Category: Forex Signals

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

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Forex Signals

Gold Price Forecast, Sept 22 – Choppy Session in Play! 

The safe-haven-metal prices failed to stop its previous session losing streak and catch further offers near below $1,900 level, mainly due to the broad-based U.S. dollar strength triggered by the risk-off market sentiment. Thus, the broad-based U.S. dollar strength from the multi-month low could be recognized as one of the main causes behind the yellow-metal latest weakness as the market’s risk-off wave tend to prefer the U.S. dollar above all, which in turn has an inverse correlation with the safe-haven yellow metal. The losses in the safe-haven U.S. dollar could be short-lived or temporary as the second wave of coronavirus continuously picks up the pace, which fuels worries over the U.S. economic recovery. 

The safe-haven-metal prices failed to stop its previous session losing streak and catch further offers near below $1,900 level, mainly due to the broad-based U.S. dollar strength triggered by the risk-off market sentiment. Thus, the broad-based U.S. dollar strength from the multi-month low could be recognized as one of the main causes behind the yellow-metal latest weakness as the market’s risk-off wave tend to prefer the U.S. dollar above all, which in turn has an inverse correlation with the safe-haven yellow metal. The losses in the safe-haven U.S. dollar could be short-lived or temporary as the second wave of coronavirus continuously picks up the pace, which fuels worries over the U.S. economic recovery. 

The safe-haven-metal prices failed to stop its previous session losing streak and catch further offers near below $1,900 level, mainly due to the broad-based U.S. dollar strength triggered by the risk-off market sentiment. Thus, the broad-based U.S. dollar strength from the multi-month low could be recognized as one of the main causes behind the yellow-metal latest weakness as the market’s risk-off wave tend to prefer the U.S. dollar above all, which in turn has an inverse correlation with the safe-haven yellow metal. The losses in the safe-haven U.S. dollar could be short-lived or temporary as the second wave of coronavirus continuously picks up the pace, which fuels worries over the U.S. economic recovery. 

On the contrary, the market risk-off sentiment, triggered by the reappearance of coronavirus cases, becomes key factors that kept a check on any additional losses in the gold. Apart from this, the on-going US-China tussle over the South China Sea might also help the gold prices to limit its deeper losses. As of writing, the yellow metal prices are currently trading at 1,901.96 and consolidates in the range between the 1,894.90 – 1,919.90.

As we all know, the market risk tone has been sour since the day started, and the reason could be associated with the long-lasting US-China tussle and growing market worries about the ever-increasing number of coronavirus cases. Elsewhere, the risk-off market sentiment was further bolstered by the long-lasting tussle between the United States and China, which became further soured after U.S. Secretary of State Mike Pompeo took helps from France, Germany, and the U.K. to reject China’s claims of the South China Sea at the United Nations (U.N.). This eventually placed a downside pressure on the market trading sentiment and underpinned the safe-haven assets. 

Apart from the Sino-American tussle, the expectations that the much-awaited U.S. phase 4 fiscal package will also be delayed favored the risk-off market. The U.S. dollar succeeded in stopping its early-day losses and took the safe-haven bids on the day amid market risk-off sentiment. However, the U.S. dollar gains could be short-lived or temporary due to the worries that the economic growth in the U.S. could be stopped because of the reappearance of coronavirus cases. However, the U.S. dollar gains kept the gold prices under pressure as the price of gold is inversely related to the price of the U.S. dollar. Whereas, the U.S. Dollar Index, which tracks the greenback against a basket of other currencies, edged higher 0.04% to 93.602 by 9:48 PM ET (1:48 AM GMT).

Looking forward, the market players will keep their eyes on the comments from the U.S. Federal Reserve Chairman Jerome Powell and other Fed policymakers. Meanwhile, the on-going drama surrounding the US-China relations and updates about the U.S. stimulus package will not lose its importance. Given the holiday in Japan, due to the Autumnal Equinox Day, coupled with an absence of major data/events, the USD moves and coronavirus headline will be key to watch.


Daily Support and Resistance

S1 1920.66

S2 1941.35

S3 1950.45

Pivot Point 1962.04

R1 1971.14

R2 1982.73

R3 2003.42

Gold prices dropped distinctly from 1,935 mark to 1,888 level in the wake of the hawkish Fed Chair Jerome Powell’s speech. The precious metal is currently jumping off to achieve 38.2% Fibonacci retracement at 1,914, and beyond this, the following resistance lingers at 1,921 and 1,930. Let’s keep a focus on 1,907 today as gold can trade bullish beyond this and bearish beneath the same level today. Good luck! 

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Forex Signals

AUD/USD Bearish Breakout, Fakesout – Quick Update on Signal!  

During Tuesday’s early European trading hours, the AUD/USD currency pair failed to erase its early-day losses and took further offers near below the 0.7200 marks, mainly due to the risk-off market sentiment backed by the escalation of tensions between the U.S. and China. Furthermore, the virus worries and the inability to pass the U.S. fiscal package also weighed on the risk sentiment, undermining the perceived riskier Australian dollar and contributing to the currency pair gains. 

During Tuesday’s early European trading hours, the AUD/USD currency pair failed to erase its early-day losses and took further offers near below the 0.7200 marks, mainly due to the risk-off market sentiment backed by the escalation of tensions between the U.S. and China. Furthermore, the virus worries and the inability to pass the U.S. fiscal package also weighed on the risk sentiment, undermining the perceived riskier Australian dollar and contributing to the currency pair gains. 

During Tuesday’s early European trading hours, the AUD/USD currency pair failed to erase its early-day losses and took further offers near below the 0.7200 marks, mainly due to the risk-off market sentiment backed by the escalation of tensions between the U.S. and China. Furthermore, the virus worries and the inability to pass the U.S. fiscal package also weighed on the risk sentiment, undermining the perceived riskier Australian dollar and contributing to the currency pair gains. 

The broad-based U.S. dollar strength backed by the market’s safe-haven demand also contributed to the currency pair losses. Moreover, the currency pair’s losses were further bolstered by the RBA Deputy Governor Guy Debelle’s less-confident comment. 

On the 2nd-day of the week, the Aussie buyers have nothing to cheer. Be it coronavirus woes or the further hardships for the Sino-American trade deal, not to forget the long-lasting inability to pass the U.S. fiscal package, everything has fueled the market risk-off sentiment, which tends to undermine the perceived riskier Australian dollar and contributed to the currency pair losses. 

At the US-China front, the long-lasting tussle between the United States and China became further soured after U.S. Secretary of State Mike Pompeo took helps from France, Germany, and the U.K. to reject China’s claims of the South China Sea at the United Nations (U.N.). This eventually exerted downside pressure on the market trading sentiment and undermined the Australian dollar’s perceived riskier and contributed to the currency pair losses. 

On the other hand, the struggle of the U.S. Congress to break the stimulus deadlock ahead of the September-end deadline keeps the traders cautious as Democrats and Republicans still have differences over the package’s size. Besides this, the renewed coronavirus woes and fears of fresh lockdown measures to curb the second wave of the outbreak also kept the market trading sentiment under pressure. At the coronavirus front, the coronavirus (COVID-19) resurgence in Europe and the U.K. is picking up further pace, which keeps the fears of the lockdowns on the cards. As per the latest report, the authorities in the U.K. recently announced restrictions over activities. Simultaneously, regional lockdowns have been in practice in some parts of the bloc, and the pubs and restaurants in the U.K. ordered to close at 10:00 PM. 

Considering the coronavirus (COVID-19) condition, the BOE policymakers marked their pessimism while the European Central Bank (ECB) President Christine Lagarde and Germany’s Finance Minister Olaf Scholz have already shared its dovish view over the virus. Across the pond, the Fed Chairman’s first version of testimony also cited that the track ahead for the economy remains “highly uncertain”, which in turn keeps the market trading sentiment under pressure and helps the safe-haven assets. 

As a result, the broad-based U.S. dollar succeeded in extending its previous session gains and remained well bid on the day as investors turned to the safe-haven in the wake of an intensified tussle between US-China. Thus, the gains in the U.S. dollar kept the currency pair lower. Whereas, the U.S. Dollar Index, which tracks the greenback against a basket of other currencies, edged higher 0.04% to 93.602 by 9:48 PM ET (1:48 AM GMT).

Additionally, weighing on the currency pair could be the RBA Deputy Governor Guy Debelle’s negative comments that lower the exchange rate would surely help the economy. He further added that the economy is currently facing a gradual and uneven recovery. He also noted that the Aussie dollar is broadly aligned with fundamentals, and intervention may not be effective.

In the absence of significant data on the day, 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. Whereas, the release of Existing Home Sales and Richmond Manufacturing Index will be key to watch.


The bearish bias dominates the AUD/USD pair as it trades over a double bottom support level of 0.7191 level. Holding above 0.7191 level can extend bullish bias; however, the pair may find an immediate resistance at 0.7234 level. A bullish crossover of 0.7234 level is likely to drive a bullish trend until the 0.7290 level today. On the lower side, the pair may find support at 0.7143 level. The signal is already closed at stop loss, as the bearish breakout setup has become a fakeout setup, and the AUD/USD pair is now moving upwards. Let’s brace for the next trade setup. Good luck! 

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Forex Signals

EURAUD Shows Bullish Continuation Signals

Description

Description

Description

The EURAUD cross develops an intraday bullish movement in the first trading session of the week after revealing a false bearish breakdown exposed in the sideways range that the cross sets since Friday, September 18th.

EURAUD, in its hourly chart, illustrates a short-term bullish sequence, which began on September 17th when the price reacted mainly bullish once it touched for the second time the zone of 1.61252 from where it started to advance, developing a sequence of higher highs and lower highs.

On the other hand, the MACD oscillator shows a short-term bullish bias, which supports the possibility of further advances in the EURAUD price. Likewise, although the price remains within a sideways intraday range, the channel’s upper zone’s re-test leads us to expect a bullish breakout, which increases since the price made a false break in the current trading session.

Our bullish scenario foresees an advance from the zone of 1.6248, from where we expect an advance until 1.6348, coinciding with the September 8th high. The invalidation level is located at 1.6198, which coincides with the base of the sideways channel.

Chart

Trading Plan Summary

 

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Forex Signals

GBPAUD Raises After Intraday Breakout

Description

Description

Description

The GBPAUD cross advances on the first trading session o Monday in its of the week boosted by the risk-off sentiment in the currency market.

From the GBPAUD chart, in its hourly timeframe, we distinguish the intraday breakout after the price failed its intraday decline founding support at 1.76331, from where fresh buyers took the market bias control boosting the price to surpass and break the descending intraday trendline.

In this regard, the consolidation above the downward trendline added to the 135-hour moving average leads us to expect a bullish movement that could advance toward the September 17th high located at 1.78394, where the cross could find resistance.

Our bullish foresees an upward move from the zone of 1.7718 with a potential profit target at 1.7838. The invalidation level of our scenario is located at 1.7648 that coincides with the last daily low.

Chart

Trading Plan Summary

  • Entry Level: 1.7728
  • Protective Stop: 1.7648
  • Profit Target: 1.7838
  • Risk/Reward Ratio: 1.38
  • Position Size: 0.01 lot per $1,000 in trading account.

 

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Forex Signals

USD/CAD Bounces off to test Resistance Level – Brace for Buy Signal! 

The USD/CAD currency pair failed to stop its previous session declining rally and took some further offers while refreshing 3-day lows, around the 1.3135 regions in the last hour. However, the sentiment around the currency pair was being pressured by the US dollar’s selling tone. Hence, the broad-based US dollar weakness could be associated with the renewed optimism over a possible vaccine for the highly infectious coronavirus disease, which eventually forced investors to continue dumping the safe-haven greenback. 

The USD/CAD currency pair failed to stop its previous session declining rally and took some further offers while refreshing 3-day lows, around the 1.3135 regions in the last hour. However, the sentiment around the currency pair was being pressured by the US dollar’s selling tone. Hence, the broad-based US dollar weakness could be associated with the renewed optimism over a possible vaccine for the highly infectious coronavirus disease, which eventually forced investors to continue dumping the safe-haven greenback. 

The USD/CAD currency pair failed to stop its previous session declining rally and took some further offers while refreshing 3-day lows, around the 1.3135 regions in the last hour. However, the sentiment around the currency pair was being pressured by the US dollar’s selling tone. Hence, the broad-based US dollar weakness could be associated with the renewed optimism over a possible vaccine for the highly infectious coronavirus disease, which eventually forced investors to continue dumping the safe-haven greenback. 

Apart from this, the doubts over the US fiscal stimulus measures and upbeat China data also weighed on the broad-based US dollar. On the contrary, the subdued/range-bound trading moves around the crude oil prices could be considered one of the key factors that kept the lid on any additional currency pair losses. At the time of writing, the USD/CAD currency pair is currently trading at 1.3162 and consolidating in the range between 1.3132 – 1.3187.

The global market trading sentiment got a strong boost after AstraZeneca resumed phase-3 clinical trials of its COVID-19 vaccine candidate. As per the latest report, the Chinese CDC chief biosafety expert recently confirmed that the Ordinary Chinese could take the COVID19 vaccine as early as November or December as the phase III clinical trial went very smoothly. Besides, Pfizer and BioNTech also boosted vaccine hopes while saying that they are also looking to expand their candidates’ trials. 

Furthermore, the risk-on market sentiment was further bolstered after the release of stronger-than-expected Chinese industrial production data, which strengthened the hopes that the world’s second-largest economy is returning to normal and weighed over the US dollar. At the data front, China’s August Retail Sales YoY, the number came at 0.5%. 0% exp and -1.1% last, with Industrial Output YoY at +5.6% and +5.1% exp and +4.8% last. In the meantime, the Fixed Asset Investment YoY unchanged at -0.3% vs. -0.4% expected and -1.6% last. At the same time, China’s January-August Private Sector Fixed Asst Investment dropped by 2.8% YoY.  

As a result, the broad-based US dollar failed to gain any positive traction and remained bearish. Moreover, the US dollar losses could also be attributed to the doubts over the US fiscal stimulus measures. The chances for a comprehensive stimulus seem weakened after Democratic voted to block a Republican bill that would have provided around $300 billion in new coronavirus aid. However, the losses in the US dollar kept the USD/CAD currency pair under pressure. Whereas, the US dollar index dropped to 93.029, slipping further from a one-month high of 93.664 touched last Wednesday, with its low last week of 92.695 seen as immediate support.

However, the market trading sentiment was rather unaffected by the rising global COVID-19 cases, fears of no-deal Brexit, and the Sino-American tussle. At the US-China front, Sino-US’s tensions picked up further pace after the US blocks Chinese goods made with forced labor. As per the latest report, the Trump administration has banned importing certain apparel and computer parts from China, while saying forced Muslim laborers make them from the Xinjiang region.

On the contrary, the crude oil prices failed to maintain its early-day small gains and started to flash red during the European session around 37.18. However, the reason for the bearish bias around the crude oil prices could be attributed to the fears of the oversupply and lower demand. Moreover, Libya’s news is restoring its exports also added extra burden around the crude oil prices. Thus, the decline in oil prices undermined the demand for the commodity-linked currency, the loonie, and the key factor that cap further downside momentum for the currency pair. 


The USD/CAD pair is trading sharply bullish at 1.3237 level, having formed a series of bullish engulfing candles on the hourly timeframe. On the higher side, the pair may soar further until 1.3243 level. The MACD and RSI suggest a bullish bias, while the 50 periods EMA also suggests a bullish trend. Let’s follow a trading plan below.  

Entry Price – Buy 1.31816

Stop Loss – 1.31416

Take Profit – 1.32216

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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AUD/USD Slips below Double Top – Brace for Selling Trade! 

The AUD/USD pair was closed at 0.72907 after placing a high of 0.73338 and a low of 0.72823. Overall the movement of the AUD/USD pair remained bearish throughout the day. Despite the positive comments from Prime Minister Scott Morrison, the AUD/USD pair dropped on Friday amid the declining risk sentiment. 

The AUD/USD pair was closed at 0.72907 after placing a high of 0.73338 and a low of 0.72823. Overall the movement of the AUD/USD pair remained bearish throughout the day. Despite the positive comments from Prime Minister Scott Morrison, the AUD/USD pair dropped on Friday amid the declining risk sentiment. 

The AUD/USD pair was closed at 0.72907 after placing a high of 0.73338 and a low of 0.72823. Overall the movement of the AUD/USD pair remained bearish throughout the day. Despite the positive comments from Prime Minister Scott Morrison, the AUD/USD pair dropped on Friday amid the declining risk sentiment. 

After the National Cabinet, the Australian Prime Minister said that the Victoria state’s coronavirus declines were encouraging. He confirmed the current capacity of citizens allowed to return home per week that were put in place in mid-July would be lifted to ultimately 6000 as the virus situation has improved. 

Morrison said that states have agreed to boost quarantine capacity and the number of people allowed into Australia each week by mid-October. These positive comments related to the country’s virus situation failed to provide some strength to AUD/USD pair on Friday as the focus was on the US dollar.

The positive Prelim UoM Consumer Sentiment supported the US dollar for September that was advanced to 78.9 from the expectations of 75.0 and the previous 74.1. The improved consumer confidence in the US economy gave a push to the US dollar that ultimately weighed on AUD/USD pair on Friday.

Meanwhile, the risk perceived Aussie also suffered due to faded risk appetite in the market after the coronavirus cases continue to increase worldwide as the total confirmed cases surpassed the 30M figure as per Johns Hopkins University. The rising coronavirus figures supported the market’s safe-haven appetite and weighed on Aussie that dragged the AUD/USD pair’s prices on the downside.

Furthermore, the rising US-China tensions after the US government attempted to block the WeChat application’s downloading in the United States but failed to do so. These ongoing tensions between the world’s two largest economies gave a boost to safe-haven appeal and exerted pressure on the Australian dollar that dragged the AUD/USD pair on Friday.


The AUD/USD pair is trading with a selling bias at 0.7303 level, having formed a double top resistance at 0.7303 level. Seems like a good time to short the pair below 0.7303 level to capture quick 35/40 pips. Check out a trade plan below… 

Entry Price – Sell 0.7314

Stop Loss – 0.7354

Take Profit – 0.7274

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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USD/CHF Erased Its Previous Session Losses – An Update on Signal! 

During the Friday’s European trading hours, the USD/CHF currency pair stopped its early-day bearish rally and drew some fresh bids around above 0.9100 level despite the cautious mood around the equity markets. Besides this, the prevalent selling bias surrounding the U.S. dollar also failed to drag the currency pair down. Hence, the broad-based U.S. dollar came under pressure instantly after the Thursday’s rather unimpressive U.S. economic data. 

During the Friday’s European trading hours, the USD/CHF currency pair stopped its early-day bearish rally and drew some fresh bids around above 0.9100 level despite the cautious mood around the equity markets. Besides this, the prevalent selling bias surrounding the U.S. dollar also failed to drag the currency pair down. Hence, the broad-based U.S. dollar came under pressure instantly after the Thursday’s rather unimpressive U.S. economic data. 

During the Friday’s European trading hours, the USD/CHF currency pair stopped its early-day bearish rally and drew some fresh bids around above 0.9100 level despite the cautious mood around the equity markets. Besides this, the prevalent selling bias surrounding the U.S. dollar also failed to drag the currency pair down. Hence, the broad-based U.S. dollar came under pressure instantly after the Thursday’s rather unimpressive U.S. economic data. 

Apart from this, the U.S. dollar losses were further bolstered by the fresh fall in U.S. tech stocks on Thursday, which tends to drag the currency pair down. Across the pond, the risk barometer tracks Wall Street’s mild losses to print a three-day losing streak, which in turn, underpinned the safe-haven Swiss Franc and becomes the key factor that kept the lid on any further gains in the currency pair. 

Currently, the USD/CHF currency pair is currently trading at 0.9099 and consolidating in the range between 0.9075 – 0.9100. The faith over the coronavirus (COVID-19) vaccine/treatment was dominated by concerns about the second wave of coronavirus infections, which fading optimism over a sharp V-shaped global economic recovery. Besides this, the U.S. Federal Reserve’s (Fed) another stress test for large banks and a lack of major data/events also keeps the market trading sentiment under pressure. Whereas, the U.K. scientist group’s readiness for a state lockdown of almost two weeks and Global Times’ direct war signals to the U.S., over American diplomat’s visit to Taiwan, also exerted downside pressure on the equity market, which tend to underpin the safe-haven Swiss Franc.

Despite the risk-off market sentiment, the broad-based U.S. dollar failed to gain any positive traction and edged lower on the day as doubts persist over the global economic recovery from COVID-19. The disappointing U.S. employment data witnessed that. Apart from this, another rout in U.S. tech stocks also undermined the U.S. dollar. However, the losses in the U.S. dollar becomes the key factor that kept the lid on any further gains in the currency pair. Whereas, the U.S. Dollar Index, which tracks the greenback against a bucket of other currencies, dropped by 0.05% to 92.927 by 12:48 AM ET (5:48 AM GMT).

Looking forward, the market traders will keep their eyes on the USD moves amid the lack of major data/events on the day. However, the U.S. Michigan Consumer Sentiment Index for September, which is expected 75 versus 74.1 prior, will likely help resolve near-term USD moves. Furthermore, the risk catalyst like geopolitics and the virus woes, not to forget the Brexit, will also be key to watch for the fresh direction.


The USD/CHF is trading at 0.9104, holding right below a strong resistance level of 0.91130. Closing of candles over the support level of 0.9077 level can trigger buying trades in the USD/CHF pair. The series of EMAs is also supporting buying trends; therefore, we may look for bullish trades on the USD/CHF pair. Check out the forex trading signal below…

Entry Price – Buy 0.90932

Stop Loss – 0.90532

Take Profit – 0.91332

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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Bullish Channel Underpins the EUR/CHF – Update on Signal!

