Category: Forex Signals

Signals will list Live Trading Signals with Entry, Stop-loss, and Profit Targets (Future addition)

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Forex Signals

AUD/USD Bullish Bias Continues to Dominate – Three White Soldiers in Play! 

The AUD/USD pair was closed at 0.71398 after placing a high of 0.71513 and a low of 0.70954. Overall the movement of the AUD/USD pair remained bullish throughout the day. After posting massive losses on Tuesday, the AUD/USD pair reversed its direction on Wednesday and started to rise and managed to recover most of its previous daily losses. 

The AUD/USD pair was closed at 0.71398 after placing a high of 0.71513 and a low of 0.70954. Overall the movement of the AUD/USD pair remained bullish throughout the day. After posting massive losses on Tuesday, the AUD/USD pair reversed its direction on Wednesday and started to rise and managed to recover most of its previous daily losses. 

The AUD/USD pair was closed at 0.71398 after placing a high of 0.71513 and a low of 0.70954. Overall the movement of the AUD/USD pair remained bullish throughout the day. After posting massive losses on Tuesday, the AUD/USD pair reversed its direction on Wednesday and started to rise and managed to recover most of its previous daily losses. 

The rise in AUD/USD pair on Wednesday could also be attributed to Wall Street’s rebound amid confusion over the US stimulus plan and uncertainty about the upcoming US Presidential elections. On Tuesday, Trump broke off negotiations with Democrats and said that Republicans would not negotiate on the next round of stimulus measures until after the election. He added that a major stimulus bill would be passed if he wins. This statement from him caused a bid drop in Wall Street on Tuesday over concerns whether he will win or not as stimulus will be dependent on that.

However, on Wednesday, Trump again dismissed his previous statement and called for more financial support for Americans, especially airline workers and small businesses. This news helped US stocks to reverse and move higher and recover some of its previous daily losses. The rebound in Wall Street added in the risk sentiment and helped the riskier AUD/USD currency pair move higher.

The risk sentiment was also supported by the latest announcement from the US Food and Drug Administration (FDA) that said that vaccines’ availability would be delayed until after the US Presidential elections. This news also added strength to the AUD/USD pair due to its riskier nature.

Meanwhile, the Federal Reserve issue minutes from its September meeting, and the minutes failed to provide any meaningful direction to the pair as Fed officials called for further support from US Congress for supporting the economic recovery.

Minutes also showed that economic data were improving, but the economic growth was still bumpy. The President of Minneapolis Federal Reserve, Neel Kashkari, said that if the next round of stimulus package was not approved, then the US economy will face enormous consequences. He stated that further delay would cause a much worse downturn in the economy as there were no moral hazards in delivering more financial aid. The Fed’s comments also raised risk sentiment and helped the riskier Aussie gain traction in the market and add further to the AUD/USD pair’s an upward trend.


Daily Technical Levels

Support Resistance

0.7105 0.7162

0.7072 0.7186

0.7048 0.7219

Pivot point: 0.7129

The AUDUSD is likely to trade with a choppy within a narrow trading range of 0.7203 to 0.7098. On the four hourly timeframes, there’s an upward trendline that extends support at 0.7098 level, and above this, the pair has the potential to bounce off until 0.7175 and 0.7203 level. Conversely, the bearish breakout of 0.7020 can lead AUD/USD pair further lower towards 0.7060 and 0.7010. Good luck!

Entry Price – Buy 0.7162

Stop Loss – 0.7122

Take Profit – 0.7202

Risk to Reward – 1:1

Profit & Loss Per Standard Lot = -$400/ +$400

Profit & Loss Per Micro Lot = -$40/ +$40

Fellas, now you can check out forex trading signals via Forex Academy mobile app. Follow the links below.

iPhone Users: https://apps.apple.com/es/app/fasignals/id1521281368

Andriod Users: https://play.google.com/store/apps/details?id=academy.forex.thesignal&hl=en_US

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Forex Signals

EURAUD Breakout Retest Buy

Flow Assessment

Overall buy flow, sellers are reacting off this area, but buys are holding.

Location Assessment

Price is at a buyers area and is being defended.

Momentum Assessment

There was a buildup of buyer positions and now price seems like it is retesting the area

Entry Price – Buy 1.68645

Stop Loss – 1.64283

Take Profit – 1.65866

Risk to Reward – 1:1.82

Profit & Loss Per Standard Lot = -$406/ +$738

Profit & Loss Per Micro Lot = -$40.6/ +$73.8

Fellas, now you can check out forex trading signals via Forex Academy mobile app. Follow the links below.

iPhone Users: https://apps.apple.com/es/app/fasignals/id1521281368

Andriod Users: https://play.google.com/store/apps/details?id=academy.forex.thesignal&hl=en_US

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Forex Signals

Swing Reversal On EUR/CAD Currency Pair

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Forex Signals

GBPNZD Breakout Anticipation Buy

Flow Assessment

Price is in a range, but it got to this range from an up-flow

Location Assessment

Price is near the buy-side of the range

Momentum Assessment

Buyers have built up positions and there has been an SL hunt, so the buys are ready

Entry Price – Buy 1.95324

Stop Loss – 1.95096

Take Profit – 1.95665

Risk to Reward – 1:1.46

Profit & Loss Per Standard Lot = -$154.4/ +$225.6

Profit & Loss Per Micro Lot = -$15.44/ +$22.56

Fellas, now you can check out forex trading signals via Forex Academy mobile app. Follow the links below.

iPhone Users: https://apps.apple.com/es/app/fasignals/id1521281368

Andriod Users: https://play.google.com/store/apps/details?id=academy.forex.thesignal&hl=en_USF

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Forex Signals

GBP/USD Trades Choppy – Brexit Woes and National Lockdown Hits! 

Today in the European trading hours, the GBP/USD currency pair managed to stop its previous session bearish moves and took bids around closer to the 1.2900 level. However, the bullish trend around the currency pair could be associated with the weaker U.S. dollar. The U.S. dollar lost its early-day gains as the market trading sentiment turned positive, which trimmed the U.S. dollar’s safe-haven bids and contributed to the currency pair gains. 

Today in the European trading hours, the GBP/USD currency pair managed to stop its previous session bearish moves and took bids around closer to the 1.2900 level. However, the bullish trend around the currency pair could be associated with the weaker U.S. dollar. The U.S. dollar lost its early-day gains as the market trading sentiment turned positive, which trimmed the U.S. dollar’s safe-haven bids and contributed to the currency pair gains. 

Today in the European trading hours, the GBP/USD currency pair managed to stop its previous session bearish moves and took bids around closer to the 1.2900 level. However, the bullish trend around the currency pair could be associated with the weaker U.S. dollar. The U.S. dollar lost its early-day gains as the market trading sentiment turned positive, which trimmed the U.S. dollar’s safe-haven bids and contributed to the currency pair gains. 

On the contrary, the downbeat catalysts, like uncertainty over the Brexit talks and concerns over national lockdown, become the key factors that kept the lid on any additional currency pair gains. At this particular time, the GBP/USD currency pair is currently trading at 1.2872 and consolidating in the range between 1.2867 – 1.2930.

Despite concerns about the coronavirus cases in some nations and U.S. President Donald Trump’s decision to end negotiations with Democrats on the economic stimulus package, the investors continued to cheer the latest reports suggesting that the U.S. President Trump showed a willingness to pass $25 billion for Airline Payroll Support and $135 billion for the Paycheck Protection Program for small businesses. This, in turn, provided a fresh boost to the market’s risk sentiment and trimmed the U.S. dollar’s safe-haven bids.

As in result, the broad-based U.S. dollar failed to maintain its positive traction and edged lower, at least for now. Moreover, the losses in the U.S. dollar could also be associated with the fresh risk-on mood. However, the U.S. dollar losses were further bolstered by the renewed concerns about the already shaky U.S. economic recovery. Thus, the losses in the U.S. dollar kept the GBP/USD currency pair higher. Whereas, the U.S. Dollar Index, which tracks the greenback against a basket of six other currencies, was up 0.1% at 93.737.

At the Brexit front, the Brexit related uncertainties remain on the card. As per the latest reports, the Irish Foreign Minister Simon Coveney said that the European Union (E.U.) Chief Brexit Negotiator Michel Barnier will not agree on intensified discussions unless the U.K. moves its stance on state aid. Furthermore, the news that the European states push for a hardliner in fisheries and knowingly delay the negotiations exerted extra downside pressure around the British Pound, which could be considered one of the key factors that kept the lid on any additional gains in the currency pair.

Also capping the pair’s gains could be the COVID-19 worries over the rise in northern England and looming concerns over national lockdown weigh the cable. Looking forward, the market traders keeping their eyes on the Fed Chair Jerome Powell’s scheduled speech. In the meantime, the updates surrounding the fresh Sino-US tussle, as well as the coronavirus (COVID-19), could not lose their importance.


Daily Support and Resistance

S1 1.2673

S2 1.279

S3 1.286

Pivot Point 1.2907

R1 1.2978

R2 1.3025

R3 1.3142

Entry Price – Buy 1.28932

Stop Loss – 1.28532

Take Profit – 1.29332

Risk to Reward – 1:1

Profit & Loss Per Standard Lot = -$400/ +$400

Profit & Loss Per Micro Lot = -$40/ +$40

Fellas, now you can check out forex trading signals via Forex Academy mobile app. Follow the links below.

iPhone Users: https://apps.apple.com/es/app/fasignals/id1521281368

Andriod Users: https://play.google.com/store/apps/details?id=academy.forex.thesignal&hl=en_US

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Forex Signals

USD/CHF Trades Bearish Downward – Weaker Dollar in Play! 

During the Wednesday’s Asian trading hours, the USD/JPY currency pair failed to stop its previous sessU.S.n bearish trend and took further offers below the 0.9170 level. However, the reason for the bearish tone around the currency pair could be associated with the broad-based U.S. dollar weakness, triggered by the renewed concerns about the already shaky U.S. economic recovery. 

During the Wednesday’s Asian trading hours, the USD/JPY currency pair failed to stop its previous sessU.S.n bearish trend and took further offers below the 0.9170 level. However, the reason for the bearish tone around the currency pair could be associated with the broad-based U.S. dollar weakness, triggered by the renewed concerns about the already shaky U.S. economic recovery. 

During the Wednesday’s Asian trading hours, the USD/JPY currency pair failed to stop its previous sessU.S.n bearish trend and took further offers below the 0.9170 level. However, the reason for the bearish tone around the currency pair could be associated with the broad-based U.S. dollar weakness, triggered by the renewed concerns about the already shaky U.S. economic recovery. 

Apart from this, the upbeat market sentiment also undermined safe-havU.S. U.S. dollar and contributed to the currency pair losses. On the contrary, the U.S. positive tone around the equity market undermined the safe-haven Swiss franc, which becomes the fU.S.tor that helps the USD/CHF currency pair limit its deeper losses. Currently, the USD/CHF currency pair is currently trading at 0.9168 and consolidating in the range between 0.9160 – 0.9186.

The market trading sentiment remained supported by reports suggesting that the U.S. President Trump showed a willingness to pass $25 billion for Airline Payroll Support and $135 billion for small businesses for the Paycheck Protection Program. The U.S. positive data provided a fresh boost to the market’s risk sentiment and trimmed the U.S. dollar’s safe-haven bids.

However, the optimism around the equity market was unaffected by U.S. President Donald Trump’s decision to cancel the talks with Democrats on theU.S.conomic stimulus package to boost the coronavirus-hit economy. It is worth recalling that the theU.S. President Donald Trump canceled talks with Democrats over the stimulus package, which raised doubts about the U.S. economic recovery. This, in turn, led in no small fallU.S.n the U.S. equity markets on Tuesday, but the reaction turned out to be short-lived.

As a result of the upbeat markeU.S.sentiment, the broad-based U.S. dollar failed to gain any positiU.S. traction during the European trading session. Besides, the losses could be associated with the renewed concerns about the already shakyU.S.S economic recovery, which also undermine the broad-based U.S. dollar. However, the U.S. dollar losses became the key factor that kept the currency pair under pressure. U.S.ereas, the U.S. Dollar Index, which tracks the greenback U.S.ainst a basket of six other currenciU.S., was up 0.1% at 93.737.

Looking forward, the market traders keeping their eyes on theU.S. Chair Jerome Powell’s scheduled speech. In the meantime, the updates surrounding the fresh Sino-US tussle, as well as the coronavirus (COVID-19), could not lose their importance.


Daily Support and Resistance

S1 0.9127

S2 0.9164

S3 0.9185

Pivot Point 0.9202

R1 0.9222

R2 0.9239

R3 0.9277

The USD/CHF pair is trading with a bearish bias at 0.9165 level, forming a downward channel on the 4-hour timeframe. On the lower side, the bearish trend continuation is likely to drive the selling trend until the 0.9140 support level. At the same time, the MACD is also forming smaller histograms than before, suggesting selling bias in the market. Here’s a quick trade plan… 

Entry Price – Sell 0.91736

Stop Loss – 0.92136

Take Profit – 0.91336

Risk to Reward – 1:1

Profit & Loss Per Standard Lot = -$400/ +$400

Profit & Loss Per Micro Lot = -$40/ +$40

Fellas, now you can check out forex trading signals via Forex Academy mobile app. Follow the links below.

iPhone Users: https://apps.apple.com/es/app/fasignals/id1521281368

Andriod Users: https://play.google.com/store/apps/details?id=academy.forex.thesignal&hl=en_US

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Forex Signals

GBPNZD Swing Failure Sell

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Forex Signals

EUR/JPY Extends Bullish Bias Amid Faded Safe Haven – Signal Update 

During the Wednesday’s Asian trading hours, the EUR/JPY currency pair extended its Asian session winning streak and remain bullish around above 124.50 level mainly due to a fresh and robust rebound in the equity markets, which undermined the Japanese yen’s safe-haven demand and turned out to be the key factor that extending some support to the USD/JPY currency pair. However, market traders digested the US President Donald Trump’s decision to cancel talks with Democrats on the stimulus package. This was witnessed after the steep fall in the US equity markets turned out to be short-lived. 

During the Wednesday’s Asian trading hours, the EUR/JPY currency pair extended its Asian session winning streak and remain bullish around above 124.50 level mainly due to a fresh and robust rebound in the equity markets, which undermined the Japanese yen’s safe-haven demand and turned out to be the key factor that extending some support to the USD/JPY currency pair. However, market traders digested the US President Donald Trump’s decision to cancel talks with Democrats on the stimulus package. This was witnessed after the steep fall in the US equity markets turned out to be short-lived. 

During the Wednesday’s Asian trading hours, the EUR/JPY currency pair extended its Asian session winning streak and remain bullish around above 124.50 level mainly due to a fresh and robust rebound in the equity markets, which undermined the Japanese yen’s safe-haven demand and turned out to be the key factor that extending some support to the USD/JPY currency pair. However, market traders digested the US President Donald Trump’s decision to cancel talks with Democrats on the stimulus package. This was witnessed after the steep fall in the US equity markets turned out to be short-lived. 

On the contrary, the dismal German industrial figures and coronavirus woes in Europe ten undermine the shard currency and become the key factor that kept the lid on any additional gains in the currency pair. As of writing, the EUR/JPY currency pair is currently trading at 124.64 and consolidating in the range between 123.86 – 124.72.

As we already mentioned, the Industrial Production in Germany unexpectedly dropped in August, as per the official data showed on the day, suggesting that the manufacturing sector’s recovery is losing momentum. Apart from this, the bearish sentiment around the shared currency was further bolstered by the World Health Organization’s (WHO) Regional European Director Hans Kluge warnings that Europeans suffer “pandemic fatigue” from the disruption caused by the rapid spread of the coronavirus. Thus, it was seen as one of the key factors that capped further currency pair gains.

On the contrary, the positive mood around the equity markets, triggered by a strong pickup in the US Treasury bond yields, tends to undermine the Japanese yen’s safe-haven demand and becomes one of the key factors that kept the currency pair intra-day high. It is worth recalling that the US President Donald Trump’s yesterday’s decision to cancel negotiations with Democrats over the stimulus package raised doubts about the US economic recovery. This, in turn, led to a large fall in the US equity markets on Tuesday, but the reaction turned out to be short-lived.

Looking forward, the market traders keeping their eyes on the Fed Chair Jerome Powell’s scheduled speech. In the meantime, the updates surrounding the fresh Sino-US tussle, as well as the coronavirus (COVID-19), could not lose their importance.


Daily Support and Resistance

S1 121.85

S2 122.64

S3 123.04

Pivot Point 123.43

R1 123.83

R2 124.22

R3 125

The EUR/JPY pair is trading with a bullish bias at 124 level as the single currency Euro gained bullish momentum. Simultaneously, the Japanese yen is getting weaker, just like gold amid weakness in the safe-haven appeal. We opened a buying trade over 124.175 level as it was extended by an upward channel on the 2-hour timeframe. Since we are already out, encashing 36 green pips, I would like to take a second trade, perhaps, a selling one below the 125.300 resistance level now. Let’s brace for it! 

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Forex Signals

USDJPY Swing Failure Sell

Flow Assessment

Buyers slowing down at a key sell area on H4.

Location Assessment

Price is close to H4 sellers area and buyers are not breaking through.

Momentum Assessment

Buyers are showing signs of failure on the 2nd try to make a higher high.

Entry Price – Sell 105.611

Stop Loss – 105.945

Take Profit – 104.400

Risk to Reward – 1:3.63

Profit & Loss Per Standard Lot = -$315.7/ +$1145

Profit & Loss Per Micro Lot = -$31.57/ +$114.50

Fellas, now you can check out forex trading signals via Forex Academy mobile app. Follow the links below.

iPhone Users: https://apps.apple.com/es/app/fasignals/id1521281368

Andriod Users: https://play.google.com/store/apps/details?id=academy.forex.thesignal&hl=en_US

 

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Forex Signals

EURAUD Breakout Retest Buy

Flow Assessment

Overall buy flow, sellers are reacting off this area, but buys are holding.

Location Assessment

Price is at a buyers area and is being defended.

Momentum Assessment

This is the 1st test of the buyers area

Entry Price – Buy 1.64844

Stop Loss – 1.64286

Take Profit – 1.65860

Risk to Reward – 1:1.82

Profit & Loss Per Standard Lot = -$406/ +$738

Profit & Loss Per Micro Lot = -$40.6/ +$73.8

Fellas, now you can check out forex trading signals via Forex Academy mobile app. Follow the links below.

iPhone Users: https://apps.apple.com/es/app/fasignals/id1521281368

Andriod Users: https://play.google.com/store/apps/details?id=academy.forex.thesignal&hl=en_US

 

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Forex Signals

Gold Bullish Bias Continues – Upward Channel Plays! 

Today in the European trading session, the yellow metal prices succeeded in stopping its early-day losing streak and took some modest bids in the last hour near above the 1,915 level. However, the overall bullish tone around the bullion prices could be associated with the broadly weaker U.S. dollar as the gold price is inversely related to the U.S. dollar price. The U.S. dollar was being pressured by the upbeat market mood, as well as, the hopes for the latest U.S. stimulus measures also kept the U.S. dollar under pressure. 

