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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Gold trading idea for the week of 2-October-2017

Gold trading idea for the week of 2-October-2017

Last week, Gold fell significantly after reaching around 1315 level and now sits well below 1300 level. This could be due to Feds who decided to be hawkish recently, rising the possibilities of one more rate hike this year. The kind of candle from last week is what some might call a ‘kangaroo tail’ which suggests a higher possibility of a continuation of the prevailing trend rather than reversal. Therefore it is likely that Gold is headed towards 1250 level. However, if it can break above the top of the…

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EURUSD Trading idea for the week of 2-October-2017

EURUSD Trading idea for the week of 2-October-2017

EURUSD pair fell during the first few days of last week but during Thursday and Friday, it formed bullish candles. Fundamental Analysis European Central Bank looks like they could begin their tightening policy soon. Even thought Feds are also hawkish at this moment, the favour is likely to be on the the Euro as the data coming from US are mixed. Technical Analysis As daily bullish candles have been formed for Thursday and Friday, it looks likely that the pair could go higher from here as shown in the chart….

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AUDUSD Technical Analysis – Pin Bar

AUDUSD Technical Analysis – Pin Bar

Technical Analysis A pin-bar has formed on the daily chart around the support zone of 0.7804. Pin bars are often accurate when they form around support and resistance zones. Therefore, the pair is very much likely to make a move towards the resistance zone as shown in the chart. The target area is around 0.8053. We prefer long positions especially if the pair can move above the high of the daily bullish pin bar. Unless exhaustive candles form around the resistance zone, the long positions can be held for long-term.

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EURUSD Trading idea – 3 black crows on daily chart

EURUSD Trading idea – 3 black crows on daily chart

EURUSD has fallen for the 3rd consecutive day and has formed a 3 black crows candlestick pattern on daily chart. One of the fundamental factors that support this move was the comments by Fed Chair Yellen. The dollar  maintained the strong footing set at the beginning of the week, after US Fed Chair Yellen said on Tuesday that, while a gradual approach to hikes is appropriate in the light of subdued inflation, she also added that the Central Bank should be wary of moving too gradually. This makes us believe that…

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GBPUSD Trading Idea for the week of 25 September 2017

GBPUSD Trading Idea for the week of 25 September 2017

Fundamental Analysis British Pound acquired strength last week from some of its own fundamentals as the UK government managed to get the Brexit bill passed through Parliament smoothly and so far, they have handled the process very well. We also had reports that the PM May had offered 20 billion euros in return for free market access and this was positive news for the UK economy and this helped to keep The Cable strongly bid for the week. The economic data coming out of UK was also positive for the…

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USDCAD Trading Idea for the week of 25 September 2017

USDCAD Trading Idea for the week of 25 September 2017

Technical Analysis USDCAD is currently at a level where it has retested the massive uptrend line that had been recently broken. After the retest the pair actually has retreated a little bit. We can also see that the price is capped by a downtrend line which has been tested and seemingly respected. Fundamental Analysis Bank of Canada is likely to continue to be aggressive given that the economic numbers coming out of Canada continues to be good in general. Unless price of crude oil rolls over to the downside, Canadian…

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Jamie Dimon warns that Governments will close down bitcoin and cryptocurrencies if they get too big

Jamie Dimon warns that Governments will close down bitcoin and cryptocurrencies if they get too big

Eventually governments will close down cryptocurrencies: JPMorgan CEO Eventually governments will close down cryptocurrencies: JPMorgan CEO JPMorgan Chase Chief Executive Jamie Dimon has laid into bitcoin and digital currencies once again, warning that governments will shut them down if they grow too large. “Right now these crypto things are kind of a novelty. People think they’re kind of neat. But the bigger they get, the more governments are going to close them down,” Dimon said during an interview with CNBC-TV18 in New Delhi on Friday. Dimon was concerned that with…

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AUDUSD looks like it is headed towards 0.7870

AUDUSD looks like it is headed towards 0.7870

The AUD/USD pair fell to its lowest in three weeks, reaching as low as 0.7916.  The Australian Dollar was hit by comments from RBA’s Lowe, who repeated that that rises in global rates do not have automatic implications for Australia, somehow indicating that the current on-hold stance will be extended. Also, affecting the commodity-linked currency were gold prices, which has now broken the support at 1300. In the short-term, the pair is set to extend its slide, with the next relevant support being 0.7870, the low set on August 31st….

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Gold Trading idea for 21 September 2017

Gold Trading idea for 21 September 2017

Price of gold has broken down below 1300 support level. Spot Gold hit new low at $1293 today, in extension of Wednesday’s fall after Fed signaled possible additional rate hike this year. Trading idea. Since it has broken down the important support level of 1300, and the fed is seen as hawkish, we expect the price of gold to drop to the levels of 1282.

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