Tag: Forex Signal

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Forex Signals

EURUSD: Heading towards the South

EURUSD produced a bearish candle on the daily chart Friday. The 15 M chart shows that the price made a bearish correction to start its trading day today. It found its resistance at 1.21380 and made a bearish move. It made a breakout at the level of 1.2110 by producing a good-looking bearish Marubozu candle. The pair produced one more bearish candle and then consolidated around the level of 1.21000. Upon producing a bearish Pin Bar, the price seems to get more bearish. It may head towards the level of 1.20700 with good bearish momentum. The price may consolidate or make a bullish correction around the level before finding its next direction as far as the 15M chart is concerned.

Trade Summary:

Entry: 1.21002

Stop Loss: 1.21002

Take Profit: 1.20802

The risk for the trade per standard lot is $100, Mini lot $10 and Micro lot $1. The risk-reward is 1:2. Thus, the reward for per standard lot is $200, Micro lot $ $20 and Mini lot $ 2.

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Forex Signals

EUR/JPY Breaking Over Intraday Resistance – Buy Setup In-Play

During Monday’s Asian trading session, the EUR/JPY currency pair managed to gain positive traction and edged higher above the 130.00 level due to the market risk-on mood, which tends to undermine the safe-haven Japanese yen and contributes to the currency pair gains. Hence, the upbeat market sentiment was supported by optimism over a potential vaccine/treatment for the highly infectious coronavirus, which boosted the sentiment around the shared currency and helped the currency pair to stay bid. 

During Monday’s Asian trading session, the EUR/JPY currency pair managed to gain positive traction and edged higher above the 130.00 level due to the market risk-on mood, which tends to undermine the safe-haven Japanese yen and contributes to the currency pair gains. Hence, the upbeat market sentiment was supported by optimism over a potential vaccine/treatment for the highly infectious coronavirus, which boosted the sentiment around the shared currency and helped the currency pair to stay bid. 

During Monday’s Asian trading session, the EUR/JPY currency pair managed to gain positive traction and edged higher above the 130.00 level due to the market risk-on mood, which tends to undermine the safe-haven Japanese yen and contributes to the currency pair gains. Hence, the upbeat market sentiment was supported by optimism over a potential vaccine/treatment for the highly infectious coronavirus, which boosted the sentiment around the shared currency and helped the currency pair to stay bid. 

On the contrary, the worsening Coronavirus (COVID-19) Condition in Europe keeps fueling the worries over the Eurozone economic recovery, which could be considered one of the key factors that kept the lid on any additional gains in the currency pair. At the moment, the EUR/JPY currency pair is currently trading at 123.31 and consolidating in the range between the 123.02 – 123.34. Moving on, the traders seem cautious to place any strong position ahead of the German/ Eurozone flash PMIs. However, the big miss on expectations would suggest that worsening Coronavirus (COVID-19) is taking a toll on the Eurozone economy, which could lead to big declines in the shared currency.

As we already mentioned that the market trading sentiment remained well supported by the renewed optimism over a possible vaccine for the highly infectious coronavirus disease, which instantly boosted the market risk tone. The vaccine hopes were bolstered after reports came that the vaccinations against coronavirus disease in the U.S. will likely start in 3-weeks, as the FDA is showing readiness to approve drugmaker Pfizer and German partner BioNTech’s experimental candidate in mid-December. Apart from the U.S., the U.K. is expected to give Pfizer’s vaccine a green signal this week. This, in turn, boosted hopes for a global economic recovery in 2021. Therefore, the risk-on market mood tends to undermine the safe-haven Japanese yen, which becomes the key factor that lends some support to the currency pair to put some bids.

Moreover, the market trading sentiment was further bolstered by the positive developments surrounding the Brexit talks between the U.K. and the European Union (E.U.). It is worth recalling that the European Union (E.U.) and the U.K. are very closer to breaking the deadlock over fisheries’ key issue. 

On the contrary, the worsening Coronavirus (COVID-19) condition in Europe keeps fueling the worries over the Eurozone economic recovery, which could be considered one of the key factors that kept the lid on any additional gains in the currency pair. However, the shared currency’s ability to stay bid will be tested on the day as a survey-based indicator(Eurozone PMIs) is set to show the true amount of damage to the economy caused by the resurgence of coronavirus. Thus, the big miss on expectations would suggest that worsening Coronavirus (COVID-19) is taking a toll on the Eurozone economy, leading to significant declines in the shared currency. Conversely, the Upbeat PMIs, especially Germany’s manufacturing sector, could push the single currency higher.