Today in the European trading session, the yellow metal prices succeeded in stopping its early-day losing streak and took some modest bids in the last hour near above the 1,915 level. However, the overall bullish tone around the bullion prices could be associated with the broadly weaker U.S. dollar as the gold price is inversely related to the U.S. dollar price. The U.S. dollar was being pressured by the upbeat market mood, as well as, the hopes for the latest U.S. stimulus measures also kept the U.S. dollar under pressure. 

Today in the European trading session, the yellow metal prices succeeded in stopping its early-day losing streak and took some modest bids in the last hour near above the 1,915 level. However, the overall bullish tone around the bullion prices could be associated with the broadly weaker U.S. dollar as the gold price is inversely related to the U.S. dollar price. The U.S. dollar was being pressured by the upbeat market mood, as well as, the hopes for the latest U.S. stimulus measures also kept the U.S. dollar under pressure. 

Apart from this, the U.S. political uncertainty ahead of the presidential election on November 3 kept challenging the market risk-on tone and helped the safe-haven metal. On the contrary, the overnight optimism that the U.S. President Donald Trump discharged from the hospital becomes the key factor that kept the lid on any additional gains in the yellow metal prices. The yellow metal prices are currently trading at 1,916.65 and consolidating in the range between 1,906.76 – 1,918.09.

However, the market trading sentiment kept struggling to extend its previous session positive bias and remained supportive by the latest optimism over the U.S. President Donald Trump’s return to the White House following a 3-day hospital stay due to coronavirus infection. Apart from this, the expectations of further stimulus from America also positively impacted the market trading sentiment. These hopes could be considered as one of the key factors that undermining safe-haven assets, including gold.

Across the Pond, the tensions between China and the U.S. keep gaining market attention and challenged the market risk-on tone. The renewed US-China tussle at the US-China front keeps challenging the market risk mood, adding further pessimism around the currency pair. As per the latest report, the Dragon Nation continues criticizing the U.S. ban on TikTok and WeChat at the World Trade Organization (WTO). These conflicting headlines might help the safe-haven metal prices by increasing the safe-haven demand in the market.

Elsewhere, the upbeat US ISM Services PMI data failed to leave any major impact on the market as the U.S. dollar hit a fresh low. At the USD front, the broad-based U.S. dollar remained depressed as the investors continue to sell U.S. dollars in the wake of the low safe-haven demand in the market. Looking forward, the market traders keeping their eyes on the Fed Chair Jerome Powell’s scheduled speech. In the meantime, the updates surrounding the fresh Sino-US tussle, as well as the coronavirus (COVID-19), could not lose their importance.


Daily Support and Resistance

S1 1847.32

S2 1874.78

S3 1887.18

Pivot Point 1902.24

R1 1914.64

R2 1929.7

R3 1957.16

The yellow metal gold continues to trade bullish at 1,911 levels. The formation of candles beyond the 1,908 mark is likely to support the gold today. On the 4 hour chart, candles closing below 1,908 mark are expected to drive more selling till 1,900 levels, while the bullish breakout of 1,917 resistance may ascertain the next trend in the market. Although we opened a sell trade during the European session in gold, we soon realized that it’s not worth holding gold as it’s forming a bullish setup. The bullish bias remains solid above 1,908. Good luck! 

Categories
Forex Signals

USDJPY Swing Failure Sell

Flow Assessment

Buyers slowing down at a key sell area on H4.

Location Assessment

Price is close to H4 sellers area and buyers are not breaking through.

Momentum Assessment

Buyers are showing signs of failure on the 2nd try to make a higher high.

Entry Price – Sell 105.611

Stop Loss – 105.945

Take Profit – 104.400

Risk to Reward – 1:3.63

Profit & Loss Per Standard Lot = -$315.7/ +$1145

Profit & Loss Per Micro Lot = -$31.57/ +$114.50

Fellas, now you can check out forex trading signals via Forex Academy mobile app. Follow the links below.

iPhone Users: https://apps.apple.com/es/app/fasignals/id1521281368

Andriod Users: https://play.google.com/store/apps/details?id=academy.forex.thesignal&hl=en_US

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EUR/JPY Enters Oversold Zone – Can We Expect Bearish Correction?

The EUR/JPY currency pair extended its Asian session declining streak and remain depressed around below 124.50 level mainly due to the cautious mood around the equity markets, which tend to underpin the Japanese yen’s safe-haven demand and turned out to be the key factor that exerting some pressure on the EUR/JPY currency pair. Apart from this, the latest optimism over the US-Japan relationship provided further support to the Japanese yen, which add further pessimism around the currency pair. 

The EUR/JPY currency pair extended its Asian session declining streak and remain depressed around below 124.50 level mainly due to the cautious mood around the equity markets, which tend to underpin the Japanese yen’s safe-haven demand and turned out to be the key factor that exerting some pressure on the EUR/JPY currency pair. Apart from this, the latest optimism over the US-Japan relationship provided further support to the Japanese yen, which add further pessimism around the currency pair. 

The EUR/JPY currency pair extended its Asian session declining streak and remain depressed around below 124.50 level mainly due to the cautious mood around the equity markets, which tend to underpin the Japanese yen’s safe-haven demand and turned out to be the key factor that exerting some pressure on the EUR/JPY currency pair. Apart from this, the latest optimism over the US-Japan relationship provided further support to the Japanese yen, which add further pessimism around the currency pair. 

On the contrary, the better-than-forecasts German Factory Orders data and positive comments from the ECB policymakers over the EUR economy help the currency pair to limit its deeper losses. As of writing, the EUR/JPY currency pair is currently trading at 1.1780 and consolidating in the range between 1.1766 – 1.1802.

As we already mentioned, the German Factory Orders improved more-than-expected in August, suggesting that the manufacturing sector recovery in Europe’s largest economy is regaining traction. This, in turn, underpinned the shard currency and becomes the key factor that kept the lid on any additional losses in the currency pair. At the data front, the Contracts for goods’ Made in Germany’ came in at +4.5% on the month vs. +2.6% expected and +2.8% last, as per the latest data showed by the Federal Statistics Office showed on the day. Annually, Germany’s Industrial Orders dropped only by 2.2% in the reported month vs. -7.3% previous and -19.9% expectations.

Apart from this, the positive comments from the ECB policymakers over the euro area economy also played its role in capping the currency pair losses. As per the latest comment from the European Central Bank (ECB) policymaker and Irish Central Bank Governor Gabriel Makhlouf, the euro area economy has recovered sharply from the trough seen in April. 

On the contrary, the cautious mood around the equity markets, triggered by the US political uncertainty ahead of the presidential election on November 3, tends to underpin the Japanese yen’s safe-haven demand and becomes one of the key factors that kept the currency pair under pressure. However, the overnight optimism over the US President Donald Trump’s return to the White House recently overshadowed by the prevalent US political uncertainty. In the meantime, the hopes of a compromise over a new coronavirus relief package also failed to boost trading’ sentiment, which is not good for the currency pair.

At the US-China front, the renewed US-China tussle also keeps challenging the market risk mood, which might add further pessimism around the currency pair. As per the latest report, the Dragon Nation continuing criticizing the US ban on TikTok and WeChat at the World Trade Organization (WTO). 

Across the pond, the losses in the currency pair were further bolstered after the US Secretary of State Mike Pompeo said that Japan’s Prime Minister (PM) Yoshihide Suga would strengthen the relationship with the US, which in turn, Japanese yen got impressed and added further downside pressure around the EUR/JPY currency pair.


Technically, the EUR/JPY pair is trading bearish today at 124.200 level, holding over the 38.2% Fibonacci retracement level. Recently, the EUR/JPY formed a bearish engulfing pattern on the 4-hour timeframe that may lead the pair towards 124.055 level. The candle’s closing below 124.055 level may extend the selling trend until the 61.8% Fibonacci retracement level of 123.66. But in case, if the EUR/JPY pair reverses and breaks the resistance level of 124.700 level, then I will consider closing the signal in the loss. Let’s keep an eye on it.

Entry Price – Sell 124.42

Stop Loss – 124.82

Take Profit – 123.92

Risk to Reward – 1:1

Profit & Loss Per Standard Lot = -$400/ +$400

Profit & Loss Per Micro Lot = -$40/ +$40

Fellas, now you can check out forex trading signals via Forex Academy mobile app. Follow the links below.

iPhone Users: https://apps.apple.com/es/app/fasignals/id1521281368

Andriod Users: https://play.google.com/store/apps/details?id=academy.forex.thesignal&hl=en_US

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Forex Signals

GBP/JPY on a Bearish Run – 61.8% Fibonacci Retracement in Play!

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GBP/JPY on a Bearish Run – 61.8% Fibonacci Retracement in Play! 

The GBP/JPY pair failed to keep its early-day bullish momentum and dropped well below the 137 level despite the upbeat market sentiment. However, the prevalent bearish sentiment around the currency pair could be associated with U.K. Housing Equity Withdrawal q/q figures, which fell from -4.5B to -7.7B mark, missing the economists forecast of -4.3B.

Besides this, the currency pair’s declines were further bolstered after the U.S. Secretary of State Mike Pompeo said Japan’s Prime Minister (PM) Yoshihide Suga would strengthen the relationship with the U.S. Thus, the Japanese yen got impressed by the above comments, which adds further downside pressure around the GBP/JPY currency pair. On the contrary, the market upbeat mood, backed by optimism over US President Trump’s health, could be considered one of the key factors that help the currency pair limit its deeper losses. 

At the US-China front, the renewed US-China tussle also keeps challenging the market risk-on mood, which might add further pessimism around the currency pair. As per the latest report, the Dragon Nation recently fueled the Sino-American tussle by criticizing the US ban on TikTok and WeChat at the World Trade Organization (WTO). 

Across the ocean, the currency pair losses got an additional boost after the US Secretary of State Mike Pompeo said Japan’s Prime Minister (PM) Yoshihide Suga is a ‘powerful force for good’, as well as Pompeo further added that he believes Suga will strengthen the relationship with the US.

These positive comments tend to underpin the Japanese yen currency and drag the currency pair lower.

The GBP/JPY has formed a sharp bearish a candle below 137.450 resistance area. Closing of candles below this leve suggests odds of a selling bias in the market, especially when the MACD has also formed a bearish crossover 


Doji candle over a resistance become support level of 1.3245, which signifies weakness in the selling bias. Simultaneously, the USD/CAD’s MACD is forming smaller histograms than before, and it’s an indication of a potential bullish bais. On the lower side, the GBP/JPY pair may drop until 136.500 that marks 38.2% Fibonacci retracement level and even below this until 61.8% Fibo level of 135.940 level. Good luck! 

Entry Price – Sell 136.89
Stop Loss – 137.29
Take Profit – 136.39
Risk to Reward – 1:1
Profit & Loss Per Standard Lot = -$400/ +$400
Profit & Loss Per Micro Lot = -$40/ +$40
Fellas, now you can check out forex trading signals via Forex Academy mobile app. Follow the links below.
iPhone Users: https://apps.apple.com/es/app/fasignals/id1521281368
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Forex Signals

USD/CAD Resistance Become Support Level – Brace for Bullish Signal

During Tuesday’s Asian trading session, the USD/CAD currency pair managed to stop its previous session losses and refreshed daily highs, around the 1.3270 level due to the mixed sentiment around the crude oil prices, which tend to undermine the commodity-linked currency the Loonie and helps the currency pair to put the fresh bids during the early European session.

During Tuesday’s Asian trading session, the USD/CAD currency pair managed to stop its previous session losses and refreshed daily highs, around the 1.3270 level due to the mixed sentiment around the crude oil prices, which tend to undermine the commodity-linked currency the Loonie and helps the currency pair to put the fresh bids during the early European session.

During Tuesday’s Asian trading session, the USD/CAD currency pair managed to stop its previous session losses and refreshed daily highs, around the 1.3270 level due to the mixed sentiment around the crude oil prices, which tend to undermine the commodity-linked currency the Loonie and helps the currency pair to put the fresh bids during the early European session.

On the contrary, the broad-based U.S. dollar weakness, triggered by the combination of factors, could be considered as one of the key factors that kept the lid on any additional gains in the currency pair. As of writing, the USD/CAD currency pair is currently trading at 1.3269 and consolidating in the range between 1.3241 – 1.3274.

Despite the fears of fresh lockdown restrictions in the U.K. and Europe, the equity market sentiment remained well supported by optimism over the U.S. President Donald Trump’s recovery from COVID-19. As per the latest report, the U.S. President Donald Trump returned to the White House after a 3-night hospital stay due to coronavirus infection, which boosted the market risk tone and undermined the safe-haven U.S. dollar.

Apart from this, the possibilities of a soft Brexit remain high, which keeps investors relax. In the meantime, the U.S. House Speaker Nancy Pelosi and the Treasury Secretary Steve Mnuchin keep struggling even to start the stimulus talks, which add further boost around the market trading sentiment.

As a result, the broad-based U.S. dollar remained depressed as the investors continue to sell U.S. dollars in the wake of the market’s low safe-haven demand. Moreover, the U.S. dollar losses could also be associated with the rising hopes that the U.S. Congress will reach an agreement over the latest stimulus measures to control the economic impact of COVID-19. Thus, the U.S. dollar losses become the key factor that cap further gains in the currency pair. Whereas, the U.S. Dollar Index, which tracks the greenback against a bucket of other currencies, dropped by 0.03% to 93.468 by 9:52 PM ET (1:52 AM GMT).

At the crude oil front, WTI crude oil prices still reporting mixed signals. However, the crude oil prices took some bids during the early day, supported by the marker risk-on mood and weaker U.S. dollar. Besides, the crude oil prices’ gains were further supported by the reports that show growing workers’ strike in Norway that could reduce the country’s production capacity. Thus, the crude oil prices’ upticks underpinned the commodity-linked currency, the Loonie, and exerted some downside pressure on the currency pair.

Looking forward, the market traders keeping their eyes on the Fed Chair Jerome Powell’s scheduled speech. In the meantime, the updates surrounding the fresh Sino-US tussle, as well as the coronavirus (COVID-19), could not lose their importance.


Daily Support and Resistance

S1 1.3233
S2 1.3272
S3 1.3292
Pivot Point 1.3312
R1 1.3331
R2 1.3351
R3 1.339

The USD/CAD has closed a Doji candle over a resistance become support level of 1.3245, which signifies weakness in the selling bias. At the same time, the USD/CAD’s MACD is forming smaller histograms than before, and it’s an indication of a potential bullish bais. The USD/CAD may find the next resistance at 1.3305 and 1.3330 level while the support is likely to stay at 1.3245 and 1.3205.

Entry Price – Buy 1.32651
Stop Loss – 1.32251
Take Profit – 1.33051
Risk to Reward – 1:1
Profit & Loss Per Standard Lot = -$400/ +$400
Profit & Loss Per Micro Lot = -$40/ +$40
Fellas, now you can check out forex trading signals via Forex Academy mobile app. Follow the links below.
iPhone Users: https://apps.apple.com/es/app/fasignals/id1521281368
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Forex Signals

AUD/USD Breaking Below Descending Triangle Pattern – Brace for Selling! 

The AUD/USD currency pair failed to extend its early-day bullish moves and dropped below the 0.7200 level despite the upbeat market sentiment and weaker U.S. dollar. Conclusion: as we all know that these both factors tend to support the currency pair; unfortunately, the currency pair was rather unaffected by these positive factors. However, the reason for the ongoing bearish sentiment around the currency pair could be associated with the RBA’s announcement of no rate change, which is seen as negative, or bearish for the AUD currency. 

The AUD/USD currency pair failed to extend its early-day bullish moves and dropped below the 0.7200 level despite the upbeat market sentiment and weaker U.S. dollar. Conclusion: as we all know that these both factors tend to support the currency pair; unfortunately, the currency pair was rather unaffected by these positive factors. However, the reason for the ongoing bearish sentiment around the currency pair could be associated with the RBA’s announcement of no rate change, which is seen as negative, or bearish for the AUD currency. 

The AUD/USD currency pair failed to extend its early-day bullish moves and dropped below the 0.7200 level despite the upbeat market sentiment and weaker U.S. dollar. Conclusion: as we all know that these both factors tend to support the currency pair; unfortunately, the currency pair was rather unaffected by these positive factors. However, the reason for the ongoing bearish sentiment around the currency pair could be associated with the RBA’s announcement of no rate change, which is seen as negative, or bearish for the AUD currency. 

Meanwhile, the losses in the currency pair were further bolstered after the RBA shared a dovish view on the Australian economy, which eventually undermined the Australian dollar and contributed to the currency pair gains. On the contrary, the broad-based U.S. dollar weakness, buoyed by the market risk-on mood, could be considered the key factor that might cap the further downside for the currency pair. Furthermore, the positive reports over the U.S. President Donald Trump’s health also help the currency pair limit its deeper losses. The AUD/USD currency pair is currently trading at 0.7152 and consolidating in the range between 0.7147 – 0.7208.

Despite the ongoing rise in the COVID-19 cases, coupled with the fears of lockdown restrictions, the pair’s loosest trading sentiment has been flashing green since the day started. However, the market trading tone was being supported by the optimism over the U.S. President Trump’s health. As per the latest report, the U.S. President Donald Trump returned to the White House after a three-night hospital stay due to coronavirus infection, which boosted the market risk tone and helped the currency pair to limit its deeper losses. 

However, the concern over the U.S. President Trump’s health remains on the card. It should be noted that the U.S. President Trump released a video to confirm that he will soon trail the presidential election race, after losing a high time off-late. However, the video clip showed that U.S. President Trump’ is still struggling while speaking, raising concerns for his health. Thus, these concerns might keep the market sentiment cautious.

At home, the Reserve Bank of Australia (RBA) kept its cash rate and the targeted yield on 3-year bonds unchanged at 0.25% during the latest announcement. In the meantime, the RBA shared a dovish view on the Australian economy, which undermined the Australian dollar and contributed to the currency pair losses. According to the RBA latest report, Unemployment and underemployment rate are expected to remain high for an extended period, as well as “Wage, and inflation pressures remain very depressed.”.

Furthermore, the reason for the losses in the currency pair could be associated with some repositioning trade ahead of the Australian budget. It should be noted that the Australian government is expected to unveil a fiscal blueprint and introduce other measures to drive the economic recovery from the coronavirus-induced recession. This might weak the AUD demand and drag the currency pair further down.


At the USD front, the broad-based U.S. dollar failed to gain any positive traction on the day amid risk-on market sentiment. Moreover, the U.S. dollar losses could also be associated with the rising hopes that the U.S. Congress will reach an agreement over the latest stimulus measures to control the economic impact of COVID-19. However, the U.S. dollar losses became the key factor that kept the currency pair’s losses limited. Whereas, the U.S. Dollar Index, which tracks the greenback against a bucket of other currencies, dropped by 0.03% to 93.468 by 9:52 PM ET (1:52 AM GMT). Looking forward, the market traders keeping their eyes on the Fed Chair Jerome Powell’s scheduled speech. In the meantime, the updates surrounding the fresh Sino-US tussle, as well as the coronavirus (COVID-19), could not lose their importance.

