Market Updates and Analysis for a better informed trading
We observed earlier that EURUSD had begun to make new waves to the upside. Below is what it looked like before the market opened this week. Now we can see that the pair has done the expected correction to the downside just like how it was drawn. After touching the support zone, and a bullish candle has formed after a hammer. Therefore I have opened a long position and have issued a buy signal on the signals section.
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I make every effort to analyze the market as as best as I can before I post a signal. However, the market does not move according to anyone’s wish. Therefore, here are few things to consider if you decide to enter trades based on the signal I give. Use proper money and risk management. Even the best traders can have bad trades. I recommend a lot size of no more than 0.02 lot for every $100 in your account (for metatrader). It will also be a good idea to do…
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The weekly up-trendline that we have been following for quite some time did happen to be an area that has offered support for this pair once again. And hence, the pair has rallied after touching the trendline. Trading preference At this point the preference is to go long, but it could be a good idea to wait for a slight pull pack to around 1.3300 area. However, if the price goes above the weekly close, I will enter long on this pair.
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We can see that EURUSD has rallied and formed an impulsive candle on the weekly chart. This has confirmed the end of the correction the pair had been doing earlier. Trading Preference The only preference at this time will be to buy the pair. Pull backs on the shorter timeframe charts could offer value. Therefore let us look at 4-hour chart for a good entry point. The pair has made two consecutive higher highs on 4-hour chart and therefore, we can wait for a bullish candle around the lower line…
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Technical Analysis We have been observing a weekly up trendline that has offered support for GBPUSD for quite some time. We can see that last week and the week before too, the trendline has been respected and it has proven to be an area of massive support. Trading preference At this point I think it is a good opportunity to go long on this pair. The pair could be on its way towards 1.3650 level which has proven to offer strong resistance.
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Technical Analysis We can see that USDCAD has been in an overall down trend for the past two weeks. Currently it is testing an up trend line which makes up the upward move all the way from September. We can also see that the price had slided down earlier through Fibonacci 23.6 level in the previous week’s candle. Trading Preference If the pair is bearish in the short-term. Therefore, a break below the up trend line could send the pair looking for 38.2% which is around 1.2588. If that level…
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Technical & Fundamental Analysis USDCAD initially tried to rally, but 1.29 level proved to be resistive. Several attempts to sustain above 1.29 failed and the pair slided down later during the week. On Friday, the disappointing NFP report from USA and the improvement in the employment figures from Canada only helped the pair to drop further. Trading preference Due to the above factors, I prefer to sell this pair in the coming week. It seems like the pair will be drawn towards the up trendline shown in the above chart.
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Technical and Fundamental factors EURUSD has been falling after the head & shoulder pattern formed two weeks ago. Last week, even a disappointing NFP report from USA did not help this pair rally, but rather it looks set to fall much further, to fulfill the anticipated move of the head & shoulder. A dovish Draghi also helps this move. Trading preference The idea is to sell the pair when it breaks below the close of the last week’s candle. The target could be around 1.30 level. But a bounce up…
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Even though The Cable tried to rally initially during the course of last week in anticipation of the interest rate hike, the actual hike sent the pair lower. This was due to the fact that BoE is dovish even though interest rate was increased. Now the pair is testing the up trend line we have been following for quite some time. If the pair breaks below the trendline, it could send send the pair much lower, especially if it can also break 1.30 level. Trading preference Wait for the break…
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It is quite usual to come across someone who had become a victim of a scam of some sort. People fall victim to scam for many reasons. The most obvious reason is that they have been promised huge returns and rich life by the scammer, while the victim was mesmerized by the promise of richness, too greedy to see the obvious red signs or they simply didn’t have enough knowledge to recognize a scam. Earlier, I wrote an article about the tactics used by the scammers and how to avoid…
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