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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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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