Across the pond, the gains in the currency pair were further capped by the latest statements of Christine Lagarde, President of the ECB, that the ECB will be taking action in December and caused the shared currency to come under pressure against its rivals. In the meantime, the Italian Prime Minister Giuseppe Conte said they are considering starting setting nightly curfews in the country, while the German Chancellor Angela Merkel said they are expected to limit contacts between people in private for all winter months. This, in turn, becomes the key factor that kept the lid on any further gains in the currency pair.

Looking ahead, the market traders will keep their eyes on U.S. Markit Manufacturing PMIs along with the German/ Eurozone flash PMIs, which are scheduled to release later in the day. All in all, the updates surrounding the Brexit, virus, and U.S. stimulus package will not lose their importance. 

Daily Support and Resistance

S1 122.27

S2 122.74

S3 122.94

Pivot Point 123.21

R1 123.41

R2 123.68

R3 124.16

Entry Price – Buy 123.281

Stop Loss – 122.881

Take Profit – 123.681

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/GBP Closes Bearish Setup – Quick Signal Update


Entry Price – Buy 0.8973
Stop Loss – 0.9013
Take Profit – 0.8933
Risk to Reward – 1:1
Profit & Loss Per Standard Lot = -$400/ +$400
Profit & Loss Per Micro Lot = -$40/ +$40
Fellas, now you can check out forex trading signals via Forex Academy mobile app. Follow the links below.
iPhone Users: https://apps.apple.com/es/app/fasignals/id1521281368
Andriod Users: https://play.google.com/store/apps/details?id=academy.forex.thesignal&hl=en_US

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Forex Signals

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

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

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

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

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

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

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

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

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

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


Daily Support and Resistance

S1 0.7025

S2 0.7106

S3 0.7137

Pivot Point 0.7186

R1 0.7217

R2 0.7266

R3 0.7346

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

Entry Price – Buy 0.71844

Stop Loss – 0.71444

Take Profit – 0.72244

Risk to Reward – 1:1

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

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

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

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

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

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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

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Forex Signals

Gold Breaking Below Support 1,969 – Quick Update on Trading Signal!

Entry Price – Sell 1969.87

Entry Price – Sell 1969.87

On Monday, the precious metal gold prices failed to manage its early-day sharp gains and slipped from a record high of around $1,988.02. Gold prices fell below $1,988 level to trade modestly at $1,968 level, possibly due to the broad-based U.S. dollar fresh bids in the wake of safe-haven demand. However, the gold prices took round near the record high level.

The gold early-day sharp gains could be associated with the risk-off market sentiment triggered by the geopolitical tension between the U.S. and China. As well as the lack of clarity surrounding the much-awaited U.S. fiscal package also favored the safe-haven gold. Elsewhere, the bullish bias in yellow-metal prices was further bolstered by the coronavirus (COVID-19) woes that have been greatly favoring the market’s rush to risk-safety. Moving on, the gains in the greenback could be short-lived or temporary as the coronavirus continuously increases in the U.S., which faded the hopes for quick U.S. economic recovery. At the moment, the safe-haven-metal prices are currently trading at 1,974.19 and consolidating in the range between 1,969.96 and 1,985.11.

Apart from this, the ever-increasing coronavirus (COVID-19) cases continued to weigh on the investor’s confidence about the economic recovery and kept the trading market depressed, witnessed by the fresh leg down U.S. stocks futures. The number of cases globally almost crossed 17 million, while 4.4 million confirmed cases and more than 150,000 deaths toll in the U.S. individually. Elsewhere, the Australian state of Victoria recorded 429 new coronavirus cases on the day, with 13 death recorded so far. It is worth reporting that there are currently 6,489 active coronavirus cases in Victoria. Among them, 416 are in hospital. Apart from Aussie, Tokyo reported 292 new coronavirus infections so far on the day. Considering the on-going rise of virus cases in Australia, the Victorian Premier Daniel Andrews said that he would announce further business restrictions, which would further fuel concerns over the recovery in oil demand.

Besides, the risk-off market sentiment was further bolstered by the U.S. policymakers’ inability to provide details of the fiscal plan. Although the relief measure expired on Friday, the U.S. Senate members failed to offer any information on the unemployment claims benefit. Meanwhile, the uncertainty over the much-awaited fiscal package remains on the cards, as the Democrats and Republicans are still against each other over the package’s size. The Democrats are willing to offer $3.5 trillion help, while Republicans are not supporting anything more than $1.0 trillion.