Daily Support and Resistance

S1 0.7068

S2 0.7112

S3 0.7138

Pivot Point 0.7157

R1 0.7182

R2 0.7201

R3 0.7245

The AUDUSD is likely to trade with a bearish bias today, as we can see on the hourly timeframe, gold has violated an upward trendline support level of 0.7177 level, and the closing of candles below this level is likely to drive selling bias until 0.7160 and 0.7140 level. Selling bias remains dominant today.

Entry Price – Sell 0.71701

Stop Loss – 0.72101

Take Profit – 0.71301

Risk to Reward – 1:1

Profit & Loss Per Standard Lot = -$400/ +$400

Profit & Loss Per Micro Lot = -$40/ +$40

Fellas, now you can check out forex trading signals via Forex Academy mobile app. Follow the links below.

iPhone Users: https://apps.apple.com/es/app/fasignals/id1521281368

Andriod Users: https://play.google.com/store/apps/details?id=academy.forex.thesignal&hl=en_US

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Forex Signals Forex Technical Analysis

AUD/JPY Pair Failed to Gains Positive Traction – Brace for Selling!  

Today in the Asian trading session, the AUD/JPY currency pair failed to keep its early-day bullish momentum and dropped well below the 76.00 level despite the upbeat market sentiment. However, the reason for the prevalent bearish sentiment around the currency pair could be associated with the RBA’s announcement of no rate change, as well as, the RBA has a dovish view on the Australian economy, which could be considered as one of the key factors that undermine the Australian dollar and contributed to the currency pair losses. Across the pond, the currency pair declines were further bolstered after the US Secretary of State Mike Pompeo said Japan’s Prime Minister (PM) Yoshihide Suga would strengthen the relationship with the US. Thus, the Japanese yen got impressed by the above comments, which adds further downside pressure around the AUD/JPY currency pair. 

Today in the Asian trading session, the AUD/JPY currency pair failed to keep its early-day bullish momentum and dropped well below the 76.00 level despite the upbeat market sentiment. However, the reason for the prevalent bearish sentiment around the currency pair could be associated with the RBA’s announcement of no rate change, as well as, the RBA has a dovish view on the Australian economy, which could be considered as one of the key factors that undermine the Australian dollar and contributed to the currency pair losses. Across the pond, the currency pair declines were further bolstered after the US Secretary of State Mike Pompeo said Japan’s Prime Minister (PM) Yoshihide Suga would strengthen the relationship with the US. Thus, the Japanese yen got impressed by the above comments, which adds further downside pressure around the AUD/JPY currency pair. 

Today in the Asian trading session, the AUD/JPY currency pair failed to keep its early-day bullish momentum and dropped well below the 76.00 level despite the upbeat market sentiment. However, the reason for the prevalent bearish sentiment around the currency pair could be associated with the RBA’s announcement of no rate change, as well as, the RBA has a dovish view on the Australian economy, which could be considered as one of the key factors that undermine the Australian dollar and contributed to the currency pair losses. Across the pond, the currency pair declines were further bolstered after the US Secretary of State Mike Pompeo said Japan’s Prime Minister (PM) Yoshihide Suga would strengthen the relationship with the US. Thus, the Japanese yen got impressed by the above comments, which adds further downside pressure around the AUD/JPY currency pair. 

On the contrary, the upbeat market mood, backed by optimism over US President Trump’s health, could be considered one of the key factors that help the currency pair limit its deeper losses. The AUD/USD currency pair is currently trading at 75.64 and consolidating in the range between 75.60 – 76.16. As we already mentioned, the global risk sentiment got a strong boost after US President Trump leaves the hospital and feels “20-years younger”. Despite this, the doubts over Donald Trump’s remain high as a recent video from the American leader showed that he struggles while breathing. Besides, the doubts were further fueled after the White House’s recent confirmation that Trump will be under 24-hour care, and anybody nearing the President will need to wear the PPE kit. 

At the US-China front, the renewed US-China tussle also keeps challenging the market risk-on mood, adding further pessimism around the currency pair. As per the latest report, the Dragon Nation recently fueled the Sino-American tussle by criticizing the US ban on TikTok and WeChat at the World Trade Organization (WTO). 

At the AUD front, the Reserve Bank of Australia (RBA) held its cash rate, and the targeted yield on 3-year bonds unchanged at 0.25% during the latest announcement. In the meantime, the RBA has a dovish view of the Australian economy, which ten underpins the Australian dollar and contributes to the currency pair losses. It should be noted that the RBA confirmed that Unemployment and underemployment are expected to remain high for an extended period. They further added, “Wage and inflation pressures remain very depressed.”

Across the ocean, the currency pair losses got an additional boost after the US Secretary of State Mike Pompeo said Japan’s Prime Minister (PM) Yoshihide Suga is a ‘powerful force for good’, as well as Pompeo further added that he believes Suga will strengthen the relationship with the US. These positive comments tend to underpin the Japanese yen currency and drag the currency pair lower.


Daily Support and Resistance

S1 73.89

S2 74.62

S3 75.05

Pivot Point 75.36

R1 75.78

R2 76.09

R3 76.82

Looking forward, the market traders keeping their eyes on the crude oil supply data from the American Petroleum Institute (API) due later in the day. In the meantime, the updates surrounding the fresh Sino-US tussle, as well as the coronavirus (COVID-19), could not lose their importance.

Entry Price – Sell 75.862

Stop Loss – 76.262

Take Profit – 75.462

Risk to Reward – 1:1

Profit & Loss Per Standard Lot = -$400/ +$400

Profit & Loss Per Micro Lot = -$40/ +$40

Fellas, now you can check out forex trading signals via Forex Academy mobile app. Follow the links below.

iPhone Users: https://apps.apple.com/es/app/fasignals/id1521281368

Andriod Users: https://play.google.com/store/apps/details?id=academy.forex.thesignal&hl=en_US

Categories
Forex Signals

GBPUSD Swing Reversal Sell

Flow Assessment

  • Buyers have been coming up slowly towards the H4 sellers area.
  • Higher highs are being made incrementally, not in a breakout fashion, suggesting a profit-taking move instead of a large order flow

Location Assessment

  • Price is at a key H4 sellers area
  • The recent buyers have been tested and are not able to make higher highs

Momentum Assessment

  • Price has penetrated above the H4 sellers area and taken out some breakout buyer’s buy stops, and the sellers have reacted strongly, suggesting clear defense of that area. This gives us the entry trigger.

Entry Price – Sell 1.2985

Stop Loss – 1.3015

Take Profit – 1.2953

Risk to Reward – 1:07

Profit & Loss Per Standard Lot = -$200/ +$212

Profit & Loss Per Micro Lot = -$20.0/ +$21.2

Fellas, now you can check out forex trading signals via Forex Academy mobile app. Follow the links below.

iPhone Users: https://apps.apple.com/es/app/fasignals/id1521281368

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Categories
Forex Signals

GBPNZD Swing Failure Sell

Flow Assessment

  • In the range shown in the picture, the overall flow is leaning down because sellers have broken a recent low and the buyers are coming back up in a slower fashion

Location Assessment

  • Price is right at the key seller area where the origin of the push that created a new low happened, thus giving us the right to look for sells when the buys fail

Momentum Assessment

  • We do not trade on the 1st seller reaction as the buyers may defend the nearest support strongly and continue making higher highs in their journey
  • When there were lower timeframe signs of rejection for the sellers, we got an indication that sellers may be acting around that area, thus creating an entry trigger.

Note: This is an aggressive entry, 25% of your usual position’s risk can be used. Later, we can add remaining size to the trade once we get more signs that the sells are going to work.

Entry Price – Sell 1.95521

Stop Loss – 1.96001

Take Profit – 1.94171

Risk to Reward – 1:2.81

Profit & Loss Per Standard Lot = -$319/ +$899

Profit & Loss Per Micro Lot = -$31.9/ +$89.9

Fellas, now you can check out forex trading signals via Forex Academy mobile app. Follow the links below.

iPhone Users: https://apps.apple.com/es/app/fasignals/id1521281368

Andriod Users: https://play.google.com/store/apps/details?id=academy.forex.thesignal&hl=en_US

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Forex Signals

USD/JPY Violated Downward Trendline – Quick Update on Signal! 

The USD/JPY currency pair managed to extend its previous session gains and took further bids around well above the mid-105.00 level after posting a one-week low of 104.95 on Friday. However, the currency pair’s sentiment was being supported by the upbeat market mood, which tends to undermine the safe-haven Japanese yen and contributed to the currency pair gains. Apart from this, the Bank of Japan (BOJ) Governor Haruhiko Kuroda shared a negative picture over Japan’s economy and inflation, which added further pressure on the Japanese yen and provided a further boost to the currency pair. 

The USD/JPY currency pair managed to extend its previous session gains and took further bids around well above the mid-105.00 level after posting a one-week low of 104.95 on Friday. However, the currency pair’s sentiment was being supported by the upbeat market mood, which tends to undermine the safe-haven Japanese yen and contributed to the currency pair gains. Apart from this, the Bank of Japan (BOJ) Governor Haruhiko Kuroda shared a negative picture over Japan’s economy and inflation, which added further pressure on the Japanese yen and provided a further boost to the currency pair. 

The USD/JPY currency pair managed to extend its previous session gains and took further bids around well above the mid-105.00 level after posting a one-week low of 104.95 on Friday. However, the currency pair’s sentiment was being supported by the upbeat market mood, which tends to undermine the safe-haven Japanese yen and contributed to the currency pair gains. Apart from this, the Bank of Japan (BOJ) Governor Haruhiko Kuroda shared a negative picture over Japan’s economy and inflation, which added further pressure on the Japanese yen and provided a further boost to the currency pair. 

On the contrary, the broad-based U.S. dollar, triggered by the low safe-haven demand in the market, becomes the key factor that capped further upside momentum for the currency pair. Currently, the USD/JPY currency pair is currently trading at 105.65 and consolidating in the range between 105.28 – 105.68.

As we already mentioned, market trading sentiment has been gaining positive traction since the day started and supported by the optimism over the U.S. President Donald Trump’s recovery from COVID-19. It should be noted that the Trumps’ doctors told that President Trump was doing well and could be discharged from his military hospital as soon as Monday. This positive news urged investors to withdraw their money from safe-haven assets. As in result, undermined the safe-haven Japanese yen and contributed to the currency pair gains.

Apart from this, the updates suggest that the national leader spoke to U.S. Treasury Secretary Steve Mnuchin over the weekend for the COVID-19 stimulus, which raised hopes that deadlock could end sooner. This also favored the risk-tone sentiment and undermined the safe-haven Japanese yen. 

Across the pond, the currency pair’s gains were further bolstered after the Bank of Japan (BOJ) Governor Haruhiko Kuroda shared the gloomy picture over Japan’s economy, which adds additional pressure around the JPY provided further boost to the currency pair. As per the latest report by Bank of Japan (BOJ) Governor Haruhiko Kuroda, “Japanese economy in severe condition but picking up.” He further added, “Uncertainties surrounding the outlook remain extremely high.”

However, the market trading sentiment was unaffected by the fears of fresh lockdown restrictions in Britain and Europe. Whereas, the usage of dexamethasone in President Trump’s treatment keep questioning the market optimists.

At the USD front, the broad-based U.S. dollar extended its previous session bearish bias and failed to gain any positive traction during the European trade Monday amid risk-on market sentiment. Apart from this, the greenback losses could also be associated with Friday’s released mixed U.S. data, which instantly raised doubts over the U.S. economic recovery. However, the U.S. dollar losses might stop bulls from placing any strong position and keep a lid on any further gains for the USD/JPY pair. Whereas, the U.S. Dollar Index Futures that tracks the greenback against a basket of other currencies dropped by 0.13% to 93.787 by 10:12 PM ET (2:12 AM GMT).

Moving ahead, the market traders will keep their eyes on the U.S. economic docket, which will show the release of the ISM Non-Manufacturing PMI. This data might affect the U.S. dollar price dynamics and provide fresh direction for the pair. In the meantime, the updates surrounding the fresh Sino-US tussle, as well as the coronavirus (COVID-19), could not lose their importance.


Daily Support and Resistance

S1 103.88

S2 104.6

S3 104.98

Pivot Point 105.32

R1 105.7

R2 106.05

R3 106.77

The USD/JPY is also trading neutral at 105.560 amid thin trading volume and China national holiday today. The downward trendline is extending resistance at 105.560 level on the two-hourly timeframes today. The closing of Doji candles below the trendline is suggesting neutral bias among traders. The technical side of USD/JPY may extend the pair lower towards 105.200, and the series for EMA is now developing support at 105.400 level. On the flip side, the bullish breakout of 105.590 level may lead the haven pair towards 105.800. Consider taking buying trade over 105.450 level and selling below the same today. 

Entry Price – Buy 105.602

Stop Loss – 105.202

Take Profit – 106.002

Risk to Reward – 1:1

Profit & Loss Per Standard Lot = -$400/ +$400

Profit & Loss Per Micro Lot = -$40/ +$40

Fellas, now you can check out forex trading signals via Forex Academy mobile app. Follow the links below.

iPhone Users: https://apps.apple.com/es/app/fasignals/id1521281368

Andriod Users: https://play.google.com/store/apps/details?id=academy.forex.thesignal&hl=en_US

Categories
Forex Signals

EUR/JPY on a Bullish Run Despite the Negative Eurozone Inflation – Signal Update

During Monday’s early European trading session, the EUR/JPY currency pair managed to extend its previous session bullish bias and remained bullish near the 123.91 level. However, the bullish bias around the currency pair was supported by the market risk-on sentiment, which undermines the safe-haven Japanese yen and contributes to the currency pair gains. Across the pond, the Bank of Japan (BOJ) Governor Haruhiko Kuroda shared a negative picture over Japan’s economy and inflation, which added further pressure on the Japanese yen and provided an additional boost to the currency pair. 

During Monday’s early European trading session, the EUR/JPY currency pair managed to extend its previous session bullish bias and remained bullish near the 123.91 level. However, the bullish bias around the currency pair was supported by the market risk-on sentiment, which undermines the safe-haven Japanese yen and contributes to the currency pair gains. Across the pond, the Bank of Japan (BOJ) Governor Haruhiko Kuroda shared a negative picture over Japan’s economy and inflation, which added further pressure on the Japanese yen and provided an additional boost to the currency pair. 

During Monday’s early European trading session, the EUR/JPY currency pair managed to extend its previous session bullish bias and remained bullish near the 123.91 level. However, the bullish bias around the currency pair was supported by the market risk-on sentiment, which undermines the safe-haven Japanese yen and contributes to the currency pair gains. Across the pond, the Bank of Japan (BOJ) Governor Haruhiko Kuroda shared a negative picture over Japan’s economy and inflation, which added further pressure on the Japanese yen and provided an additional boost to the currency pair. 

On the other hand, the market risk-on tone also supported the shared currency, which boosted the currency pair. Conversely, the negative Eurozone inflation and expectations for additional European Central Bank (ECB) easing could be considered as one of the major factors that kept the lid on any further gains in the currency pair. At the moment, the EUR/JPY currency pair is currently trading at 123.91 and consolidating in the range between the 123.33 – 123.94.

The market trading sentiment remains well supported by the optimism generated by President Trump’s doctors’ comments that he could be discharged from the coronavirus hospital as soon as Monday. This, in turn, boosted the market sentiment and helped the currency pair pick some fresh bids on the day. However, the market risk-on sentiment was witnessed after the S&P 500 futures jumped and rose more than 0.6% on the day.

Besides, the S&P 500 futures’ upticks were further bolstered by optimism over the US aid package talks. The national leader spoke to US Treasury Secretary Steve Mnuchin over the weekend for the COVID-19 stimulus, which raised hopes that deadlock could end sooner. This also favored the risk-tone sentiment and undermined the safe-haven Japanese yen. 

Apart from this, the reason for the upbeat market sentiment could also be associated with fresh hopes of a soft Brexit, triggered after the weekend meeting between the UK PM Boris Johnson and EU Commission President Ursula von der Leyen. This, in turn, undermined the safe-haven Japanese yen currency and extended support to the currency pair. 

Across the pond, the reason for the currency pair bullish bias could also be associated with the latest reports suggesting that the Bank of Japan (BOJ) Governor Haruhiko Kuroda sounded gloomy over the outlook on Japan’s economy, which keeps the Japanese yen currency under pressure and contributed to the currency pair gains. As per the latest report by Bank of Japan (BOJ) Governor Haruhiko Kuroda, “Japanese economy in severe condition but picking up.” He further added, “Uncertainties surrounding the outlook remain extremely high.”

On the contrary, the ECB’s pressure to do more easing is rising after weak Eurozone inflation, which tends to support the shared currency and becomes the key factor that cap further gains in the currency pair. The cost of living in the shard currency area plunged deeper into the negative territory last month. 

Looking forward, the market traders keeping their eyes on the news concerning the American President’s health. Apart from this, the US ISM Services PMI for September, expected 56.0, will be key to watch. In the meantime, the updates surrounding the fresh Sino-US tussle, as well as the coronavirus (COVID-19), could not lose their importance.


