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EUR/JPY Downward Channel Drives Green Pips – Qucik Update on Signal!

The EUR/JPY extended its previous session losing streak and dropped below 119.785 level, mainly due to increased safe-haven demand of Japanese yen. The reason for the EUR/JPY pair declines could also be attributed to the risk-off market sentiment underpinning the safe-haven Japanese yen and contributing to the currency pair gains. 

Gold Sideways Trading Continues – Watchout Quick Trade Setup!

The safe-haven asset failed to break its previous session's confined trading range near below $1,730 level but erased its some losses from an intraday low mainly due to the risk-off market sentiment triggered by the fresh US-China tension. The second wave of coronavirus (COVID-19) also fueled the risk-off market tone, which eventually provided some support to the gold prices. At the moment, the yellow-metal press is currently trading at 1,724.06 and consolidating in the range between 1,717 and 1,730.07.

Increased Safe Haven Appeal Weighs on USD/CHF – Quick Update on...

The USD/CHF pair seems to be trading sideways within a narrow trading range of 0.9520 - 0.9510 aimed at increased risk sentiment. The reason for the soured risk sentiment could be attributed to the statement that the Dragon Nation recently imposed strict measures on air travel to stop outbreak 2.0 and planned to impose further lockdown restrictions as the new coronavirus cases rose above 557 far. 

AUD/USD Soars Amid Symmetric Triangle Pattern & 50 EMA Crossover! 

The AUD/USD pair was closed at 0.68886 after placing a high of 0.69766 and a low of 0.68332. Overall the movement of AUD/USD pair remained bearish throughout the day. The decreased risk appetite after increasing fears of the second wave of coronavirus in China and renewed lockdown restrictions to hold the spread of the virus again in Beijing. 

Gold: Moving South Below the 50-Period SMA

XAUUSD had a bounce off its lows that began on Jun 15 at 13:00 the bounce re3ached the $1730 level and began to move sideways, making lower lows. The last interaction made an evening star with a large bearish candlestick. We think this is a good short setup to scalp with a target at the current 200-hour SMA for a nice and fast reward. The R/r factor is just 1 but the odds of the pair going south are very high, which makes the trade appealing. We see also that the Stochastics made a crossover to near the middle of the range, suggesting an increased bearish momentum.

USDCHF Intraday Upward Breakout

Description

Crude Oil Breaks Above Descending Triangle Pattern – Checkout My Sell...

The WTI crude oil has violated the descending triangle pattern, which was providing resistance at 37.20 area. Above this level, we may see the WTI prices heading north towards the next resistance area of 39.37. It seems like the demand for crude oil is gaining in the wake of positive sentiment over the COVID19 vaccine. 

EUR/USD Breaks Above Downward Channel – Who’s Up for Buy Signal? 

During the European session, the EUR/USD pair flashed red and dropped to 1.1230 before bouncing off towards the 1.1270 level. The broad-based U.S. dollar just started to erase its early-day losses and gained some bullish traction due to the risk-off market sentiment, which also exerted some downside pressure on the currency pair. 

XAU/USD Enters Oversold Zone – Brace for Quick Long Trade!  

The safe-haven-metal prices rose slightly to $1,731 before falling to intraday low pf at 1,708 level due to the risk-off market sentiment triggered by the second wave of coronavirus (COVID-19) outbreak which tends to underpin the safe-haven assets like gold. On the other hand, the traders did not give any significant attention to the upbeat comments from the Dallas Federal Reserve President Robert Kaplan. 

AUD/USD Bearish Engulfing Signals Selling Bias – Brace for Quick Short...

The AUD/USD pair was closed at 0.68540 after a high of 0.70039 and a low of 0.68392. Overall the movement of AUD/USD pair remained bearish throughout the day. The risk perceived Aussie posted losses on Thursday in risk-off market sentiment, which was caused by the gloomy outlook of the US economy by Federal Reserve in its monetary policy meeting. The FED in its report said that the impact of coronavirus could last for a more extended period of time than Fed expected, and recovery would also be slower than expected.

Investors Triggers Profit Taking In USD/CAD – Let’s Short for Quick...

The USD/CAD Currency Pair Hit The Fresh Session High Around 1.3500 Marks Due To Combination Of Factors. The USD/CAD pair was closed at 1.36295 after placing a high of 1.36317 and a low of 1.33969. Overall the movement of USD/CAD remained bullish throughout the day.

Gold Signal Closed In Profit – Quick Update Today! 