The EUR/CHF continues trading bullish at 1.0776 as stronger Euro is likely to drive EUR/CHF bullish. The demand for safe-haven assets is keeping the CHF supported; however, the technical side of the market is still dragging the EUR/CHF higher. The optimism over the coronavirus (COVID-19) vaccine/treatment was overshadowed by the concerns about the second wave of coronavirus infections, which fading optimism over a sharp V-shaped global economic recovery. 

The EUR/CHF continues trading bullish at 1.0776 as stronger Euro is likely to drive EUR/CHF bullish. The demand for safe-haven assets is keeping the CHF supported; however, the technical side of the market is still dragging the EUR/CHF higher. The optimism over the coronavirus (COVID-19) vaccine/treatment was overshadowed by the concerns about the second wave of coronavirus infections, which fading optimism over a sharp V-shaped global economic recovery. 

The EUR/CHF continues trading bullish at 1.0776 as stronger Euro is likely to drive EUR/CHF bullish. The demand for safe-haven assets is keeping the CHF supported; however, the technical side of the market is still dragging the EUR/CHF higher. The optimism over the coronavirus (COVID-19) vaccine/treatment was overshadowed by the concerns about the second wave of coronavirus infections, which fading optimism over a sharp V-shaped global economic recovery. 

Whereas, the U.K. scientist group’s readiness for a state lockdown of almost two weeks and Global Times’ direct war signals to the U.S., over American diplomat’s visit to Taiwan, also exerted downside pressure on the equity market, which tend to underpin the safe-haven Swiss Franc.

Despite the risk-off market sentiment, the broad-based U.S. dollar failed to achieve any positive traction and trimmed lower on the day as doubts persist over the global economic recovery from COVID-19. The disappointing U.S. employment data witnessed that. Apart from this, another rout in U.S. tech stocks also undermined the U.S. dollar. However, the losses in the U.S. dollar becomes the key factor that kept the pressure on any additional gains in the pair. While, the U.S. Dollar Index, which tracks the greenback against a bucket of other currencies, dropped by 0.05% to 92.927 by 12:48 AM ET (5:48 AM GMT).


Technically, the EUR/CHF is supported over 1.0763 level, and closing of candles above this support level may drive further buying until 1.0785. The MACD and 50 EMA are also supporting an upward trend in the market. Recent bullish engulfing is also supporting the bullish trend in the market. Checkout a trading plan below…

Entry Price – Buy 1.07692

Stop Loss – 1.07292

Take Profit – 1.08092

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 Failed to Gains Positive Traction – Quick 40 Pips Profit! 

Today in the early European trading session, the EUR/JPY currency pair failed to stop its previous session losing streak and further offers around below the 124.00 regions in the last hours. However, the bearish bias around the currency pair was bolstered by the reports suggesting the confirmation of deflation seeping back into the Eurozone, which undermined the shared currency and contributed to the currency pair declines. Meanwhile, the continued rise in coronavirus cases also exerted downside pressure on the shared currency, which dragged the currency par below 124.00. 

Today in the early European trading session, the EUR/JPY currency pair failed to stop its previous session losing streak and further offers around below the 124.00 regions in the last hours. However, the bearish bias around the currency pair was bolstered by the reports suggesting the confirmation of deflation seeping back into the Eurozone, which undermined the shared currency and contributed to the currency pair declines. Meanwhile, the continued rise in coronavirus cases also exerted downside pressure on the shared currency, which dragged the currency par below 124.00. 

Today in the early European trading session, the EUR/JPY currency pair failed to stop its previous session losing streak and further offers around below the 124.00 regions in the last hours. However, the bearish bias around the currency pair was bolstered by the reports suggesting the confirmation of deflation seeping back into the Eurozone, which undermined the shared currency and contributed to the currency pair declines. Meanwhile, the continued rise in coronavirus cases also exerted downside pressure on the shared currency, which dragged the currency par below 124.00. 

The reason for the currency pair selling bias could also be attributed to the market risk-off mood, which eventually underpinned the Japanese yen’s safe-haven demand. Hence, the risk-off market sentiment was mainly sponsored by the Fed’s hint for another stress test for large banks as well as the U.K. scientist group’s readiness for another national lockdown also weighed on the market risk tone. At this particular time, the EUR/JPY currency pair is currently trading at 123.86 and consolidating in the range between 123.81 – 124.31.

At the coronavirus front, the number of confirmed coronavirus cases increased to 263,773, with a total of 9,378 deaths reported on the day. Meanwhile, the number of new infections rose by 1,916 on Friday, while the death toll rose by 7, as per the latest data from the German disease and epidemic control center, Robert Koch Institute (RKI). This, in turn, undermined the sentiment around the single currency and contributed to the currency par declines.

Moreover, the sentiment around the shard currency was further bolstered by the reports suggesting confirmation of deflation seeping back into the Eurozone. Detail suggested the Eurozone annualized CPI confirmed the -0.2% previous estimate.

Across the pond, the market trading sentiment has been flashing mixed signals since the day started. Be it the American lawmakers’ failure to offer any positive announcement on the coronavirus (COVID-19) relief package or the recent escalation in the Sino-American tussle, not to forget the downbeat U.S. data, these all factors have been weighing on the market risk tone. This, in turn, underpinned the safe-haven Japanese yen.

The employment data released on Thursday showed that initial jobless claims dropped slower than expected at the data front. Eight hundred sixty thousand claims were filed over the past week against the predicted 850,000.

Additionally, weighing the market trading sentiment could be the fears of rising COVID-19 cases in the U.S., Europe, and some of the notable Asian nations like India, fueling fears that the economic recovery could be halted. 

Looking forward, the market traders will keep their eyes on the USD moves amid the lack of major data/events on the day. However, the U.S. Michigan Consumer Sentiment Index for September, which is expected 75 versus 74.1 prior, will likely help resolve near-term USD moves. Furthermore, the risk catalyst like geopolitics and the virus woes, not to forget the Brexit, will also be key to watch for the fresh direction.


We decided to open a sell position in the EUR/JPY pair during the European session as it formed a bearish engulfing pattern below 124.250 level. The candle closing drove more selling in the EUR/JPY pair, and now it’s likely to trigger more selling until the 123.375 level. The MACD and 50 EMA were also supporting selling bias; therefore, we decided to capture a quick sell position to target 123.742 take profit level. Let’s keep an eye on 123.3750 now as the closing of candles above this level may drive some buying during the U.S. session. Good luck! 

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Forex Signals

USD/JPY Downward Channel In-Play – Quick Update on Signal! 

The USD/JPY stopped its previous-day bearish bias and picked up some bids around the 104.80 level, mainly after the downbeat prints of Japan’s National Consumer Price Index (CPI) for August eventually undermined the Japanese yen currency and extended support to the currency pair. 

The USD/JPY stopped its previous-day bearish bias and picked up some bids around the 104.80 level, mainly after the downbeat prints of Japan’s National Consumer Price Index (CPI) for August eventually undermined the Japanese yen currency and extended support to the currency pair. 

The USD/JPY stopped its previous-day bearish bias and picked up some bids around the 104.80 level, mainly after the downbeat prints of Japan’s National Consumer Price Index (CPI) for August eventually undermined the Japanese yen currency and extended support to the currency pair. 

The currency pair dropped to the lowest since July 31, the previous day after the Bank of Japan (BOJ) upwardly revised the economic outlook. Thus, the currency pair failed to break its previous day thin trading range and still hovering below the 105.00 marks. Apart from this, the reason for the pair’s bearish bias could also be associated with the risk-off market sentiment, driven by the US-China tussle and Brexit concern, which tend to underpin the Japanese yen currency. 

Meanwhile, the broad-based U.S. dollar weakness, triggered by the disappointing U.S. employment data, could also be considered the key factor that kept the lid on any additional gains in the currency pair. Currently, the USD/JPY currency pair is currently trading at 104.81 and consolidating in the range between 104.67 – 104.88.

At the data front, Japan’s August month’s National CPI dropped below 0.6% forecast and 0.3% previous readouts to 0.2% YoY, it no news as the Asian major has historically been struggling with stagflation. 

Besides this, the risk sentiment favoring the pair’s sellers as S&P 500 Futures dropped by 0.10% intraday as Fed’s hint for another stress test for large banks and the U.K. scientist group’s push for another state lockdown. Furthermore, the worrisome headlines concerning the Brexit or the tension between the US-China, not to forget the rising coronavirus cases, weigh on the market trading sentiment.  

At the US-China front, the tensions between the United States and China picked up the further pace after the American Undersecretary for Economic Affairs Keith Krach’s scheduled visit to Taiwan. Moreover, the friction was further bolstered by China’s state media’s comments that directed warned the U.S. with the “use non-peaceful and other necessary means to solve the Taiwan question once and for all.  

Additionally, weighing the market trading sentiment could be the fears of rising COVID-19 cases in the U.S., Europe, and some of the notable Asian nations like India, which fueling fears that the economic recovery could be halt.

At the USD front, the broad-based U.S. dollar failed to stop its early-day losses and took the further offer on the day as doubts persist over the global economic recovery from disappointing U.S. employment data witnessed statement data. Apart from this, another rout in U.S. tech stocks also undermined the U.S. dollar. However, the U.S. dollar losses could be considered the key factor that kept the pressure on any additional gains in the USD/JPY pair. Whereas, the U.S. Dollar Index, which tracks the greenback against a bucket of other currencies, dropped by 0.05% to 92.927 by 12:48 AM ET (5:48 AM GMT).

The employment data released on Thursday showed that initial jobless claims dropped slower than expected at the data front 860,000 claims were filed over the past week against the predicted 850,000.


Looking forward, the market traders will keep their eyes on the USD moves amid the lack of major data/events on the day. However, the U.S. Michigan Consumer Sentiment Index for September, which is expected 75 versus 74.1 prior, will likely help resolve near-term USD moves. Furthermore, the risk catalyst like geopolitics and the virus woes, not to forget the Brexit, will also be key to watch for the fresh direction.

Entry Price – Sell 104.651

Stop Loss – 105.051

Take Profit – 104.251

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

Gold – Breakdown Suggests Further Declines

Description

Description

Description

Gold prices in its 2-hour timeframe remain moving in a consolidation structure identified as a triangle pattern. At the same time, the price action reveals a breakdown in its internal sequence, suggesting the likelihood of additional drops.

According to the Elliott wave theory, the price advances in a triangle pattern, which consolidates the first downward movement that began when the precious metal topped at $2,075.14 per ounce on August 07th. With the short-term ascending trendline between waves d and e of Subminuette degree identified in green, the yellow metal unveiled the completion of wave e. It opened the possibility of a new bearish leg of the upper degree.

On the other hand, the RSI oscillator shows a breakdown that pierced below level 40 and consolidated in 41.4, confirming the intraday breakdown developed by the precious metal and increasing the downward move’s likelihood.

In a conservative scenario, the Gold prices could decline toward the $1,925.93 per ounce, which corresponds to the last swing of September 09th. The invalidation level of our bearish scenario will occur if the price soars over $1,952.93 per ounce.

Chart

Trading Plan Summary

  • Entry Level: $1,943.93 per ounce
  • Protective Stop: $1,952.93 per ounce
  • Profit Target: $1,925.17 per ounce
  • Risk/Reward Ratio: 2.08
  • Position Size: 0.01 lot per $1,000 in trading account.

 

Check out the latest trading signals on the Forex Academy App for your mobile phone from the Android and iOS App Store.

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Forex Signals

Gold Choppy Session Continues – Quick Buy Limit!  

The yellow metal prices failed to maintain its previous-day gaining streak and edged lower to 1,940 level due to the broad-based U.S. dollar strength, backed by the better-than-expected U.S. unemployment figures. Apart from this, the central bank said that it expects the U.S. economic recovery from the coronavirus crisis to gather pace, boosting the U.S. dollar sentiment.

The yellow metal prices failed to maintain its previous-day gaining streak and edged lower to 1,940 level due to the broad-based U.S. dollar strength, backed by the better-than-expected U.S. unemployment figures. Apart from this, the central bank said that it expects the U.S. economic recovery from the coronavirus crisis to gather pace, boosting the U.S. dollar sentiment.

The yellow metal prices failed to maintain its previous-day gaining streak and edged lower to 1,940 level due to the broad-based U.S. dollar strength, backed by the better-than-expected U.S. unemployment figures. Apart from this, the central bank said that it expects the U.S. economic recovery from the coronavirus crisis to gather pace, boosting the U.S. dollar sentiment.

However, the U.S. dollar upticks pushed the bullion prices down in Asian morning trade, although the U.S. Federal Reserve also stated yesterday that it was keeping interest rates close to zero until inflation increases to over 2%. On the contrary, the previous market optimism over the coronavirus (COVID-19) vaccine/treatment was recently overshadowed by the latest mixed signals regarding the coronavirus (COVID-19) vaccine and U.S. aid package. This, in turn, the market trading sentiment turned sour, which might help the gold prices to limit its deeper losses. 

It is worth recalling that the Federal Open Market Committee (FOMC) upwardly revised short-term economic forecasts. Meanwhile, he also repeated their promise to do everything necessary. The U.S. central bank also holds the Average Inflation Targeting (AIT) program while displaying a readiness to keep the easy monetary policy even if the inflation shoots above the 2.0% target. 

At the USD front, the broad-based U.S. dollar extended its early bullish trend on the day amid mixed sentiment in the market. Moreover, the foresees unemployment falling faster than the central bank expected in June, also helped the greenback to put the fresh bids. Let me remind, the Us dollar saw losses in the wake of the Fed’s comments and disappointing U.S. retail sales data but gradually erased the losses after the Fed hinted economic growth to improve from the COVID-19. However, the modest surge in the greenback kept the gold prices under pressure as gold price is inversely related to the U.S. dollar price. Whereas, the U.S. Dollar Index Futures that tracks the greenback against a bucket of other currencies was up 0.45% to 93.543 by 12:24 AM ET (5:24 AM GMT).

However, the equity market has started to flash red since the Asian session started. Hence, the reason for the risk-off market sentiment could be the deadlock over the U.S. Congress proceeding over the much-awaited aid package. Although the U.S. President Donald Trump recently indicated the solution to arrive soon, House Speaker Nancy Pelosi’s rejection of holding the votes on a package around $1.5 trillion shows that the Democrats are in no mood to relinquish controls. This, in turn, undermined the market trading sentiment and helped the gold prices to limit its deeper losses.

The market trading sentiment was further bolstered by the fresh U.S. President Donald Trump’s warnings to the World Trade Organization for its favor to China. This, in turn, might recall the trade war concerns that have been silent off-late. Across the pond, the COVID-19 outbreak continues to rise, which keep dampening the global economic outlook.

On the contrary, the market trading sentiment was rather unaffected by the renewed optimism over the coronavirus (COVID-19) vaccine/treatment. Nevertheless, U.S. President Donald Trump said that late-October would distribute the COVID-19 vaccine, and policymakers in the U.K., China, and Russia also join the upbeat tone about finding the cure of the pandemic. This could help the market trading sentiment to limit its losses.


Looking ahead, the market players will keep their eyes on the busy economic calendar for near-term moves—the U.S. Initial Jobless Claims and the U.S. housing data will be key to watch. Meanwhile, the updates surrounding the fresh Sino-US tussle and the coronavirus (COVID-19) updates could not lose their importance.

Gold prices slipped dramatically from 1,959 level to the 1,940 mark operating above the 1,936 support range. The triple bottom pattern on the hourly chart is expected to support gold prices now at 1,936. Beyond this, bullish sentiment can pull gold price higher until the 1,949 level, and over this, the 1,958 level may serve as resistance. Breakout of 1,936 mark can prolong selling bias unto 1,924 area today. Good luck! 

Categories
Forex Signals

GBP/USD Failed to Extend 3-Day Winning Streak – Quick 30 Pips!

During Thursday’s European trading session, the GBP/USD currency pair failed to extend its previous 3-day winning streak and hit the intra-day low near below the mid-1.2900 level. Hence, the selling bias around the currency pair was triggered by the doubts over the Brexit-positive headlines ahead of the key Bank of England (BOE) monetary policy meeting. Additionally weighing the quote could be the rising number of coronavirus (COVID-19) in the U.K., which eventually undermined the British Pound and adds extra burden around the currency pair.

During Thursday’s European trading session, the GBP/USD currency pair failed to extend its previous 3-day winning streak and hit the intra-day low near below the mid-1.2900 level. Hence, the selling bias around the currency pair was triggered by the doubts over the Brexit-positive headlines ahead of the key Bank of England (BOE) monetary policy meeting. Additionally weighing the quote could be the rising number of coronavirus (COVID-19) in the U.K., which eventually undermined the British Pound and adds extra burden around the currency pair.

During Thursday’s European trading session, the GBP/USD currency pair failed to extend its previous 3-day winning streak and hit the intra-day low near below the mid-1.2900 level. Hence, the selling bias around the currency pair was triggered by the doubts over the Brexit-positive headlines ahead of the key Bank of England (BOE) monetary policy meeting. Additionally weighing the quote could be the rising number of coronavirus (COVID-19) in the U.K., which eventually undermined the British Pound and adds extra burden around the currency pair.

Apart from this, the broad-based U.S. dollar on-going strength, backed by the Federal Reserve’s (Fed) cautious optimism, also adds extra burden around the currency pair.

At the coronavirus front, the currency pair bearish moves were further bolstered by the rising virus cases in the U.K. As per the latest report, and the United Kingdom reported nearly 4,000 new daily cases of COVID-19, government figures reported on Wednesday, with the total figures of daily cases at its highest mark since May 8. Meanwhile, the PM Johnson’s concern about the testing capacity and a lack of a virus vaccine also undermined the currency pair.

Across the pond, the intensifying tensions between the U.S. and China also added a burden around the market trading sentiment. It is worth recalling that President US Trump recently warned the World Trade Organization for their favoring tone to China against the Trump administration’s decision to levy multiple trade sanctions on China. However, these gloomy headlines exerted downside pressure on the market trading sentiment.

As a result, the broad-based U.S. dollar continued its bullish rally and still reported gains on the day due to the market’s risk-off sentiment. Moreover, the upbeat prediction for the U.S. unemployment data also helped the greenback put the fresh bids. Let me remind, the U.S. dollar initially saw losses in the wake of the Fed’s comments and disappointing U.S. retail sales data but gradually erased the losses after the Fed hinted economic growth to improve from the COVID-19. However, the gains in the U.S. dollar kept the currency pair under pressure. Whereas, the U.S. Dollar Index Futures that tracks the greenback against a bucket of other currencies was up 0.45% to 93.543 by 12:24 AM ET (5:24 AM GMT).

Looking forward, the market traders will keep their eyes on the USD moves amid the lack of major data/events on the day. The risk catalyst like geopolitics and the virus woes will be key to watch for the fresh direction, not to forget the Brexit.


The GBP/USD is trading at 1.2909 level, holding within an upward channel supporting the pair at 1.2909 level. The closing of the recent Doji candle over the EMA and upward trendline support level of 1.2909 level suggests odds of upward movement in the market. Considering this, we may have some upward trend in the Sterling ahead of the BOE rate decision. Thus, we should look for a buying trade with a target of 1.2996 level. Violation of 1.2909 le el can trigger selling bias until 1.2828 level, but it depends upon the policy decision today.

Entry Price – Buy 1.29247
Stop Loss – 1.28847
Take Profit – 1.29647
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/JPY Extended Previous Session Losing Streak – Update on Singal! 

During Wednesday’s early European trading session, the USD/JPY currency pair failed to stop its Asian session bearish moves and dropped further near 105.30 level mainly due to the broad-based U.S. dollar weakness, triggered by the cautious mood of traders ahead of the Federal Open Market Committee (FOMC) meeting. Moreover, backed by the recently positive coronavirus (COVID-19) vaccine news, the upbeat market sentiment also weighed on the safe-haven U.S. dollar. 

During Wednesday’s early European trading session, the USD/JPY currency pair failed to stop its Asian session bearish moves and dropped further near 105.30 level mainly due to the broad-based U.S. dollar weakness, triggered by the cautious mood of traders ahead of the Federal Open Market Committee (FOMC) meeting. Moreover, backed by the recently positive coronavirus (COVID-19) vaccine news, the upbeat market sentiment also weighed on the safe-haven U.S. dollar. 

During Wednesday’s early European trading session, the USD/JPY currency pair failed to stop its Asian session bearish moves and dropped further near 105.30 level mainly due to the broad-based U.S. dollar weakness, triggered by the cautious mood of traders ahead of the Federal Open Market Committee (FOMC) meeting. Moreover, backed by the recently positive coronavirus (COVID-19) vaccine news, the upbeat market sentiment also weighed on the safe-haven U.S. dollar. 

Across the ocean, the currency pair’s losses were further bolstered after the upbeat Japanese Industrial Production details, which eventually underpinned the Japanese yen and contr3bited to the currency pair losses. Apart from this, the latest positive headline that the world’s 3rd-largest economy is gradually overcoming the coronavirus (COVID-19) pandemic also boosted the yen currency and dragged the currency pair down. On the contrary, the latest optimism over a potential vaccine for the highly contagious coronavirus disease keeps supporting the market trading sentiment, which undermined the safe-haven Japanese yen and became the key factor that cap further downside for the currency pair.  

Many factors tend to undermine the U.S. dollar. Be it the ongoing impasse over the next round of the U.S. fiscal stimulus or the upbeat market sentiment, not to forget traders’ cautious mood ahead of the Federal Open Market Committee (FOMC) meeting. However, the market trading sentiment was remained supported by optimism over a potential vaccine for the highly contagious coronavirus disease.

Meanwhile, the U.S. and China’s positive data, which suggests gradual recoveries in global economics, also boosted the market trading tone. Detail Suggested, China’s Industrial Production and Retail Sales surpassed forecasts for August, the U.S. NY Empire State Manufacturing Index also recovered to 17.00 and pleased the optimists. 

