Price broke below the two moving averages during yesterday’s US session and managed to recover its losses today. EUR/USD is currently sticking to the upper resistance and the 300 MA for the past 3 hours. Price is unable to over come this level and the range is set between the current resistance and the last […]

Read More

Prices on Gold inched a bit higher after a weekly doji which was few pips above the long term ascending trend line. In case of a retracement, Gold will reach the 23.6% fib located at 1182. We will wait patiently to see if the price pulls down and picks up our pending long order or […]

Read More

USD/CHF is also in a range play between 1.0314 & 1.0221 as the upper band and between 1.0296 & 1.0242 as the lower band. Price bounced off the upper resistance of the lower band yesterday and is clinging back to this resistance today. USD Consumer confidence increased to the highest level in the last 15 […]

Read More

The view is unchanged as the festival mood is here and we also draw near to the year close. Prices have shifted into a consolidation mode and bears are looking to break below the 1.0427 after ascending to the 300 MA and being kicked off this level. The immediate support is the 100 and 200 […]

Read More

European calendar is empty for the day and is doing nothing to support the minor bullish tone on EUR/USD. Except for a minor rally in Gold, all other prices are limited with few majors trading near the closing levels seen on Friday. EUR/USD is ranging within 1.0468 to 1.0427, about 40 pips in range and […]

Read More

Gold is few pips away from hitting our pending long order and it aligns with the previous page USD/JPY which points to a retracement. We are expecting for a sudden downward spike towards 1104 and anticipating for our order to be picked up. The other important factor is the weekly doji and has formed right […]

Read More

Dollar Yen is out of the boundary and is trading away from the ascending channel but is still within the range. The present range pattern is due to the thin volume in the FX market and a technical bounce off the longer term upper channel. By placing a fib from the lower point 102 to […]

Read More

Investors offloaded their positions ahead of Christmas and stocks drifted lower during yesterday’s trading session. European markets will remain quite for the day while Asian markets have already retreaded. This thin volume will give a window for the hungry investors to re-attack the financial markets during such seasons. It is advised that all traders place […]

Read More

Gold reversed its losses today and surged back above 1.135 level and the reasons for the retracement was unclear at the time of the move. However, further investigation revealed that Russian Central Bank released certain information which mentioned that the RCB has been increasing its Gold reserves. The downward trend still continues and the mid […]

Read More

Dollar Yen has been trending within a medium term ascending channel since the end of October. But the price stepped outside the channel for 16 hours during the U.S. Presidential election and got back on track. This pattern represents the retracement from a large scale lower trend and this ascending channel can also be viewed […]

Read More