Daily Support and Resistance

S1 121.85

S2 122.64

S3 123.04

Pivot Point 123.43

R1 123.83

R2 124.22

R3 125

The EUR/JPY pair is trading with a bullish bias at 124.200 levels, having an immediate resistance at 124.250 levels. On the 4 hour timeframe, the EUR/JPY pair faces resistance at 124.349, extended by an extending triple top level. The closing of the recent bullish engulfing candle over 123.850 level supports a strong bullish bias, which is why we have opened a buy signal in the EUR/JPY pair. Check out a trading plan below…

Entry Price – Buy 123.97

Stop Loss – 123.57

Take Profit – 124.37

Risk to Reward – 1:1

Profit & Loss Per Standard Lot = -$400/ +$400

Profit & Loss Per Micro Lot = -$40/ +$40

Fellas, now you can check out forex trading signals via Forex Academy mobile app. Follow the links below.

iPhone Users: https://apps.apple.com/es/app/fasignals/id1521281368

Andriod Users: https://play.google.com/store/apps/details?id=academy.forex.thesignal&hl=en_US

Categories
Forex Signals

USDCAD Breakout Anticipation Sell

Flow Assessment

  • Daily sell flow is down
  • Sellers have built up positions on the H4 and penetrated lows in H1

Location Assessment

  • Price is at a M15 retest level after H1 sellers cleared the recent low
  • From the H4 perspective, there is space for the sell to perform until it reaches the next set of buyers (pink line in H4 picture above)

Momentum Assessment

  • We checked to see that the break of the H1 low was not a stop-loss hunt by waiting for the M15 retest and failure to make an equal high
  • Entry trigger activated after sellers showed interest to defend the M15 level

Entry Price – Sell 1.3271

Stop Loss – 1.3292

Take Profit – 1.3228

Risk to Reward – 1:2:05

Profit & Loss Per Standard Lot = -$157/ +$325

Profit & Loss Per Micro Lot = -$15.7/ +$32.5

Fellas, now you can check out forex trading signals via Forex Academy mobile app. Follow the links below.

iPhone Users: https://apps.apple.com/es/app/fasignals/id1521281368

Andriod Users: https://play.google.com/store/apps/details?id=academy.forex.thesignal&hl=en_US

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Forex Signals

GBPNZD Breakout Retest Sell

Flow Assessment

  • The bigger flow is towards buyers in the daily, but price is reacting of a historical seller’s area on H4

Location Assessment

  • The buyers on M15 have reached the historical H4 seller’s area and are showing reactions
  • This suggests that a fresher buy price may be needed to resume the daily flow, which explains the TP placement

Momentum Assessment

  • The M15 buyers look strong, but they are unable to clear the H4 seller area. Price showed some signs of rejections, giving the entry trigger

Entry Price – Sell 1.94995

Stop Loss – 1.95755

Take Profit – 1.94145

Risk to Reward – 1:1.12

Profit & Loss Per Standard Lot = -$504/ +$564

Profit & Loss Per Micro Lot = -$50.4/ +$56.4

Fellas, now you can check out forex trading signals via Forex Academy mobile app. Follow the links below.

iPhone Users: https://apps.apple.com/es/app/fasignals/id1521281368

Andriod Users: https://play.google.com/store/apps/details?id=academy.forex.thesignal&hl=en_US

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Forex Signals

EURAUD Breakout Retest Buy

Flow Assessment

  • The daily is in a range, but recently there has been a strong move up by buyers that have built up positions. These buyers achieved something by penetrating old highs.
  • On the H4, seller moves are slowing down near the key reaction area.
  • On the H1, recent sellers failed to show defence of the key level

 

Location Assessment

  • Price is at a key reaction area on the daily, thus giving us reason to look at a lower timeframe for proof of genuine reaction structure
  • Price made a swing failure on the H4, taking out possible sell stops. This gives us more confidence in the trade as some people have gotten caught trading the wrong way
  • On the H1, we wait for the price to reach the last recent seller area and look for failure in defending that zone

Momentum Assessment

  • On the H4, the sell moves were slowing down and buyers were holding the level
  • The H1 shows a stop hunt below recent lows. Sellers failed to make a lower low here.
  • At the recent seller area on the H1, there were signs of sellers not defending that level, thus indicating to us that the buys are in.
Categories
Forex Signals

AUD/USD Bearish Bias Continues – Ascending Triangle Pattern!

The AUD/USD currency pair succeeded to stop its early-day losses and drew some fresh bids around closer to the 0.7200 level mainly due to the risk-on market sentiment, backed by the positive news over the U.S. President Donald Trump’s recovery from COVID-19, which eventually underpinned the perceived risk currency Australian dollar and contributed to the currency pair gains. As per the latest report, the doctors of U.S. President Donald Trump said that he and his wife could be discharged from the hospital as soon as Monday. 

The AUD/USD currency pair succeeded to stop its early-day losses and drew some fresh bids around closer to the 0.7200 level mainly due to the risk-on market sentiment, backed by the positive news over the U.S. President Donald Trump’s recovery from COVID-19, which eventually underpinned the perceived risk currency Australian dollar and contributed to the currency pair gains. As per the latest report, the doctors of U.S. President Donald Trump said that he and his wife could be discharged from the hospital as soon as Monday. 

The AUD/USD currency pair succeeded to stop its early-day losses and drew some fresh bids around closer to the 0.7200 level mainly due to the risk-on market sentiment, backed by the positive news over the U.S. President Donald Trump’s recovery from COVID-19, which eventually underpinned the perceived risk currency Australian dollar and contributed to the currency pair gains. As per the latest report, the doctors of U.S. President Donald Trump said that he and his wife could be discharged from the hospital as soon as Monday. 

Apart from this, the trading sentiment was further bolstered by the updates suggesting a sooner end to the deadlock over the U.S. aid package talks. Besides, the fresh hopes of a soft Brexit, triggered after the weekend meeting between the UK PM Boris Johnson and E.U. Commission President Ursula von der Leyen, also favors the market risk-tone extended further support to the currency pair. Across the pond, Australia reports suggest a A$7.5B boost for transport infrastructure spending, which also gave additional support to the Australian dollar and helped the currency pair to stay bids on the day. 

In the meantime, the broad-based U.S. dollar selling bias, triggered by the marker risk-on sentiment, also played its major role in supporting the currency pair. Moreover, the U.S. dollar losses were further bolstered by the intensifying doubts over the U.S. economic recovery. On the contrary, the virus news from elsewhere keeps challenging the upbeat market sentiment and becomes the key factor that kept the pressure on any additional gains in the AUD/USD pair. The AUD/USD currency pair is currently trading at 0.7172 and consolidating in the range between 0.7158 – 0.7191.

It is worth recalling that the AUD/USD currency pair has been pressured since Friday after the negative news of U.S. President Donald Trump and his wife’s infection to the coronavirus (COVID-19). However, America’s fresh and positive updates helped the equity market stop its deeper losses on the day. The latest updates from the U.S. suggest that President Trump and his wife recover from the virus-led illness. Moreover, the hopes were further fueled after the comments from doctors off U.S. President Donald Trump, suggesting he and his wife could be discharged from the hospital as soon as Monday. 

Moreover, the market risk tone was further bolstered by optimism over the U.S. aid package talks. These hopes were originated after the U.S. House Speaker Nancy Pelosi showed positive signals about reaching the stimulus deal. On the other hand, the meeting between the UK PM Boris Johnson and E.U. Commission President Ursula von der Leyen over the weekend also offers fresh hopes of the oft Brexit, which also kept the market trading sentiment upbeat. 

Across the ocean, bullish sentiment around the AUD/USD currency pair was further bolstered by the reports suggesting that the Australian Deputy Prime Minister (PM) Michael McCormack is ready to announce a further $7.5 billion new transport infrastructure spending in Tuesday’s federal budget. Looking forward, the market traders keeping their eyes on the news concerning the American President’s health. Apart from this, the US ISM Services PMI for September, expected 56.0, would be key to watch. In the meantime, the updates surrounding the fresh Sino-US tussle, as well as the coronavirus (COVID-19), could not lose their importance.


Daily Support and Resistance

S1 0.7068

S2 0.7112

S3 0.7138

Pivot Point 0.7157

R1 0.7182

R2 0.7201

R3 0.7245

The AUD/USD pair is trading sideways in a narrow trading range of 0.7190 – 0.7170. The bullish breakout of 0.7190 level can drive buying until the 0.7240 resistance level, while the bearish breakout of 0.7170 can extend selling until 0.7160 and 0.7149 level. Let’s consider waiting for a breakout before taking any trades. Good luck! 

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Forex Signals

AUD/USD Completes 61.8% Fibonacci Retracement – Brace for Buying Signal! 

The AUD/USD currency pair failed to extend its early-day gains and edged lower around below the mid-0.7100 level, mainly due to the risk-off market sentiment triggered by the latest headlines surrounding U.S. President Donald Trump’s infection to the coronavirus (COVID-19). 

The AUD/USD currency pair failed to extend its early-day gains and edged lower around below the mid-0.7100 level, mainly due to the risk-off market sentiment triggered by the latest headlines surrounding U.S. President Donald Trump’s infection to the coronavirus (COVID-19). 

The AUD/USD currency pair failed to extend its early-day gains and edged lower around below the mid-0.7100 level, mainly due to the risk-off market sentiment triggered by the latest headlines surrounding U.S. President Donald Trump’s infection to the coronavirus (COVID-19). 

Furthermore, the renewed concern about the second wave of coronavirus infections also weighed on the market trading sentiment, which eventually undermined the perceived riskier Australian dollar and contributed to the currency pair declines. In the meantime, the U.S. policymakers’ failures to break the deadlock over the COVID-19 stimulus talks also keeps the market trading sentiment under pressure. Across the ocean, the broad-based U.S. dollar strength, supported by the risk-off market sentiment, also played its significant role in lowering the currency pair. 

On the contrary, the upbeat Aussie Retail Sales data showed that the Australian Retail Sales shrank lesser than -4.2% forecast to -4.0% in September, becoming the key factor that helps the currency pair limit its deeper losses. 

Concerns over the resurgence of the coronavirus pandemic have been ruining the hopes of the global economic recovery, which keeps the market trading sentiment under pressure and weakened the perceived riskier Australian dollar. The global death toll has crossed the 1 million mark, and the world is becoming a gloomy place once again. In America, the pandemic has infected more than 7.2 million and killed more than 206,000. Meanwhile, Europe’s worst COVID-19 center, Madrid, is considering fresh lockdown restrictions in the coming days. Moscow’s mayor ordered companies to send at least 30% of their staff home, as many European countries reported new infections records. 

Apart from this, the chatters over the U.S. President Donald Trump’s infection to the coronavirus (COVID-19) and U.S. policymakers’ failures to break the deadlock over the COVID-19 stimulus talks also exerting downside pressure on the market risk tone. However, the Democrats pushed their bill amount of $2.2 trillion through the house to boost the pessimism surrounding the discussions as Republicans are less interested in approving anything beyond a $1.5 trillion package.

On the contrary, the currency pair’s losses were capped by the upbeat Aussie Retail Sales data, which instantly gave some support to the Aussie currency and helped the currency pair limit its deeper losses. At the data front, the Australian Retail Sales beat the preliminary forecast of -4.2% with -4.0% prints in September. In doing so, the data reverses the previous month’s 3.2% advances.


Daily Support and Resistance

S1 0.6878

S2 0.6959

S3 0.6994

Pivot Point 0.704

R1 0.7075

R2 0.7121

R3 0.7202

On the 2-hour timeframe, the AUD/USD pair has completed a 61.8% Fibonacci retracement around the 0.7138 level, and above this, the odds of bullish trend continuation will remain high until the 0.7174 level. The MACD histograms are also becoming weaker and signaling that the sellers are exhausted, and bullish may enter in the market now. Considering this, we have entered a buying trade in the AUD/USD pair. Checkout a trading plan below.  

Entry Price – Buy 0.71649

Stop Loss – 0.71249

Take Profit – 0.72049

Risk to Reward – 1:1

Profit & Loss Per Standard Lot = -$400/ +$400

Profit & Loss Per Micro Lot = -$40/ +$40

Fellas, now you can check out forex trading signals via Forex Academy mobile app. Follow the links below.

iPhone Users: https://apps.apple.com/es/app/fasignals/id1521281368

Andriod Users: https://play.google.com/store/apps/details?id=academy.forex.thesignal&hl=en_US

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Forex Signals

Gold Exhibits Massive Volatility as Trump Tests COVID Positive – NFP Ahead! 

The yellow metal prices extended its Thursday’s winning streak and took further bids around well above the $1,900 level, mainly due to the risk-off market sentiment. That was witnessed by the negative performance of the S&P 500 Futures. However, the reason for the downbeat trading sentiment could be associated with the worrisome headlines concerning the U.S. and China relationships. In the meantime, the COVID-19 and Brexit story’s pessimistic signals also weighed on the market trading sentiment. This, in turn, helped the gold prices to put safe-haven bids.

The yellow metal prices extended its Thursday’s winning streak and took further bids around well above the $1,900 level, mainly due to the risk-off market sentiment. That was witnessed by the negative performance of the S&P 500 Futures. However, the reason for the downbeat trading sentiment could be associated with the worrisome headlines concerning the U.S. and China relationships. In the meantime, the COVID-19 and Brexit story’s pessimistic signals also weighed on the market trading sentiment. This, in turn, helped the gold prices to put safe-haven bids.

The yellow metal prices extended its Thursday’s winning streak and took further bids around well above the $1,900 level, mainly due to the risk-off market sentiment. That was witnessed by the negative performance of the S&P 500 Futures. However, the reason for the downbeat trading sentiment could be associated with the worrisome headlines concerning the U.S. and China relationships. In the meantime, the COVID-19 and Brexit story’s pessimistic signals also weighed on the market trading sentiment. This, in turn, helped the gold prices to put safe-haven bids.

Furthermore, the latest headlines surrounding U.S. President Donald Trump’s infection of the coronavirus (COVID-19), as well as the U.S. policymakers’ inability to break the coronavirus (COVID-19) stimulus deadlock, provided a further boost to the safe-haven metal prices. On the contrary, the broad-based U.S. dollar strength, backed by the combination of factors, becomes the key factor that capping further upside momentum for the gold. The precious metal prices are currently trading at 1,912.43 and consolidating in the range between 1,889.93 – 1,917.12. However, the bullion traders seem inactive to place any strong position amid Beijing’s Golden Week holidays.

The equity market has been flashing downbeat signals since the day started and ending this week with losses, witnessed by the S&P 500 Futures’ negative performance. However, many downbeat catalysts kept the market trading sentiment under pressure. Be it the worrisome headlines concerning the Brexit or the tension between the US-China, not to forget the coronavirus issues, the market trading sentiment flashing red on the day, which ultimately keeps the safe-haven assets supportive.

At the US-China front, the Sino-China tensions further bolstered after the news that the Americans Senators are pushing for a trade deal with Taiwan over China, which can renew the Sino-American tension. Additionally, the Financial Times (F.T.) spots a massive deployment of military forces in Hong Kong to tame the democracy protest, indicating an acceleration in the Sino-US tension and heavy the market’s mood.

Nevertheless, the grounds for the downbeat trading sentiment could also be attributed to the prevalent coronavirus (COVID-19) woes, which fueled the worries about the global economic recovery. The global death toll has crossed the 1 million mark, and the world is becoming a gloomy place once again. In America, the pandemic has infected more than 7.2 million and killed more than 206,000. Meanwhile, Europe’s worst COVID-19 center, Madrid, is considering fresh lockdown restrictions in the coming days, as well as Moscow’s mayor ordered companies to send at least 30% of their staff home, as many European countries reported records in new infections. This, in turn, exerted downside influence on the market risk tone and contributed to gold gains. On the other hand, the rumors concerning Trump administration employee Hope Hicks’ virus infection and the President’s fears also got infected on the market trading sentiment, which also favors the gold prices. 

The U.S. dollar extended its early-day gains and took further bids on the day due to the Thursday’s upbeat US ADP report, which showed that private-sector employers added 749K new jobs in September. Besides this, the gains in the U.S. dollar was further boosted by the risk-off market sentiment. The Bullish sentiment around the U.S. dollar was further bolstered by the final version of the US GDP print, which showed that the economy declined by 31.4% during the second quarter of 2020 against 31.7% estimated. Apart from this, Chicago PMI beat expectations by a significant margin and surged to 62.4 for September. Looking forward, the traders will keep their eyes on the ongoing drama surrounding the U.S. elections and updates about the U.S. stimulus package. Meanwhile, the U.S. employment data for September will be key to watch on the day.

Daily Support and Resistance

S1 1863.51

S2 1883.52

S3 1894.92

Pivot Point 1903.52

R1 1914.92

R2 1923.53

R3 1943.53

Gold displays excessive volatility as it plunged distinctly from 1,906 mark to 1,890 and then again turned to trade at 1,906. It appears like the traders are bolstering for the high impact of Non-Farm Employment change and from the U.S. economy. Economists are anticipating mixed data; therefore, gold can trade choppy until the data comes out. On the higher side, gold may find resistance at 1,920 upon the breakout of 1,911 level. In contrast, a bearish breakout of 1,900 level can trigger selling unto 1,892. Good luck! 

Categories
Forex Signals

USD/CAD Succeeded to Stop Bearish Streak – Quick Update on Signal! 

Today in the Asian trading session, the USD/CAD currency pair managed to stop its previous day bearish rally and edged higher around well above the 1.3300 level on the day. However, the bullish sentiment around the currency pair was being supported by the combination of factors, and as the broad-based U.S. dollar is back in demand on the day in reaction to a confusing end of the U.S. presidential debate, as well as the U.S. dollar gained further support after the release of upbeat U.S. macro data, which kept the currency pair higher. 

Today in the Asian trading session, the USD/CAD currency pair managed to stop its previous day bearish rally and edged higher around well above the 1.3300 level on the day. However, the bullish sentiment around the currency pair was being supported by the combination of factors, and as the broad-based U.S. dollar is back in demand on the day in reaction to a confusing end of the U.S. presidential debate, as well as the U.S. dollar gained further support after the release of upbeat U.S. macro data, which kept the currency pair higher. 

Today in the Asian trading session, the USD/CAD currency pair managed to stop its previous day bearish rally and edged higher around well above the 1.3300 level on the day. However, the bullish sentiment around the currency pair was being supported by the combination of factors, and as the broad-based U.S. dollar is back in demand on the day in reaction to a confusing end of the U.S. presidential debate, as well as the U.S. dollar gained further support after the release of upbeat U.S. macro data, which kept the currency pair higher. 

Besides, the market prevalent risk-off sentiment, triggered by the latest headlines surrounding U.S. President Donald Trump’s infection of the coronavirus (COVID-19), provided a further boost to the U.S. dollar as its safe-haven status. Across the pond, the reason for the USD/CAD pair’s bullish bias could also be linked to the soft WTI crude oil prices, which undermined the demand for the loonie and contributed to the currency pair gains. 

The stock market had been flashing red since the day session started and going toward ending the day with losses. Nevertheless, the reason could be associated with the U.S. policymakers’ failures to break the deadlock over the COVID-19 stimulus talks. Meanwhile. The rumors are surrounding U.S. President Donald Trump’s infection of the coronavirus (COVID-19), also weighing on the market trading tone, which tends to underpin the safe-haven assets like the U.S. dollar.

The long-lasting fight between the United States and China remain on the play as the South China Morning Post (SCMP) cites the U.S. preference for Taiwan over Beijing, which keeps fueling the relations between the United States and China. In the meantime, the market risk-off tone was further bolstered by the Financial Times (F.T.) headline, suggesting deployment of forces in Hong Kong to tame the democracy protests. This, in turn, added further pessimism around the market trading sentiment and underpinned the safe-haven assets.

The crude oil prices failed to extend its previous session winning streak and remained depressed around $38.00 marks across the pond. Nevertheless, the idea for the bearish bias around the crude oil prices could be attributed to the prevalent worries over the economic recovery after the coronavirus (COVID-19) resurgence in the U.S., Europe, and the U.K. Besides, the rise in OPEC output last month also weighed on crude oil prices. Apart from this, the currency pair’s bullish sentiment was further bolstered by the downbeat monthly Canadian GDP report, which eventually undermined the Candian dollar and extended further support to the currency pair. At the data front, the economy recorded a 3% growth in July, lower than the previous month’s 6.5% rise.

Looking forward, the traders will keep their eyes on the continuous drama surrounding the U.S. elections and updates about the U.S. stimulus package. Meanwhile, the U.S. employment data for September will be key to watch on the day.