As in result, the broad-based U.S. dollar failed to keep its overnight gains and edged lower on the day mainly due to the risk-on market sentiment. Moreover, the U.S. dollar losses could also be associated with cautious sentiment ahead of the U.S. Federal Reserve’s policy meeting, which is scheduled to take place on the day. However, the losses in the U.S. dollar kept the USD/JPY currency pair under pressure.. Whereas, the U.S. Dollar Index Futures that tracks the greenback against a bucket of other currencies dropped by 0.03% to 93.085 by 9:76 PM ET (2:57 AM GMT), giving up some earlier gains.

The upbeat Industrial Production details remained supportive of the Japanese yen at home, which kept the currency pair down. At the data front, Japan’s August month Merchandise Trade Balance Total rose to ¥248.3 B versus ¥-37.5 B market consensus and ¥10.9 B (revised). Further details suggest the Imports dropped below -18% YoY forecast to -20.8, whereas Exports recovered from -16.1% to -14.8% in the reported month.

Besides, the positive news suggesting that the world’s 3rd-largest economy is gradually overcoming the coronavirus (COVID-19) pandemic also underpinned the Japanese yen. Across the pond, the upbeat market tone, supported by multiple factors, tends to undermine the safe-haven Japanese yen and becomes the key factor that helps the currency pair limit its deeper losses. 

Looking ahead, the Bank of Japan is also scheduled to announce its policy decision on Thursday, which will key to watch for the fresh direction in the pair. Meanwhile, the market traders will keep their eyes on Japan’s trade numbers and Aussie housing data. Whereas, investors are also looking to the U.S. Federal Reserve’s policy meeting, scheduled to take place on the day. Meanwhile, New Zealand’s Current Account and the Pre-Election Economic and Fiscal Update (PREFU) will also key to watch. All in all, the updates surrounding the Brexit, virus, and US-China tussle will not lose their importance. 


The USD/JPY currency pair has dropped sharply amid increased safe-haven appeal and weakness in the U.S. dollar. The pair fell from 105.800 to 104.860 level, and now it’s facing resistance at 105.285 level. On the lower side, the USD/JPY pair may drop until 104.800 and 104.318. Good luck! 

Entry Price – Sell 104.98

Stop Loss – 105.38

Take Profit – 104.58

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 Trades Choppy Ahead of FOMC – Ascending Triangle in Play! 

During Wednesday’s Asian trading session, the yellow metal prices extended its overnight buying bias and gathered some pace around the two-week tops above 1,960. The massive offered tone surrounding the greenback was seen as one of the major factors that helped the dollar-denominated commodity gold. However, the weaker tone around the U.S. dollar was mainly driven by the ongoing risk-on mood, which eventually undermined the safe-haven U.S. dollar. Besides, the U.S. dollar bearish bias could also be associated with traders’ cautious mood ahead of the Federal Open Market Committee (FOMC) meeting. Apart from this, the market trading sentiment was being supported by the news suggesting the AstraZeneca’s restart of the coronavirus (COVID-19) vaccine trials.

During Wednesday’s Asian trading session, the yellow metal prices extended its overnight buying bias and gathered some pace around the two-week tops above 1,960. The massive offered tone surrounding the greenback was seen as one of the major factors that helped the dollar-denominated commodity gold. However, the weaker tone around the U.S. dollar was mainly driven by the ongoing risk-on mood, which eventually undermined the safe-haven U.S. dollar. Besides, the U.S. dollar bearish bias could also be associated with traders’ cautious mood ahead of the Federal Open Market Committee (FOMC) meeting. Apart from this, the market trading sentiment was being supported by the news suggesting the AstraZeneca’s restart of the coronavirus (COVID-19) vaccine trials.

During Wednesday’s Asian trading session, the yellow metal prices extended its overnight buying bias and gathered some pace around the two-week tops above 1,960. The massive offered tone surrounding the greenback was seen as one of the major factors that helped the dollar-denominated commodity gold. However, the weaker tone around the U.S. dollar was mainly driven by the ongoing risk-on mood, which eventually undermined the safe-haven U.S. dollar. Besides, the U.S. dollar bearish bias could also be associated with traders’ cautious mood ahead of the Federal Open Market Committee (FOMC) meeting. Apart from this, the market trading sentiment was being supported by the news suggesting the AstraZeneca’s restart of the coronavirus (COVID-19) vaccine trials.

Meanwhile, the risk-on sentiment was further bolstered by the University Of Pittsburgh School Of Medicine’s positive news, where experts produced the strongest antibody component for the coronavirus tested over animals. These positive headlines became the key factor that kept the lid on any further yellow metal gains. On the contrary, the Sino-US trade area and coronavirus woes flashed mixed signals, which keep challenging the market risk-on sentiment. Gold prices are currently trading at 1,966 and consolidating in the range between 1,949.99 – 1,962.97. Moving on, the market traders seem reluctant to place any strong position ahead of the U.S. Federal Reserve’s policy meeting, which is due to happen on the day. 

Despite the COVID-19’s ongoing global spread and the Sino-American tussle, not to forget the fears of no-deal Brexit, the market trading sentiment extended its early-day positive tone and remained supportive by the positive data from the U.S. and China, which suggesting gradual recoveries in the global economics from China and the U.S. At the data front, China’s Industrial Production and Retail Sales surpassed forecasts for August, the U.S. NY Empire State Manufacturing Index also recovered to 17.00 and pleased the optimists. 

Apart from this, the reasons for the risk-on market trading sentiment could also be attributed to the positive headlines concerning the coronavirus vaccine. The AstraZeneca showed readiness for resuming its vaccine trials after a brief “routine” pause, while the Pfizer is confident about getting the cure of the pandemic by the year’s end. Furthermore, the latest news came from the University Of Pittsburgh School Of Medicine, wherein the scientists produced the strongest antibody component for the pandemic. This, in turn, underpinned the market trading sentiment and kept the lid on any further gains in the gold prices.

Across the pond, the tussle between the US-China flashed mixed signals as the Trump administration quietly eased warning towards China and Hong Kong. Whereas, the Dragon Nation extended tariff relief for U.S. imports. This, in turn, the U.S. rolled back the decision to ban some of the productions from Xinjiang. Despite this, the relationship between US-China turned sour after the World Trade Organization (WTO) ruled against the Trump administration’s decision to levy multiple trade sanctions on China. These mixed headlines might exert downside pressure on the market trading sentiment, which could help further the safe-haven assets.

The broad-based U.S. dollar failed to keep its overnight gains and edged lower on the day, mainly due to the risk-on market sentiment. Moreover, the U.S. dollar losses could also be associated with cautious sentiment ahead of the U.S. Federal Reserve’s policy meeting, which is scheduled to take place on the day. It is worth mentioning that the Fed will speak later to hand down its policy decision; as we know, this will be its first meeting since Fed Chairman Jerome Powell announced a more relaxed approach to inflation at the Jackson Hole symposium August 27. However, this stance is broadly expected to be continued and could undermine the U.S. dollar by introducing further stimulus measures. At the coronavirus front, the ongoing rise in COVID-19 cases globally continues to fuel worries concerning the global economic outlook for the foreseeable future.


Looking ahead, the market traders will keep their eyes on Japan’s trade numbers and Aussie housing data. Whereas, investors are also looking to the U.S. Federal Reserve’s policy meeting, scheduled to take place on the day. Meanwhile, New Zealand’s Current Account and the Pre-Election Economic and Fiscal Update (PREFU) will also key to watch. All in all, the updates surrounding the Brexit, virus, and US-China tussle will not lose their importance. 

The yellow metal gold traded sharply bullish amid weaker U.S. dollar to trade at 1,961 level. On the higher side, the gold prices may continue to trade bullish until 1,970 and 1,985 and 1,994 resistance levels. On the lower side, the gold may gain support at 1,963 and 1,955 levels. Overall, the trading bias seems bullish. Good luck! 

Categories
Forex Signals

AUD/USD Managed To Keeps Winning Streak – Buy Signal In Play! 

Today in the early European trading session, the AUD/USD currency pair extended its previous session bullish bias and took further bids around a weekly high 0.7329 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 Sino-American trade optimism also helped the market risk tone, which underpinned the Australian dollar’s perceived risk currency and contributed to the currency pair gains.  

Today in the early European trading session, the AUD/USD currency pair extended its previous session bullish bias and took further bids around a weekly high 0.7329 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 Sino-American trade optimism also helped the market risk tone, which underpinned the Australian dollar’s perceived risk currency and contributed to the currency pair gains.  

Today in the early European trading session, the AUD/USD currency pair extended its previous session bullish bias and took further bids around a weekly high 0.7329 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 Sino-American trade optimism also helped the market risk tone, which underpinned 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 cautious mood of traders ahead of the Federal Open Market Committee (FOMC) meeting, also supported the currency pair. The AUD/USD currency pair is currently trading at 0.7329 and consolidating in the range between 0.7288 – 0.7330.

The market trading sentiment recently got the lift after the positive news from the University Of Pittsburgh School Of Medicine, suggesting that the experts produced the strongest antibody component for the coronavirus, tested over animals. Meanwhile, the Trump administration stepped back from its plans for importing cotton and tomato products from China’s Xinjiang region. This, in turn, boosted further the market trading tone. 

Furthermore, the U.S. and China’s positive data, which suggests gradual recoveries in global economics, also boosted the market trading tone. Detail Suggested, China’s Industrial Production and Retail Sales surpassed forecasts for August, the U.S. NY Empire State Manufacturing Index also recovered to 17.00 and pleased the optimists. This, in turn, underpinned the perceived risk currency Australian dollar and contributed to the currency pair gains.  

On the contrary, the uncertainties over the much-awaited fiscal package remain on the play as both sides do not show any clues on it. Meanwhile, the rising COVID-19 cases globally continue to fuel worries concerning the global economic outlook. This gloomy factor could be considered as the key factor that cap further gains in the currency pair.

Looking ahead, the market traders will keep their eyes on Japan’s trade numbers and Aussie housing data. Whereas, investors are also looking to the U.S. Federal Reserve’s policy meeting, scheduled to take place on the day. Meanwhile, New Zealand’s Current Account and the Pre-Election Economic and Fiscal Update (PREFU) will also key to watch. All in all, the updates surrounding the Brexit, virus, and US-China tussle will not lose their importance. 


The AUD/USD pair continues to encounter resistance at the 0.7344 mark, and an upward crossover of 0.7344 mark can drive bullish bias unto 0.7412 and 0.7450 level today. On the downside, the support continues to linger at 0.7245 and 0.7149 level. Bullish bias appears powerful today; nevertheless, the focus will remain on the U.S. FOMC and Fed Fund Rate today. 

Entry Price – Buy 0.73241

Stop Loss – 0.72841

Take Profit – 0.73641

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/JPY Selling Bias Dominates – Quick Update on Signal! 

The USD/JPY closed at 105.730 after placing a high of 106.164 and a low of 105.547. The USD/JPY pair finally found some specific direction to follow and moved in the downward trend amid the broad-based U.S. dollar weakness. However, the improved risk sentiment around the market capped further downward movement in the currency pair.

The USD/JPY closed at 105.730 after placing a high of 106.164 and a low of 105.547. The USD/JPY pair finally found some specific direction to follow and moved in the downward trend amid the broad-based U.S. dollar weakness. However, the improved risk sentiment around the market capped further downward movement in the currency pair.

The USD/JPY closed at 105.730 after placing a high of 106.164 and a low of 105.547. The USD/JPY pair finally found some specific direction to follow and moved in the downward trend amid the broad-based U.S. dollar weakness. However, the improved risk sentiment around the market capped further downward movement in the currency pair.

The greenback came under selling pressure ahead of the U.S. Federal Reserve’s Open Market Committee’s meeting. The meeting is due to start on Tuesday and will conclude with the comments from Chairman Jerome Powell’s speech. The speech is expected to provide further decisions of the Federal Reserve related to average inflation targeting. The market participants are hoping that the Fed will remain dovish about its monetary policy on Wednesday.

The central bank seems to be satisfied with the interest rates being near-zero levels, and there will be no change in interest rates. However, the comments from Fed Chair related to further stimulus measures and monetary easing along with the inflation target will provide fresh clues about U.S. economic conditions. The U.S. dollar came under pressure as the House of Representatives have returned from summer break and the chances for the fifth round of stimulus measures to reach consensus have increased as talks would resume soon.

The weak U.S. dollar weighed heavily on the USD/JPY pair, and the pair dropped to 9 days the lowest level on Monday. Furthermore, the improved risk sentiment and the equity market also weighed heavily on the safe-haven Japanese Yen that provided some strength to the currency pair USD/JPY.

The U.S. equity rose on Monday after the Oxford University and AstraZeneca vaccine re-started its phase-3 trials and raised the hopes for economic recovery. The trials were paused due to some unexplained illness that was found in one of the participants last week. However, the trials were resumed and provided some strength to the USD/JPY pair.

Meanwhile, the statement by the World Health organization that in a single day, the record-high number of coronavirus cases were reported that raised fears for the resurgence of the coronavirus pandemic WHO reported that in the time of 24 hours, a record high of more than 307,000 cases was recorded globally which was the largest daily number since the pandemic started. This raised uncertainty in the market and supported the safe-haven Japanese yen that added further downward pressure on the USD/JPY pair.

On the data front, there was no release from the U.S. side, however, at 09:30 GMT, the Tertiary Industry Activity from Japan dropped to -0.5% in July from the forecasted 0.6% and weighed on the Japanese Yen. Whereas, at 09:33 GMT, the Revised Industrial Production from Japan in July rose to 8.7% from the forecasted 8.0% and supported the Japanese Yen that added further pressure on the USD/JPY pair on Tuesday.


The USD/JPY currency pair has dropped sharply amid increased safe-haven appeal and weakness in the U.S. dollar. The pair fell from 106 to 105.650 level, and now it’s facing resistance at 105.795 level. On the lower side, the USD/JPY pair may drop until 105.265.

Entry Price – Sell 105.574

Stop Loss – 105.974

Take Profit – 105.174

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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EUR/USD on a Bullish Run Amid Stronger ZEW Economic Sentiment

The EUR/USD managed to gains positive traction and edged higher around the 1.1900 level mainly due to the broad-based US dollar. Thus, the broad-based US dollar weakness could be associated with the market risk-on mood, which was supported by the renewed optimism over a possible vaccine for the highly infectious coronavirus disease. Apart from this, the doubts over the US fiscal stimulus measures and upbeat China data also weighed on the broad-based US dollar, which keeps the EUR/USD currency pair higher closer to 1.1900 marks. 

The EUR/USD managed to gains positive traction and edged higher around the 1.1900 level mainly due to the broad-based US dollar. Thus, the broad-based US dollar weakness could be associated with the market risk-on mood, which was supported by the renewed optimism over a possible vaccine for the highly infectious coronavirus disease. Apart from this, the doubts over the US fiscal stimulus measures and upbeat China data also weighed on the broad-based US dollar, which keeps the EUR/USD currency pair higher closer to 1.1900 marks. 

The EUR/USD managed to gains positive traction and edged higher around the 1.1900 level mainly due to the broad-based US dollar. Thus, the broad-based US dollar weakness could be associated with the market risk-on mood, which was supported by the renewed optimism over a possible vaccine for the highly infectious coronavirus disease. Apart from this, the doubts over the US fiscal stimulus measures and upbeat China data also weighed on the broad-based US dollar, which keeps the EUR/USD currency pair higher closer to 1.1900 marks. 

Across the pond, the firm note from the ECB at last week’s meeting boosted the positive tone around the shared currency, which also pushed the current par higher near the 1.1900 neighborhood, or new 3-day highs. Meanwhile, the positive stance in the speculative community also underpinned the constructive outlook in the shared currency and contributed to the currency pair gains. On the contrary, the rise in coronavirus infections across Europe becomes the key factor that kept the pressure on further gains in the pair. At the moment, the EUR/USD is trading at 1.1886 and consolidating in the range between the 1.1860 – 1.1900. Moving on, the currency pair traders seem cautious to place any strong position ahead of the German Zew survey and Eurozone Labor Cost data.

The shared currency Euro could face some selling pressures if Labor Costs’ growth slows more than expected, reviving disinflation fear. However, the Eurozone’s inflation turned negative in August, the official data on Sept. 1 showed. It worth recalling that the market focus would be on the Eurozone and German Zew Survey numbers, Eurozone Labor Cost (Q2), which is scheduled to release at 09:00 GMT. 

Across the ocean, the market trading sentiment remained well supported by the positive progress on a potential vaccine for the highly contagious coronavirus disease. These hopes were triggered after the Chinese CDC chief biosafety expert confirmed that the Ordinary Chinese could take the COVID19 vaccine as early as November or December as the phase III clinical trial went very smoothly. Meanwhile, the Pfizer’s Pharmaceutical company also joins the on-going optimism while saying that we will likely provide the pandemic’s cure during this year to the US. 

Apart from this, the upbeat Chinese macro numbers also exerted a positive impact on market trading sentiment. At the data front, China’s August Retail Sales YoY, the number came in at 0.5% versus. 0% exp and -1.1% last, with Industrial Output YoY at +5.6% and +5.1% exp and +4.8% last. In the meantime, the Fixed Asset Investment YoY unchanged at -0.3% vs. -0.4% expected and -1.6% last. At the same time, China’s January-August Private Sector Fixed Asst Investment dropped by 2.8% YoY.  

The greenback failed to extend positive traction and remained bearish on the day. Moreover, the losses in the US dollar could also be attributed to the doubts over the US fiscal stimulus measures. The probabilities for a large stimulus have fallen approximately to zero after Democratic voted to block a Republican bill that would have provided around $300 billion in new coronavirus aid. However, the losses in the US dollar kept the EUR/USD currency pair higher. Whereas, the US dollar index dropped to 93.029, slipping further from a one-month high of 93.664 touched last Wednesday, with its low last week of 92.695 seen as immediate support.


Moving on, the traders will keep their eyes on the Eurozone and German Zew Survey numbers, Eurozone Labor Cost (Q2), scheduled for release at 09:00 GMT. The data will influence the shared currency. Meanwhile, the updates surrounding the Brexit, virus, and US-China tussle could not lose its importance. 

The EURUSD pair has violated the double top resistance level of 1.1885 level, and now it’s trading at 1.1895 level. For now, the EUR/USD may find support at 1.1885 level, and above this, a continuation of a bullish trend may lead EUR/USD price until the 1.1916 level. Bearish correction can be seen until 1.1885 and 1.1870 before the continuation of further buying trends in the EUR/USD.

Entry Price – Buy 1.18896

Stop Loss – 1.18496

Take Profit – 1.19296

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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Gold Extend Previous Day Bullish Rally – Risk-On Market Sentiment!

During Tuesday’s Asian trading session, the yellow metal prices extended its previous day winning streak and edged higher on the 2nd-day of a new week. However, the bullish sentiment around the yellow-metal prices has remained supportive by the prevalent selling bias surrounding the U.S. dollar. The losses in the U.S. dollar was seen as one of the key factors that helped the dollar-denominated commodity. Hence, the U.S. dollar was being pressurized by the doubts over the U.S. fiscal stimulus measures. Besides, the upbeat market mood, backed by the combination of factors, also undermined the U.S. dollar and contributed to the bullion gains. It is worth mentioning that the market trading sentiment was supported by the news suggesting that the Phase III clinical trial went very well, and the vaccine could be ready by November/December.

During Tuesday’s Asian trading session, the yellow metal prices extended its previous day winning streak and edged higher on the 2nd-day of a new week. However, the bullish sentiment around the yellow-metal prices has remained supportive by the prevalent selling bias surrounding the U.S. dollar. The losses in the U.S. dollar was seen as one of the key factors that helped the dollar-denominated commodity. Hence, the U.S. dollar was being pressurized by the doubts over the U.S. fiscal stimulus measures. Besides, the upbeat market mood, backed by the combination of factors, also undermined the U.S. dollar and contributed to the bullion gains. It is worth mentioning that the market trading sentiment was supported by the news suggesting that the Phase III clinical trial went very well, and the vaccine could be ready by November/December.

During Tuesday’s Asian trading session, the yellow metal prices extended its previous day winning streak and edged higher on the 2nd-day of a new week. However, the bullish sentiment around the yellow-metal prices has remained supportive by the prevalent selling bias surrounding the U.S. dollar. The losses in the U.S. dollar was seen as one of the key factors that helped the dollar-denominated commodity. Hence, the U.S. dollar was being pressurized by the doubts over the U.S. fiscal stimulus measures. Besides, the upbeat market mood, backed by the combination of factors, also undermined the U.S. dollar and contributed to the bullion gains. It is worth mentioning that the market trading sentiment was supported by the news suggesting that the Phase III clinical trial went very well, and the vaccine could be ready by November/December.

Meanwhile, the market risk sentiment got a lift after the upbeat Chinese activity data, which pushed the S&P 500 futures back on the bids to test 3380 levels. As in result, the upbeat market tone becomes the key factor that kept the lid on any additional gains in the safe-haven metal. Across the pond, the market trading sentiment was relatively unaffected by the Sino-American tussle, which recently picked up pace after the Trump administration banned certain Chinese products. At this time, the yellow metal prices are currently trading at 1,967.49 and consolidating in the range between 1,955.22 – 1,967.61.

While discussing the positive side of the story, the renewed optimism over a possible vaccine for the highly infectious coronavirus disease boosted the market risk tone. The hopes of the vaccine further boosted after the Chinese CDC chief biosafety expert tweeted that the Ordinary Chinese could take the #COVID19 vaccine as early as November or December as the phase III clinical trial went very smoothly. Meanwhile, the Pfizer’s optimism to provide the pandemic’s cure during this year to the U.S. also boosted the hopes of the vaccine. 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 Customs Tariff Commission of China is considering extending tariff exemption on some of the U.S. goods imports. In the meantime, China’s Finance Ministry stated that the tariff exemption extension applies to products from the U.S. such as lubricants. Apart from this, the upbeat Chinese macro numbers also exerted a positive impact on market trading sentiment. At the data front, China’s August Retail Sales YoY, the number came in at 0.5% versus. 0% exp and -1.1% last, with Industrial Output YoY at +5.6% and +5.1% exp and +4.8% last. In the meantime, the Fixed Asset Investment YoY unchanged at -0.3% vs -0.4% expected and -1.6% last. At the same time, China’s January-August Private Sector Fixed Asst Investment dropped by 2.8% YoY.

