Month: August 2018

EURUSD inverse head & shoulder pattern on H4

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EURUSD 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

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XAUUSD forms a bullish harami 27-Aug-2018

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XAUUSD 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…

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AUDUSD trading idea for the week of 27-August-2018

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AUDUSD 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…

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Bahamas’ Currency Turns To Crypto To Benefit Its Citizens And Stimulate The Economy

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Bahamas’ 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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