Daily Support and Resistance

S1 1.3222

S2 1.3301

S3 1.3344

Pivot Point 1.3381

R1 1.3423

R2 1.3461

R3 1.354

Technically, the USD/CAD is supported around 1.3283 levels extended by a double bottom support level. On the higher side, the USD/CAD may face resistance at 1.3342 level. The USD/CAD two-hour timeframe shows a bullish signal, especially after closing the bullish engulfing candle over 1.3283 support zones. Checkout a trading plan below…

Entry Price – Buy 1.33255

Stop Loss – 1.32855

Take Profit – 1.33655

Risk to Reward – 1:1

Profit & Loss Per Standard Lot = -$400/ +$400

Profit & Loss Per Micro Lot = -$40/ +$40

Fellas, now you can check out forex trading signals via Forex Academy mobile app. Follow the links below.

iPhone Users: https://apps.apple.com/es/app/fasignals/id1521281368

Andriod Users: https://play.google.com/store/apps/details?id=academy.forex.thesignal&hl=en_US

Categories
Forex Signals

USD/CAD Selling Bias Weakens – Who’s Up for a Bullish Trade?

During Thursday’s European trading session, the USD/CAD currency pair extended its early-day losses and remain depressed below 1.3300 level despite the broad-based US dollar fresh strength. However, the US dollar took some fresh bids in the wake of upbeat US ADP numbers. Hence, the US dollar fresh strength could be considered as one of the key factors that help the currency pair to limit its deeper losses.

During Thursday’s European trading session, the USD/CAD currency pair extended its early-day losses and remain depressed below 1.3300 level despite the broad-based US dollar fresh strength. However, the US dollar took some fresh bids in the wake of upbeat US ADP numbers. Hence, the US dollar fresh strength could be considered as one of the key factors that help the currency pair to limit its deeper losses.

During Thursday’s European trading session, the USD/CAD currency pair extended its early-day losses and remain depressed below 1.3300 level despite the broad-based US dollar fresh strength. However, the US dollar took some fresh bids in the wake of upbeat US ADP numbers. Hence, the US dollar fresh strength could be considered as one of the key factors that help the currency pair to limit its deeper losses.

On the contrary, the reason for the sharp declines in the currency pair could be attributed to the gains in the crude oil prices which underpinned the commodity-linked currency the Loonie, and contributed to the currency pair’s declines.

Despite the US-China tussle, fears of the coronavirus (COVID-19), and political uncertainty, the global market risk sentiment remained well supported by optimism over a possible coronavirus vaccine. Besides this, the US policymakers inched closer to the much-awaited aid package despite Wednesday’s failed negotiations, which also used a positive impact on the trading sentiment and made the US dollar unable to put any safe-haven bids.

At the USD front, the broad-based US dollar tried very hard to stop its previous session bearish bias, but the losses remain on the cards the remained depressed as the investors continue to sell US dollars on the back of risk-on market sentiment. However, the upbeat US ADP data helped the US dollar to stop its deeper losses, which becomes the key factor that put the lid on any additional losses in the currency pair.

At the crude oil front, WTI crude oil prices took bids above $40, mainly after the surprise draw in the official oil inventories, shown by the Energy Information Administration (EIA). Apart from this, the broad-based US dollar weakness, as well as hopes of American stimulus, also helped the crude oil prices to extend its overnight gains. Hence, the upticks in the crude oil prices underpinned the commodity-linked currency the Loonie and exerted some downside pressure on the currency pair.

Looking ahead, the market traders will keep their focus on the key US ISM Manufacturing PMI for September, and the weekly Jobless Claims data. Across the pond, Australia’s AiG Performance Mfg Index and Commonwealth Bank Manufacturing PMI will also be key to watch. Whereas, the headlines concerning Brexit, pandemic, and the US Presidential Election will not lose their importance.


Daily Support and Resistance

S1 1.3187

S2 1.3249

S3 1.3276

Pivot Point 1.3311

R1 1.3339

R2 1.3373

R3 1.3435

The technical side of the USD/CAD seems bearish as the pair is trading at 1.3287 level, holding right above the double bottom level of 1.3282. On the 2 hour timeframe, the violation of the 1.3282 level, we may see find selling until the 1.3236 level today, and that’s a level which can help us capture a bullish bias around 1.3236. The MACD is supporting bearish bias, but the recent histograms are becoming smaller and smaller, indicating a weakening selling trends. Therefore, we have placed a buy limit of around 1.3252. Check out a full trade plan below…

Entry Price – Buy Limit 1.32523

Stop Loss – 1.32123

Take Profit – 1.32923

Risk to Reward – 1:1

Profit & Loss Per Standard Lot = -$400/ +$400

Profit & Loss Per Micro Lot = -$40/ +$40

Fellas, now you can check out forex trading signals via Forex Academy mobile app. Follow the links below.

iPhone Users: https://apps.apple.com/es/app/fasignals/id1521281368

Andriod Users: https://play.google.com/store/apps/details?id=academy.forex.thesignal&hl=en_US

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Forex Signals

AUD/USD Pair Succeeded to Extend Asian Session Gains – Update on Signal!

Today in the early European trading session, the AUD/USD currency pair extended its Asian session winning streak and took further bids around an intraday high closer to 0.7200 level mainly due to the risk-on market sentiment, backed by the on-going optimism over treatment for the highly infectious coronavirus. Moreover, the expectations of U.S. stimulus also favored the market’s risk-on, which underpinned the perceived risk currency Australian dollar and contributed to the currency pair gains.

Today in the early European trading session, the AUD/USD currency pair extended its Asian session winning streak and took further bids around an intraday high closer to 0.7200 level mainly due to the risk-on market sentiment, backed by the on-going optimism over treatment for the highly infectious coronavirus. Moreover, the expectations of U.S. stimulus also favored the market’s risk-on, which underpinned the perceived risk currency Australian dollar and contributed to the currency pair gains.

Today in the early European trading session, the AUD/USD currency pair extended its Asian session winning streak and took further bids around an intraday high closer to 0.7200 level mainly due to the risk-on market sentiment, backed by the on-going optimism over treatment for the highly infectious coronavirus. Moreover, the expectations of U.S. stimulus also favored the market’s risk-on, which underpinned the perceived risk currency Australian dollar and contributed to the currency pair gains.

Besides this, the currency pair got an extra boost mainly after the welcome number of China PMIs and US ADP, which extended further support to the market trading sentiment. Across the pond, the broad-based U.S. dollar weakness, triggered by the market risk-on tone, also played a significant role in supporting the currency pair. On the contrary, the renewed tension between the US-China, as well as, the rising COVID-19 cases all over the Europe and U.S. keeps challenging the upbeat market mood and becomes the key factor that keeps the lid on any additional gains in the currency pair. At this time, the AUD/USD currency pair is currently trading at 0.7 86and consolidating in the range between 0.7155 – 0.7198.

However, the reason for the risk-on market sentiment could be associated with the renewed probabilities of the further stimulus package as well as the hopes of the coronavirus (COVID-19) vaccine also favoured the market risk tone, which tends to underpin the perceived risk currency Australian dollar and helps the pair to put strong bids. The U.S. Congress tries hard to agree on the coronavirus (COVID-19) aid package with Republicans up for $1.5-$1.6 trillion against Democratic demand of $2.2 trillion. While the immediate discussions have failed, the policymakers pushed back the final voting on the stopgap funding, giving indirect hints of one more day for the politicians to agree on the much-awaited stimulus. Across the pond, the call of the Japanese stimulus also helps the risk-tone sentiment on the day.

On the other hand, the market trading sentiment was further bolstered by optimism over a possible vaccine and treatment for the highly infectious coronavirus. Furthermore, the Brexit-positive sentiment, backed by the reports suggesting that the E.U. stepped back from warnings to leave the trade and security talks, also exerted a positive impact on the market trading sentiment. This, in turn, underpinned the perceived risk currency Australian dollar and contributed to the currency pair gains.

As in result, the Wall Street benchmark succeeded to extend its overnight positive tone, despite stepping back during the last hour. While the U.S. 10-year Treasury yields also gained over 4-basis points (bps) to 0.686% on the day. The U.S. dollar remains depressed during the Asian session amid market risk-on sentiment. On the other hand, the cautious mood of traders ahead of the U.S. presidential election also weighed on the U.S. dollar.

The fears of the coronavirus (COVID-19) and political uncertainty are also challenging the market risk-on tone, which becomes the key factor that kept the lid on any additional gains in the currency pair. Elsewhere, the rising COVID-19 cases are causing major problems all over the U.S., Europe, and the U.K., which keep fueling the fears of lockdown restriction. As per the latest report, the coronavirus has infected more than 7.2 million and killed more than 206,000 people in the United States.

Looking ahead, the market traders will keep their focus on the key US ISM Manufacturing PMI for September, and the weekly Jobless Claims data. Across the pond, Australia’s AiG Performance Mfg Index and Commonwealth Bank Manufacturing PMI will also be key to watch. Whereas, the headlines concerning Brexit, pandemic, and the U.S. Presidential Election will not lose their importance.


Daily Support and Resistance

S1 0.7025

S2 0.7106

S3 0.7137

Pivot Point 0.7186

R1 0.7217

R2 0.7266

R3 0.7346

The AUD/USD has violated the double top resistance level of 0.7142, and bullish crossover of this level makes 0.7142 a support for the AUD/USD pair. On the higher side, the AUD/USD pair may go after the next resistance area of 0.7235 level. Conversely, the bearish breakout of 0.7142 may drive further selling until 0.7084. Bullish bias seems stronger today. 

Entry Price – Buy 0.71844

Stop Loss – 0.71444

Take Profit – 0.72244

Risk to Reward – 1:1

Profit & Loss Per Standard Lot = -$400/ +$400

Profit & Loss Per Micro Lot = -$40/ +$40

Fellas, now you can check out forex trading signals via Forex Academy mobile app. Follow the links below.

iPhone Users: https://apps.apple.com/es/app/fasignals/id1521281368

Andriod Users: https://play.google.com/store/apps/details?id=academy.forex.thesignal&hl=en_US

Categories
Forex Signals

NZDCHF Bearish channel in Action

Introduction

Introduction

Introduction

NZDCHF has been moving in a downward channel since the beginning of September.

After the most recent push by the sellers attempted to breach past the bottom of the channel, but failed and came right back in. The reaction from the buyers came in quite strong but ended up holding below the Resistance at 0.60907. This puts the channel currently in a halt state.

On the 1H timeframe, the buyers began to make higher highs and higher lows. However, after reaching the Resistance, there were no further higher highs. In other words, the market went into a consolidation state.

Soon later, the sideways movement tuned into lower high sequences, indicating that the sellers are making an attempt to take the market at least to the recent low (0.60296), ahead of the market going back to the top of the channel.

In hindsight, the higher demand at the bottom of the channel eventually led to the price head to higher levels. And the reason for the demand kicking in could be due to the strengthening of the New Zealand Dollar.

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Forex Signals

AUD/USD Extends Its Early-Day Gains Over 0.7100 – Quick Trade Plan! 

The AUD/USD currency pair stopped its early-day gains and took some new offers near the 0.7100 level mainly due to the risk-off market sentiment, triggered by the intensification of tensions between the U.S. and China. Apart from this, the lack of clarity over the much-awaited coronavirus (COVID-19) stimulus bill also exerted downside pressure on the market trading tone, which tends to undermine the perceived riskier Australian dollar and contributed to the currency pair gains. 

The AUD/USD currency pair stopped its early-day gains and took some new offers near the 0.7100 level mainly due to the risk-off market sentiment, triggered by the intensification of tensions between the U.S. and China. Apart from this, the lack of clarity over the much-awaited coronavirus (COVID-19) stimulus bill also exerted downside pressure on the market trading tone, which tends to undermine the perceived riskier Australian dollar and contributed to the currency pair gains. 

The AUD/USD currency pair stopped its early-day gains and took some new offers near the 0.7100 level mainly due to the risk-off market sentiment, triggered by the intensification of tensions between the U.S. and China. Apart from this, the lack of clarity over the much-awaited coronavirus (COVID-19) stimulus bill also exerted downside pressure on the market trading tone, which tends to undermine the perceived riskier Australian dollar and contributed to the currency pair gains. 

Besides, the ever-increasing number of coronavirus cases across the globe also kept the market sentiment under pressure, which provided further discouragement to the currency pair. On the other hand, the broad-based U.S. dollar fresh strength, backed by the market risk-off tone, also weighed on the AUD/USD currency pair. The gains in the U.S. dollar were further bolstered by the U.S. Congress’ progress towards passing the latest $2.2 trillion fiscal stimulus bill. On the contrary, the better-than-expected China PMI data could be considered as one of the key factors that help the currency pair to limits its deeper losses. At the moment, the AUD/USD currency pair is currently trading at 0.7111 and consolidating in the range between 0.7100 – 0.7149.

As we all well aware that the market trading sentiment remains depressed during the Asian trading session as the concern about the second wave of coronavirus infections, leads the lockdown measures to control the outbreak in several countries, which kept the global risk sentiment under pressure. As per the latest report, the global death losses from the COVID-19 pandemic crossed 1 million earlier in the week, and case numbers continue to rise. Thus, the ever-increasing cases of coronavirus across the globe, destroying hopes of any V-shaped economic recovery. This, in turn, urged investors to invest their money into safe-haven assets instead of riskier assets like Aussie.

At the US-China front, the renewed concerns over worsening tensions between the world’s two largest economies over Beijing’s lesser than promised buying of the U.S. goods, which keeps threatening the Sino-American trade deal. This, in turn, exerted downside pressure on the market trading sentiment and contributed to the currency pair losses. Other than the US-China tussle, the tussle between the European and British policymakers over the Brexit trade deal kicked off yesterday.

Additionally, the lack of clarity over the much-awaited coronavirus (COVID-19) stimulus bill also keeps the investors cautious. But the hopes were earlier fueled by the U.S. Congress’ progress towards passing the latest $2.2 trillion fiscal stimulus bill proposed by Democrats on Monday after U.S. House of Representatives Speaker Nancy Pelosi stated that a deal with the Trump White House could be possible by this week.

At the USD front, the broad-based U.S. dollar succeeded to stop its previous session losses and took some fresh bid during the Asian session on the day as investors turned to the safe-haven in the wake of risk-off market sentiment. However, the progress in the U.S. dollar could be limited as the Investors are turning their focus to comments from President Trump and Democrat candidate Joe Biden However, the gains in the U.S. dollar kept the currency pair lower. Whereas, the U.S. Dollar Index that tracks the greenback against a bucket of other currencies rose by 0.05% to 93.977 by 12:53 AM ET (4:53 AM GMT). 

Across the pond, the market trading sentiment was unaffected by the better-than-expected China data, which showed that the recovery in manufacturing had maintained its momentum in the wake of the Covid-19 epidemic, with both the supply and demand surging. At the data front, China’s NBS or government Manufacturing PMI, which focuses on state-owned enterprises with easy access to credit, increased to 51.5 in September from 51 in August, surpassing the estimate of 51.2. 

In the meantime, the NBS Non-Manufacturing PMI, rose to 55.9 in September from 55.2 in August, exceeding the forecast of 52.1 by a significant margin. A reading above 50 indicates development in the economy. However, this positive data becomes the key factor that helps the currency pair to limit its deeper losses. Looking forward, the market traders will keep their eyes on the USD price dynamics and coronavirus headlines, which could play an important role in managing the intraday momentum. Meanwhile, the FOMC Member Kashkari Speaks and FOMC Member Bowman Speaks will be key to watch on the day.


Daily Support and Resistance

S1 0.6878

S2 0.6959

S3 0.6994

Pivot Point 0.704

R1 0.7075

R2 0.7121

R3 0.7202

The AUD/USD has violated the double top resistance level of 0.7082 and the bullish crossover of this level makes 0.7082 a support for the AUD/USD pair. On the higher side, the AUD/USD pair may go after the next resistance area of 0.7115 level. Conversely, the bearish breakout of 0.7065 may drive further selling until 0.7014. Bullish bias seems stronger today. Check out a trading plan below…

Entry Price – Buy 0.71358

Stop Loss – 0.70958

Take Profit – 0.71758

Risk to Reward – 1:1

Profit & Loss Per Standard Lot = -$400/ +$400

Profit & Loss Per Micro Lot = -$40/ +$40

Fellas, now you can check out forex trading signals via Forex Academy mobile app. Follow the links below.

iPhone Users: https://apps.apple.com/es/app/fasignals/id1521281368

Andriod Users: https://play.google.com/store/apps/details?id=academy.forex.thesignal&hl=en_US

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Forex Signals

GBP/JPY Succeeded to extend Bullish Bias Amid Faded Haven Appeal!

Today in the European trading session, the GBP/JPY currency pair successfully extended its previous session bullish trading moves and hit the two-weeks high around 135.70 marks mainly due to the on-going Brexit optimism, which eventually underpinned the Brtish Pound and contributed to the currency pair gains. Apart from this, the currency pair got an additional boost after the Bank of England (BoE) policymaker reduced the possibility of negative interest rates in the short-term, which also benefitted the British Pound and extended further support to the currency pair.

Today in the European trading session, the GBP/JPY currency pair successfully extended its previous session bullish trading moves and hit the two-weeks high around 135.70 marks mainly due to the on-going Brexit optimism, which eventually underpinned the Brtish Pound and contributed to the currency pair gains. Apart from this, the currency pair got an additional boost after the Bank of England (BoE) policymaker reduced the possibility of negative interest rates in the short-term, which also benefitted the British Pound and extended further support to the currency pair.

Today in the European trading session, the GBP/JPY currency pair successfully extended its previous session bullish trading moves and hit the two-weeks high around 135.70 marks mainly due to the on-going Brexit optimism, which eventually underpinned the Brtish Pound and contributed to the currency pair gains. Apart from this, the currency pair got an additional boost after the Bank of England (BoE) policymaker reduced the possibility of negative interest rates in the short-term, which also benefitted the British Pound and extended further support to the currency pair.

Let me remind you that the combination of factors helped the currency catch some aggressive bids on the 2nd-day of a new trading week and build on last week’s modest bounce from the lowest level since early July 133.00 marks. Across the pond, the strong rally in the equity markets, backed by the combination of factors, undermined the safe-haven Japanese yen and gave a further boost to the GBP/JPY currency pair.

Despite concerns about the coronavirus cases in some notable nations and worsening US-China relations, the investors continued to cheer the hopes of the US fiscal stimulus package triggered by reports suggesting that the US Democrats’ showed a willingness to alter previous proposals while saying that the deadlock over the much-awaited stimulus talks seems to break anytime. This, in turn, boosted the market trading sentiment and extended support to the currency pair.

Moreover, the upbeat market sentiment was being supported by optimism over the coronavirus vaccine, which came after the US pharmaceutical giant Johnson and Johnson Inc COVID-19 vaccine trial has shown a strong immune response to the coronavirus with a single dose in the early trial stages.