Additionally, the reason for the upbeat market tone could also be associated with the positive news suggesting that the Trump administration quietly eased travel warnings towards China and Hong Kong. However, this news recently pleased the market risk tone, which tends to urge investors to invest their money into riskier assets.

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, the tensions between Sino-US picked up further pace after the U.S. blocks Chinese goods made with forced labor. As per the latest report, the Trump administration has banned the import of certain apparel and computer parts from China, while saying forced Muslim laborers make them from the Xinjiang region.

At the Brexit front, the recent victory of the U.K.’s ruling Conservative Party-backed Internal Market Bill (IMB) into the House of Commons also keeps questioning the risk-on market sentiment. Although, the bill defied the opposition Labour Party’s motion for blockage but is yet to be announced as a law.

At the coronavirus front, the on-going rise in COVID-19 cases globally continues to fuel worries concerning the global economic outlook for the foreseeable prospect. The World Health Organization (WHO) recorded a record single-day hike in COVID-19 cases by 307,930 in 24 hours during this weekend.


Looking ahead, the market traders will keep their eyes on updates surrounding the Brexit, virus, and US-CHina tussle. Meanwhile, the U.S. Industrial Production m/m and Import Prices m/m will also be key to watch. The yellow metal gold traded distinctly bullish amid softer U.S. dollar to trade at 1,968 mark. On the upper side, the gold may extend trading upward unto 1,985 resistance. On the selling side, the XAU/USD may gain support at 1,963 and 1,955 mark. Overall, the trading bias appears to be bullish.

Entry Price – Buy 1968.14
Stop Loss – 1962.14
Take Profit – 1975.64
Risk to Reward – 1:1.25
Profit & Loss Per Standard Lot = -$600/ +$750
Profit & Loss Per Micro Lot = -$60/ +$75
Fellas, now you can check out forex trading signals via Forex Academy mobile app. Follow the links below.
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EUR/USD Bullish Momentum Continues – Update on Buying Signal!  

During Monday’s early European trading session, the EUR/USD currency pair successfully extended its previous session bullish trend and kept gaining its positive traction around above the 1.1850 level due to the broad-based U.S. dollar weakness. The U.S. dollar weakness could be associated with the massive U.S. tech selloff. Moreover, the upbeat market sentiment, supported by optimism over a potential vaccine/treatment for the highly infectious coronavirus, also weighed on the safe-haven USD and contributed to the currency pair gains. 

During Monday’s early European trading session, the EUR/USD currency pair successfully extended its previous session bullish trend and kept gaining its positive traction around above the 1.1850 level due to the broad-based U.S. dollar weakness. The U.S. dollar weakness could be associated with the massive U.S. tech selloff. Moreover, the upbeat market sentiment, supported by optimism over a potential vaccine/treatment for the highly infectious coronavirus, also weighed on the safe-haven USD and contributed to the currency pair gains. 

During Monday’s early European trading session, the EUR/USD currency pair successfully extended its previous session bullish trend and kept gaining its positive traction around above the 1.1850 level due to the broad-based U.S. dollar weakness. The U.S. dollar weakness could be associated with the massive U.S. tech selloff. Moreover, the upbeat market sentiment, supported by optimism over a potential vaccine/treatment for the highly infectious coronavirus, also weighed on the safe-haven USD and contributed to the currency pair gains. 

On the other hand, the French FinMin Le Maire’s positive comments over the French economy also gave some support to the shared currency, which pushed the currency pair intra-day high. Meanwhile, the shared currency was also being supported by Thursday’s decision of the European Central Bank (ECB). Apart from this, the investors seem to be avoiding the rise in coronavirus infections across the old continent. The EUR/USD is currently trading at 1.1867 and consolidating in the range between the 1.1831 – 1.1869.

 

The sentient around the shared currency is remained supportive by the comment from the ECB’s Villeroy that “We don’t target exchange rate”. Besides, the central bank’s President Christine Lagarde’s positive statement that Eurozone’s domestic demand had recorded a notable recovery from low levels also played a key role in underpinning the shared currency.

Finance Minister Bruno Le Maire said in an interview with France 2 television on the day that “The French economy is in the right direction.” He further added that “French economy could do better than 11 percent contraction currently forecast for 2020”. Thus, The common currency recently got some extra support from the above comments and hit the intra-day high level around above 1.1865.

On the other hand, the positive tone around the market trading sentiment undermined the safe-haven U.S. dollar, giving support to the currency pair. Despite the fears of no-deal Brexit and the Sino-American tussle, not to forget the record single-day increase in COVID-19 cases, the market trading sentiment extended its early-day positive tone and remained supportive by the weekend positive headlines suggesting the AstraZeneca’s restart of the coronavirus (COVID-19) vaccine trials. As in result, the S&P 500 Futures add 0.73% to 3,347 as of now. Considering the risk-barometers’ positive tone, the market’s safe-haven demand undermined, eventually weighing on the safe-haven U.S. dollar.

The reasons for the risk-on market trading sentiment could be attributed to the positive headlines concerning the coronavirus vaccine. The AstraZeneca showed readiness for resuming its vaccine trials after a brief “routine” pause. At the same time, Pfizer is confident about getting the pandemic’s cure by the year’s end.

As a result, the broad-based U.S. dollar stopped its overnight gains and started to flash red. Moreover, the U.S. dollar losses could also be associated with a selloff rally in U.S. tech stocks overnight. This, in turn, fueled worries about the recovery. However, the losses in the U.S. dollar kept the EUR/USD currency pair higher. Whereas, the U.S. Dollar Index that tracks the greenback against a bucket of other currencies dropped by 0.16% to 93.192 by 11:57 PM ET (4:57 AM GMT).


Looking ahead, the market traders will keep their eyes on updates surrounding the Brexit, virus, and US-CHina tussle. Whereas, investors are also looking to the U.S. Federal Reserve’s policy meeting scheduled to take place on Wednesday. The EUR/USD continues to trade at 1.1835 level as the ECB decided to leave its interest rate unchanged in its Monetary policy meeting.  On the higher side, the pair may find resistance at 1.1839 level and above this, the pair may find the next resistance at 1.1860 level along with support at 1.1828 level. Below 1.1828, the EUR/USD may find the next support at 1.1797 and 1.1755 level.

Entry Price – Buy 1.18562

Stop Loss – 1.18162

Take Profit – 1.18962

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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Gold’s Choppy Session in Play – Brace for Selling Signal! 

During Monday’s early Asian trading session, the yellow metal prices extended its halt its overnight bearish bias and gathered some pace around above the 1,950 level. The U.S. tech stocks continue to fall, led once again by NASDAQ, which tends to help the gold prices to stay bid. However, the weaker bias around the U.S. dollar was mostly driven by the lack of safe-haven demand. Hence, the market trading sentiment was being supported by the news suggesting the AstraZeneca’s restart of the coronavirus (COVID-19) vaccine trials, after stopping it during the last week. In the meantime, the risk-on sentiment was further bolstered by the comments from the European Central Bank (ECB) policymakers suggesting further easy money days. These positive headlines became the key factor that kept the lid on any further yellow metal gains. The market players did not give any major heed to the Sino-US on-going tussle and Brexit looming worries across the pond. 

During Monday’s early Asian trading session, the yellow metal prices extended its halt its overnight bearish bias and gathered some pace around above the 1,950 level. The U.S. tech stocks continue to fall, led once again by NASDAQ, which tends to help the gold prices to stay bid. However, the weaker bias around the U.S. dollar was mostly driven by the lack of safe-haven demand. Hence, the market trading sentiment was being supported by the news suggesting the AstraZeneca’s restart of the coronavirus (COVID-19) vaccine trials, after stopping it during the last week. In the meantime, the risk-on sentiment was further bolstered by the comments from the European Central Bank (ECB) policymakers suggesting further easy money days. These positive headlines became the key factor that kept the lid on any further yellow metal gains. The market players did not give any major heed to the Sino-US on-going tussle and Brexit looming worries across the pond. 

During Monday’s early Asian trading session, the yellow metal prices extended its halt its overnight bearish bias and gathered some pace around above the 1,950 level. The U.S. tech stocks continue to fall, led once again by NASDAQ, which tends to help the gold prices to stay bid. However, the weaker bias around the U.S. dollar was mostly driven by the lack of safe-haven demand. Hence, the market trading sentiment was being supported by the news suggesting the AstraZeneca’s restart of the coronavirus (COVID-19) vaccine trials, after stopping it during the last week. In the meantime, the risk-on sentiment was further bolstered by the comments from the European Central Bank (ECB) policymakers suggesting further easy money days. These positive headlines became the key factor that kept the lid on any further yellow metal gains. The market players did not give any major heed to the Sino-US on-going tussle and Brexit looming worries across the pond. 

The yellow metal price is trading at 1,946.49 and consolidating in the range between 1,937.40 – 1,951.72. The market traders seem cautious to place any strong position ahead of the U.S. Federal Reserve’s policy meeting, which is scheduled to take place on Wednesday. Despite the fears of no-deal Brexit and the Sino-American tussle, not to forget the record single-day increase in COVID-19 cases, the market trading sentiment extended its early-day positive tone and remained supportive by the weekend positive headlines suggesting the AstraZeneca’s restart of the coronavirus (COVID-19) vaccine trials. The S&P 500 Futures add 0.73% to 3,347 as of now. Considering the risk-barometers’ positive tone, the market’s safe-haven demand undermined, eventually weighing on safe-haven metal prices.

The reasons for the risk-on market trading sentiment could be attributed to the positive headlines concerning the coronavirus vaccine. The AstraZeneca showed readiness for resuming its vaccine trials after a brief “routine” pause, while the Pfizer is confident about getting the cure of the pandemic by the year’s end. Furthermore, the U.S. Consumer Price Index (CPI) data flashed another positive signal, after the Producer Price Index (PPI), for the Federal Reserve policymakers to meet this week. This exerted an extra positive impact on the market trading sentiment. Moreover, the market trading sentiment was further bolstered by the latest positive report that Libya’s oil industry will reopen after almost 8-months of a stop to exports.  

The fears of no-deal Brexit and the Sino-American tussle keep challenging the positive market tone across the ocean, which might help the yellow-metal prices. At the US-China front, the tensions between Sino-US remain on the card amid China’s retaliation to the U.S. sanctions on diplomats. Meanwhile, the looming decision on TikTok also keeps the world’s two largest economies at the slippery track.

At the coronavirus front, the on-going rise in COVID-19 cases globally continues to fuel worries concerning the global economic outlook for the foreseeable future. The World Health Organization (WHO) recorded a record single-day hike in COVID-19 cases by 307,930 in 24 hours. Apart from this, Politico’s news that Iran’s preparing to take revenge for their soldier Qassem Soleimani adds pressure to the market trading sentiment. Furthermore, New Zealand’s extension of lockdown restrictions until September 21 with stricter conditions in Auckland also ap further gains in the equity market. This, in turn, might helps the safe-heaven gold prices.

On the flip side, the news that Tropical Storm Sally is expected to become a hurricane on Monday may affect a region stretching from Morgan City, Louisiana, to Ocean Springs, Mississippi. Thus, these gloomy headlines might support the gold prices by undermining the market trading sentiment. Looking ahead, the market traders will keep their eyes on updates surrounding the Brexit, virus, and US-CHina tussle. Whereas, investors are also looking to the U.S. Federal Reserve’s policy meeting scheduled to take place on Wednesday.


Gold is trading at 1947 mark, meeting the next resistance at 1,950. On the 4 hour chart, XAU/USD has set a double top pattern that’s expected to drive gold prices lower unto 1,942 mark. Overall trading in gold is sideways in between 1,950 to 1,942 mark though, the destruction of this area may drive additional moves. On the higher side, resistance lingers at 1,958 and 1,966 while support lingers at 1,937 level. 

Entry Price – Sell 1947.44 

Stop Loss – 1953.44

Take Profit – 1939.94

Risk to Reward – 1:1.25

Profit & Loss Per Standard Lot = -$600/ +$750

Profit & Loss Per Micro Lot = -$60/ +$75

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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Gold Failed to Maintain Overnight Bullish Run-Up – Quick Update!

The yellow metal prices failed to extend its bullish overnight rally and instantly dropped below the $1,940 level after hitting 9-day high overnight. However, the overnight gains could be attributed to the report suggesting the second week of U.S. stock selloff and fall in the U.S. dollar. Still, the gains in the precious metals were short-lived as the market trading sentiment turned positive.

The yellow metal prices failed to extend its bullish overnight rally and instantly dropped below the $1,940 level after hitting 9-day high overnight. However, the overnight gains could be attributed to the report suggesting the second week of U.S. stock selloff and fall in the U.S. dollar. Still, the gains in the precious metals were short-lived as the market trading sentiment turned positive.

The yellow metal prices failed to extend its bullish overnight rally and instantly dropped below the $1,940 level after hitting 9-day high overnight. However, the overnight gains could be attributed to the report suggesting the second week of U.S. stock selloff and fall in the U.S. dollar. Still, the gains in the precious metals were short-lived as the market trading sentiment turned positive.

Thus, the market trading sentiment was supported by optimism over a possible vaccine and treatment for the highly infectious coronavirus, as well as Tokyo’s optimism over easing lockdown restriction also favor the market trading sentiment, which ultimately undermined the safe-haven metal.

On the contrary, the coronavirus (COVID-19) woes and the US-China tussle keep challenging the market risk-on mood, which capped further downside momentum for the bullion. Elsewhere, the broad-based U.S. dollar weakness could help the bullion prices to limit its deeper losses. The yellow metal is trading at 1,941.80 and consolidating in the range between 1,937.41 – 1,949.35.

It is worth recalling that the market trading sentiment is rather unaffected by the on-going uncertainties over the much-awaited fiscal package, fueling worries over the U.S. economic recovery. Moreover, the market players are also ignoring President Donald Trump’s hard stand against TikTok and the recent cancellation of over 1,000 visas from Beijing. Besides, the fears of a no-Brexit deal also failed to hurt the market trading sentiment. As in result, the futures tied to the S&P 500 are adding 0.57%.

However, the market trading tone was being supported by optimism over a possible vaccine and treatment for the coronavirus. After the Goldman Sachs, these hopes fueled that Pfizer’s candidate said that Pfizer’s candidate vaccine could be approved as early as October. In the meantime, the news of receding tensions between India and China and the positive news over the receding coronavirus (COVID-19) led activity restrictions in Tokyo also boosted the market trading sentiment. This in, turn, undermined the safe-haven metal.

Moreover, the latest record recovery in the BSI Large Manufacturing Conditions Index for the third quarter (Q3), from -44.2 expected and -52.3 before +0.1, citing that the Japanese economy is set for a strong recovery, also favor the market risk tone and kept the yellow-metal prices under pressure.

As in result, the broad-based U.S. dollar failed to gain any positive traction and took the offer on the day as doubts persist over the global economic recovery from the U.S. stock selloff witnessed that selloff. As well as the risk-on market sentiment also weighed on the American currency. Whereas, the U.S. Dollar Index that tracks the greenback against a basket of other currencies dropped by 0.10% to 93.295 by 9:40 PM ET (2:40 AM GMT).

At the coronavirus front, the global COVID-19 cases continue to increase, which fade hopes of a faster economic recovery. As per the latest statement, there are around 28 million COVID-19 cases globally as of September 11, according to Johns Hopkins University data. These fears might urge traders to invest in the safe-haven asset like gold.

Looking ahead, the market traders will keep their eyes on the U.S. Consumer Price Index (CPI) for August, which is expected 1.2% against 1.0% YoY. Moreover, the updates surrounding the Sino-US tussle and Brexit-related headline could not lose their importance.


The precious metal gold has disrupted the triple bottom support level of 1,942 level and it continues to trade below this level. Gold may find an immediate support at 1,937 level and bearish breakout of this level can extend selling bias until 1,921. Conversely, the bullish crossover of 1,942 level may drive buying trend until 1,950 level and above this, the immediate target is expected to be 1,965 level. Let’s brace for the U.S. Inflation data to encourage further trend in gold. Good luck!

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Forex Signals

USD/CHF Depressed Near 1-1/2-Week Lows Below 0.9100 – Signal Update 

During the Friday’s Asian trading hours, the USD/JPY currency pair failed to stop its previous day declining streak and took further offers below the 0.9100 level. Let me remind you, the currency pair extended this week’s rejection slide from the 0.9200 round-figure marks and saw some follow-through selling for the third-straight session on Friday. However, the reason for the bearish tone around the currency pair could be associated with the broad-based U.S. dollar weakness, triggered after the U.S. markets witnessed yet another stock selloff overnight. Apart from this, the upbeat market sentiment, supported by optimism over a potential vaccine/treatment for the highly infectious coronavirus, also undermined the safe-haven U.S. dollar and contributed to the currency pair gains. 

During the Friday’s Asian trading hours, the USD/JPY currency pair failed to stop its previous day declining streak and took further offers below the 0.9100 level. Let me remind you, the currency pair extended this week’s rejection slide from the 0.9200 round-figure marks and saw some follow-through selling for the third-straight session on Friday. However, the reason for the bearish tone around the currency pair could be associated with the broad-based U.S. dollar weakness, triggered after the U.S. markets witnessed yet another stock selloff overnight. Apart from this, the upbeat market sentiment, supported by optimism over a potential vaccine/treatment for the highly infectious coronavirus, also undermined the safe-haven U.S. dollar and contributed to the currency pair gains. 

During the Friday’s Asian trading hours, the USD/JPY currency pair failed to stop its previous day declining streak and took further offers below the 0.9100 level. Let me remind you, the currency pair extended this week’s rejection slide from the 0.9200 round-figure marks and saw some follow-through selling for the third-straight session on Friday. However, the reason for the bearish tone around the currency pair could be associated with the broad-based U.S. dollar weakness, triggered after the U.S. markets witnessed yet another stock selloff overnight. Apart from this, the upbeat market sentiment, supported by optimism over a potential vaccine/treatment for the highly infectious coronavirus, also undermined the safe-haven U.S. dollar and contributed to the currency pair gains. 

On the contrary, the positive tone around the equity market also undermined the safe-haven Swiss franc. It became the factor that cap further downside momentum for the USD/CHF currency pair. Currently, the USD/CHF currency pair is currently trading at 0.9098 and consolidating in the range between 0.9080 – 0.9110.

It is worth mentioning that the broad-based U.S. dollar remained bearish through the first half of the trading action amid strong buying around the single currency, which remained supported by the report that ECB officials are growing more optimistic over the Eurozone economic outlook. Furthermore, the stronger tone surrounding the global equity markets also undermined the safe-haven U.S. dollar.

The market trading sentiment remained supported by the Indian and Chinese military group’s joint statement to ease the border tension. Besides this, the positive headlines over the receding coronavirus (COVID-19) led activity restrictions in Tokyo, and the record recovery in the BSI Large Manufacturing Conditions Index for the 3rd-quarter (Q3) also exerted a positive impact on the market sentiment. In the meantime, the optimism over the coronavirus (COVID-19) vaccine/treatment led by the positive comment from the Goldman Sachs that Pfizer’s candidate vaccine could be approved as early as October, boosted the risk sentiment. 

On the contrary, the positive around the equity markets also weakened the demand of safe-haven Swiss franc, which becomes the factor that caps further downside momentum for the USD/CHF currency pair.

The losses could be associated with the euro’s bullish momentum, led by the European Central Bank’s latest policy announcement. However, the U.S. dollar losses became the key factor that kept the currency pair under pressure. Across the ocean, the equity market’s optimism was unaffected by the intensified US-China tussle and Brexit concerns. At the US-China front, the Trump administration continues to keep TikTok on the sellers’ radar. In the meantime, the cancellation of over 1,000 visas of Chinese residents also irritates China. 

Moving on, the market traders will keep their eyes on the U.S. Consumer Price Index (CPI) for August, which is expected 1.2% against 1.0% YoY. Moreover, the updates surrounding the Sino-US tussle and Brexit-related headline could not lose their importance.


On the technical front, the USD/CHF is trading with a bearish bias at 0.9091 level, facing immediate resistance at 0.9108 level. On the lower side, the USD/CHF may drop until the support level of 0.9055 level. The MACD and 50 EMA are in support of selling bias today. Check out the trade plan below: 

Entry Price – Sell 0.90897

Stop Loss – 0.91297

Take Profit – 0.90497

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 Violates Double Top – Brace for Buying Trade 

The AUD/USD currency pair failed to keep its Asian session bullish momentum and dropped below the 0.7270 level despite the welcome prints of second-tier Aussie data and weaker U.S. dollar. As we know, these factors initially gave support to the currency pair, but unfortunately, the currency pair failed to keep its bullish momentum into the European session. However, the reason for the bearish sentiment around the currency pair could be associated with the on-going tussle between the US-China, which leads to the decline in U.S. stock’s future. In turn, this undermined the perceived risk currency Australian dollar and contributed to the currency pair losses.

The AUD/USD currency pair failed to keep its Asian session bullish momentum and dropped below the 0.7270 level despite the welcome prints of second-tier Aussie data and weaker U.S. dollar. As we know, these factors initially gave support to the currency pair, but unfortunately, the currency pair failed to keep its bullish momentum into the European session. However, the reason for the bearish sentiment around the currency pair could be associated with the on-going tussle between the US-China, which leads to the decline in U.S. stock’s future. In turn, this undermined the perceived risk currency Australian dollar and contributed to the currency pair losses.

The AUD/USD currency pair failed to keep its Asian session bullish momentum and dropped below the 0.7270 level despite the welcome prints of second-tier Aussie data and weaker U.S. dollar. As we know, these factors initially gave support to the currency pair, but unfortunately, the currency pair failed to keep its bullish momentum into the European session. However, the reason for the bearish sentiment around the currency pair could be associated with the on-going tussle between the US-China, which leads to the decline in U.S. stock’s future. In turn, this undermined the perceived risk currency Australian dollar and contributed to the currency pair losses.