The safe-haven-metal prices failed to maintain its previous day gains and dropped to $1,730 from $1,740, the highest since June 02 while representing 0.35% losses on the day as the broad-based U.S. dollar recently took a U-turn from the multi-day low backed by the fresh US-China tussle and contributed to the yellow-metal losses as they both have an inverse relationship. On the other hand, the risk-off market sentiment triggered by fresh conflict between US-China turned out to be one of the key factors that kept a lid on any additional losses in the gold.  

EURAUD Reveals Strength Signals (UPDATE)

In our previous market analysis corresponding to EURAUD cross (read here,) we commented that the price action revealed potential raises, supported by the price action and confirmed by the RSI oscillator.

EURAUD Reveals Strength Signals

Description

EUR/USD Ascending Triangle Pattern Ready to Breakout! 

The EUR/USD is trading slightly bullish and took bids around above the 200-week simple moving average (SMA) of 1.1360 level mainly due to the broad-based U.S. dollar weakness ahead of U.S. Federal Reserve policy meeting.The EUR/USD is trading at 1.1355 and consolidates in the range between the 1.1332 - 1.1370. However, the Fed’s monetary policy statement is scheduled at 1800 GMT and will be followed by a press conference from Chairman Jerome Powell.

USD/JPY Helps Us Secure Early Morning Gains – Quick Update! 

The USD/JPY pair is trading with a bearish bias around 107.350 in the wake of increased haven appeal and weaker U.S. dollar. Today, the key focus will be on the FOMC monetary policy decision, which is scheduled to be announced later this Wednesday. The Fed is widely anticipated to keep interest rates unchanged at the end of a two-day meeting. 

Gold Prices on a Bullish Run – U.S. China Tensions in...

On Tuesday, the safe-haven extends its previous session bullish moves and soars to 1,715 level after dipping to $1,698, mainly due to the broad-based U.S. dollar bearish bias ahead of the U.S. Federal Reserve policy meeting. The gold's bullish bias could also be attributed to the risk-on market sentiment backed by the growing optimism over a sharp V-shaped economic recovery from the coronavirus pandemic, which recently dominated the US-China tussle. The yellow-metal prices are currently trading at 1,715 and consolidate in the range between the 1,700 - 1,725. However, the geopolitical tensions in Korea, Libya, and concerning China turned out to be the key factors that is keeping a lid on any additional losses in the gold, at least for now.

AUD/USD Ascending Triangle Breakout – Quick Update on Trading Signal! 

The AUD/USD currency pair flashed green and succeeded to break the hurdle above 0.7000 while taking rounds around the 0.6995 level. However, the uptick upticks in the currency pair could be attributed to the broad-based U.S. dollar selling bias. The upticks in the pair were further bolstered by the risk-on market sentiment backed by the multiple factors, which eventually underpinned the risker assets like the Australian dollar. 

Gold Prices on a Bullish Run – Quick Update on Trading...

The safe-haven-metal prices remain depressed under the lowest level of more than a month around $1,680, mainly due to the risk-on market sentiment in the wake of better-than-expected U.S. employment report. The reason for the upbeat trading sentiment could also be attributed to the news about the merger of drug majors AstraZeneca and Gilead, which eventually exerted some downside pressure on the safe-haven assets. 

Gold Slips Sharply Amid Stronger NFP Figures – Quick 100 Pips...

The precious metal gold prices fell sharply from 1,694 level to 1,671 level on the release of U.S. NFP figures. Earlier today, the gold was supported as the concerns between the United States and China getting worse day by day and not showing any sign of slowing down, rather U.S. Secretary of State Mike Pompeo showed love about Nasdaq's move on listing rules for Chinese companies. 

USD/CAD Breaks Lower – Quick Update on Sell Signal! 

During Friday's European trading session, the USD/CAD currency pair flashing red and dropped below the key 1.3500 psychological marks due to the selling bias in the broad-based US dollar triggered by the optimism about a sharp V-shaped recovery for the global economy. The modest upticks in the crude oil prices underpinned the demand for the commodity-linked currency the loonie and exerted some downside pressure on the currency pair. At this particular moment, the USD/CAD currency pair is currently trading at 1.3485 and consolidates in the range between the 1.3459 - 1.3513.

EURCAD Piercing Pattern and Breakout

EURCAD has been moving in a slightly descending channel, here shown as a linear regression channel.  The last iteration of the Price drove it from the top of it to near the bottom. There, it made a double bottom figure and headed up again. After being rejected by the central regression line (dotted line), the Price retraced slightly, then, four hours ago, The Price made a piercing candlestick followed by a large candlestick that went above the last high.

USD/CAD Choppy Session Continues – Brace for Breakout! 