The UK and EU are ready to resume the 9th and final phases of Brexit talks on the day across the pond. Reports suggest that negotiators will start the process to finalize a deal by the end of this week to hammer out an agreement in time for the next EU summit in mid-October. However, the hopes of a Brexit deal were further fueled after the EU steps back from warnings to leave trade and security talks, shows a willingness to prepare a joint legal agreement. (WAB). This, in turn, boosted the sentiment around the British Pound and extended further support to the currency pair.

Looking forward, the market traders will keep their eyes on headlines concerning Brexit, pandemic, and the US Presidential Election, which may offer important clues on the day. It’s worth mentioning that the 1st-round of the US President Election debate is expected to use American President Donald Trump’s tax payments as a fresh obstacle, which may push the US dollar down.


The GBP/JPY pair has formed bullish engulfing candles on the 4-hour timeframe, suggesting a bullish bias around 135.150. The recent bullish crossover of 135.100 levels is likely to lead the GBP/JPY price towards 136.400 levels. On the further higher side, the bullish crossover of 136.400 level will make our forex trading signal more secure, and it can lead GBP/JPY price towards 139.900 level. Check out a trading plan below…

Entry Price – Buy 136.056
Stop Loss – 135.656
Take Profit – 136.456
Risk to Reward – 1:1
Profit & Loss Per Standard Lot = -$400/ +$400
Profit & Loss Per Micro Lot = -$40/ +$40
Fellas, now you can check out forex trading signals via Forex Academy mobile app. Follow the links below.
iPhone Users: https://apps.apple.com/es/app/fasignals/id1521281368
Andriod Users: https://play.google.com/store/apps/details?id=academy.forex.thesignal&hl=en_US

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Forex Signals

USD/CHF Extended Previous Session Losing Streak – Signal Update! 

During Tuesday’s early European trading session, the USD/CHF currency pair failed to stop its Asian session bearish bias and dropped further near 0.9223 level, mainly due to the broad-based U.S. dollar selling bias, triggered by the cautious mood of traders ahead of the U.S. presidential debate. Moreover, the upbeat market sentiment, backed by the positive coronavirus (COVID-19) vaccine news, also weighed on the safe-haven U.S. dollar, which keeps the currency pair under pressure. Currently, the USD/JPY currency pair is currently trading at 0.9224 and consolidating in the range between 0.9222 – 0.9252.

During Tuesday’s early European trading session, the USD/CHF currency pair failed to stop its Asian session bearish bias and dropped further near 0.9223 level, mainly due to the broad-based U.S. dollar selling bias, triggered by the cautious mood of traders ahead of the U.S. presidential debate. Moreover, the upbeat market sentiment, backed by the positive coronavirus (COVID-19) vaccine news, also weighed on the safe-haven U.S. dollar, which keeps the currency pair under pressure. Currently, the USD/JPY currency pair is currently trading at 0.9224 and consolidating in the range between 0.9222 – 0.9252.

During Tuesday’s early European trading session, the USD/CHF currency pair failed to stop its Asian session bearish bias and dropped further near 0.9223 level, mainly due to the broad-based U.S. dollar selling bias, triggered by the cautious mood of traders ahead of the U.S. presidential debate. Moreover, the upbeat market sentiment, backed by the positive coronavirus (COVID-19) vaccine news, also weighed on the safe-haven U.S. dollar, which keeps the currency pair under pressure. Currently, the USD/JPY currency pair is currently trading at 0.9224 and consolidating in the range between 0.9222 – 0.9252.

However, the market trading sentiment extended its Monday’s upbeat performance and continue to flash d green during the European session on the day. The market was being supported by the risk-positive headlines from America and the European Union (E.U.). Moreover, the coronavirus (COVID-19) vaccine’s hopes also kept the bulls hopeful on the day. It is worth mentioning that the U.S. pharmaceutical giant Johnson and Johnson Inc COVID-19 vaccine trials earlier showed a robust immune response to the coronavirus with a single dose in the early trial stages. This, in turn, boosted market trading sentiment and dragged the currency pair down by undermining the safe-haven U.S. dollar.

On the other hand, the U.S. Democrats showed a willingness to alter previous proposals, while saying that the deadlock over the much-awaited stimulus talks seems to break anytime. Meanwhile, the U.S. House Speaker Nancy Pelosi recently said that we have made critical additions and reduce the bill’s cost by shortening the time covered for now. This eventually boosted the hopes of the much-awaited coronavirus (COVID-19) stimulus package, which keeps the market trading sentiment positive and helps the currency pair limit its deeper losses by undermining the safe-haven Swiss Franc.


Despite the hopes of further stimulus., the broad-based U.S. dollar still flashing red during the European session amid market risk-on sentiment. On the other hand, traders’ cautious mood ahead of Tuesday’s U.S. presidential election debate between President Donald Trump and Democratic candidate Joe Biden also weighed on the U.S. dollar. Although, the gains in the U.S. dollar keep the currency pair down. Looking ahead, the market traders will keep their focus on headlines concerning Brexit, pandemic, and the U.S. Presidential Election, which may offer important clues. It’s worth mentioning that the 1st-round of the U.S. President Election debate is expected to use American President Donald Trump’s tax payments as a fresh obstacle, which may push the U.S. dollar down. 

Daily Support and Resistance

S1 0.9038

S2 0.9109

S3 0.9154

Pivot Point 0.9181

R1 0.9225

R2 0.9252

R3 0.9323

The USD/CHF pair entered the overbought zone during the Asian session but soon started forming a bearish setup below a strong resistance level of 0.9295 level. The closing of the candle below 0.9295 level has driven strong selling until the 0.0222 level. An upward trendline is likely to support the USD/CHF pair at 0.9211 level, and if it closes over 0.9211 level, we may have a bullish reversal. Check out a trading plan below…

Entry Price – Sell 0.92306

Stop Loss – 0.92706

Take Profit – 0.91906

Risk to Reward – 1:1

Profit & Loss Per Standard Lot = -$400/ +$400

Profit & Loss Per Micro Lot = -$40/ +$40

Fellas, now you can check out forex trading signals via Forex Academy mobile app. Follow the links below.

iPhone Users: https://apps.apple.com/es/app/fasignals/id1521281368

Andriod Users: https://play.google.com/store/apps/details?id=academy.forex.thesignal&hl=en_US

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Forex Signals

EUR/JPY Violates Descending Triangle Pattern – Who’s Up for Buying?

Today in the early European trading session, the EUR/JPY stretched its previous session bullish trend and took further bids around an intraday top closer to 123.240, mainly due to the risk-on market sentiment. The faded safe-haven appeal was backed by the on-going optimism over treatment for the highly infectious coronavirus. Therefore, the demand for Japanese yen fell compared to the single currency Euro and we noticed an upward movement in the EUR/JPY currency pair.

Today in the early European trading session, the EUR/JPY stretched its previous session bullish trend and took further bids around an intraday top closer to 123.240, mainly due to the risk-on market sentiment. The faded safe-haven appeal was backed by the on-going optimism over treatment for the highly infectious coronavirus. Therefore, the demand for Japanese yen fell compared to the single currency Euro and we noticed an upward movement in the EUR/JPY currency pair.

Today in the early European trading session, the EUR/JPY stretched its previous session bullish trend and took further bids around an intraday top closer to 123.240, mainly due to the risk-on market sentiment. The faded safe-haven appeal was backed by the on-going optimism over treatment for the highly infectious coronavirus. Therefore, the demand for Japanese yen fell compared to the single currency Euro and we noticed an upward movement in the EUR/JPY currency pair.

A day before, the EUR/USD pair’s gains were limited after the speech of European Central Bank’s President, Christine Lagarde. She made fresh comments on the coronavirus pandemic threat and said that despite the rebounded economic activity in Eurozone, the recovery remains incomplete, uncertain, and uneven. She added that consumer spending has resumed, but they are still cautious about their jobs and income prospects, so the spending is behind its margin. Similarly, the business investment has picked up, but the weak demand and pertaining uncertainty have weighed on the investment plans.

The market trading sentiment recently got the lift from the hints of further money flow from the US and Europe. These developments were supported by the US House Speaker Nancy Pelosi’s optimism towards the COVID-19 aid package discussion. Apart from this, the European Central Bank (ECB) President Christine Lagarde repeated that the Governing Council, “continues to stand ready to adjust all of its instruments, as appropriate” Thi, in turn, boosted the market trading sentiment.

The US-China picked up further pace after the headline from the South China Morning Post (SCMP), published Tuesday’s early Asian session, suggests further hardships for the Sino-American trade deal. However, the news relies on China’s imports of the US goods under the trade agreement between Washington and China, which keeps challenging the upbeat market tone and cap further upside momentum for the currency pair.


The EUR/JPY pair is trading with a bullish bias at 123.400 level, having violated a descending triangle pattern on the four hourly charts. The triangle pattern was extending resistance at 122.850 level, and bullish crossover and formation of a bullish engulfing pattern may drive further buying until the next resistance area of 124.088 level. The leading technical indicators such as RSI and MACD also show bullish crossover, supporting bullish bias in the market. At the same time, the 50 EMA is also in support of the buying trend. Checkout a trading plan below…

Entry Price – Buy 123.288
Stop Loss – 123.292
Take Profit – 123.688
Risk to Reward – 1:1
Profit & Loss Per Standard Lot = -$400/ +$400
Profit & Loss Per Micro Lot = -$40/ +$40
Fellas, now you can check out forex trading signals via Forex Academy mobile app. Follow the links below.
iPhone Users: https://apps.apple.com/es/app/fasignals/id1521281368
Andriod Users: https://play.google.com/store/apps/details?id=academy.forex.thesignal&hl=en_US

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Forex Signals

AUD/JPY Heading North to Complete 50% Fibonacci Retracement! 

Today in the early European trading session, the AUD/JPY extended its previous session bullish trend and took further bids around an intraday top closer to 75.10 level, mainly due to the risk-on market sentiment, backed by the on-going optimism over treatment for the highly infectious coronavirus. 

Today in the early European trading session, the AUD/JPY extended its previous session bullish trend and took further bids around an intraday top closer to 75.10 level, mainly due to the risk-on market sentiment, backed by the on-going optimism over treatment for the highly infectious coronavirus. 

Today in the early European trading session, the AUD/JPY extended its previous session bullish trend and took further bids around an intraday top closer to 75.10 level, mainly due to the risk-on market sentiment, backed by the on-going optimism over treatment for the highly infectious coronavirus. 

Moreover, the renewed hopes over the U.S. COVID-19 aid package also boosted the market risk tone, underpinning the Australian dollar’s perceived risk currency and contributed to the currency pair gains. Apart from this, the broad-based U.S. dollar selling bias, triggered by the combination of factors, also played its major role in supporting the currency pair. Besides this, the currency pair got an extra boost mainly after the analysts at Citigroup downplayed the possibilities of negative interest rates, which gave further support to the Aussie dollar and contributed to the currency par gains. 

On the contrary, the renewed tension between the US-China over the trade deal keeps challenging the upbeat market mood and becomes the key factor that keeps the lid on any additional currency pair gains. 


The AUD/JPY pair is trading with a bullish bias at 75.45 level on the technical front. Bullish crossover of 75 levels has opened further room for buying until 75.42 level. The closing of the bullish engulfing pattern may drive sharp buying in the AUD/JPY pair; therefore, we have opened a buy trade to target quick 40 pips. Check out a trading plan below… 

Entry Price – Buy 74.892

Stop Loss – 74.92

Take Profit – 75.292

Risk to Reward – 1:1

Profit & Loss Per Standard Lot = -$400/ +$400

Profit & Loss Per Micro Lot = -$40/ +$40

Fellas, now you can check out forex trading signals via Forex Academy mobile app. Follow the links below.

iPhone Users: https://apps.apple.com/es/app/fasignals/id1521281368

Andriod Users: https://play.google.com/store/apps/details?id=academy.forex.thesignal&hl=en_US

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Forex Signals

Gold’s Choppy Session Continues – Brace for Breakout Setup!

The yellow metal prices managed to stop its previous session bearish bias and started to gain positive traction around the $1,874 level, mainly due to the prevalent selling bias surrounding the U.S. dollar. That was triggered by the downbeat U.S. data, which fueled the doubts that the U.S. economic recovery could be halt. Apart from this, the upbeat market mood also undermined the demand of the U.S. dollar. Thus, the weaker U.S. dollar could be seen as one of the key factors that helped the dollar-denominated commodity.

The yellow metal prices managed to stop its previous session bearish bias and started to gain positive traction around the $1,874 level, mainly due to the prevalent selling bias surrounding the U.S. dollar. That was triggered by the downbeat U.S. data, which fueled the doubts that the U.S. economic recovery could be halt. Apart from this, the upbeat market mood also undermined the demand of the U.S. dollar. Thus, the weaker U.S. dollar could be seen as one of the key factors that helped the dollar-denominated commodity.

The yellow metal prices managed to stop its previous session bearish bias and started to gain positive traction around the $1,874 level, mainly due to the prevalent selling bias surrounding the U.S. dollar. That was triggered by the downbeat U.S. data, which fueled the doubts that the U.S. economic recovery could be halt. Apart from this, the upbeat market mood also undermined the demand of the U.S. dollar. Thus, the weaker U.S. dollar could be seen as one of the key factors that helped the dollar-denominated commodity.

On the contrary, the market risk-on sentiment, backed by the optimism over the coronavirus (COVID-19) vaccine/treatment and the hopes of the COVID-19 stimulus measures package, becomes the key factor that kept the lid on any additional gains in the gold prices. Across the pond, the market trading sentiment was relatively unaffected by the Sino-American tussle and virus woes, which might lend some further support to the safe-haven metal. The yellow metal prices are currently trading at 1,874.13 and consolidating in the range between 1,861.93 – 1,875.20.

The renewed optimism over a possible vaccine for the highly infectious coronavirus pandemic boosted the market risk tone on the day. These hopes were fueled after Novavax Inc started a clinical late-stage trial of the coronavirus vaccine in the U.K. The experimental vaccine is produced on partnership terms with the government’s Vaccines Taskforce. This, in turn, weakened demand for safe-haven metal and might keep a lid on any extra gains for the yellow metal.

Moreover, the risk-on sentiment was further bolstered by the latest headlines suggesting that the Democrats in the U.S. House of Representatives stated that they are working on a $2.2 trillion COVID-19 stimulus package that could be voted on next week. Besides this, there is also a suggestion that House of Representatives Speaker Nancy Pelosi and U.S. Treasury Secretary Steven Mnuchin will likely resume stalled stimulus talks.

As in result, the broad-based U.S. dollar failed to maintain its previous day gains and dopped on the day mainly due to the risk-on market sentiment. Moreover, the U.S. dollar losses could also be attributed to the downbeat U.S. unemployment data. However, the U.S. dollar losses kept the gold prices higher as the price of gold is inversely related to the price of the U.S. dollar.

Across the ocean, the fears of no-deal Brexit and the Sino-American tussle keep challenging the positive market tone, which might help the yellow-metal prices. At the US-China front, Sino-US’s tensions picked up further pace after the US Justice Department urges judge to allow Govt to ban WeChat from app stores. As per the latest report, the US Justice Department early Friday urged a San Francisco federal judge to permit the government to prohibit Apple Inc and Google from offering WeChat for download in the app store. At the coronavirus front, the on-going rise in COVID-19 cases globally continues to fuel worries that the global economic recovery could be halt.


Daily Support and Resistance
S1 1792.71
S2 1832.06
S3 1847.65
Pivot Point 1871.4
R1 1887
R2 1910.75
R3 1950.1

The yellow metal gold extends to trades choppy on the back of thin fundamentals in the market. The Doji candle formation on the daily timeframe is expected to encourage upward movement in the market unto the 23.6 Fibonacci retracement level of 1,877. On the upward side, the bullish violation of 1,877 marks may lead to a 38.2% Fibo level of 1,895. Beneath 1,877, the gold price can sink until 1,858 and 1,846 level. Neutral bias controls in the market today. Good luck!

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Forex Signals

USD/CAD Triple Top Pattern Pressing Pair Lower – Sell Limit!

The USD/CAD pair was closed at 1.33921 after a high of 1.34178 and a low of 1.33322. Overall the movement of the USD/CAD pair remained bullish throughout the day. The currency pair USD/CAD posted gains on Friday amid the US dollar’s broad-based strength and the declining crude oil prices. The USD/CAD pair posted the biggest weekly gain on Friday since March as the US dollar gained its safe-haven status back.

The USD/CAD pair was closed at 1.33921 after a high of 1.34178 and a low of 1.33322. Overall the movement of the USD/CAD pair remained bullish throughout the day. The currency pair USD/CAD posted gains on Friday amid the US dollar’s broad-based strength and the declining crude oil prices. The USD/CAD pair posted the biggest weekly gain on Friday since March as the US dollar gained its safe-haven status back.

The USD/CAD pair was closed at 1.33921 after a high of 1.34178 and a low of 1.33322. Overall the movement of the USD/CAD pair remained bullish throughout the day. The currency pair USD/CAD posted gains on Friday amid the US dollar’s broad-based strength and the declining crude oil prices. The USD/CAD pair posted the biggest weekly gain on Friday since March as the US dollar gained its safe-haven status back.

The US Dollar Index that measures the value of the US dollar against the six currencies’ basket rose above 96.6 level on Friday and reached its 2-months highest level. The rise in the greenback gave a push to the USD/CAD pair on Friday. The US dollar was strong across the board as the market’s rising level of uncertainties called for a safe-haven appeal. The delayed US stimulus package, the rising number of coronavirus figures from Europe, and the escalating US-China tensions kept the uncertainty level high.

There were also increased concerns about economic recovery due to depressing macroeconomic data releases from many countries. On Friday, the Core Durable Orders declined to 0.4% in August from the projection of 1.0%, and the Durable Goods Orders also dropped to 0.4% against the forecast of 1.1% in August. These negative economic figures raised the economic recovery fears and supported the safe-haven appeal.

The fears for the next round of US stimulus package’s late delivery increased in the market as there was no progress in talks. Chances have been increased that no new stimulus measure will be announced before the US Presidential elections on 3rd November. 

Meanwhile, the European countries were experiencing the latest round of coronavirus pandemic as France & UK, with some other member states, faced the highest rise in daily infected cases. In 24 hours, France reported more than 16000 cases, while the UK reported more than 6600 cases. Both countries saw the highest level of reported cases in a single day since the pandemic started.

Furthermore, the rising conflict between the world’s two largest economies over the coronavirus pandemic and its origin at the United Nations General Assembly (UNGA) raised fears for a new Cold-war.

The above-mentioned fears and concerns kept the market risk sentiment under pressure and demand for safe-haven appeal at high that supported the US dollar and, ultimately, the USD/CAD pair on Friday.


Moreover, the declining crude oil prices on Friday weighed on commodity-linked Loonie when prices of WTI Crude oil futures dropped below $41 per barrel. The decreased crude oil prices could be attributed to the rising safe-haven appeal and US dollar prices as the greenback and crude oil prices negatively correlate. The declining Canadian dollar supported the USD/CAD pair’s an upward trend on Friday and helped the pair to post the most significant weekly gains since March. There was no economic data to be released from Canada, and hence, the team followed the USD movements only.