The U.S. stock futures failed to keep its Asian session positive tone and trimmed its previous gains, possibly due to the renewed conflict between the U.S. and China. On the contrary, the investors continued to cheer the hopes over a possible vaccine and treatment for the highly infectious coronavirus. These hopes came after the comments from Goldman Sachs that the Pfizer’s candidate vaccine could be approved as early as October. Also supporting the market tone was the news that Tokyo will ease its coronavirus (COVID-19)-led lockdown restrictions by one notch. This might help the currency pair to limit its deeper losses.

As in result, the broad-based U.S. dollar failed to gain any positive traction and edged lower on the day. Furthermore, the U.S. dollar losses could also be associated with the cautious sentiment ahead of the European Central Bank (ECB) meeting taking place later in the day. However, the U.S. dollar losses become the key factors that capped further downside momentum in the currency pair.

Moving ahead, the market traders will keep their eyes on the European Central Bank (ECB) decision and headlines from London for intermediate moves ahead of 16:30 GMT speech by BOC’s Macklem. Furthermore, the U.S. Initial Jobless Claims’ weekly release, which is expected 846K versus 881K prior, will also be key to watch. In the meantime, the USD moves and coronavirus headlines will also closely followed as they could play a key role in the currency pair.

The AUD/USD pair is trading slightly bullish in the wake of retracement at 0.7225 level. The AUD/USD pair may find immediate support around 0.7190 level, and violation of this level can open further room for selling until the 0.7139 level. On the higher side, the AUD/USD may find resistance at 0.7249 level, and above this, the next resistance can be found around 0.7301 level.



The AUD/USD pair is trading slightly bullish in the wake of retracement at 0.7225 level. The AUD/USD pair may find immediate support around 0.7190 level, and violation of this level can open further room for selling until the 0.7139 level. On the higher side, the AUD/USD may find resistance at 0.7249 level, and above this the next resistance can be found around 0.7301 level.

Entry Price – Buy 0.72957

Stop Loss – 0.72557

Take Profit – 0.73357

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 Upward Channel Supports Buying – Checkout Buying Signal

The yellow metal prices extended its bullish overnight rally and still taking bid around above the 1,950 level. Let me remind you that the fall in U.S. tech stocks initially boosted the safe-haven metal’s rise during the previous session, pulling it up from a low of $1,927.20 to an overnight high of $1,959.35. 

The yellow metal prices extended its bullish overnight rally and still taking bid around above the 1,950 level. Let me remind you that the fall in U.S. tech stocks initially boosted the safe-haven metal’s rise during the previous session, pulling it up from a low of $1,927.20 to an overnight high of $1,959.35. 

The yellow metal prices extended its bullish overnight rally and still taking bid around above the 1,950 level. Let me remind you that the fall in U.S. tech stocks initially boosted the safe-haven metal’s rise during the previous session, pulling it up from a low of $1,927.20 to an overnight high of $1,959.35. 

The reason for the on-going bullish tone around the gold prices could also be associated with the broadly weaker U.S. dollar. However, the weaker tone around the U.S. dollar was mainly driven by the trader’s cautious sentiment before of the European Central Bank (ECB) meeting. Therefore, the market trading sentiment was being supported by the news that TikTok parent’s request to not push for the entire sale to the U.S. 

Furthermore, the U.S. State Department’s keeps doors open for Chinese students who don’t support their leading national party, after over 1,000 visa rejection. This also exerted a positive impact on the market trading sentiment and became the key events that kept the pressure on any additional gains in the yellow metal. The yellow metal prices are currently trading at 1,947.58 and consolidating in the range between 1,943.76 – 1,950.78. As we know, the market sentiment remains mostly positive, while the lack of catalysts and the pre-ECB attentiveness could also be considered as reasons for the recent gold pullback.

Despite the on-going Sino-American tussle and worries concerning the U.S. stimulus package, the market trading sentiment extended its previous session positive tone. It remained supportive of the combination of factors. As in result, the S&P 500 Futures print 0.30% gains to 3,404 by the press time. Hence, the reason for the risk-on market trading sentiment could be attributed to the positive headlines concerning TikTok. It should be noted that the TikTok’s parent Bytedance is in talks with the U.S. to avoid the full sale of the company. This eventually trimmed the safe-haven demand in the market. Also supporting the market tone could be the news that the U.S. showing willingness to keep doors open for Chinese students, those who don’t support their leading national party, after over 1,000 visa rejection. Apart from this, the recent news that Tokyo is considering easing virus-led lockdown also favors market trading sentiment.  

At the USD front, the broad-based U.S. dollar failed to maintain its previous day gaining streak and dopped on the day mainly due to the risk-on market sentiment. Moreover, the U.S. dollar losses could also be associated with cautious sentiment ahead of the European Central Bank (ECB) meeting taking place later in the day. However, the U.S. dollar losses kept the gold prices higher as the price of gold is negatively related to the price of the U.S. dollar. While , the U.S. Dollar Index that measures the greenback against a bucket of other currencies dropped by 0.10% to 93.165 by 11:54 PM ET (4:54 AM GMT).

Across the Pond, the tensions between China and the U.S., and India keep gaining market attention and challenged the market risk-on tone. The tensions between Sino-US were further fueled after President US Trump warned to “stand tough against the Dragon Nation” if he is re-elected. Elsewhere, the tussle between China and India still on in the background, while uncertainty over the Brexit deal keeps challenging the market risk-on sentiment, which might help further the safe-haven yellow metal.

At the coronavirus front, the on-going rise in COVID-19 cases globally continues to fuel worries concerning the global economic forecast for the foreseeable future. As per the latest report, there are approximately 28 million COVID-19 cases globally as of September 10. However, these fears keep hurt the positive trading sentiment. 

Looking ahead, the market traders will keep their eyes on updates surrounding the Sino-US tussle, as well as Brexit related headline. Simultaneously, the market traders seem cautious ahead of the ECB meeting as they await a strong positive message from the ECB, which is less likely, to keep the recent rise.


The yellow metal gold has disrupted the resistance mark of 1,935 level, and presently it’s meeting resistance at the 1,949 mark. A bullish violation of the 1,949 mark may trigger buying until the 1,958 level on the upper side. Whereas, the support extends to operate at 1,935 and 1,922. The U.S. Unemployment Claims and PPI data will be the main market mover for gold.

 

Entry Price – Buy 1954.54

Stop Loss – 1948.54

Take Profit – 1962.04

Risk to Reward – 1:1.25

Profit & Loss Per Standard Lot = -$600/ +$750

Profit & Loss Per Micro Lot = -$60/ +$75

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 Failed To Maintain Its Previous Day Bullish – Let’s Capture Sell! 

During Wednesday’s European trading session, the USD/CAD currency pair failed to extend its previous session bullish bias. They dropped from the 1.3257, the August 17 high to 1.3215 level mainly due to the cautious mood of the traders ahead of the Bank of Canada’s (BOC) monetary policy meeting, which is due to happen at 14:00 GMT. 

During Wednesday’s European trading session, the USD/CAD currency pair failed to extend its previous session bullish bias. They dropped from the 1.3257, the August 17 high to 1.3215 level mainly due to the cautious mood of the traders ahead of the Bank of Canada’s (BOC) monetary policy meeting, which is due to happen at 14:00 GMT. 

During Wednesday’s European trading session, the USD/CAD currency pair failed to extend its previous session bullish bias. They dropped from the 1.3257, the August 17 high to 1.3215 level mainly due to the cautious mood of the traders ahead of the Bank of Canada’s (BOC) monetary policy meeting, which is due to happen at 14:00 GMT. 

On the contrary, the broad-based U.S. dollar bullish bias, strengthened by the market risk-off sentiment, turned out to be a top factor that caps further downside momentum for the currency pair. Across the ocean, the reason for the currency pair declining rally could be associated with the fresh upticks in the crude oil prices, which tend to underpin the commodity-linked currency the loonie, and becomes the key factors that kept the currency pair under pressure. At the moment, the USD/CAD currency pair is currently trading at 1.3224 and consolidating in the range between 1.3215 – 1.3260.

The long-lasting disappointment bolstered the risk-off market sentiment over the lack of progress in the much-awaited fiscal package. The U.S. Democratic Party leaders still have differences in package figures. Apart from this, the intensifying US-Chia tussle also kept the market trading sentiment under pressure. President US Trump recently gave the warning while hinting further punitive measures over the Chinese diplomats. He further added that we would take a tough stand against the Dragon Nation” if Trump is re-elected. However, the cautious mood around the equity markets underpinned the safe-haven U.S. dollar. 

At the crude oil front, the crude oil prices have started to gains some positive traction during the European session mainly backed by the record supply cuts by the Organization of the Petroleum Exporting Countries and allies, known as OPEC+. 

Looking forward, the market traders will keep their eyes on the Bank of Canada’s (BOC) monetary policy meeting, which is due to be released at 14:00 GMT. The risk catalyst like geopolitics and the virus woes, not to forget the Brexit, will also be key to watch for the fresh direction.


The USD/CAD has enrolled the overbought region at 1.3225 mark and has formed candles like Doji and Spinning top beneath the solid resistance mark of 1.3262 level. It appears like traders are getting ready to trade the Bank of Canada monetary policy outcome. Here’s a trade plan for today. 

Entry Price – Sell 1.32219

Stop Loss – 1.32619

Take Profit – 1.31819

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 – Trader’s Brace for a Breakout 

The yellow metal prices failed to stop its previous day losing streak and dropped to 1,923.20 level mainly due to the broad-based U.S. dollar strength, backed by the upbeat prints of the NFIB Small Business Index and anti-risk moves. However, the broad-based U.S. dollar strength could be considered as one of the main reasons behind the yellow-metal latest weakness. 

The yellow metal prices failed to stop its previous day losing streak and dropped to 1,923.20 level mainly due to the broad-based U.S. dollar strength, backed by the upbeat prints of the NFIB Small Business Index and anti-risk moves. However, the broad-based U.S. dollar strength could be considered as one of the main reasons behind the yellow-metal latest weakness. 

The yellow metal prices failed to stop its previous day losing streak and dropped to 1,923.20 level mainly due to the broad-based U.S. dollar strength, backed by the upbeat prints of the NFIB Small Business Index and anti-risk moves. However, the broad-based U.S. dollar strength could be considered as one of the main reasons behind the yellow-metal latest weakness. 

Whereas, the bullish sentiment around the U.S. dollar was further improved after the U.S. markets saw a second rout in tech stocks in less than a week, which gave a boost to the U.S. dollar and dragged the yellow-metal down. On the other hand, the market earlier optimism over the coronavirus (COVID-19) vaccine/treatment was overshadowed by the latest reports that suggested the pause in AstraZeneca’s COVID-19 vaccine trials. This, in turn, undermined the market trading sentiment, which might help the gold prices to limit its deeper losses. 

It’s also worth reporting that the gold prices faced a steep drop and then recovery during the previous session. However, the rally was backed by major selloffs in stocks. The yellow-metal prices fall, bounce, and flatten could be attributed to the second U.S. big tech stocks record-breaking fall, which caused U.S. markets to fall. The overnight surge in gold prices along with lift in the dollar at the same time seems unusual, as one generally falls as the other gains. But the gains in the gold prices were short-lived as the U.S. dollar becomes the market favourite.

However, the equity market has been flashing red since the Asian session started. The reason could be associated with the major negative catalysts. Be it the further delay in the much-awaited coronavirus (COVID-19) relief package or the resurgence of COVID-19 new cases in the U.S., not to forget the long-lasting US-China and China-India tussle, all these factors are weighing on the market trading sentiment, which could be considered as the main factors that capped further downside momentum for the safe-haven assets. Apart from this, the fears of the U.K. and the European Union’s (E.U.) Brexit talks and a pause in the AstraZeneca’s COVID-19 vaccine trials also add pessimism around the market trading sentiment.

On the contrary, the stabilizing virus figures in Australia, China, and Japan helps the market trading sentiment to limit its deeper losses and might cap the further upside for the gold.

 

At the US-China front, the U.S. President Donald Trump pledged to “stand tough on China”, if he is re-elected. However, these statements could be witnessed by the Trump administration’s recent punitive measures over the Chinese diplomats. Whereas, the Dragon Nation did not feel reluctant to take revenge from the U.S. while announcing new U.S. visa restrictions.

At the USD front, the broad-based U.S. dollar extended its previous day bullish trend on the day amid downbeat sentiment in the market. Also supporting the U.S. dollar prices could be the major selloffs in U.S. stocks. The U.S. markets saw a second rout in tech stocks in less than a week, which underpinned the U.S. dollar. However, the gains in the U.S. dollar kept the gold prices under pressure as the price of gold is negatively related to the price of the U.S. dollar. Whereas, the U.S. Dollar Index, which tracks the greenback against a basket of other currencies rose by 0.07% to 93.502 by 10:01 PM ET (3:01 AM GMT). 

Gold prices are supported amid a selloff in the U.S. stocks, especially Amazon, Apple, Microsoft and Facebook. Gold prices are now trading sideways around 1,927 level, with immediate support at 1,922 and resistance at 1,935 level. On the higher side, the XAU/USD may find next resistance at 1,942 level upon the breakout of 1,935 level. Conversely, a bearish breakout of 1,922 level may lead gold prices towards 1,917 and 1,910 level. Good luck! 

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Forex Signals

Gold Consolidates in a Triangle Pattern

Description

Description

Description

In its 4-hour chart, the Gold price exposes a corrective sequence that follows the structure of a descending triangle pattern. This chartist figure suggests the possibility of a bearish continuation.
In the same way, according to the Elliott wave theory, the corrective pattern that follows a 3-3-3-3-3 sequence remains incomplete. Until now, the triangle pattern should complete its wave e of Subminuette degree identified in green before continuing its bearish short-term trend.
On the other hand, the RSI oscillator tested the zone below level 40, suggesting the change of the short-term bias from bullish to bearish.
In this context, there exists the possibility of a limited upward move toward the zone between $1,955.70 and $1,973.33 per ounce, from where the precious metal could complete the wave e in green and found fresh sellers expecting to incorporate their limit short positions.
We expect the test of the $1,956 per ounce from where the yellow metal could start to decline with a potential profit target in the zone of $1,862.9 per ounce. This level corresponds to the Augusts’ low from where the price started to consolidate in a triangle pattern.
Our bearish scenario’s invalidation level locates at $1,993.48 per ounce, corresponding to the end of wave c in green.

Trading Plan Summary

  • Entry Level: 1,956.48
  • Protective Stop: 1,993.48
  • Profit Target: 1,863.48
  • Risk/Reward Ratio: 2.51
  • Position Size: 0.01 lot per $1,000 in trading account.

Check out the latest trading signals on the Forex Academy App for your mobile phone from the Android and iOS App Store.

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Forex Signals

GBP/USD Closes Hammer Pattern – Eyes on 38.2% Fibo Level!


Entry Price – Buy 1.30403
Stop Loss – 1.29903
Take Profit – 1.31003
Risk to Reward – 1:1.2
Profit & Loss Per Standard Lot = -$500/ +$600
Profit & Loss Per Micro Lot = -$50/ +$60
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/USD Slips Muti-Week Low – 40 Green Pips Encashed 

During Tuesday’s European trading session, the GBP/USD currency pair failed to stop its previous day bearish moves and dropped further to a multi-week low near below the 1.3050 level while represented 0.113% losses on the day mainly due broad-based U.S. dollar ongoing strength, backed by high safe-haven demand. 

During Tuesday’s European trading session, the GBP/USD currency pair failed to stop its previous day bearish moves and dropped further to a multi-week low near below the 1.3050 level while represented 0.113% losses on the day mainly due broad-based U.S. dollar ongoing strength, backed by high safe-haven demand. 

During Tuesday’s European trading session, the GBP/USD currency pair failed to stop its previous day bearish moves and dropped further to a multi-week low near below the 1.3050 level while represented 0.113% losses on the day mainly due broad-based U.S. dollar ongoing strength, backed by high safe-haven demand. 

On the other hand, the reason behind the currency pair declines could also be associated with the rising fears of a no-deal Brexit, which joined the Cable’s ongoing pessimism and contributed to the currency pair losses. The rising coronavirus cases in the U.K. also add downside pressure around the currency pair. At this particular time, the GBP/USD currency pair is currently trading at 1.3051 and consolidating in the range between 1.3023 – 1.3174.

The U.K.’s Environment Secretary George Eustice declined chatters surrounding significant changes in the Brexit agreement, while the E.U. diplomat Michael Barnier recently showed a willingness to leave the trade negotiations. On the other hand, Ireland’s Foreign Minister advised traders to not overreact to the news that the Tories may seek to weaken the Brexit withdrawal agreement. In the meantime, the Irish diplomat warned the Boris Johnson and Company over any such action. In turn, this raised the fears of further losses to the British funds after seeing a record outflow of $1.6 billion in three months to August amid such pessimism.

Also fueling the concerns was the report that the Head of the U.K. Government’s legal department, Jonathan Jones, resigned from his dissatisfaction concerning the overall Brexit situation. It is worth mentioning that Jones is the 6th-senior U.K. government official to resign this year, which increases the ongoing uncertainty over the political scene. This, in turn, undermined the British Pond and extended the currency pair losses.

Moreover, Germany’s Finance Minister Olaf Scholz stated that London’s latest signals do not raise hopes for a Brexit agreement. However, these downbeat comments from Scholzfurther fueled the uncertainty around the Brexit agreement. At the coronavirus front, the U.K.’s coronavirus (COVID-19) cases eased from the highest since May of 2,988 to 2,948 while eased the virus-led restrictions from Northern England. Moreover, BOE’s Chief Economist Andy Haldane appreciated the U.K. recovery from the virus-hit times and pushed for the furlough scheme’s end. However, these positive headlines failed to reduce the ongoing bearish tone around the currency pair.

As in result, the broad-based U.S. dollar flashed green and took the safe-haven bids on the day amid market risk-off sentiment. However, the U.S. dollar gains could also be associated with the upbeat U.S. labor market report, which showed a decline in the unemployment rate. Thus, the gains in the U.S. dollar kept the currency pair under pressure. Whereas, the U.S. Dollar Index, which tracks the greenback against a basket of other currencies, rose by 0.13% to 93.168 by 9:53 PM ET (2:53 AM GMT).


Looking forward, the market traders will keep their eyes on the Brexit talks. The risk catalyst like geopolitics and the virus woes will be key to watch for the fresh direction, not to forget the Brexit. The GBP/USD is trading within a downward channel extending resistance at 1.3137 level and a support level of 1.3020 level. Violation of 1.3021 level may drive the selling trend until the next support level of 1.2959 level. Well, we are already out of the trade as our forex trading signal at taking profit at 1.30917, securing us 40 green pips. Let’s brace for profit-taking before taking selling trade below 1.3085 level. Good luck! 

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Forex Signals

USD/CAD Remains On Bullish Track – Quick Buy Trade!

The USD/CAD succeeded in extending its previous day winning streak and still taking bids around well above the 1.3100 level. However, the positive tone around the currency pair could be associated with the broad-based U.S. dollar on-going strength, backed by the Friday released upbeat U.S. jobless rate data and hopes of the U.S. stimulus. The U.S. dollar gains were also supported by the high safe-haven demand in the market.

The USD/CAD succeeded in extending its previous day winning streak and still taking bids around well above the 1.3100 level. However, the positive tone around the currency pair could be associated with the broad-based U.S. dollar on-going strength, backed by the Friday released upbeat U.S. jobless rate data and hopes of the U.S. stimulus. The U.S. dollar gains were also supported by the high safe-haven demand in the market.

The USD/CAD succeeded in extending its previous day winning streak and still taking bids around well above the 1.3100 level. However, the positive tone around the currency pair could be associated with the broad-based U.S. dollar on-going strength, backed by the Friday released upbeat U.S. jobless rate data and hopes of the U.S. stimulus. The U.S. dollar gains were also supported by the high safe-haven demand in the market.

On the other side of the ocean, the reason for the currency pair bullish bias could also be attributed to the weaker crude oil prices, which tend to undermine 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 1.3117 and consolidating in the range between 1.3084 – 1.3120.

Despite the hopes of the U.S. stimulus package and coronavirus vaccine, the market trading sentiment represents mixed signals as the confused performance of Asia-Pacific stocks and declines of the U.S. 10-year Treasury yields 0.70%, tend to highlight the risk-off mood. This, in turn, underpinned the U.S. dollar and extended some support to the currency pair.

However, the reason behind the risk-off market sentiment could be attributed to the intensified US-China tussle. Both nations are using very harsh words against each other. The latest headlines suggest that the U.S. is considering banning some or all products made with cotton from China’s Xinjiang province. This happened after Beijing’s visa restrictions over the American reporters. The gloomy headlines concerning the Brexit also weighed on the market trading sentiment, which eventually increased the market’s safe-haven demand.

At the data front, the headline Non-farm payrolls data for August missed expectations with +1371K. However, the unemployment rate dropped to 8.4%.vs 9.8% expected. In the meantime, the Average Hourly Earnings exceeded predictions, with +0.4% MoM in August vs. 0% expected.

At the USD front, the broad-based U.S. dollar has resumed its gaining streak since the beginning of this week and is supported by some heavy selling pressure around the European currencies. The concerns about rising US-China tensions increased the safe-haven demand in the market, which also helps the U.S. dollar as it safe-aven status. Thus, the gains in the U.S. dollar kept the currency pair higher. Whereas, the U.S. Dollar Index, which tracks the greenback against a basket of other currencies, rose by 0.13% to 93.168 by 9:53 PM ET (2:53 AM GMT).

The crude oil prices failed to stop its previous da losing streak and dropped further below the 39.00 marks. However, the reason for the bearish bias around the crude oil prices could be attributed to the renewed worries over the economic recovery after the U.S. reported fresh COVID-19 cases. Also weighing on the oil prices could be the reports that suggested the end of the peak driving season in the U.S. Thus, the declines in oil prices undermined demand for the commodity-linked currency the loonie and contributed to the currency pair gains.

