well above 1300 indicates that it is trying to continue to the upside. At this point, short-term pullbacks can offer value as 1300 level will now be that strong support. Fundamental Analysis Price of Gold needed a push strong enough to drive it to the upside. Many attempts failed before it finally broke to the upside last…