Daily Technical Levels

Support Resistance

1.3371 1.3394

1.3360 1.3406

1.3348 1.3417

Pivot point: 1.3383

Technically, the USD/CAD pair has disrupted the strong resistance mark of 1.3345, and on the higher side, the aim for USD/CAD is expected to stay at 1.3394. The 50 EMA and the MACD are underpinning the upward movement in the market; therefore, we have opened a buy trade in the USD/CAD pair. Let’s follow the below trade plan… 

1.34453 1.33653

Entry Price – Sell Limit 1.34053

Stop Loss – 1.33057 

Take Profit – 1.33857

Risk to Reward – 1:1

Profit & Loss Per Standard Lot = -$400/ +$400

Profit & Loss Per Micro Lot = -$40/ +$40

Fellas, now you can check out forex trading signals via Forex Academy mobile app. Follow the links below.

iPhone Users: https://apps.apple.com/es/app/fasignals/id1521281368

Andriod Users: https://play.google.com/store/apps/details?id=academy.forex.thesignal&hl=en_US

Categories
Forex Signals

GBP/USD Choppy Session Continues – Quick Trade Plan! 

Today in the European trading session, the GBP/USD currency pair stopped its early-day winning streak and gained some bearish traction around 1.3165 level, mainly due to the broad-based US dollar strength. That was supported by the renewed hopes of the US next round of fiscal stimulus measures. Apart from this, the cautious market sentiment, triggered by the US-China tussle, also underpinned the US dollar and contributed to the currency pair gains. Furthermore, the concerns about the second wave of coronavirus infections also gave support to the US dollar and dragged the currency pair down.

Today in the European trading session, the GBP/USD currency pair stopped its early-day winning streak and gained some bearish traction around 1.3165 level, mainly due to the broad-based US dollar strength. That was supported by the renewed hopes of the US next round of fiscal stimulus measures. Apart from this, the cautious market sentiment, triggered by the US-China tussle, also underpinned the US dollar and contributed to the currency pair gains. Furthermore, the concerns about the second wave of coronavirus infections also gave support to the US dollar and dragged the currency pair down.

Today in the European trading session, the GBP/USD currency pair stopped its early-day winning streak and gained some bearish traction around 1.3165 level, mainly due to the broad-based US dollar strength. That was supported by the renewed hopes of the US next round of fiscal stimulus measures. Apart from this, the cautious market sentiment, triggered by the US-China tussle, also underpinned the US dollar and contributed to the currency pair gains. Furthermore, the concerns about the second wave of coronavirus infections also gave support to the US dollar and dragged the currency pair down.

On the contrary, the optimism over a post-Brexit transition trade deal and UK Sunak’s furlough scheme offers could be considered as one of the key flappers that helps the currency pair to limits its deeper losses. 

As we all knew, the market trading sentiment was flashing green during the Asian session, but the gains were short-lived, and the market started to turn sour, possibly due to the intensifying US-China tussle. At the US-China front, Sino-US’s tensions picked up further pace after the US Justice Department raised its voice against China’s WeChat app. As per the keywords, “He forced the San Francisco federal judge to permit the government to ban Apple Inc and Google from offering WeChat for download in the app store”. This, in turn, boosted the safe-have assets like including the US dollar. 

At the USD front, the broad-based US dollar succeeded in stopping its previous session losses and edged higher during the European session amid mixed sentiment in the market. Moreover, the US dollar gains could also be attributed to the optimism over the US stimulus deal, which eased concerns over the US economic recovery and underpinned the American currency. It is worth reporting that the US Congress may break a months-long deadlock to agree on the next round of fiscal stimulus measures, which helped ease the market fears over the second wave of COVID-19 infections. However, the US dollar’s fresh gains become the key factor that kept the currency pair down.

On the contrary, the British Pound failed to keep its earlier gains, which were supported by the reports suggesting the UK’s Finance Minister Rishi Sunak set up measures in its job protection scheme, as the country facing the second-wave of coronavirus-induced restrictions. Besides this, the optimism over a post-Brexit transition trade deal could be considered one of the key factors that help the currency pair limit its deeper losses. As per the latest report, the Bank of England (BOE) Governor Andrew Bailey repeated that trade deal would be beneficial for both the UK and the EU.


Moving ahead, the market traders will keep their eyes on the US economic docket, which will show the release of Durable Goods Orders. Meanwhile, the USD moves and coronavirus headlines will also closely follow to play a key role in the currency pair.

Daily Support and Resistance

S1 1.2458

S2 1.2615

S3 1.2676

Pivot Point 1.2772

R1 1.2833

R2 1.2929

R3 1.3086

The cable is consolidating in a sideways trading range of 1.2770 to 1.2725 level, as it has formed an ascending triangle pattern on the hourly timeframe. A bullish breakout of 1.2770 level can lead the Sterling price towards 1.2819 level on the higher side. Selling bias will be more substantial below the 1.2772 level. Good luck!

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Forex Signals

Hard Luck with AUD/USD Signal – What’s Next?

The AUD/USD extended its early-day gains and hit the intra-day high of 0.7069 marks mainly due to the broad-based U.S. dollar weakness. That was sponsored by the downbeat U.S. unemployment claims data, which fuel the fears that the U.S. economic recovery is failing. Apart from this, the market risk-on sentiment also undermined the safe-haven U.S. dollar and contributed to the currency pair gains. Across the pond, the gains in the S&P 500 futures, backed by the optimism over the coronavirus (COVID-19) vaccine/treatment, also lend further support to the currency pair.

The AUD/USD extended its early-day gains and hit the intra-day high of 0.7069 marks mainly due to the broad-based U.S. dollar weakness. That was sponsored by the downbeat U.S. unemployment claims data, which fuel the fears that the U.S. economic recovery is failing. Apart from this, the market risk-on sentiment also undermined the safe-haven U.S. dollar and contributed to the currency pair gains. Across the pond, the gains in the S&P 500 futures, backed by the optimism over the coronavirus (COVID-19) vaccine/treatment, also lend further support to the currency pair.

The AUD/USD extended its early-day gains and hit the intra-day high of 0.7069 marks mainly due to the broad-based U.S. dollar weakness. That was sponsored by the downbeat U.S. unemployment claims data, which fuel the fears that the U.S. economic recovery is failing. Apart from this, the market risk-on sentiment also undermined the safe-haven U.S. dollar and contributed to the currency pair gains. Across the pond, the gains in the S&P 500 futures, backed by the optimism over the coronavirus (COVID-19) vaccine/treatment, also lend further support to the currency pair.

Meanwhile, the hopes of the COVID-19 stimulus measures package also helped the marker trading sentiment gain further positive traction, undermining the perceived riskier Australian dollar and contributing to the currency pair gains. On the contrary, the downbeat Aussie trade data could be considered one of the key factors that kept the lid on any further gains in the currency pair. At this particular time, the AUD/USD currency pair is currently trading at 0.7060 and consolidating in the range between 0.7045 – 0.7069.

As per the latest report, Australia’s trade surplus shrank in August, released at 01:30 GMT showed. Details suggested that the Australian imports dropped by 7% month-on-month in August after July’s 7% rise. In the meantime, the exports also fell by 2% in August, having declined by 4% in July. The trade surplus decreased to AUD 4,294 million from AUD 4,607 million. However, the substantial fall in the inbound shipments suggested a weakening of national demand. Whereas, the consecutive monthly drop in outbound shipments indicates weak demand conditions in the global economy. This, in turn, becomes the key factor that limits the further upside in the currency pair.

Furthermore, the market risk tone was being supported by optimism over a possible vaccine and treatment for the highly infectious coronavirus. These positive vibes came after the report that Novavax Inc started a clinical late-stage trial of the coronavirus vaccine in the U.K. The experimental vaccine is produced on partnership terms with the government’s Vaccines Taskforce.

On the other hand, the reason for the upbeat trading sentiment could be associated with the talks concerning the U.S. coronavirus (COVID-19) stimulus package. Democrats in the U.S. House of Representatives recently spoke about their struggles over the $2.2 trillion COVID-19 stimulus package that could be voted on next week. Moreover, the hopes were further bolstered after the House of Representatives Speaker Nancy Pelosi and U.S. Treasury Secretary Steven Mnuchin hinted to resume delayed stimulus talks. This eventually exerted a positive impact on the market trading sentiment and extended support to the currency pair.

As in result, the broad-based U.S. dollar failed to gain any positive traction and edged lower on the day amid risk-off market sentiment. Moreover, the U.S. dollar losses could also be associated with the downbeat U.S. unemployment data, which fueled the fears that the U.S. economic recovery is failing. However, the losses in the U.S. dollar kept the AUD/USD currency pair higher.

At the U.S. data front, the number of U.S. claiming unemployment over the past week rose to 870,000, indicating a halt in the economic recovery and highlighting the pressing need for Congress to pass the support measures. This negative data failed to weigh the market trading sentiment. Besides, the market trading sentiment was rather unaffected by the reports suggesting the rise in COVID-19 cases globally.

The market traders will focus on FOMC Member Williams Speaks. Apart from this, the Durable Goods Orders m/m will also be key to watch. Meanwhile, the USD moves and coronavirus headlines will also closely follow to play a key role in the currency pair.


The AUD/USD signal hit stop loss as the pair failed to break above 38.2% Fibonacci retracement level of 0.7075. Unfortunately, the AUD/USD pair reversed below 0.7075 level and hit out stop loss. For now, the AUD/USD pair may trade bearish until the 0.7010 level, while a bearish crossover of 0.7010 may lead the AUD/USD price towards 0.6975. Let’s brace for the next setup before placing the next trade. Good luck!

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Forex Signals

NZDJPY Advances Boosted by Risk-On Sentiment

Description

Description

Description

The NZDJPY cross advances on Thursday trading session driven by the risk-on sentiment confirmed during the U.S. session opening, where the tech sector boosted the leading stocks indices. This bullish sentiment increases the possibility of a bounce in the commodity currencies.

The price of NZDJPY, exposed in its 15-minute chart, reveals the rejection of the bearish continuation once the price rebounded mainly bullish once it attempted to penetrate under the previous low of the current trading session located at 68,652.

On the other hand, from the sideways channel, we distinguish the possibility of activation of a double bottom pattern, leading to the price to strike the psychological barrier of 69.00, where the NZDJPY cross could start to find resistance.

Our bullish scenario foresees an escalation toward the level of 69.14, where the price could find intraday resistance. On the other hand, our upward scenario’s invalidation level locates below the baseline of the sideways channel at 68.59.

Chart

Trading Plan Summary

 

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Forex Signals

AUD/USD Selling Bias Continues to Dominate – Brace for Sell Trade


Entry Price – Sell 0.70216
Stop Loss – 0.70616
Take Profit – 0.69816
Risk to Reward – 1:1
Profit & Loss Per Standard Lot = -$400/ +$400
Profit & Loss Per Micro Lot = -$40/ +$40
Fellas, now you can check out forex trading signals via Forex Academy mobile app. Follow the links below.
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Forex Signals

GBP/USD Bounces off Support Level – Reason We Closed Signal Manually! 

The GBP/USD pair was closed at 1.27253 after placing a high of 1.27769 and a low of 1.26749. Overall the movement of the GBP/USD pair remained flat throughout the day. The GBP/USD pair remained flat due to mixed movements throughout the trading session. The pair closed its day at the same level it started its day with. In the first trading session, the pair continued to decline due to the strong US dollar and the UK’s coronavirus situation. However, the renewed Brexit hopes from Michel Barnier gave strength to the British Pound that recovered all of its daily losses and ended the GBP/USD pair’s day with a flat movement.

The GBP/USD pair was closed at 1.27253 after placing a high of 1.27769 and a low of 1.26749. Overall the movement of the GBP/USD pair remained flat throughout the day. The GBP/USD pair remained flat due to mixed movements throughout the trading session. The pair closed its day at the same level it started its day with. In the first trading session, the pair continued to decline due to the strong US dollar and the UK’s coronavirus situation. However, the renewed Brexit hopes from Michel Barnier gave strength to the British Pound that recovered all of its daily losses and ended the GBP/USD pair’s day with a flat movement.

The GBP/USD pair was closed at 1.27253 after placing a high of 1.27769 and a low of 1.26749. Overall the movement of the GBP/USD pair remained flat throughout the day. The GBP/USD pair remained flat due to mixed movements throughout the trading session. The pair closed its day at the same level it started its day with. In the first trading session, the pair continued to decline due to the strong US dollar and the UK’s coronavirus situation. However, the renewed Brexit hopes from Michel Barnier gave strength to the British Pound that recovered all of its daily losses and ended the GBP/USD pair’s day with a flat movement.

On the data front, at 13:30 GMT, the Flash Manufacturing PMI from Great Britain remained flat with the expectations of 54.3 in September. In September from the UK, the Flash Services PMI dropped to 55.1 from the projected 57.0 and previous 58.8 and weighed on British Pound.

The weak data from the UK exerted pressure on local currency. As the data suggested that manufacturing activity expanded while the services sector showed a drop in services activity in the UK. It was due to the announcement made by the Tory government to impose restrictions on bars, pubs, restaurants, and movie theaters to reduce the spread of coronavirus. PM Boris Johnson also issued a law not to have a gathering of more than six people; otherwise, it would be considered illegal. These restrictions impacted Britain’s economy and ultimately weighed on the Sterling and added pressure on GBP/USD prices.

Furthermore, the GBP/USD pair’s downside momentum could also be attributed to the strong rebound of the US dollar. The DXY- US Dollar Index rose above 94 Wednesday because of its safe-haven status and positive macroeconomic data.

The amount of uncertainty has recently increased over the effect of coronavirus cases globally and the increased tensions between the world’s two biggest economies. These uncertainties raised the safe-haven appeal that ultimately provided strength to the greenback and weighed on the GBP/USD pair.

Meanwhile, the greenback was also supported by the upbeat economic data on Wednesday with HPI in July at 1.0% against the forecast of 0.4% and Flash Manufacturing PMI at 53.5 against the forecasted 52.5. The US’s positive macroeconomic data raised the US dollar and exerted downside pressure on the GBP/USD pair that drove its prices to the lowest till 27th July.

However, the prices did not remain depressed and started to recover in Brexit’s hopes in the late trading session. On Wednesday, a top EU chief negotiator, Michel Barnier, said that the bloc was determined to get a Brexit trade deal with the UK. However, he also said that as the PM Boris Johnson has decided to break the withdrawal agreement, so the negotiations will be firm and realistic from the EU side.


This statement raised hopes that a Brexit deal was still on the table, and there were still chances that Britain would leave the European Union with a deal. These rising hopes and risk sentiment also raised the GBP/USD pair in the late trading session, and the pair produced a flat candle at the end of the day amid mixed market sentiment. 

Daily Technical losses

Support Resistance

1.2672 1.2776

1.2622 1.2828

1.2569 1.2879

Pivot point: 1.2725

On the technical side, the GBP/USD pair has bounced off above the support level of 1.2685 level, having tested the resistance level of 1.2790 level. The pair is trading within a downward channel which is also suggesting selling bias around 1.2780 level. However, our forex trading signal in GBP/USD was a bit risky; therefore, we decided to close the trade and hold the one in EUR/USD pair. Let’s wait for the next trade from our side now. Good luck! 

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Forex Signals

EUR/USD Breaking Below Intraday Support – Downward Channel In Play!

The EUR/USD pair was closed at 1.16598 after placing a high of 1.17187 and a low of 1.16511. Overall the movement of the EUR/USD pair remained bearish throughout the day. On Wednesday, the pair EUR/USD extended its losses and dropped for 4th consecutive session on the back of broad-based US dollar strength and resurgence of coronavirus cases in Europe.

The EUR/USD pair was closed at 1.16598 after placing a high of 1.17187 and a low of 1.16511. Overall the movement of the EUR/USD pair remained bearish throughout the day. On Wednesday, the pair EUR/USD extended its losses and dropped for 4th consecutive session on the back of broad-based US dollar strength and resurgence of coronavirus cases in Europe.

The EUR/USD pair was closed at 1.16598 after placing a high of 1.17187 and a low of 1.16511. Overall the movement of the EUR/USD pair remained bearish throughout the day. On Wednesday, the pair EUR/USD extended its losses and dropped for 4th consecutive session on the back of broad-based US dollar strength and resurgence of coronavirus cases in Europe.

On the data front, the German GfK Consumer Climate in September came in as -1.6against the forecasted -1.0 and previous -1.7 and weighed on the local currency that added further pressure on EUR/USD pair prices.

At 12:15 GMT, the French Flash Services PMI dropped to 47.5 in September from the forecasted 52.2 and weighed on Euro. Simultaneously, the French Flash Manufacturing PMI in September remained flat with the expectations of 50.9.

At 12:30 GMT, the German Flash Manufacturing PMI rose to 55.6 in September from the anticipated 52.0 and supported Euro. The German Flash Services PMI dropped to 49.1 from the expected 53.0 and weighed on Euro that added further pressure on EUR/USD pair. At 13:00 GMT, the Flash Manufacturing PMI rose to 53.7 from the forecasted 51.5 and supported single currency Euro. Simultaneously, the Flash Services PMI from the Eurozone declined to 47.6 against the anticipated 51.0 and weighed on Euro.

The Services sector in France, Germany, and the whole bloc was contracted during September due to an increased number of restrictive measures amid the coronavirus spread. The rising number of coronavirus in Europe has forced many countries to re-introduce restrictive measures like closing bars, restaurants, parks, and public gatherings. This has weighed heavily, not on the economic indicators but also the local currency that ultimately dragged the EUR/USD pair on Wednesday.

Furthermore, on the US front, the US dollar was also strong across the board that helped drag the EUR/USD prices on the downside. The US dollar has recently regained its safe-haven status and is continuously picking up pace due to rising appeal for a safe haven.

The latest comments in UN Annual General Assembly from US President Donald Trump against China raised global tensions on Wednesday. Trump blamed China and called the UN to hold China accountable for the worldwide spread of coronavirus. In contrast, Beijing called Trump a liar and said that he should respect the UN forum.

The rising tensions between the US & China gave a boost to US dollar prices and helped the EUR/USD pair to drop further. The US dollar was also strong because of the positive US economic data on the day as HPI in July rose to 1.0% from 0.4% of expectations, and the Flash Manufacturing PMI expanded with 53.5 points against the forecasted 52.5. The US Dollar Index also rose to its 8-weeks highest level at about 94.21 and posted gains. The strong US dollar added downside pressure on EUR/USD pair’s prices.