Despite the combination of supporting factors, the buyers seemed to struggle to push the USD/CAD currency pair beyond a two-month-old descending trend channel. However, the traders avoided placing any strong bids ahead of the latest BoC monetary policy decision on Wednesday. The risk catalyst like geopolitics and the virus woes will be key to watch for the fresh direction, not to forget the Brexit.


The USD/CAD is trading with a bullish bias at 1.3156, having violated the resistance level of 1.3113. Recently, the closing of the bullish engulfing candle on the 2-hour timeframe is suggesting bullish bias; therefore, we have opened a buying trade in the USD/CAD pair. Check out the trading signal below.

Entry Price – Buy 1.31327
Stop Loss – 1.30927
Take Profit – 1.31727
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 Facing Hard Time Below 1.3110 – Quick Sell Trade! 

The USD/CAD succeeded to extend its early day bullish bias and hit the intra-day high well above 1.3100 level mainly due to the broad-based US dollar strength backed by the Friday released upbeat US jobless rate and wage growth data. The US dollar gains were also supported by the high safe-haven demand in the market. Across the pond, the reason for the currency pair bullish bias could also be attributed to the weaker oil prices which ultimately undermined the demand for the commodity-linked currency the loonie, and contributed to the currency pair gains. 

The USD/CAD succeeded to extend its early day bullish bias and hit the intra-day high well above 1.3100 level mainly due to the broad-based US dollar strength backed by the Friday released upbeat US jobless rate and wage growth data. The US dollar gains were also supported by the high safe-haven demand in the market. Across the pond, the reason for the currency pair bullish bias could also be attributed to the weaker oil prices which ultimately undermined the demand for the commodity-linked currency the loonie, and contributed to the currency pair gains. 

The USD/CAD succeeded to extend its early day bullish bias and hit the intra-day high well above 1.3100 level mainly due to the broad-based US dollar strength backed by the Friday released upbeat US jobless rate and wage growth data. The US dollar gains were also supported by the high safe-haven demand in the market. Across the pond, the reason for the currency pair bullish bias could also be attributed to the weaker oil prices which ultimately undermined the demand for the commodity-linked currency the loonie, and contributed to the currency pair gains. 

The market trading sentiment reporting losses on the day as the US-China tussle picked up the pace. As well as, the gloomy headlines concerning the Brexit also weighed on the market trading sentiment, which eventually increased the safe-haven demand in the market. This, in turn, underpinned the US currency.

Also supporting the US dollar was the upbeat US labor market report. At the data front, the headline Non-farm payrolls data for August missed expectations with +1371K. However, the unemployment rate dropped to 8.4%.vs 9.8% expected. In the meantime, the Average Hourly Earnings exceeded predictions, with +0.4% MoM in August vs. 0% expected.

The USD front, the broad-based US dollar managed to maintain its bullish trend and remains on the bullish track on the day. However, the US dollar gains were also supported by the upbeat US labor market report, that reported a drop in the U.S. unemployment rate, and a surge in U.S. Treasury yields. Thus, the gains in the US dollar kept the currency pair higher. Whereas, the U.S. Dollar Index that tracks the greenback against a basket of other currencies edged up 0.18% to 92.882 by 12:05 AM ET (5:05 AM GMT).

Across the Ocean, the crude oil prices remain on the bearish track as Saudi Arabia started the massive monthly price cuts for supply to Asia in 5-months. Also weighing on the oil prices were the fears of oversupply amid the coronavirus pandemic. Thus, the declines in oil prices undermined demand for the commodity-linked currency the loonie and contributed to the currency pair gains. 

The U.S. market could be inactive today in the wake of the U.S. labor day holiday. However, the updates on the virus and Sino-American tension will be key to watch. In the meantime, the market players will be interested in the headlines concerning the Brexit.


The USD/CAD is trading at 1.3094 level, holding right below a strong resistance level of 1.3112 level. Closing of a doji candle below 1.3112 level may trigger selling until 1.3042 level. Checkout forex trading signal below.

Entry Price – Sell 1.3099

Stop Loss – 1.3139

Take Profit – 1.3059

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

AUD/USD Set to Complete 61.8% Fibonacci Retracement – Signal Update! 

Today in the early European trading session, the AUD/USD currency pair Managed To stop Its Previous Session losing streak and drew some modest bids on the back of the upbeat China trade numbers, which came out better than forecast. Also, capping the losses could be the light calendar in Asia amid the U.S. holiday. On the contrary, the fresh risk aversion wave, triggered by the US-China renewed tussle and Brexit issue, turned out to be a major factor that kept the lid on any further gains in the currency pair. 

Today in the early European trading session, the AUD/USD currency pair Managed To stop Its Previous Session losing streak and drew some modest bids on the back of the upbeat China trade numbers, which came out better than forecast. Also, capping the losses could be the light calendar in Asia amid the U.S. holiday. On the contrary, the fresh risk aversion wave, triggered by the US-China renewed tussle and Brexit issue, turned out to be a major factor that kept the lid on any further gains in the currency pair. 

Today in the early European trading session, the AUD/USD currency pair Managed To stop Its Previous Session losing streak and drew some modest bids on the back of the upbeat China trade numbers, which came out better than forecast. Also, capping the losses could be the light calendar in Asia amid the U.S. holiday. On the contrary, the fresh risk aversion wave, triggered by the US-China renewed tussle and Brexit issue, turned out to be a major factor that kept the lid on any further gains in the currency pair. 

In the meantime, the broad-based U.S. dollar strength backed by Friday’s released upbeat U.S. jobless rate and wage growth data also kept the currency pair under pressure. The AUD/USD currency pair is currently trading at 0.7285 and consolidating in the range between 0.7270 – 0.7298.

At the data front, China’s Trade Balance for August, in Yuan terms, arrived in at CNY416.59 billion against CNY196.21 billion expected and CNY442.23 billion last. Meanwhile, August exports arrived in at +11.6% vs.+2.1% expected and +10.4% last while imports arrived at -0.5% vs. -0.7% expected and +1.6% prior. 

As far as the USD terms’ data is concerned, the headline Trade Balance improved past-$50.5B forecast to $58.9B. The Exports increased by 9.5% versus 7.1% prior, whereas Imports eased to -2.1% against +0.1% expected and -1.4% prior. However, the Chinese exports and big surplus beat initially impressed the AUD bulls and became the key factor that kept the currency pair from losses.

Elsewhere, the market risk tone has been sluggish since the day started, possibly due to the renewed conflict between the U.S. and China. The war between both parties fueled after the U.S. punished Chinese technologies and diplomats by imposing several sanctions that have repeatedly irritated the Dragon Nation. In turn, China’s Foreign Ministry advised the U.S. to stop abusing the domestic companies on the day. 

As per the keywords, “Without evidence, the U.S. has abused national power to take measures on Chinese companies.” Apart from this, previous Chinese warnings to cut the U.S. debt buying also heated up an already intensified tussle. 

Also weighed on the risk sentiment is the rising coronavirus cases in Asian and Europe, fueling worries about the global economic recovery. As per the report, the coronavirus cases crossed 27 million cases as of September 7, as per the Johns Hopkins University data. However, these fears also kept the traders cautious.

At the USD front, the broad-based U.S. dollar managed to maintain its bullish trend and remain on the day’s bullish track. However, the U.S. dollar gains were supported by the upbeat U.S. labor market report, which revealed a slipped in the unemployment rate and a rise in U.S. Treasury yields. Thus, the gains in the U.S. dollar kept the currency pair under pressure. Whereas, the U.S. Dollar Index that tracks the greenback against a basket of other currencies rose by 0.18% to 92.882 by 12:05 AM ET (5:05 AM GMT).

Looking forward, the Labor Day Holiday in the U.S. will likely restrict the market moves. Whereas, the updates on the virus and Sino-American tension could not lose its importance. In the meantime, the market players will be interested in the headlines concerning the Brexit.


The AUD/USD pair is trading sideways over an immediate support level of 0.7277 level. Closing of candles above this level may drive upward movement in the market until the 0.7325 level. A bearish breakout of 0.7276 level may drive selling until the 0.7249 level today.

Entry Price – Buy Limit 0.72463

Stop Loss – 0.72063

Take Profit – 0.72863

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

Gold Supported Over Symmetric Triangle Pattern – Quick Outlook! 

The yellow metal prices extended its Friday’s winning streak and took bids around the $1,936 level, mostly 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 Brexit and on-going tension between the U.S. and China. This, in turn, helped the gold prices to put safe-haven bids. In the meantime, the coronavirus (COVID-19) worries also keeps the market trading sentiment cautious.

The yellow metal prices extended its Friday’s winning streak and took bids around the $1,936 level, mostly 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 Brexit and on-going tension between the U.S. and China. This, in turn, helped the gold prices to put safe-haven bids. In the meantime, the coronavirus (COVID-19) worries also keeps the market trading sentiment cautious.

The yellow metal prices extended its Friday’s winning streak and took bids around the $1,936 level, mostly 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 Brexit and on-going tension between the U.S. and China. This, in turn, helped the gold prices to put safe-haven bids. In the meantime, the coronavirus (COVID-19) worries also keeps the market trading sentiment cautious.

On the contrary, the broad-based U.S. dollar strength, backed by the jobs data, which showed a dip in the unemployment rate, and a surge in U.S. Treasury yields, becomes the key factor that capping further upside momentum for the bullion. The yellow metal prices are trading at 1,928.19 and consolidating in the range between 1,927.92 – 1,941.47. However, the bullion traders seem inactive to place any strong position amid Labor Day Holiday in America.

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 has been flashing red since the week started, which ultimately keeps the safe-haven assets supportive on the day. At the Brexit front, the UK PM Boris Johnson set the October 15 deadline to trade with the European Union (E.U.). The tension was further bolstered by the Financial Times’ headlines, suggesting that the U.K. is preparing fresh legislation that will override key parts of the Brexit withdrawal agreement. These gloomy headlines initially exerted downside pressure on the market and helped the safe-haven assets. 

At the US-China front, the Sino-China tensions further bolstered after the Trump administration’s blacklisting of Beijing backed SMIC. Hopefully, this happened after China warned to cut the U.S. debt buying and threatened U.S. chipmakers while announcing a 5-year plan to build the infrastructure to be self-dependant.

However, the reasons for the downbeat trading sentiment could also be attributed to the coronavirus (COVID-19) woes, which keep disturbing the global markets. The latest figures from Australia and Texas have been normalizing, but India and Brazil are still facing major pandemic issues. In Japan, 72,203 people have tested positive as of 7:30 PM, September 5, 2020.

At the USD front, the broad-based U.S. dollar extended its early-day gains and took further bids on the day due to Friday’s job data, which showed a decline in the unemployment rate and a rise in U.S. Treasury yields. On the flip side, the data showed that U.S. employment growth slowed, and permanent job losses increased. This, in turn, capping further again in the U.S. dollar. s. Although the gains in the U.S. dollar become the key factor that kept the check on any additional gains in the bullion as the price of gold is inversely 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 92.882 by 12:05 AM ET (5:05 AM GMT).

Looking forward, the Labor Day Holiday in the U.S. will likely restrict the market moves. As well as, the updates on the virus and Sino-American tension could not lose its importance. In the meantime, the market players will be interested in the headlines concerning the Brexit.


At this movement, precious metal gold is trading sideways near 1,928, having immediate support at 1,930 and resistance at 1,940 levels. We can expect choppy trading today amid U.S. bank holidays in the wake of labor day. Neutral bias prevails in the market today. Let’s wait for gold to test the support level of 1,919. Violation of 1,919 may drive more selling until 1,903 and 1,880. Good luck!

Categories
Forex Signals

AUD/USD Stopped Losing Streak – Bullish Correction in Play!  

Today in the European trading session, the AUD/USD currency pair succeeded in stopping its previous session losses and took fresh bids above the 0.7280 level as the U.S. stock futures turned positive. The fresh gains were backed by the optimism over a potential vaccine/treatment for the highly infectious coronavirus, which eventually underpinned the perceived risk currency Australian dollar and contributed to the currency pair gains. 

Today in the European trading session, the AUD/USD currency pair succeeded in stopping its previous session losses and took fresh bids above the 0.7280 level as the U.S. stock futures turned positive. The fresh gains were backed by the optimism over a potential vaccine/treatment for the highly infectious coronavirus, which eventually underpinned the perceived risk currency Australian dollar and contributed to the currency pair gains. 

Today in the European trading session, the AUD/USD currency pair succeeded in stopping its previous session losses and took fresh bids above the 0.7280 level as the U.S. stock futures turned positive. The fresh gains were backed by the optimism over a potential vaccine/treatment for the highly infectious coronavirus, which eventually underpinned the perceived risk currency Australian dollar and contributed to the currency pair gains. 

On the contrary, the broad-based U.S. dollar ongoing strength, backed by the upsurge in the U.S. Treasury bond yields, kept a lid on additional currency pair gains. Also, capping the quote upside momentum could be the ongoing US-China tussle. The AUD/USD currency pair is currently trading at 0.7283 and consolidating in the range between 0.7251 – 0.7288. Moving on, the market traders seem reluctant to place any strong position ahead of U.S. Nonfarm Payrolls.

It is worth recalling that the market trading sentiment was supported by optimism over a possible vaccine and treatment for the highly infectious coronavirus. Also, supporting the trading sentiment factor could be the ongoing chatters between the House of Speak Nancy Pelosi and Treasury Secretary Steve Mnuchin concerning the U.S. stimulus package. Tthe House of Speak Nancy Pelosi and Treasury Secretary Steve Mnuchin agreed on the stop-gap funding before the current bill expires on September 30. Also supporting the upticks in U.S. stocks future could be the Fed policymakers’ clears view of keeping the monetary policy easy and without doubt, unlike others. In turn, this underpinned the perceived risk currency Australian dollar and extended some support to the currency pair.

On the contrary, the renewed conflict between the U.S. and China fueled after the Dragon Nation warned the U.S. to cut its American debt holdings. This step has taken by China after the Trump administration announced extra hardships for Beijing diplomats. This eventually exerted downside pressure on the trading sentiment and capped further upside momentum in the U.S. stock futures.

At the USD front, the broad-based U.S. dollar succeeded in gaining positive traction and edged higher on the day amid mixed sentiment. The U.S. dollar gains were further bolstered by the ongoing upsurge in the U.S. Treasury bond yields. However, the U.S. dollar’s modest gains became the major factor that capped the pair’s upside momentum. Whereas, the U.S. Dollar Index Futures that tracks the greenback against a bucket of currencies inched up at 92.47 by 10:23 PM ET (2:23 AM GMT).

Moving on, the August month’s employment data for the U.S., which is scheduled to release at 12:30 GMT, will be key to watch on the day. The headline U.S. Nonfarm Payrolls (NFP) data is expected to drop to 1400K against 1763K prior, while the Unemployment Rate may fall from 10.2% previous to 9.8%. As well as, the coronavirus (COVID-19) updates, U.S. stimulus news, and the US-China tensions could not lose their importance on the day.


The AUD/USD pair traded distinctly bearish to linger at 0.7268 mark, achieving critical support at 0.7250 and resistance at 0.7277. Breach of this area may define the next move in the AUD/USD pair. On the higher side, the AUD/USD pair may encounter resistance at 0.7340 and support at 0.7225. The trend will be concluded following the announcement of NFP figures later through the U.S. session. 

Entry Price – Buy 0.7285

Stop Loss – 0.7245

Take Profit – 0.7325

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

AUD/USD Bullish Correction Completed – Brace for Selling! 

The AUD/USD failed to stop its previous session losing streak and dropped below 0.7300 level due to the broad-based U.S. dollar strength, buoyed by the Tuesday’s better-than-expected U.S. manufacturing data. Also weighing on the currency pair was the downbeat data from Australia and China. On the contrary, the market risk-on sentiment, supported by the vaccine hopes and hopes of further U.S. stimulus, becomes the key factor that helped the currency pair limit its deeper losses. 

The AUD/USD failed to stop its previous session losing streak and dropped below 0.7300 level due to the broad-based U.S. dollar strength, buoyed by the Tuesday’s better-than-expected U.S. manufacturing data. Also weighing on the currency pair was the downbeat data from Australia and China. On the contrary, the market risk-on sentiment, supported by the vaccine hopes and hopes of further U.S. stimulus, becomes the key factor that helped the currency pair limit its deeper losses. 

The AUD/USD failed to stop its previous session losing streak and dropped below 0.7300 level due to the broad-based U.S. dollar strength, buoyed by the Tuesday’s better-than-expected U.S. manufacturing data. Also weighing on the currency pair was the downbeat data from Australia and China. On the contrary, the market risk-on sentiment, supported by the vaccine hopes and hopes of further U.S. stimulus, becomes the key factor that helped the currency pair limit its deeper losses. 

At the press time, the AUD/USD is currently trading at 0.7302 and consolidating between 0.7297 and 0.7340. Moving on, the currency pair may find some support as the ongoing rally in the U.S. dollar seems to be short-lived as the doubts remain about the U.S. economic recovery amid the weaker than expected ADP report. Australia’s July month Trade Balance registered another fundamental disappointment for the Australian policymakers. Australia’s July month Trade Balance dropped below 5400M flash forecasts and 8202M prior to the data front. Details suggest that the Imports increased past-1.0% to 7.0% while Exports fell to -4.0% from +3.0% prior.

Across the ocean, China’s Caixin Services PMI rose to 54.00 versus 50.4 expected and 54.1 before August. The same push the composite PMI data to 55.1 versus 54.5 prior. As a result of mixed data from the Aussie and China, the AUD/USD currency pair extends its bearish trajectory for the 3rd-day in a row.

However, the reason for the risk-on market sentiment could be associated with the probabilities of further stimulus and hopes of the coronavirus (COVID-19) vaccine, which tends to underpin the perceived risk currency Australian dollar and helps the pair to limit its deeper losses. It is worth reporting that the AstraZeneca continues its final tests for the coronavirus vaccine. Meanwhile, around 76 rich countries, the global policymakers join to help for the vaccine developments and distribution.

On the contrary, the two biggest economies are at loggerheads after the latest headlines concerning additional sanctions on China diplomats by the U.S. Also fueling the tussle could be the reports suggests Beijing’s embassy in America criticized harshly by the U.S. However, these gloomy headlines could also be considered as the key factor that has been weighed on the Aussi pair.

Despite the risk-on market sentiment and downbeat U.S. data, the broad-based U.S. dollar flashing green on the day supported by Tuesday better-than-expected PMI data, which fueled the hopes of the U.S. economy. However, the U.S. dollar’s bullish bias could be short-lived as doubts remain about the U.S. economic recovery amid Wednesday weaker than expected ADP report. However, the gains in the U.S. dollar became the key factor that kept the currency pair lower. Whereas, the U.S. Dollar Index that measures the greenback against a bucket of 6-major currencies rose by 0.03% to 92.977.

Looking ahead, the market traders will keep their eyes on final German and Eurozone PMI readings, which is scheduled for release on the day. As well as, the Friday’s Nonfarm Payrolls (NFP) will also be key to watch. In the meantime, the updates surrounding the fresh Sino-US tussle, this time over the South China Sea, and the coronavirus (COVID-19) updates, could not lose their importance.


The AUD/USD is trading at 0.7317, having violated the double bottom support level of 0.7337 level. Closing of candles below this level may drive sharp selling until 0.7289 and even below this until 0.7275. Conversely, a bullish crossover of 0.7369 may drive intense buying until the 0.7385 level. Bearish bias may dominate today.

Entry Price – Sell 0.7296

Stop Loss – 0.7336

Take Profit – 0.7256

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

Are Free Forex Signals Really Reliable?

A trading signal is a short message that you might receive via email, text message, alert notification, tweet, or other communication methods. The message contains information about making a trade and is meant to aid traders and might mention a specific time and price to enter a trade on a currency pair. 

A trading signal is a short message that you might receive via email, text message, alert notification, tweet, or other communication methods. The message contains information about making a trade and is meant to aid traders and might mention a specific time and price to enter a trade on a currency pair. 

A trading signal is a short message that you might receive via email, text message, alert notification, tweet, or other communication methods. The message contains information about making a trade and is meant to aid traders and might mention a specific time and price to enter a trade on a currency pair. 

“Free forex signals” is one of the most Googled questions by forex traders. The main reason for the signal’s popularity is that it can save you time, which is especially useful for traders with full-time jobs or other responsibilities that take away from the time they can dedicate to trading. Beginners can benefit as well, as finding a good signal provider can be a lifesaver if one is having a hard time making profitable trading decisions. 

You’re probably wondering how much it costs to use these forex signals or if they even work at all. The truth is that there are some paid signals out there, but many providers will allow you to use their signals for free. This might seem a little off – after all, we’ve all heard the saying that “nothing is ever free”. Fortunately, there are other forex traders out there that want to help you. Many traders that have achieved success like to help other traders by passing on advice, creating trading signals, writing books that contain knowledge they’ve learned, sharing secrets they’ve uncovered, and so on. In some cases, you’ll be able to use the services indefinitely for free. In other cases, you might be able to use the service for free through a free trial before being asked to pay. 

When it comes to reliability, you do want to choose your signal provider wisely. Know that free signal providers usually offer some of these features:

  • The entry/exit/stop loss figures for one or more currency pairs.
  • Graphs or other evidence that supports the provided signals.
  • Trading history that might include profits and losses per month, risk/reward ratios, and so on.
  • The ability to speak to or be coached by the provider upon request.

Once a signal has been generated, it is the trader’s decision to choose whether to take the advice or to avoid it. If you receive a signal that doesn’t seem like a good idea, simply ignoring it is the safer option. Online reviews of free forex signals are mixed, but this isn’t surprising. Some traders have had good luck using these services, while others have lost a lot of money. 