The USD/CAD was closed at 1.34942 after placing a high of 1.35722 and a low of 1.34798. Overall the movement of USD/CAD remained bearish throughout the day. The USD/CAD pair posted losses for the 3rd consecutive day on Wednesday amid the weakness on the US dollar due to risk-on market sentiment. The reopening of economies has boosted the expectations of faster economic recovery and provide confidence to the investors that central banks and governments were there to underpin the global economy.

Sellers Loom in the NZD/USD Pair – Fibonacci Retracement Expected! 

The NZD/USD pair is trading bearish at 0.6375 level in the wake of profit-taking in New Zealand. The growing optimism about the easing of lockdown restrictions in most of the countries fueled the hopes for the sharp V-shaped recovery for the global economy, which eventually undermined the safe-haven U.S. dollar. The reason for the selling bias in the U.S. dollar could be associated with the absence of any conflicting news from the US-China, which ultimately boosted the market's risk sentiment.

AUD/USD Enters Overbought Zone – Brace for Retracement

The AUD/USD was closed at 0.68969 after placing a high of 0.68985 and a low of 0.67747. Overall the movement of AUD/USD pair remained bullish throughout the day. The AUD/USD pair extended its previous day's gains and continued it's 3 days bullish rally for another day and moved above 0.68900 level on Tuesday on the back of the risk-on market sentiment. The risk-sensitive Aussie gained a lot from the increased risk appetite of the market on Tuesday.

Gold Violated Upward Channel – Stronger Dollar to Drive Sell-off! 

The safe-haven-metal prices failed to stop its previous day losing streak and dropped to $1,725.96 while representing 0.12% losses on the day as the US President Donald Trump did not use military power to stop the riots which fueled the risk-on market sentiment and pushed investors to withdraw their money from the safe-haven assets. 

EUR/JPY On A Bullish Run – Quick Update on Trading Signal! 

The EUR/JPY is trading with a bullish bias at 121.400 after placing a high of 121.556. Overall the movement of EUR/JPY remained bullish throughout the day. The pair EUR/JPY started its week on the front foot as the Japanese yen faced pressure despite the increased protests across the US, which lead most of the investment into the European markets. 

Safe Haven Boosts Gold – Who’s Up for Bullish Trade? 

The precious metal gold is trading with a bullish bias around 1,742 area, bouncing off above start support level of 1,736 level on the 4-hour chart. Most of the buying is fundamentally driven as the broad-based U.S. dollar is experiencing a sell-off on the day as investors turned into the safe-haven assets due to the latest retaliation between the U.S. and China. 

AUD/USD Take Bids Over 0.6830 Marks – RBA Left Rate Unchanged!

The AUD/USD currency pair flashed green and drew bids around above 0.6840 marks after the Reserve Bank of Australia (RBA) left monetary policy unchanged, which boosted the Aussie dollar and contributed to the currency pair's gains. The Australian central bank gave optimistic comments about the domestic financial system while saying that the downturn's intensity will be less than earlier expected, which also exerted some bullish impact on the Aussie. 

Gold Violates Triple Top Pattern – Quick Update on Buy Signal! 

The yellow metal gold prices surged above $1735 and continued its two days upward rally and posted gains for 3rd consecutive day. The demand for the safe-haven asset increased at the end of the week due to increased uncertainty in the market after the comments of the chairman of the Federal Reserve & the President of the United States on Friday.

NZD/USD Ascending Triangle Pattern in Play – Quick Update on Signal! 

The NZD/USD currency pair flashed green and rose to 0.6230 level, mainly due to weaker crude oil prices, which undermined the commodity-linked currency the loonie and exerted some bullish impact on the currency pair. While, the broad-based U.S. dollar is selling bias rolled out to be one of the key determinants that held a lid on any additional gains in the currency pair, at least for now. As in result, the currency pair remained confined in a three-day-old trading range. 

XAU/USD Trades Bullish Amid Trade Tensions – Update on Buy Signal! 

The safe-haven-metal prices took bids and rose to $1,721 while represented 0.15% gains on the day due to the risk-off market sentiment in the wake of intensifying tussle between the United States and China over Hong Kong. As well as, the US dollar selling bias also boosted the yellow-metal. At the press time, the safe-haven-metal prices are currently trading at 1,720.83 and consolidating in the range between 1,712.92 and 1,722.94. However, investors are cautious about placing any position ahead of an expected announcement by President Donald Trump on China later in the day.

XAU/USD Trades Bullish Amid Trade Tensions – Update on Sell Signal! 

The yellow metal gold traded sharply bullish to hold around 1,720 area. Most of the buying in gold was safe haven driven, leading the gold prices towards the highs of 1,726. Below this, the XAU/USD is likely to close a doji candle, which suggests odds of bearish bias retracement in gold.