Daily Technical Levels

Support Resistance

1.1674 1.1757

1.1641 1.1807

1.1591 1.1839

Pivot point: 1.1724

The selling bias of the EUR/USD proceeds to control the market as it’s implementing selling bias at 1.1650. The bearish breakout of the 1.1650 level can stretch the downward trend unto the 1.1590 level while resistance lingers at the 1.1670 level. Checkout a trading plan below…

Entry Price – Sell 1.16521

Stop Loss – 1.16921

Take Profit – 1.16121

Risk to Reward – 1:1

Profit & Loss Per Standard Lot = -$400/ +$400

Profit & Loss Per Micro Lot = -$40/ +$40

Fellas, now you can check out forex trading signals via Forex Academy mobile app. Follow the links below.

iPhone Users: https://apps.apple.com/es/app/fasignals/id1521281368

Andriod Users: https://play.google.com/store/apps/details?id=academy.forex.thesignal&hl=en_US

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Forex Signals

CADJPY Shows Intraday Bounce Signals

Description

Description

Description

The CADJPY cross exposes an intraday bounce structure that suggests the possibility of an upward movement, which could surpass the Wednesday trading session high at 79.09, leading to the price toward a new intraday high.

From the 30-minute chart, we observe the low of the week’s bullish reaction at 78.371 from where the price action reacted mostly upward. The price looks stopping the bearish pressure during the current trading session, developing an intraday double bottom pattern, which remains in progress.

On the other hand, the extreme bearish sentiment in the stock market leads us to expect an upward turn in the downward intraday session, increasing the possibility of weakness in the Japanese currency.

Our bullish scenario foresees an upward movement toward the September 18th consolidation high located at level 79.295, from where the price should find resistance. The invalidation level of our outlook locates at 78.52.

Chart

Trading Plan Summary

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Forex Signals

Bullish Bias in USD/CAD Dominates Amid Stronger Dollar – Signal Update!  

The USD/CAD pair extended its upward momentum to its highest level since 12th August, however, in the late trading session, the pair reversed its direction and closed its day with losses. The pair’s upward trend could be attributed to the strong rebound of the US dollar across the board due to more hawkish comments from the Federal Reserve officials and US Secretary Steven Mnuchin. In their testimony to Congress, the Federal Reserve Chairman Jerome Powell and US Treasury Secretary Steven Mnuchin gave their views about the economic condition and strategies.

The USD/CAD pair extended its upward momentum to its highest level since 12th August, however, in the late trading session, the pair reversed its direction and closed its day with losses. The pair’s upward trend could be attributed to the strong rebound of the US dollar across the board due to more hawkish comments from the Federal Reserve officials and US Secretary Steven Mnuchin. In their testimony to Congress, the Federal Reserve Chairman Jerome Powell and US Treasury Secretary Steven Mnuchin gave their views about the economic condition and strategies.

The USD/CAD pair extended its upward momentum to its highest level since 12th August, however, in the late trading session, the pair reversed its direction and closed its day with losses. The pair’s upward trend could be attributed to the strong rebound of the US dollar across the board due to more hawkish comments from the Federal Reserve officials and US Secretary Steven Mnuchin. In their testimony to Congress, the Federal Reserve Chairman Jerome Powell and US Treasury Secretary Steven Mnuchin gave their views about the economic condition and strategies.

Powell reiterated that the economic indicators were showing improvement in the market but still, there was a lot dependent on the coronavirus pandemic. He also said that country had left behind the depressed days where economic activities were shut down due to the coronavirus pandemic, but there is still much left to be done.

Whereas, Mnuchin stressed the need for the next round of stimulus measures and urged Congress to announce it soon. Another Fed official Charles Evans said that Fed’s interest rates could be raised before the 2% inflation target is met, and this raised the bars for the US dollar across the board. The US Dollar Index rose above 94 levels and pushed the USD/CAD pair above 1.334 level on Tuesday, highest since mid-August. 

However, the USD/CAD pair’s gains could not live for long and started to decline in the second half of the day despite the declining crude oil prices. The Canadian Dollar came under pressure when the crude oil prices dropped to $39 level on Tuesday amid the rising tensions between the US & China and coronavirus’s global resurgence.

The fears that rising coronavirus cases worldwide could force renewed lockdown measures globally as the European countries were re-imposing restrictive measures to curb the spread of coronavirus weighed on Crude oil prices on Tuesday. Meanwhile, the rising tensions between the US & China over the South China Sea after the US called for help from Europe and other allies against China’s claim to lands in the South China Sea, also exerted pressure on Crude oil prices. The declining crude oil prices weighed on the Canadian Dollar, and the USD/CAD prices reached its highest since 12th August. 


Technically, the USD/CAD pair has violated the strong resistance level of 1.3345, and on the higher side, the target for USD/CAD is likely to stay at 1.3394. The 50 EMA and the MACD are supporting the upward movement in the market; therefore, we have opened a buy trade in the USD/CAD pair. Let’s follow the below trade plan… 

Entry Price – Buy 1.33457

Stop Loss – 1.33057

Take Profit – 1.33857

Risk to Reward – 1:1

Profit & Loss Per Standard Lot = -$400/ +$400

Profit & Loss Per Micro Lot = -$40/ +$40

Fellas, now you can check out forex trading signals via Forex Academy mobile app. Follow the links below.

iPhone Users: https://apps.apple.com/es/app/fasignals/id1521281368

Andriod Users: https://play.google.com/store/apps/details?id=academy.forex.thesignal&hl=en_US

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Forex Signals

Gold Price Forecast, Sept 23 – Bearish Bias Dominates Amid Stronger USD! 

Today in the European trading session, the yellow metal prices failed to stop its early-day losing streak and still gaining negative traction around the $1,885 level, having hit the low of $1,873 level on the day. However, the broad-based U.S. dollar strength could be considered one of the main reasons behind the bullion losses. Hence, the U.S. dollar was supported by a strong U.S. housing market against rising global COVID-19 cases. 

Today in the European trading session, the yellow metal prices failed to stop its early-day losing streak and still gaining negative traction around the $1,885 level, having hit the low of $1,873 level on the day. However, the broad-based U.S. dollar strength could be considered one of the main reasons behind the bullion losses. Hence, the U.S. dollar was supported by a strong U.S. housing market against rising global COVID-19 cases. 

Today in the European trading session, the yellow metal prices failed to stop its early-day losing streak and still gaining negative traction around the $1,885 level, having hit the low of $1,873 level on the day. However, the broad-based U.S. dollar strength could be considered one of the main reasons behind the bullion losses. Hence, the U.S. dollar was supported by a strong U.S. housing market against rising global COVID-19 cases. 

Apart from this, the bullish bias in the U.S. dollar was further bolstered by the U.S. stimulus package’s hopes. Across the pond, the on-going progress around the S&P 500 Futures, backed by the hopes of the COVID-19 vaccine and further U.S. stimulus, also weighed on the yellow metal price. Elsewhere, the reason behind the upbeat S&P 500 Futures could also be associated with U.S. positive data, which tends to fuel the hopes of the U.S. economic recovery. 

On the contrary, the geopolitical tensions between China and some notable countries like the U.S. and U.K. became the key factor that helped the yellow-metal prices limit its deeper losses. The coronavirus (COVID-19) crisis also keeps challenging the market upbeat trading sentiment, which might give some support to the yellow metal prices.

Despite the concerns about the 2nd-round of coronavirus infections, the market trading sentiment has been flashing green since the day started. Thus, the on-going positive tone around the equity market tends to undermine the safe-haven metal. However, the market sentiment was being supported by the strong U.S. housing market. 

Detail suggested that the existing home sales rose to 6 million in August, the highest level in nearly 14 years. Moreover, the market risk sentiment was further bolstered by the Fed Chair Jerome Powell’s measured comments. He said on Tuesday that it might be possible for the Fed to raise interest rates before inflation starts to average 2%. This, in turn, underpinned the safe-haven U.S. dollar and contributed to the currency pair. 

Moreover, the market trading sentiment was further bolstered by the reports suggesting that the U.S. House of Representatives has announced a bill to support government spending ahead of a shutdown, which also boosted the Us dollar and contributed to the gold prices losses.

As a result, the broad-based U.S. dollar managed to maintain its previous session gains and still flashed green on the day amid upbeat U.S. data and pullback in technology shares. However, the U.S. dollar gains seem rather unaffected by the upbeat market tone and held its gaining streak, at least for now. Thus, the U.S. dollar gains kept the gold prices under pressure as the price of gold is negatively related to the U.S. dollar price. Whereas, the U.S. Dollar Index that tracks the greenback against a basket of other currencies edged up 0.18% to 94.162 by 9:38 PM ET (1:38 AM GMT). Furthermore, the second round of coronavirus infections keeps challenging the market risk tone, which might help the gold prices limit its deeper losses. As per the latest report, the U.S. has crossed 200,000 COVID-19 deaths tolls, and multiple European countries are imposing lockdown restrictions. Meanwhile, the U.K. set stricter measures on Tuesday, suggesting that the previous lockdown may need to be reimposed. 


Looking forward, the market traders will keep their eyes on the preliminary readings of September month PMIs from the U.K., Europe, and the U.S. for fresh direction. Meanwhile, the USD price dynamics and coronavirus headlines will be key to watch. Across the pond, the Fed Chair Jerome Powell’s second day of the congressional testimony will also b key to watch.

Daily Support and Resistance

S1 1858.21

S2 1881.21

S3 1890.7

Pivot Point 1904.2

R1 1913.7

R2 1927.2

R3 1950.19

Gold price extends to trade distinctly bearish at 1,890 level, disrupting the triple bottom support level of 1,903. On the lower side, gold may sink further until the next support level of 1,877 and 1,862. At the same time, resistance holds around 1,903 and 1,919 level. The bearish bias remains dominant today. Good luck! 

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Forex Signals

GBP/USD Breaks Below Double Bottom – Quick Green Pips!

The GBP/USD currency pair extended its previous day losing streak and hit the multi weeks low near below the 1.2700 level. The GBP/USD hit a multi-day low the previous day after the Bank of England (BOE) Governor Andrew Bailey delivered downbeat comments and UK PM Boris Johnson announced activity restrictions to control the coronavirus (COVID-19) resurgence risk. Apart from this, the losses in the currency pair were further bolstered by the reports suggesting that the U.K.’s virus-lead deaths raised to a 2-month high, which fueled the worries about the U.K. economic recovery and undermined the GBP currency.

The GBP/USD currency pair extended its previous day losing streak and hit the multi weeks low near below the 1.2700 level. The GBP/USD hit a multi-day low the previous day after the Bank of England (BOE) Governor Andrew Bailey delivered downbeat comments and UK PM Boris Johnson announced activity restrictions to control the coronavirus (COVID-19) resurgence risk. Apart from this, the losses in the currency pair were further bolstered by the reports suggesting that the U.K.’s virus-lead deaths raised to a 2-month high, which fueled the worries about the U.K. economic recovery and undermined the GBP currency.

The GBP/USD currency pair extended its previous day losing streak and hit the multi weeks low near below the 1.2700 level. The GBP/USD hit a multi-day low the previous day after the Bank of England (BOE) Governor Andrew Bailey delivered downbeat comments and UK PM Boris Johnson announced activity restrictions to control the coronavirus (COVID-19) resurgence risk. Apart from this, the losses in the currency pair were further bolstered by the reports suggesting that the U.K.’s virus-lead deaths raised to a 2-month high, which fueled the worries about the U.K. economic recovery and undermined the GBP currency.

At the data front, the U.S. data showed that existing home sales rose to 6 million in August, the highest level in nearly 14 years. Moreover, the market risk sentiment was further bolstered by the Fed Chair Jerome Powell’s measured comments. He said on Tuesday that it might be possible for the Fed to raise interest rates before inflation starts to average 2%.

As a result, the broad-based U.S. dollar succeeded in maintaining its positive traction and remaining bullish on the day amid upbeat U.S. data and pullback in technology shares. However, the U.S. dollar gains seem rather unaffected by the upbeat market tone and held its gaining streak, at least for now. Thus, the U.S. dollar gains could be considered the major factor that kept the currency pair under pressure.

Additionally, weighing on the quote could be the BOE Governor Bailey’s statement, which raised concerns over the economic instability even before the activity restrictions, which increased courtesy to the watch today’s preliminary readings of September month PMI numbers. At the Brexit front, the discussions need a push on fisheries and less noise over the Internal Market Bill (IMB) to break the deadlock in talks. However, the U.K. parliament recently agreed to have a say over whether the IMB will break the Brexit Withdrawal Agreement Bill or not; if yes, it must not harm Northern Ireland.


The GBP/USD traded sharply bearish at 1.2678 support level, having violated the upward channel on the hourly chart. The already violated triple bottom level of 1.2780 is likely to keep the GBP/USD pair under pressure, below this pair can drop towards 1.2678 and 1.2603 level. On the higher side, the Sterling may drive upward movement until the 1.2780 level. We have already closed signal at profit and now we will be waiting a bit to capture next one.

Entry Price – Sell 1.27138
Stop Loss – 1.27538
Take Profit – 1.26738
Risk to Reward – 1:1
Profit & Loss Per Standard Lot = -$400/ +$400
Profit & Loss Per Micro Lot = -$40/ +$40
Fellas, now you can check out forex trading signals via Forex Academy mobile app. Follow the links below.
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Forex Signals

AUD/USD Intraday Support Breakout Setup – Brace for Sell Setup! 

The AUD/USD closed at 0.71693 after placing a high of 0.72349 and a low of 0.71693. The AUD/USD pair declined for a third consecutive day on Tuesday to its lowest level since the 25th of August on the back of broad-based US dollar strength and dovish comments from RBA Deputy Governor Guy Debelle. 

The AUD/USD closed at 0.71693 after placing a high of 0.72349 and a low of 0.71693. The AUD/USD pair declined for a third consecutive day on Tuesday to its lowest level since the 25th of August on the back of broad-based US dollar strength and dovish comments from RBA Deputy Governor Guy Debelle. 

The AUD/USD closed at 0.71693 after placing a high of 0.72349 and a low of 0.71693. The AUD/USD pair declined for a third consecutive day on Tuesday to its lowest level since the 25th of August on the back of broad-based US dollar strength and dovish comments from RBA Deputy Governor Guy Debelle. 

On Tuesday, the Deputy Governor of Reserve Bank of Australia, Guy Debelle, said that the bank assessed various monetary policy options, including market intervention and negative interest rates, to reach its inflation and employment goals. 

The current rate of interest of RBA is at its record low of 0.25%that was slashed in an emergency meeting in mid-March to secure the Australian economy from falling into recession due to coronavirus pandemic induced lockdowns. RBA also launched an unlimited government bond-buying program and a cheap funding facility for banks. Debelle said that RBA’s board assessed other policy options as the outlook for inflation and employment was not consistent with the bank’s goals. Some under observation options were buying government bonds with maturities beyond three years as the RBA is currently targeting a 3-year yield at 0.25%. 

The statement that the negative interest rate was also an option that RBA was considering weighed heavily on Aussie and dragged the pair AUD.USD pair on Tuesday. Meanwhile, from the US side, Jerome Powell and Treasury Secretary Steven Mnuchin before the US Congress were held on Tuesday. Powell said that a lot of the economic recovery was still dependent on the coronavirus developments; however, the economic indicators showed improvements. 

Whereas, Steven Mnuchin said that another round of stimulus measures was needed for better recovery. Another Fed official Charles Evans said that interest rates could be raised before inflation reached 2%. These comments increased the US dollar strength across the board, lifted the US dollar Index above 94 levels, and added further pressure on AUD/USD pair prices. On the data front, the Richmond Manufacturing Index from the US raised to 21 points from the projected 12 points and supported the US dollar that weighed on already declining AUD/USD prices. 


The bearish bias dominates the AUD/USD pair as it trades at 0.7132 level. The candle’s closing over 0.71140 can trigger buying until 0.7160, but overall bias seems bearish below the 0.7165 level. On the lower side, a breakout of 0.7102 level may drive selling until 0.7075.

Entry Price – Sell 0.71263

Stop Loss – 0.71663

Take Profit – 0.70863

Risk to Reward – 1:1

Profit & Loss Per Standard Lot = -$400/ +$400

Profit & Loss Per Micro Lot = –$40/ +$40

Fellas, now you can check out forex trading signals via Forex Academy mobile app. Follow the links below.

iPhone Users: https://apps.apple.com/es/app/fasignals/id1521281368

Andriod Users: https://play.google.com/store/apps/details?id=academy.forex.thesignal&hl=en_US

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Forex Signals

USD/CAD Extend Previous Session Bullish Bias – Brace to Capture Quick Buy!

Today in the European trading session, the USD/CAD currency pair successfully extended its previous session winning streak and consolidated the previous day’s strong positive move to a 6-week high. However, the pair’s positive tone could be associated with the broad-based US dollar on-going strength, backed by the risk-off market tone.

Today in the European trading session, the USD/CAD currency pair successfully extended its previous session winning streak and consolidated the previous day’s strong positive move to a 6-week high. However, the pair’s positive tone could be associated with the broad-based US dollar on-going strength, backed by the risk-off market tone.

Today in the European trading session, the USD/CAD currency pair successfully extended its previous session winning streak and consolidated the previous day’s strong positive move to a 6-week high. However, the pair’s positive tone could be associated with the broad-based US dollar on-going strength, backed by the risk-off market tone.

The reason for the USD/CAD pair bullish bias could also be attributed to the steep fall in crude oil prices, which tend to weaken the demand for the commodity-linked currency the loonie, and contributed to the currency pair gains. Currently, the USD/CAD currency pair is currently trading at 1.3314 and consolidating in the range between 1.3296 – 1.3346. Moving on, the traders seem cautious to place any strong position amid expectations that the Fed Chair Jerome Powell will reaffirm to keep interest rates lower for longer during his congressional testimony later on the day.

Intensifying probabilities of fresh lockdown measures to control the 2nd-wave of coronavirus outbreak pushed global equity markets down. This, in turn, boosted the US dollar’s status as the reserve currency. The latest headlines suggest that the US Secretary of State Mike Pompeo took help from France, Germany, and the UK to reject China’s South China Sea claims at the United Nations (UN).

The broad-based US dollar has resumed its gaining streak at the USD front since the European session started and was being supported by some heavy selling pressure around the equity market. Meanwhile, the concerns about rising US-China tensions also increased the safe-haven demand in the market, which also helps the US dollar as it safe-aven status.

The crude oil prices failed to stop its previous session across the ocean, losing streak and taking rounds below the $40.00 mark. Nevertheless, the bearish bias around the crude oil prices could be attributed to the renewed worries over the economic recovery after the coronavirus (COVID-19) resurgence in Europe and the United Kingdom.


Besides, the possibilities of Libya resuming oil exports added further bearish pressures around the crude oil prices. Thus, the declines in oil prices undermined demand for the commodity-linked currency the loonie and contributed to the currency pair gains.

Entry Price – Buy 1.32706
Stop Loss – 1.32306
Take Profit – 1.33106
Risk to Reward – 1:1
Profit & Loss Per Standard Lot = -$400/ +$400
Profit & Loss Per Micro Lot = -$40/ +$40
Fellas, now you can check out forex trading signals via Forex Academy mobile app. Follow the links below.
iPhone Users: https://apps.apple.com/es/app/fasignals/id1521281368
Andriod Users: https://play.google.com/store/apps/details?id=academy.forex.thesignal&hl=en_US