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GBP/USD Breaks over Double Top Pattern – Buckle Up for Buying

The GBP/USD trades bullish around 1.2030 in the wake of less dovish than expected monetary policy decisions. The central bank left the interest rate unchanged at 0.10%. However, it has warned that the measure and term of the economic collapse arising from the coronavirus pandemic will be "wide and dramatic but should eventually prove short-lived."

Bullish Gold Heads for 61.8% Retracement – Weaker Dollar In Play! 

On Wednesday, the precious metal gold expanded after softer-than-expected U.S. economic figures which hiked concerns about global economic growth. Alongside this, it also raised chances of additional interest rate reductions

EUR/JPY Slips Below Descending Triangle – Quick Update on Signal! 

The EUR/JPY is trading bearish at 116.450, having violated the support level of 116.600 level. Holding below this strong resistance can extend selling bias until 115.650 areas in the coming days. It's the COVID 19, which is consistently impacting the exchange rate of the EUR/JPY pair. 

Ethereum on a Bullish Run – Ascending Triangle In Play!

Yesterday on Thursday, the ETH/USD pair had exhibited dramatic bullish momentum on the daily timeframe, which leads Ethereum prices to soar to 174.68 resistance level. With this, the ETH/USD pair formed an ascending triangle pattern, which can be seen on the daily chart, and it is extending substantial resistance around 174.68 along with support at 164.

USDCAD – Watch this Key Support

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EUR/CHF Descending Triangle Pattern – Time to Place a Sell Limit!  

The EUR/CHF is facing strong resistance around 1.05730, which is mostly extended by a downward trendline on the 4-hour timeframe. The 50 periods EMA is keeping the EUR/CHF pair around 1.0578. The Euro as a signal currency is still staying bearish in the wake of an increased number of COVID 19 cases around the globe.  

NZD/USD Breakout of Symmetric Triangle Pattern – Who’s Up to Go...

The NZD/USD currency pair is trading slightly bullish around 0.5990, having violated the symmetric triangle pattern, which is likely to drive the bullish trend in the pair. The New Zealand Dollars proceeded to outperform as risk appetite gained on expectation that the spread of the novel coronavirus in the United States and Europe could be reduced, though an outbreak in Japan worsened. 

XAU/USD Completes Retracement – Is It Good Time to Go Long? 

Gold prices were closed at $1744.21 after placing a high of $1747.91 and a low of $1725.74. Overall the movement of gold prices traded downward throughout the day. Gold prices posted gains after US Treasury Secretary; Steven Mnuchin warned that if coronavirus lockdown continued for months, then the US economy could face permanent damage. He added that job numbers would fell on a worse level before they get better. US administration’s officers said that the government could suffer losses from the risky loans it issued during the pandemic.

USD/JPY Breakout of Symmetric Triangle – Brace for Sell Position! 

The USD/JPY currency pair failed to stop its 4th-consecutive session losing streak and dropped to fresh seven-week lows, around the 106.20 regions on Wednesday as the US dollar still depressed against its Japanese counterpart. The intensifying tension of the US-China war boosted the Japanese yen safe-haven demand, which eventually keeps the currency pair under pressure. 

Bullish Bias in Gold Continues to Dominate – Who’s up for...

On Tuesday, the precious metal gold continues to trade higher around 1,730 area in the wake of increased safe-haven appeal driven by COVID 19. Furthermore, the early-day upbeat remarks from the U.S. Task Force Briefings, news from the U.K. also recommend the coronavirus (COVID-19) is near to its expected high's. The same could negatively influence the gold's safe-haven appeal that has lately fired the bullion to the highest since November 2012.

USD/CHF Ascending Triangle Drives Price Action -Who’s Up for Signal?

During the U.S. session, the USD/CHF pair is exhibiting some dramatic bullish movement as it's prices are trading at 0.9745. What's more surprising is, the U.S. unemployment claims figures are even worse than economists had expected, despite this, the U.S. dollar is gaining bullish momentum.

AUD/USD Violates Ascending Triangle – Let’s Enter on Retracement 

The AUD/USD pair is trading with a bullish bias on Wednesday, soaring from 0.6190 to 0.6220. Bullish bias in Aussie triggered over a better coronavirus scenario in China, especially after China lifted Wuhan city's lockdown. Australia's parliament passed an emergency A$130 billion stimulus package to combat the economy from the coronavirus pandemic, which is helping limit deeper declines and keep the pair above 0.6190 support.

EURNZD – Watch this Breakdown

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GBP/USD Violates Upward Channel – Ready for a Sell Limit? 

The GBP/USD currency pair failed to stop its 3-day losing streak and still trading below 1.2390 while representing 0.46% declines on the 4-hour timeframe. Sell-off came after the United Kingdom registered the highest death toll in Europe. The receding expectations of the government aid package also keep the currency pair under pressure. 

Overbought Gold Closes Bearish Engulfing – Brace to Sell! 

During the Asian session, the precious metal gold was trading at 1,713 area. Technically, gold has entered the overbought zone, and it may help show us a slight bearish retracement below 1,718 area until 23.8% Fibonacci retracement level of 1,705 before showing further bullish trends in the market. 

USD/CAD Recovers from Losses – WTI Up for Retracement! 

