AUDUSD trading idea for the week of 23-April-2018

AUDUSD trading idea for the week of 23-April-2018

Even though Australian Dollar initially tried to rally during the course of the week ended, it rolled over and fell below 0.77 handle. The beginning of the fall was due to the disappointing employment data from Australia. However, there is support to be found just below. There is a massive up-trend line that has held for quite some time. Trading idea for the coming week The up trendlines can offer strong support but can also unwind the pair to the downside significantly if it is broken. Therefore it is best…

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AUDUSD Trading idea for the week of 02-April-2018

AUDUSD Trading idea for the week of 02-April-2018

We can see that AUDUSD pair has formed a bearish doji candle on the weekly charts. However, we can also see that the pair is nearby and almost bouncing from the support provided by a strong weekly and daily uptrend line. It is possible that the pair could go lower looking for a solid support from the uptrend line. This could coincide around 0.7600 area. A strong bounce from there could be a good buying opportunity. If 0.7600 area does not hold, 0.7500 could provide support. Trading preference A daily…

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AUDUSD trading idea for the week of 15-Jan-2018

AUDUSD trading idea for the week of 15-Jan-2018

When we look at the weekly charts we can see that AUDUSD has rallied for 5 consecutive weeks. It has now run into resistance around 0.79000. Therefore there is a possible pull back before continuing to the upside. If you want to trade the retrachment to the downside, it is a good idea to use a lower time frame. Let us have a look at H4. Trading Preference It is a good idea to wait for the price to break to the downside of the current up channel on 4-hour…

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AUDJPY Forecast for the week of 11-Dec-2017

AUDJPY Forecast for the week of 11-Dec-2017

AUDJPY moved back and forth during the course of the last trading week. The weekly candle is a mixed candle which more-or-less showed lack of direction last week. Therefore we can look at shorter time frame to analyse this market. Fundamental Analysis The pair rallied on Friday which seems to be a result of the upward move of USDJPY. Positive retail sales data helped Australian Dollar last week, while Quarterly and Yearly GDP figures missed the expectation. Overall fundamentals are not bad for the Australian Dollar. The Feds are also…

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GBPUSD trading idea for the week of 04-Dec-2017

GBPUSD trading idea for the week of 04-Dec-2017

We can see that GBPUSD initially pulled back during the last trading week but later rallied significantly and reached above 1.3540 before again pulling back down below 1.3500 level. We saw a few weeks ago that the uptrend line provided support for the pair and it has been rallying ever since, even though it looks choppy on the lower time frames. Trading Preference We need to watch how¬† far the market reacts to Trump’s victory on passing the Tax-bill. That could probably bring pull back into this pair. However, those…

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USDCAD trading idea for the week of 04-Dec-2017

USDCAD trading idea for the week of 04-Dec-2017

USDCAD rallied from Monday to Thursday last week. However, on Friday it fell to give back it all back and even fell past the opening level from Monday. There were more reasons for the fall. One thing was the news from USA about General Flynn. The second and a big reason for the fall was the good economic data from Canada. Employment figures overwhelmingly beat the expectation and GDP figures too showed positive results. The pair is now in a support area that we can observe in various time frames….

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Update for EURUSD for Thursday 30-Nov-2017

Update for EURUSD for Thursday 30-Nov-2017

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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Guidelines for trading based on the signals given on this website

Guidelines for trading based on the signals given on this website

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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GBPUSD Trading idea for the week of 27-Nov-2017

GBPUSD Trading idea for the week of 27-Nov-2017

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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EURUSD Trading idea for the week of 27-Nov-2017

EURUSD Trading idea for the week of 27-Nov-2017

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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