BTCUSD: Consolidation after double bottom

Bitcoin made a high-volume bullish candle after a double bottom touching the lower edge of its bullish channel. After bouncing off of its 200-SMA has created a consolidation channel in which you see two engulfing candles, after a bounce from the 50% level of the initial bull candlestick.

XAU/USD Soars Amid Renew US-China Tensions – Update on Buy Signal! 

The yellow metal gold traded sharply bullish to hold around 1,719 area. Most of the buying in gold was safe haven driven, which lead the gold prices towards the high's of 1,719 level. 

GBPJPY Bearish Engulfing after double top at the upper edge of...

GBPJPY has been moving in a descending channel since April 10. The action created a lot of volatility, driving prices back and forth from top to bottom of the channel. The last iteration drove its price to surpass the upper limit, a +2 sigma event, which means the pair was overpriced if we compare it with what we may call the fair price, which is the linear regression channel, the red mid-line.

GBP/USD Dropped From Two-Weeks High – Broad-Based US Dollar Strength! 

The GBP/USD currency pair failed to extend its previous day gains and dropped from the near 2-weeks high to 1.2320, mainly due to broad-based US dollar strength in the wake of risk-off market sentiment as tensions between the US-China are getting worse day by day. Whereas, the buyers failed to cheer the latest optimism about drug treatment for famous coronavirus (COVID-19). The GBP/USD is trading at 1.2323 and consolidating in the range between 1.2310 and 1.2348.

CADCHF Breakout of Triangle Pattern – Who’s Up for Buy Position? 

The CAD/CHF pair is trading with a bullish bias at 0.7020 level, having violated the resistance level of 0.7000 level. It seems like the improved crude oil prices and reduced demand for safe-haven swiss franc is brining buyers for the CAD/CHF pair. 

Safe Haven Gold Slips – Downward Channel In Play! 

Gold prices were closed at $1710.53 after placing a high of $1735.38 and a low of $1708.78. Overall the movement of gold remained bearish throughout the day. Gold prices followed its previous day's trend and continued to fall on Tuesday and reached near the level of $1700 support on the back of increased risk appetite in the market. The Risk-on market sentiment was caused by the reopening of the US economy from the coronavirus induced lockdowns.

Gold Choppy Sessions Continues – Wait for Breakout! 

The safe-haven-metal prices regain its bullish traction and rose from a one-week low of $1,717.34 to $1,734.05, mainly due to the risk-off market sentiment in the wake of US-China intensified tussle and coronavirus (COVID-19) second wave fears. On the other hand, the U.S. dollar also draws safe-haven bids and managed to limit any additional gains in the gold prices. At this moment, the safe-haven-metal prices are currently trading at 1,734.97 and consolidating in the range between 1,724.50 and 1,735.55.

EUR/GBP Breaks Upward Trendline – Quick Update on Sell Trade! 

The EUR/GBP pair continues to exhibit selling bais since European session as it's prices fell from 0.8900 level to 0.8943 level on the back of weaker Euro and stronger GBP. The risk-off market sentiment was further bolstered by Trump's action to impose restrictions on the use of China technology Huawei. In the meantime, the U.S. started an investigation about the origin of COVID-19, which also weighed on the market risk sentiment. 

GBP/USD Crosses Below 50 EMA – Brace for a Sell Position! 

The GBP/USD currency pair failed to stop its 3-day losing streak and dropped to 1.2212 and represented 0.09% losses on the day as the BOE Governor Andrew Bailey’s recent indication about negative rates weighed on the Cable. Moreover, the reason for the pair declines could also be attributed to the broad-based U.S. dollar strength in the wake of intensifying US-China tussle. The GBP/USD is trading at 1.2220 and consolidating in the range between 1.2201 and 1.2239. However, the traders will be cautious to place any strong position ahead of the U.K. Retail Sales data.

USD/CAD Ascending Triangle Breakout – Brace for a Buy Position! 

The USD/CAD pair was closed at 1.39549 after placing a high of 1.39701 and a low of 1.38908. Overall the movement of USD/Cad pair remained bullish throughout the day.

AUD/USD Breakout of Ascending Triangle Pattern – Is It Going After...

The AUD/USD prices have exhibited sharp bullish bias during the European and the U.S. session in the wake of stronger Aussie. The AUD/USD pair is currently holding around 0.6609. Meanwhile, the minutes of the Reserve Bank of Australia revealed that the Central Bank admitted that the Australian economy was set to experience a contraction due to coronavirus pandemic. Bank also believed that fiscal and monetary measures would reduce the impact of the virus crisis on the economy.