GBPUSD Trading idea for the week of 30-Oct-2017

GBPUSD Trading idea for the week of 30-Oct-2017

During the course of last week GBPUSD rallied due to GDP figures beating the expectation. However, the move to 1.3250 was met with resistance which in turn led the pair to fall towards the uptrendline that we have been following for quite some time now. The trend line could offer support for this pair. However, if the pair falls, breaking through the trend line, it could go down towards 1.30 level. If the trend line does offer support, the pair could again move up towards the resistance again. Trading preference…

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USDCAD trading idea for the week of 30-Oct-2017

USDCAD trading idea for the week of 30-Oct-2017

US Dollar went up rather significantly against Canadian Dollar last week, slicing through 38.2 Fibonacci level. However, the pair pulled back after reaching the resistance around 50.0 Fibonacci level. When we look at the daily chart, the same movement can be visualized as a shooting star by the close of Friday. Trading preference Next week the pair could initially fall towards 38.2 Fibo level around 1.2720 and around there if a supportive candle on daily chart or a bullish candle on the H4 chart could be a good opportunity to…

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EURUSD trading idea for the week of 30-Oct-2017

EURUSD trading idea for the week of 30-Oct-2017

EURUSD went up as the week started but then it broke down significantly. We can notice that the break to the downside came after a ‘head & shoulder’ pattern formation on theĀ  daily chart. Based on the move after the head & shoulder, the pair could drop further to the 1330 region, especially if Fibonacci 38.2 level is broken on its way. However, when we look at the weekly chart, this downward movement can be considered as a retrachment after such a parabolic upward move for most part of the…

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USDCAD trading idea for the week of 23-Oct-2017

USDCAD trading idea for the week of 23-Oct-2017

Fundamental Analysis USDCAD rallied significantly on Friday due to the disappointing retail sales report from Canada. We can see that the Canadian Dollar has given up all it gained when Bank of Canada delivered as surprise interest rate hike in September. Technical Analysis The pair is currently at a resistance zone. A break above this zone will send the pair much higher. In fact it looks very much likely that it is going to happen. Bank of Canada is not so hawkish. Feds are Hawkish. This, coupled with the balance…

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GBPUSD trading idea for the week of 23-Oct-2017

GBPUSD trading idea for the week of 23-Oct-2017

Technical Analysis GBPUSD fell down significantly but not enough to break the weekly up trend line. In fact the pair found support before touching the trendline. This makes us believe that the pair is in fact trying to build enough momentum to go higher to test the resistance of 1.3650. Bank of England is likely to raise interest rates. The Cable will likely to see continued bullish pressure. Trading Preference. Our preference is to buy this market until the uptrend is broken and also until 1.30 level is also broken….

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GBPUSD Trading Idea for the week of 16-October-2017

GBPUSD Trading Idea for the week of 16-October-2017

The weekly up trend line shown in the chart and the psychological level of 1.30 have proven to be a strong support for GBPUSD pair and hence it bounced off significantly from that zone to the upside. Therefore, any break above the top of the weekly candle is a buying opportunity. This pair could be on its way to test the resistance of 1.3650 once again. That areas can once again offer strong resistance. Therefore bounce back and forth between the up trend line and the resistance of 1.3650 could…

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Gold trading idea for the week of 16 October 2017

Gold trading idea for the week of 16 October 2017

Technical Analysis We can see that, Gold has rallied significantly after the hammer that was formed the previous week as shown in the chart below. In fact it closed the week above 1300 resistance level. Fundamental Analysis The economic data that is coming out of US are not overly impressive. There are also unsettled geopolitical tensions that could move gold markets higher. Trading preference With the technical showing a good setup for the gold to go higher and with fundamentals also not opposing this setup, our preference is to go…

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How to avoid getting scammed: ‘A fool and his money are soon parted’

How to avoid getting scammed: ‘A fool and his money are soon parted’

In this article I will be looking at the tactics the scammers use in-order to trick the inexperienced newbies to lure them to send money to them. Take note that forex industry has nothing to do with scammers, and they should not be associated or referred as ‘forex scammers’. These people just claim to be expert traders and account managers to make you believe they are your ticket to becoming rich quickly. Therefore I urge those who are new and interested to start trading to take note of the following…

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GBPUSD Trading Idea for the week of 9-October-2017

GBPUSD Trading Idea for the week of 9-October-2017

The Cable has been a currency that takes its turns in primary trend changes from the political events most notably from Brexit uncertainty for quite some time now. In the face of recent inability of the government of Teresa May to get any substantial break-through out of negotiations with EU. This, together with an overall hawkishness from Feds in USA has resulted in a massive fall last week. The pair could not break above the strong resistance of 1.3650, and has fallen towards the round figure of 1.30. A break…

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