If you want to receive reliable signals, you can’t go with the first service provider you find, especially if those services are entirely free. Fortunately, it’s easy to research a potential signal provider online. Check out social media and online reviews for a more realistic look at what you should expect. Never rely solely on reviews or testimony that is listed on the provider’s website, as the very best comments are usually displayed, or you might even be reading something that was written by the provider themselves. This is why second-party review sites and social media reviews give the most honest results. 

Free forex signals can be reliable, as long as you do your research before choosing a signal provider. If you receive an alert with information about a trade that you don’t think you should take, you can simply ignore that signal and wait for the next one. If you choose a provider that provides a few bad signals in a row, it’s best to move on to a different provider with better reviews online to try for better results. Choosing a signal provider is very much like choosing a broker – there are scammers out there, but careful consideration and research can help ensure that you make a trustworthy choice.

Categories
Forex Signals

USD/JPY Violates Symmetric Triangle Pattern – Buy Signal in Play! 

The USD/JPY has violated the ascending triangle pattern at 106.08 level, and it may head further higher until the next target level of 106.500 level. On the data front, at 04:30 GMT, the Unemployment Rate from Japan dropped to 2.9% from the expected 3.0% in July and supported the Japanese Yen. At 04:50 GMT, the Capital Spending from Japan dropped by -11.3% against the estimated -4.0% and weighed heavily on the Japanese Yen. At -5:30 GMT, the Final Manufacturing PMI for August from Japan expanded to 47.2 against the projected 46.6 and supported the Japanese Yen.

The USD/JPY has violated the ascending triangle pattern at 106.08 level, and it may head further higher until the next target level of 106.500 level. On the data front, at 04:30 GMT, the Unemployment Rate from Japan dropped to 2.9% from the expected 3.0% in July and supported the Japanese Yen. At 04:50 GMT, the Capital Spending from Japan dropped by -11.3% against the estimated -4.0% and weighed heavily on the Japanese Yen. At -5:30 GMT, the Final Manufacturing PMI for August from Japan expanded to 47.2 against the projected 46.6 and supported the Japanese Yen.

The USD/JPY has violated the ascending triangle pattern at 106.08 level, and it may head further higher until the next target level of 106.500 level. On the data front, at 04:30 GMT, the Unemployment Rate from Japan dropped to 2.9% from the expected 3.0% in July and supported the Japanese Yen. At 04:50 GMT, the Capital Spending from Japan dropped by -11.3% against the estimated -4.0% and weighed heavily on the Japanese Yen. At -5:30 GMT, the Final Manufacturing PMI for August from Japan expanded to 47.2 against the projected 46.6 and supported the Japanese Yen.

The strong data from Japan supported the safe-haven Japanese Yen and weighed on the USD/JPY pair that kept the currency pair’s gains on Tuesday. Meanwhile, from the U.S. side, the Final Manufacturing PMI in August dropped to 53.1 from the anticipated 53.6 and weighed on the U.S. dollar. Whereas, the highly awaited ISM Manufacturing PMI for August that was released at 19:00 GMT, advanced to 56.0 against the estimated 54.6, and supported the U.S. dollar that helped the USD/JPY pair’s bullish trend on Tuesday.

Moreover, the Construction Spending from the U.S. in July declined to 0.1% from the expected 1.0% and weighed on the U.S. dollar. The ISM Manufacturing Prices in August increased to 59.5 from July’s 53.2. The Wards Total Vehicle Sales from the U.S. came in as 15.2M against the expected 15M and supported the U.S. dollar added in the gains of USD/JPY.


Furthermore, on Tuesday, the U.S. dollar also gained some traction after the comment from the Fed Governor Lael Brainard, who said that to overcome the impact of coronavirus from the economy, the central bank would have to roll out new efforts. She also said that the Fed should adopt an aggressive approach to live up to its promise of stronger job growth and higher inflation. She also stressed the important role massive asset purchases would play in achieving the new policy shift’s targeted goals.

The USD/JPY prices may continue to trade higher until the 106.550 level. The pair has violated the ascending triangle pattern at 106, and above this, the USD/JPY may trade bullish. The MACD and RSI are both suggesting a buying trend. Let’s consider taking buying trade today. 

Entry Price – Buy 106.199

Stop Loss – 105.799

Take Profit – 106.599

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

USD/CHF Enters Overbought Zone – Brace for Selling Signal! 

Today in the early European trading session, the USD/CHF currency pair successfully stopped its previous day bearish moves and hit the 1-1/2-week high level around the 0.9135 level in the last hour. However, the combination of factors helped the currency pair to gain positive traction for the 2nd-consecutive session on the day. The broad-based US dollar strength (supported by the US data’s upbeat release showed that the manufacturing sector activity boosted to a 2-year high in August) could be considered the key factor in supporting the currency pair. 

Today in the early European trading session, the USD/CHF currency pair successfully stopped its previous day bearish moves and hit the 1-1/2-week high level around the 0.9135 level in the last hour. However, the combination of factors helped the currency pair to gain positive traction for the 2nd-consecutive session on the day. The broad-based US dollar strength (supported by the US data’s upbeat release showed that the manufacturing sector activity boosted to a 2-year high in August) could be considered the key factor in supporting the currency pair. 

Today in the early European trading session, the USD/CHF currency pair successfully stopped its previous day bearish moves and hit the 1-1/2-week high level around the 0.9135 level in the last hour. However, the combination of factors helped the currency pair to gain positive traction for the 2nd-consecutive session on the day. The broad-based US dollar strength (supported by the US data’s upbeat release showed that the manufacturing sector activity boosted to a 2-year high in August) could be considered the key factor in supporting the currency pair. 

On the other hand, the prevalent risk-on market mood, backed by the multiple factors, undermined the safe-haven Swiss franc and contributed to the USD/CHF currency pair gains. On the contrary, the US aid package’s uncertainty keeps challenging the risk-on tone, which could drag the currency pair down by underpinning the safe-haven demand in the market. Currently, the USD/CHF currency pair is currently trading at 0.9103 and consolidating in the range between 0.9089 – 0.9137.

The upbeat data from key countries like the US, China, and Japan, have remained supportive of its positive tone. The US upbeat data rekindled hopes of the US economic recovery, which lead to a goodish pick up in the US Treasury bond yields. In turn, this underpinned the US dollar and remained supportive of the bid tone surrounding the USD/CHF currency pair.

At the data front, the August’s ISM Manufacturing Purchasing Managers Index (PMI) increased to 56, against July’s reading of 54.2 and the 54.5 forecasts. A surge in new orders recorded the index climb to its multi-year high. At China’s front, the Caixin manufacturing PMI for August increased to 53.1 from 52.8 in July. Likewise, Japan’s manufacturing PMI rose to 47.2 in August from 45.2.

The broad-based US dollar at the USD front managed to keep its gains throughout the Asian session as the traders still cheering the Upbeat US data. However, the US dollar gains seem rather unaffected by the upbeat market tone and held its gaining streak, at least for now. Thus, the US dollar’s modest gains could be considered the major factor that kept the currency pair higher. Whereas, the dollar index (=USD) rose by 0.16% at 92.390, having hit its lowest since April 2018 of 91.737. However, probabilities that the Fed would keep interest rates lower for longer periods could cap the further gains in the US dollar by holding the USD bulls from placing aggressive bets.

Apart from this, the upbeat market sentiment was being supported by the hopes of the coronavirus (COVID-19) vaccine. The pharmaceutical companies worldwide are going to start their final tests with one of the top candidates developed by AstraZeneca beginning its trials starting from today. This, in turn, boosted the market trading sentiment and extended support to the currency pair.

On the negative side, the on-going conflict between the world’s two largest economies still does not show any sign of slowing down as both nations do not refrain from delivering an aggressive statement. However, the latest US Secretary of State Mike Pompeo’s latest comments further heated the relation, which could be considered the key factor that capped further upside momentum in the currency pair.

The traders will also keep their eyes on the US ADP Employment Change for August, which is expected 950K against 167K prior. Across the pond, the major comments from BoJ’s Wakatabe will be key to watch.


The USD/CAD is trading at 0.9118, holding right below an immediate resistance at 0.9136 level. On the lower side, the USD/CAD may drop further to complete 38.2% Fibonacci retracement at 0.9080 and even further lower until 61.8% Fibonacci retracement at 0.9060 level. 

Entry Price – Sell 0.91063
Stop Loss – 0.91463
Take Profit – 0.90663
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

AUDUSD Breaks Down an Ascending Wedge

Description

Description

Description

The AUDUSD pair, in its hourly chart, exposes a downward sequence after surpassed the psychological barrier of 0.74 on the Tuesday trading session. In the same way, the re-test and bounce of the U.S. Dollar index at 91.75, the lowest level since mid-May 2018, lead us to expect further movement in favor of the Greenback for the following trading sessions.

From the next chart, we observe a downward movement after the breakdown of an ascending wedge pattern. The consolidation below the last relevant swing at 0.7365(blue box) and the RSI oscillator moving below level 40 confirms the intraday bearish bias that should lead the coming sessions.

The movement below the level 0.7365 carries us to weight bearish positions expecting intraday profits at 0.7310, which corresponds to the last consolidation level of August 28th.

Our invalidation level is located at 0.7392, which corresponds to the first congestion zone after the first drop of the ascending wedge pattern.

Chart

Trading Plan Summary

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Forex Signals

Bullish EUR/JPY Setup Reverses – Quick Update on Manually Closed Signal! 

The EUR/JPY is trading at 126.700 level, reversing below an immediate resistance level of 127.073. The closing of candles below 127 level is likely to drop until 126.450 level. The single currency Euro could be the reports that suggested that Germany avoided a sub-zero inflation print in August despite the negative base effect from low energy prices and VAT cut, which eventually gave support to the shared currency. 

The EUR/JPY is trading at 126.700 level, reversing below an immediate resistance level of 127.073. The closing of candles below 127 level is likely to drop until 126.450 level. The single currency Euro could be the reports that suggested that Germany avoided a sub-zero inflation print in August despite the negative base effect from low energy prices and VAT cut, which eventually gave support to the shared currency. 

The EUR/JPY is trading at 126.700 level, reversing below an immediate resistance level of 127.073. The closing of candles below 127 level is likely to drop until 126.450 level. The single currency Euro could be the reports that suggested that Germany avoided a sub-zero inflation print in August despite the negative base effect from low energy prices and VAT cut, which eventually gave support to the shared currency. 

In the meantime, the Spanish Economy Minister Nadia Calvino’s positive comments about the Spanish economy also underpinned the single currency and contributed to the currency pair gains. As per the keywords, “The economy is expanding currently at a pace of more than 10% in the 3rd-quarter”. He further added, “Spanish banking sector is solvent.” However, the single currency cheered the Spanish economy’s upbeat outlook, as the EUR/USD pair set to beak 1.20 level.

On the contrary, the number of coronavirus cases increased to 242,381, while the total number of deaths reached 9,298. Whereas, the cases rose by 610 in Germany yesterday as per the German disease and epidemic control center, Robert Koch Institute (RKI) report. The coronavirus fears could be considered the key factor that cap further upside momentum for the currency pair.

Across the ocean, the on-going Japanese political uncertainty failed to give any major support to the currency, at least for now. Japan’s ruling Liberal Democratic Party (LDP) General Council Chairman Shunichi Suzuki stated that leadership would be conducted in a simplified rather than full-scale format respecting the urgency. This looming uncertainty initially weighed on the Japanese yen currency and gave some support to the major, but the support was short-lived as the US dollar continues losing its ground and becomes the major factor that keeps the currency pair down.


We opened a buy trade in the EUR/JPY currency pair at 126.94 with a stop loss of 127.34 and take a profit of 126.54. But the recent Doji candles below 127 level may cause a bearish reversal. Therefore, we decided to close the trade a bit early before it reverses the other way. Anyways, we can look for buying trade again around 126.250 level. Stay tuned, good luck! 

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Forex Signals

USD/CAD Bouncing Off Support – Downward Channel Pressures!

During Tuesday’s European trading session, the USD/CAD currency pair extended its early-day losses and dropped to the intra-day low below the mid-1.3000 level, mainly due to the broad-based U.S. dollar weakness. The U.S. dollar was down over bets on continuous low U.S. Rates. The U.S. Federal Reserve’s introduced a new policy framework on August 28, which fueled speculations that rates in the U.S. will continue to remain low. This, in turn, undermined the greenback and contributed to the currency pair losses.

During Tuesday’s European trading session, the USD/CAD currency pair extended its early-day losses and dropped to the intra-day low below the mid-1.3000 level, mainly due to the broad-based U.S. dollar weakness. The U.S. dollar was down over bets on continuous low U.S. Rates. The U.S. Federal Reserve’s introduced a new policy framework on August 28, which fueled speculations that rates in the U.S. will continue to remain low. This, in turn, undermined the greenback and contributed to the currency pair losses.

During Tuesday’s European trading session, the USD/CAD currency pair extended its early-day losses and dropped to the intra-day low below the mid-1.3000 level, mainly due to the broad-based U.S. dollar weakness. The U.S. dollar was down over bets on continuous low U.S. Rates. The U.S. Federal Reserve’s introduced a new policy framework on August 28, which fueled speculations that rates in the U.S. will continue to remain low. This, in turn, undermined the greenback and contributed to the currency pair losses.

The reason for the sharp declines in the currency pair could also be attributed to the mild gains in the crude oil prices, which underpinned the commodity-linked currency, the Loonie, and contributed to the currency pair’s declines. The USD/CAD currency pair is currently trading at 1.2999 and consolidating between 1.2993 – 1.3048.

Despite the US-China tussle, the global market risk sentiment remained well supported by optimism over a possible coronavirus vaccine. Besides this, the positive comments from the American Treasury Secretary Steve Mnuchin boosted the hopes of the U.S. stimulus package, which also exerted a positive impact on the trading sentiment and made the U.S. dollar unable to put any safe-haven bids.

At the USD front, the broad-based U.S. dollar remained depressed as the investors continue to sell U.S. dollars on the dovish Fed’s back. The Federal Reserve’s new policy structure keeps the doors open that interest rates in the U.S. will continue to remain low compared to other countries, which support the U.S. dollar under pressure. The losses in the U.S. dollar kept the currency pair lower. As a result, the U.S. dollar hit the 28-month low while declined to 91.99 despite the Dallas Fed Manufacturing Business Index growing beyond -3 to +11 in August. Whereas, the U.S. Dollar Index Futures that tracks the greenback against a bucket of other currencies dropped by 0.21% to 91.938 by 10:07 PM ET (3:07 AM GMT).

Moving forward, the market traders will keep their eyes on August’s U.S. manufacturing activity data, which is a schedule` to be released later in the day. The U.S. durable goods and employment data will also be key to watch. In the meantime, the updates surrounding the fresh Sino-US tussle, this time over the South China Sea, and the coronavirus (COVID-19) updates, could not lose their importance.


The USD/CAD is trading at 1.3009 level, having violated the support level of 1.3050 support level, which is now working as a resistance. On the lower side, the pair is likely to find support at 1.2975 level. The USD/CAD can drop further until the next support area of 1.2975 level. The MACD and RSI are also supporting selling, while 50 periods EMA also suggests a selling trend in the USD/CAD pair. Let’s consider selling below 1.3050 level today. Keep following Forex. Academy for quick trading signals. Good luck!

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Forex Signals

USD/JPY Heads for 61.8% Fibonacci Retracement 

During Monday’s European trading session, the USD/JPY currency pair extended its previous session gains. They remained closer to 106.00 level due to the risk-on market tone, backed by the enthusiasm over a potential vaccine and medicine for the extremely contagious coronavirus disease. As well as, the better-than-expected Chinese Manufacturing and Services PMI data also played its positive role in underpinning the market tone, which eventually weakened the demand for the safe-haven Japanese yen. The receding worries over the Japanese political scenario could also be another factor involved in currency pair losses. 

During Monday’s European trading session, the USD/JPY currency pair extended its previous session gains. They remained closer to 106.00 level due to the risk-on market tone, backed by the enthusiasm over a potential vaccine and medicine for the extremely contagious coronavirus disease. As well as, the better-than-expected Chinese Manufacturing and Services PMI data also played its positive role in underpinning the market tone, which eventually weakened the demand for the safe-haven Japanese yen. The receding worries over the Japanese political scenario could also be another factor involved in currency pair losses. 

During Monday’s European trading session, the USD/JPY currency pair extended its previous session gains. They remained closer to 106.00 level due to the risk-on market tone, backed by the enthusiasm over a potential vaccine and medicine for the extremely contagious coronavirus disease. As well as, the better-than-expected Chinese Manufacturing and Services PMI data also played its positive role in underpinning the market tone, which eventually weakened the demand for the safe-haven Japanese yen. The receding worries over the Japanese political scenario could also be another factor involved in currency pair losses. 

On the contrary, the broad-based U.S. dollar weakness, triggered by the risk-on market sentiment and downbeat prints of America’s Core PCE data, became the key factor that capped further upside momentum for the currency pair. In the meantime, the mixed Japan data was largely ignored by the currency pair bulls. At this moment, the USD/JPY currency pair is currently trading at 105.92 and consolidating in the range between 105.30 – 105.97.

At the data front, the preliminary Industrial Production climbed significantly past-1.2% forecast and 1.9% before print the 8.0% mark on MoM. Meanwhile, the annual figures were downbeat as 16.1% contraction against -15.7% expected. Moreover, Retail Sales fell 3.3% on MoM and 2.8% on YoY against 8.0% and 2.4% respective forecasts.

Apart from this, the reason for the upbeat market sentiment could be associated with the release of better-than-expected Chinese Manufacturing and Services PMI prints, which eventually raised hopes about the global recovery from the pandemic. However, the risk sentiment was further bolstered by the headlines that suggested a rush towards a vaccine. Besides this, the U.S. stimulus package’s probabilities also boosted the risk sentiment, which tends to weaken the safe-haven Japanese yen. The opposition Democratic Party voted in the favor to take a $1.3 trillion offer, which kept the market traders satisfied. On the contrary, the market trading sentiment relatively unaffected by the long-lasting US-China tussle. 

Also supporting the market risk-tone was Powell’s new monetary policy framework, which fueled expectations of an extended period of low-interest rates and weighed on the U.S. dollar.

As a result of the upbeat market sentiment, the broad-based U.S. dollar failed to gain any positive traction on the day. The losses could also be associated with the Fed Chair Jerome Powell’s dovish signals at the Jackson Hole Symposium. However, the losses in the U.S. dollar became the key factor that kept the currency pair’s gain limited. Whereas, the U.S. Dollar Index that tracks the greenback against a basket of other currencies dropped by 0.09% to 92.293 on the day.

 

Looking ahead, the market traders will keep their eyes on the speech by Federal Reserve Governor Richard Clarida. Japan’s Final Manufacturing PMI will also be key to watch. In the meantime, the updates surrounding the fresh Sino-US tussle, this time over the South China Sea and the coronavirus (COVID-19) updates, could not lose their importance.


The USD/JPY is trading with a bullish bias at 106; it’s expected to trade higher until 50% and 61.8% Fibonacci retracement at 106.100 and 106.300 levels. The MACD is also a signaling buying trend in the USD/JPY pair. We have already closed the buying signal in green pips as the market is lacking volatility. Let’s brace to buy again over 105.740 level today. Good luck! 

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Forex Signals

Gold Winning Signal Ends at Stop Loss – What’s Next? 

The precious metal gold prices were closed at 1953.90 after placing a high of 1954.86 and a low of 1902.53. Overall the movement of gold remained bullish throughout the day. After posting losses remaining flat from 3 consecutive days, gold prices rose on Wednesday by 2% on the back of US dollar weakness on the eve of a speech from the Federal Reserve Chairman Jerome Powell. Investors were betting on a further stimulus package to diminish the impact of coronavirus pandemic.

The precious metal gold prices were closed at 1953.90 after placing a high of 1954.86 and a low of 1902.53. Overall the movement of gold remained bullish throughout the day. After posting losses remaining flat from 3 consecutive days, gold prices rose on Wednesday by 2% on the back of US dollar weakness on the eve of a speech from the Federal Reserve Chairman Jerome Powell. Investors were betting on a further stimulus package to diminish the impact of coronavirus pandemic.

The precious metal gold prices were closed at 1953.90 after placing a high of 1954.86 and a low of 1902.53. Overall the movement of gold remained bullish throughout the day. After posting losses remaining flat from 3 consecutive days, gold prices rose on Wednesday by 2% on the back of US dollar weakness on the eve of a speech from the Federal Reserve Chairman Jerome Powell. Investors were betting on a further stimulus package to diminish the impact of coronavirus pandemic.

The US dollar was weak on the board as the traders were placing bids on the hopes and expectations that there was a further stimulus to come. The US Dollar Index (DXY) eased by about 0.1% against the six major currencies basket and made gold cheaper for investors holding other currencies. The Chairman of Federal Reserve, Jerome Powell, will speak at a virtual Jackson Hole symposium on Thursday, at the central bank’s annual Monetary Policy Framework Review.

The speech is highly awaited because investors believe that it will make a case for stronger monetary stimulus to help the economy. The speech will also give clues about Fed finding additional ways to bolster the economy if Congress fails to deliver on a new pandemic relief package.

Ahead of the September monetary policy meeting of Federal Reserve, the question remained on cards that whether Powell will favor shifting inflation target to an average instead of the long-favored 2% level. It is because such a shift will allow inflation to run higher before interest rates increased. In this situation, the US dollar will become weak, and gold will gain.

The Fed Chair’s speech’s rising dovish expectations on the next day weighed on the local currency and helped bullions to post gains. However, if Powell will deliver the expected comments, then gold could quickly recapture the $2000 level this week.

On the other hand, the gold prices were further supported by the rising safe-haven appeal after the US & China’s escalated tensions. On Wednesday, the US penalized 24 Chinese companies, and the Trump Administration cut them off from the American market, saying that they had contributed to China’s controversial island-building campaign.

The companies were added to the government list that bans them from buying American products. The reason was provided as their role in helping the Chinese military to construct artificial islands in the disputed South China Sea.

On the vaccine front, the top US virus expert Dr. Anthony Fauci warned against rushing out a COVID-19 vaccine before proven effective and safe. He said that it could hurt the development of other vaccines.