The USD/CAD pair was closed at 1.40460 after placing a high of 1.41406 and a low of 1.40318. Overall the movement of the USD/CAD pair remained bearish throughout the day. After posting gains for the last 3 days, the USD/CAD pair dropped on Thursday amid the increased demand for crude oil. WTI Crude Oil gained ground after the International Energy Agency (IEA) improved its oil demand outlook for 2020. Oil prices rose to $27.92 barrel on Thursday and gave strength to commodity-linked currency-Loonie. 

Gold Bullish Bias Continues to Dominate – Brace for a Buying...

Gold is on a bullish run as it's the pricing has soared to 1,730 level in the wake of increased safe-haven appeal in the market. The U.S. government bond prices increased, pressing the benchmark 10-year U.S. Treasury yield down to 0.637% from 0.751% Tuesday.

AUDJPY Bounces from the Lowest Level Since 2009

The AUDJPY cross, in its hourly chart, shows the bounce reaction that the price made once the cross touched level 59.869 being the lowest level since early March 2009.

USD/CAD Gain Support Over Double Bottom – Who’s Up for Bullish...

The USD/CAD pair slipped sharply to form the double bottom pattern around 1.3864 level on the 4-hour chart. The primary reason behind a sharp sell-off in the USD/CAD pair is the risk-on market sentiment, which is increasing demand for crude oil following the report of successful clinical trials of Gilead Sciences' retroviral drug Remdesivir. The drug will be used to treat those infected by COVID-19, and investors are expecting the market will be back to its feet once this medicine gets success.

GBP/USD Sideways Channel Breakout – An Update on Signal!  

The GBP/USD prices are on a bearish mode, falling from 1.2400 level to 1.23700 area. Overall, the pair was supported around 1.2400 zones, but since this level is already violated, the Cable has strong odds of falling further until the 1.2290 area. 

Gold Choppy Sessions Continues – Wait for Breakout! 

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

USDCAD Short

This is a USD CAD short trade where the price action has formed a V shaped reversal and where a modest stop loss is incorporated to lower the risk.

Upward Trendline Supports the EUR/USD – Who’s Up for Buying?

The EUR/USD is showing sideways trading in between the narrow trading range of 1.0885 - 1.0770. On the hourly chart, the EUR/USD has formed an upward channel, which is a key setup right now. If the EUR/USD manages to break below 1.0775 area, we may see further selling in the pair until the next support level of 1.0720. Conversely, the closing of candles above 1.0770 can drive a bullish trend until 1.0850 and even higher towards 1.0885. 

Double Top for Cable

This is a Double top formation in the cable pair, where price action hit the key 1.2300 area on two occasions and where the UK Prime Minister Boris Johnson has tested positive for the Covid-19 virus. 

Gold Setting for Further Declines

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USD/JPY Testing Lower Edge of Bullish Channel – Can We Expect...

The USD/JPY currency pair traded bullish to hit the three-months high at 108.94 before declining to 108.40. As of writing, the USD/JPY currency pair is trading near the 108.40s and

USDCAD SHORT

This is a classic head and shoulders pattern where the neckline has been breached and we expect price to fall to our target line which is a previous line of support.

Gold Surge Amid Boosted Haven Appeal – Trade War In Focus!

 Today in the early European session, the safe-haven metal prices slipped due to less expectation of the rate cut by the Federal Reserve. Earlier today, the U.S. Gold was

EUR/JPY Triple Top Pattern Hold’s – Quick Update on Trading Signal! 

The EUR/JPY is trading bearish at 116.850, falling below the triple top resistance level of 117.500. The broad-based selling pressure of the Euro made it difficult for the EUR/JPY pair to come out of the negative territory. The 10 Year US Treasury bond yield added in the downfall of USD/JPY when it fell more than 2% on Friday.

Gold Trades Within Sideways Range – Buckle Up for A Breakout...

The safe-haven-metal prices flashed green and erased its previous session losses mainly due to intensifying trade war tensions between the US-China. However, the yellow metal hit its highest level since December of 2012 at $1,765 on Monday, but after that, the gold prices dropped sharply during the American trading session. The reason for the sharp decline could be attributed to the positive news about the COVID-19 vaccine. 

USDJPY – Expecting the Breakout

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Bearish Bias Dominates on EUR/USD – Quick Sell Trade!  

The EUR/USD prices were closed at 1.08066 after placing a high of 1.08504 and a low of 1.08004. Overall the movement of the EUR/USD pair remained bearish throughout the day.

EOS Consolidates on the Leading Diagonal Pattern

The EOS prices develop a bullish sequence following the Elliott wave structure of a leading diagonal pattern, which began on the March low at 1.4200.

EUR/USD Symmetric Triangle Breakout – Update on Sell Signal! 

On Thursday, the single currency euro slipped to its weakest level in a month following data, which showed a dramatic slowdown in the Eurozone's economic activity. The business activity is mostly halted by government-imposed lockdowns to prevent the coronavirus pandemic.

Gold Breaking Below 50 EMA and Support – Brace for Selling!

The safe-haven-metal prices flashing green and take bids around the $1,710 while representing 0.50% gains on the day mainly due to fresh allegations on China by the United States helping to increase the safe-have demand in the market. The Sino-US relationship was eased after both parties agreed to improve the atmosphere for fulfilling the phase-one deal's promises. This came after President Donald Trump threatened new tariffs on Chinese goods in case of not buying $200 worth U.S. farm products by China.

EUR/JPY Violates Descending Triangle Pattern – An Update on Signal! 

The EUR/JPY is trading with a bearish bias around 117.150, holding below strong support to become a resistance level of 117.350, which is extended by the descending triangle pattern.