US President Donald Trump has been considering plans to put out a vaccine before it has been fully tested because a move like this would increase his chances of re-election in November’s presidential election. Democrats have accused Trump foe being prepared to endanger American lives for political gain.

The warning by Dr. Fauci faded some of the risk appetites from the market and added in the gains of gold prices on Wednesday.

Meanwhile, the gains in yellow metal were checked by the positive economic data from the US. At 17:30 GMT, the Core Durable Goods Orders rose in July to 2.4% from the expected 1.9% and supported the US dollar. The Durable Goods Orders in July also rose to 11.2% from the estimated 4.4% and supported the US dollar. The better than expected US economic data on Wednesday caped additional gains in yellow metal prices.


The precious metal gold soared sharply after testing the support level of 1,902 level to place a high around 1,955. The precious metal has closed a bearish engulfing candle on the 4-hour timeframe and may drive selling bias in gold. Gold can drop until 38.2% Fibonacci retracement level, which stays at 1,934 and 61.8% Fibo level of 1,922. Resistance stays at 1,954 and 1,965. The market is currently trading with massive volatility amid Fed Chair Pawell’s speech. Since our trade is closed at stop loss, let’s wait a bit for the market to gain stability before taking the next trade. Good luck! 

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Forex Signals

Gold On Fire – Two Winning Forex Trading Signals Closed! 

The yellow metal prices failed to maintain its early-day modest gains and dropped from the $1,932.48 to 1,924.20 level due to the broad-based U.S. dollar modest strength, backed by the downbeat market trading sentiment. However, the gains in the U.S. dollar could be short-lived as the doubts over the U.S. economy persists. On the other hand, the previous market optimism over the coronavirus (COVID-19) vaccine/treatment was overshadowed by the latest disappointing U.S. data. As in result, the market trading sentiment turned negative, which eventually might help the gold prices to limit its deeper losses. 

The yellow metal prices failed to maintain its early-day modest gains and dropped from the $1,932.48 to 1,924.20 level due to the broad-based U.S. dollar modest strength, backed by the downbeat market trading sentiment. However, the gains in the U.S. dollar could be short-lived as the doubts over the U.S. economy persists. On the other hand, the previous market optimism over the coronavirus (COVID-19) vaccine/treatment was overshadowed by the latest disappointing U.S. data. As in result, the market trading sentiment turned negative, which eventually might help the gold prices to limit its deeper losses. 

The yellow metal prices failed to maintain its early-day modest gains and dropped from the $1,932.48 to 1,924.20 level due to the broad-based U.S. dollar modest strength, backed by the downbeat market trading sentiment. However, the gains in the U.S. dollar could be short-lived as the doubts over the U.S. economy persists. On the other hand, the previous market optimism over the coronavirus (COVID-19) vaccine/treatment was overshadowed by the latest disappointing U.S. data. As in result, the market trading sentiment turned negative, which eventually might help the gold prices to limit its deeper losses. 

On the contrary, the on-going optimism related to the US-China trade deal talks remained supportive of the market trading tone that stopped the bullion’s gains. The global economic recovery from COVID-19 turned gloomy after the disappointing U.S. data. At the data front, the August’s Conference Board (C.B.) consumer confidence index dropped to 84.8, it was the lowest level since May 2014, with COVID-19-induced high unemployment contributing to the fall. The data was much weaker than the expected of 93 and was also weaker than July’s figures of 91.7. This data exerted some downside pressure on the market trading sentiment and provided some support to the safe-haven asset.

However, the equity market has started to flash red since the U.S. data released, but the equity market losses were very modest and temporary as the US-China trade optimism helped the market trading tone. The U.S. and Chinese leaders affirmed their commitment to their phase one trade deal on Monday that capped the yellow metal gains. But, both the US-China continued to disagree on other issues that might keep the market cautious. As we all know, the U.S. policymakers have not yet confirmed that when they will start negotiating the COVID-19 aid package. However, the hurdles over the box remain on the card amid multiple differences between both parties.

Also weighing on the safe-haven metal prices could be the reports that suggested the disappearing coronavirus (COVID-19) numbers from the U.S. and Australia. In turn, this decreased the safe-haven demand in the market and kept the gold prices under pressure. Moreover, the U.K. government’s funding for the University of Cambridge’s COVID-19 vaccine trials after the American rush for the pandemic’s cure also kept traders hopeful as treating the deadly virus likely to release soon.

Despite the downbeat U.S. data, the broad-based U.S. dollar extended its early bullish trend on the day amid mixed sentiment in the market. However, the modest gains in the U.S. dollar kept the gold prices under pressure as the price of gold is inversely related to the price of the U.S. dollar. Whereas, the U.S. Dollar Index that tracks the greenback against a bucket of other currencies rose 0.05% to 93.062 by 10:15 PM ET (3:15 AM GMT).

Be it the trade/virus updates or the USD moves, not forget the U.S. Durable Goods Orders; these all catalysts will grab the major attention and impact the currency pair. As well as, the traders are keenly awaiting the global central bankers’ comments from the Jackson Hole Symposium, up for Thursday and Friday.


Earlier today, we managed to close two winning signals on gold, and fortunately, we came out of the market a bit early before gold started reversing over the double bottom area of 1,907. The precious metal gold is now trading at 1,937 level, exhibiting a solid bullish turn, and it may find an immediate resistance at 1,938 level. Closing of candles below 1,938 levels may help us secure a quick selling in gold. Elsewhere, the XAU/USD pair may continue to rise until the 1,956 level. Good luck! 

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Forex Signals

Hard luck with GBP/USD Signal – Sudden Spike Hit Stop Loss! 

The GBP/USD managed to extend its early-day gains and drew some bids on the day essentially due to the broad-based U.S. dollar instability, triggered by the market upbeat trading sentiment. Besides this, the long-lasting deadlock surrounding the much-awaited U.S. fiscal stimulus also weighed on the safe-haven U.S. dollar and contributed to the currency pair gains. On the contrary, the long-term Brexit woes became the key factor that kept the lid on any additional gains in the currency pair. Also, the Brexit fears overshadowed British business houses’ optimism, as shown by the government data. At this particular time, the GBP/USD currency pair is currently trading at 1.3085 and consolidating in the range between 1.3054 – 1.3115.

The GBP/USD managed to extend its early-day gains and drew some bids on the day essentially due to the broad-based U.S. dollar instability, triggered by the market upbeat trading sentiment. Besides this, the long-lasting deadlock surrounding the much-awaited U.S. fiscal stimulus also weighed on the safe-haven U.S. dollar and contributed to the currency pair gains. On the contrary, the long-term Brexit woes became the key factor that kept the lid on any additional gains in the currency pair. Also, the Brexit fears overshadowed British business houses’ optimism, as shown by the government data. At this particular time, the GBP/USD currency pair is currently trading at 1.3085 and consolidating in the range between 1.3054 – 1.3115.

The GBP/USD managed to extend its early-day gains and drew some bids on the day essentially due to the broad-based U.S. dollar instability, triggered by the market upbeat trading sentiment. Besides this, the long-lasting deadlock surrounding the much-awaited U.S. fiscal stimulus also weighed on the safe-haven U.S. dollar and contributed to the currency pair gains. On the contrary, the long-term Brexit woes became the key factor that kept the lid on any additional gains in the currency pair. Also, the Brexit fears overshadowed British business houses’ optimism, as shown by the government data. At this particular time, the GBP/USD currency pair is currently trading at 1.3085 and consolidating in the range between 1.3054 – 1.3115.

The coronavirus vaccine hopes were supporting the market trading sentiment. The U.S. Food & Drug Administration (FDA) authorized the use of blood plasma from recovered patients as a treatment option, which eventually overshadowed the fears of rising coronavirus cases in Asia and Europe. Apart from this, the Moderna (NASDAQ: MRNA) ‘s press release on Monday, saying that the Cambridge, MA-based company is in “advanced exploratory discussions with the E.U. Commission to supply 80 million doses of mRNA-1273, Moderna’s vaccine candidate against COVID-19, as part of the European Commission’s goal to ensure early access to safe and effective COVID-19 vaccines for Europe.” 

At the US-China front, the latest remarks between the U.S. and Chinese trade representatives refreshing optimism surrounding the phase one trade deal. The Dragon Nation recently confirmed that the trade deal between the US-China remains intact. He further added that China and the U.S. had a constructive conversation on the trade agreement. As per the keywords, “China says both sides agreed to continue pushing forward implementation of phase 1 trade deal.” This, in turn, underpinned the market sentiment and sent the U.S. dollar down. Also, supporting the market trading sentiment could be the news that the virus cases in Florida and the U.K. are receding off-late.

On the other hand, the market did not give any major attention to the American health official’s warning to Trump administration’s rush for coronavirus (COVID-19) vaccine. It s worth reporting that Dr. Anthony Fauci, the head of the U.S. National Institute of Allergy and Infectious Diseases, told yesterday that rushing out vaccines could undermine trials of other promising candidates.

At the Brexit front, the fears of the no-deal Brexit were further fueled after the failure of the 7th round to reach any agreements by the European Union (E.U.) and the U.K.’s policymaker. Whereas, both parties EU-UK are alleged to each other for the failure. Thus these fears become the key factor that capped further upside in the currency pair. 

The losses in the U.S. dollar could also be attributed to the uptick in the U.S. stock futures. Whereas, the U.S. dollar index that tracks the greenback against a basket of other currencies dropped by 0.11% to 93.207 by 9:48 PM ET (2:48 AM GM


Moving ahead, the market traders will keep their eyes on the U.S. Federal Reserve Chairman Jerome Powell’s speech at the Jackson Hole symposium, which is scheduled to open on Thursday. The U.S. August consumer confidence is due later in the day and will be key to watch. In the meantime, the USD moves and coronavirus headlines will also closely followed as they could play a key role in the gold run-up.

The GBP/USD pair is trading at 1.3138, holding right below a double top resistance level of 1.3144. We decided to take a selling trade below 1.3144 level, but unfortunately, the pair spiked sharply to test a high of 1.3170 level, which hit our stop loss. But right after hitting our stop loss, the Cable again reversed to trade below 1.3144. The GBP/USD is still holding below 1.3144, but the pair is forming bullish candles so that we may have a bullish trend continuation in the market. Let’s wait for a proper setup. Good luck! 

Categories
Forex Signals

Consecutive Two Winnings On Gold Trading Signals – What’s Next?

The yellow metal prices succeeded in stopping its previous day declines and started to gain some bullish bias near above 1,935 level on the day. However, the gold prices have nothing major to cheer on the day except U.S. dollar weakness. The investor turned to the safe-haven metal as the dollar dropped, and COVID-19 worries increased. 

The yellow metal prices succeeded in stopping its previous day declines and started to gain some bullish bias near above 1,935 level on the day. However, the gold prices have nothing major to cheer on the day except U.S. dollar weakness. The investor turned to the safe-haven metal as the dollar dropped, and COVID-19 worries increased. 

The yellow metal prices succeeded in stopping its previous day declines and started to gain some bullish bias near above 1,935 level on the day. However, the gold prices have nothing major to cheer on the day except U.S. dollar weakness. The investor turned to the safe-haven metal as the dollar dropped, and COVID-19 worries increased. 

The upbeat market sentiment, backed by optimism over U.S. authorization of a blood plasma treatment for Covid-19, turned out to be a major factor that cap further upside in the gold. Elsewhere, the reason behind the upbeat market sentiment could also be associated with the overnight optimism over the US-China’ constructive’ talks on phase one trade agreement, which eventually dulled gold’s safe-haven appeal. 

On the contrary, the lack of progress over the next round of the U.S. fiscal stimulus measures and the coronavirus (COVID-19) prevalence grab major attention and keep challenging the risk-on market sentiment, which might provide some support to the gold. At the press, the yellow metal prices are currently trading at 1,933.55 and consolidating in the range between 1,926.68 and 1,937.62. Moving on, the traders seem cautious to place any strong position as all eyes are now on Thursday’s Jackson Hole symposium.

Apart from this, the market trading sentiment was further bolstered by fresh optimism over the US-China’ constructive’ talks on phase one trade agreement. The Dragon Nation recently confirmed that China and the U.S. had a constructive conversation on the trade agreement. As per the keywords, “China says both sides agreed to continue pushing forward implementation of phase 1 trade deal.” However, these updates are positive for risk sentiment and might weigh on the safe-haven assets like gold.

Across the pond, the lingering uncertainty over the next round of the U.S. fiscal stimulus measures also supported the risk aversion. As we know, the U.S. policymakers have not yet confirmed the restart of negotiation related to the COVID-19 aid package. However, the hurdles over the package were intensified further after the House Speaker Nancy Pelosi took a U-turn from her previous readiness to cut the demands in half. On the flip side, the on-going tussle between US-China and India’s phasing out of Huawei equipment to cite the Sino-American tension turned out to be the major factor that helped the gold prices to maintain its bullish bias on the day.

As a result of risk-on market sentiment, the broad-based U.S. dollar failed to gain any bids and took the offers on the day as doubts persist over the global economic recovery from COVID-19 ahead of Fed Chairman Jerome Powell speech at Thursday’s Jackson Hole symposium themed. As well as, the risk-on market sentiment also weighed on the American currency. However, the U.S. dollar losses helped the gold prices to deeper its losses as the price of gold is inversely related to the price of the U.S. dollar. Whereas, the U.S. dollar index that tracks the greenback against a basket of other currencies edged down 0.11% to 93.207 by 9:48 PM ET (2:48 AM GMT).

Moving ahead, the market traders will keep their eyes on the U.S. Federal Reserve Chairman Jerome Powell’s speech at the Jackson Hole symposium, which is scheduled to open on Thursday. The U.S. August consumer confidence, which is due later in the day and will be key to watch. In the meantime, the USD moves and coronavirus headlines will also closely followed as they could play a key role in the gold run-up.


Technically, the precious metal gold has violated the symmetric triangle pattern at 1,928 level, and below this, we tried to capture quick sellings twice and were able to capture quick green pips in both of the trades.

We have finally closed two winning signals in gold, but we had to come out of the market a bit early as the precious metal isn’t continuing with the selling trend. Anyway, we will still be looking to enter a selling trade below 1,928 level to target 1,911 and even further lower. Good luck! 

Categories
Forex Signals

GBP/JPY Supported Over Upward Trendline – Buy Signal Update

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Entry Price – Buy 138.883
Stop Loss – 138.383
Take Profit – 139.383
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

AUD/USD Breaksover Descending Triangle – Brace for Buying

Today in the early European trading session, the AUD/USD currency pair stopped its Asian session losing streak and took further bids at the high around closer to 0.7200 marks mainly due to the upticks in the equity market, supported by the latest optimism over treatment for the highly infectious coronavirus. This, in turn, 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 stopped its Asian session losing streak and took further bids at the high around closer to 0.7200 marks mainly due to the upticks in the equity market, supported by the latest optimism over treatment for the highly infectious coronavirus. This, in turn, 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 stopped its Asian session losing streak and took further bids at the high around closer to 0.7200 marks mainly due to the upticks in the equity market, supported by the latest optimism over treatment for the highly infectious coronavirus. This, in turn, underpinned the perceived risk currency Australian dollar and contributed to the currency pair gains. 

The broad-based U.S. dollar selling bias, triggered by the uncertainty over the next round of the U.S. fiscal stimulus measures, also favored the currency pair buyers. The upbeat market sentiment also drags the U.S. dollar lower. In the meantime, the receding cases in Victoria and the U.S. also helped the currency pair. 

On the contrary, the on-going conflict between the US-China and virus woes in Europe became the key factor that capped further upside for the currency pair. The AUD/USD is currently trading at 0.7185 and consolidating in the range between 0.7152 – 0.7187.

The global market risk sentiment remained well supported by optimism over a possible coronavirus vaccine. These vaccines’ hopes were fueled after the U.S. Food & Drug Administration (FDA) approved the use of blood plasma from recovered patients as a treatment option. The sentiment around the market was also boosted after the reports that the U.S. is considering by-passing normal U.S. regulatory standards to fast-track an experimental coronavirus vaccine from Britain.

Apart from this, the market trading sentiment is rather unaffected by the renewed uncertainties over the much-awaited fiscal package, which has fueled worries over the U.S. economic recovery. It is worth reporting that the U.S. Congress previously showed readiness for reaching an agreement over the latest stimulus measures, but afterward, he took a U-turn from his positive statement. 

At the US-China front, the tussle between the world’s two biggest economies, US-China further intensified following U.S. President Trump raised the possibility of decoupling the U.S. economy from China, a major purchaser of the U.S. goods. These gloomy headlines are playing a negative role in capping the further upside in the currency pair.

At the USD front, the broad-based U.S. dollar remained depressed on the day in the wake of the uncertainties over the next round of the U.S. fiscal stimulus measures. As well as, the weaker tone surrounding the U.S. Treasury bond yields in the wake of upbeat market sentiment further pressured the U.S. dollar and contributed to the pair’s gains. Whereas, the U.S. Dollar Index that tracks the USD against a bucket of other currencies was down, inching down to 93.102.

Looking forward, the market traders will focus on the upcoming speech of U.S. Federal Reserve Chairman Jerome Powell at the Jackson Hole symposium on Thursday. As well as, the USD moves and coronavirus headlines will also closely followed ahead as they could play a key role.


The AUD/USD is taking a bullish turn at 0.7190 mark, passing over 50 EMA resistance mark of 0.7180. On the upper side, the AUD/USD may surge unto 0.7216 mark. The 50 EMA is presently serving as s support, though the mystery is whether to go for buy or sell? We are going long on Aussie, and here’s a trading signal.

Entry Price – Buy 0.71848
Stop Loss – 0.71448
Take Profit – 0.72248
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 Trading Bullish – Fibonacci Retracement in Play! 

Today in the early European trading hours, the GBP/USD currency pair managed to stop its early-day losing streak and drew some modest bids on the day mainly due to the broad-based U.S. dollar weakness, triggered by the market upbeat trading sentiment. The long-lasting deadlock surrounding the much-awaited U.S. fiscal stimulus also weighed on the safe-haven U.S. dollar and contributed to the currency pair gains. 

Today in the early European trading hours, the GBP/USD currency pair managed to stop its early-day losing streak and drew some modest bids on the day mainly due to the broad-based U.S. dollar weakness, triggered by the market upbeat trading sentiment. The long-lasting deadlock surrounding the much-awaited U.S. fiscal stimulus also weighed on the safe-haven U.S. dollar and contributed to the currency pair gains. 

Today in the early European trading hours, the GBP/USD currency pair managed to stop its early-day losing streak and drew some modest bids on the day mainly due to the broad-based U.S. dollar weakness, triggered by the market upbeat trading sentiment. The long-lasting deadlock surrounding the much-awaited U.S. fiscal stimulus also weighed on the safe-haven U.S. dollar and contributed to the currency pair gains. 

On the other hand, the bullish sentiment around the currency pair was further bolstered by the reports that the U.K. was looking forward to record-breaking economic growth in the 3rd-quarter, as per the study by the City of London economists. On the contrary, the long-lasting Brexit woes became the key factor that kept the lid on any additional gains in the currency pair. At this particular time, the GBP/USD currency pair is currently trading at 1.3108 and consolidating in the range between 1.3083 – 1.3115.

The coronavirus vaccine hopes have been supporting the market trading sentiment on the day. As per the latest report, the U.S. Food & Drug Administration (FDA) authorized the use of blood plasma from recovered patients as a treatment option. Also supporting the market trading sentiment could be the reports that the Trump Administration was considering by-passing normal U.S. regulatory standards to fast-track an innovative coronavirus vaccine from the U.K. This, in turn, undermined the safe-haven U.S. dollar and contributed to the pair gains.

At the USD front, the broad-based U.S. dollar could not maintain its positive sentiment and edged lower on the day as doubts over the U.S. economic recovery exceeded amid on-going failure over the much-awaited aid package. The losses in the U.S. dollar could also be attributed to the uptick in the U.S. stock futures. The losses in the U.S. dollar kept the currency pair higher. Whereas, the U.S. Dollar Index that tracks the USD against a bucket of other currencies was down to 93.102.

At the Brexit front, the fears of the no-deal Brexit were further fueled after Friday’s failure to reach any agreements by the European Union (E.U.) and the U.K.’s policymaker. Whereas, both parties EU-UK blaming each other for the failure of reaching a deal. Thus these fears capped further upside in the currency pair. 

On the positive side, the currency pair gains could also be associated with the reports that the U.K. is set for record-breaking economic growth in the third quarter as per the study by the City of London economists. It should be noted that the Small and Medium Enterprises (SMEs) gain optimism, though slowly, with the latest score of 95 at the start of the 3rd-quarter. Moreover, the Financial Times (F.T.) also shared that the U.K. seems to be on track to enjoy a record-breaking economic recovery in the 3rd-quarter, backed by consumers who are spending again after easing lockdowns restrictions and a planned reopening of schools.

Apart from this, the fears of coronavirus also decreased in the U.K. after seen the low pace in cases. According to the latest report, 1,041 new cases, down from 1,288 on Saturday, as per Reuters. In the absence of the significant data/events on the day, the market traders will focus on the upcoming speech of U.S. Federal Reserve Chairman Jerome Powell at the Jackson Hole symposium on Thursday. As well as, the USD moves and coronavirus headlines will also closely followed ahead as they could play a key role.


The GBP/USD pair is trading sideways above a strong support level if 1.3072. The support here is extended by 1.3074 level, where the bearish breakout of 1.3074 level can extend selling unto 1.3007 level. On the higher side, the next resistance is likely to be found around 1.3155 level. The 50 EMA and the technical indicators such as RSI, MACD, and 50 periods of EMA suggest a selling bias in the Cable. Let’s consider taking selling trades below 1.3075 level, while buying can be seen if the GBP/USD pair continues to close candles over 1.3075 level. 

Entry Price – Buy 1.31144
Stop Loss – 1.30744
Take Profit – 1.31544
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