Considering the early bearish trend continuation signal in gold, we decided to take a sell trade around 1,969 level to target the 1,963 level today. On the lower side, the gold may support around $1,961 level, and violation of this level can extend the selling trend until $1,945. Check out the trade plan below…

Entry Price – Sell 1969.87
Stop Loss – 1975.87
Take Profit – 1963.87
Risk to Reward – 1:1
Profit & Loss Per Standard Lot = -$600/ +$600
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/USD Dropped Below Mid-1.1800 – Combination Of Factors In Play! 

The EUR/USD currency pair had nothing to cheer on the day and dropped below the mid-1.1800 level. The E.U. digital nationalism concerns also added bearish pressure around the shared currency and contributed to the currency pair declines. Whereas, the currency pair failed to gain any strength from the upbeat Eurozone inflation data, which were released on Friday. At the moment, the EUR/USD currency pair is currently trading at 1.1755 and consolidating in the range between 1.1742 – 1.1797. However, the currency pair buyers seemed cautious to place any strong position ahead of the final German and Eurozone manufacturing PMI numbers for July, which is due on the day.

The EUR/USD currency pair had nothing to cheer on the day and dropped below the mid-1.1800 level. The E.U. digital nationalism concerns also added bearish pressure around the shared currency and contributed to the currency pair declines. Whereas, the currency pair failed to gain any strength from the upbeat Eurozone inflation data, which were released on Friday. At the moment, the EUR/USD currency pair is currently trading at 1.1755 and consolidating in the range between 1.1742 – 1.1797. However, the currency pair buyers seemed cautious to place any strong position ahead of the final German and Eurozone manufacturing PMI numbers for July, which is due on the day.

The EUR/USD currency pair had nothing to cheer on the day and dropped below the mid-1.1800 level. The E.U. digital nationalism concerns also added bearish pressure around the shared currency and contributed to the currency pair declines. Whereas, the currency pair failed to gain any strength from the upbeat Eurozone inflation data, which were released on Friday. At the moment, the EUR/USD currency pair is currently trading at 1.1755 and consolidating in the range between 1.1742 – 1.1797. However, the currency pair buyers seemed cautious to place any strong position ahead of the final German and Eurozone manufacturing PMI numbers for July, which is due on the day.

It is worth recalling that the annual Eurozone inflation figures came in at +0.4% in July, met the +0.2% expectations, and crossed +0.3% previous as per the Eurostat’s flash reading of Eurozone CPI report. In the meantime, the core figure rose to +1.2% in the reported month against +0.8% expectations and +0.8% previously. However, this positive data was unable to provide any support to the shared currency.

The losses in the currency pair were further bolstered by the concerns that the European Union’s digital protectionism will likely exacerbate Washington and Beijing, which kept the shared currency under pressure and contributed to the currency pair losses. France officials recently have taken aggressive action against U.S. tech companies for years while threatening to impose billions of euros in fines on Intel, Microsoft, Facebook, Google, Qualcomm, and Amazon. 

Apart from the EUR, the U.S. Congress failed to agree on the much-awaited extension of the unemployment claims benefits as they expired on Friday. Besides, the U.S. policymakers also could not agree over the much-awaited fiscal package to control the pandemic’s economic impacts, as Democrats and Republicans still have differences over the size of the package. This, in turn, made the S&P 500 Futures to mark 0.30% losses to 3,260. The same portrayed the market’s risk-off mood and gave extra strength to the safe-haven assets.

On the other hand, the risk-tone was further bolstered by the on-going tension between the United States and China. It is worth reporting that the U.S. President Donald Trump released notification to ban the Chinese video app TikTok in the United States. Whereas, the Secretary of State Michael Pompeo also followed President Donald Trump’s footsteps while saying that the U.S. will take action shortly on Chinese software companies that are providing data directly to the Chinese government, which caused the risk to U.S. national security. These newer to newer tensions between US-China could harm the trade deal. 

At the coronavirus front, the increasing pandemic numbers from the U.S., Australia India, and Brazil continued to exert downside pressure on the risk sentiment. As per the latest report, Australia’s Victoria has recently been given the “state of disaster” title after cases rose past-670 during the weekend. On the other hand, Tokyo reported 292 new coronavirus infections on Sunday, after cases increased by more than 400 in the past two days.

 The market players will keep their eyes on early-month activity numbers from China and the U.S. As well as, the final German and Eurozone manufacturing PMI numbers for July will be key to watch. Moreover, the USD price moves and coronavirus headlines will play a key role in determining the intraday momentum.


The EUR/USD fell sharply from 1.1908 level to test the double bottom support level of 1.1745 level. On the hourly timeframe, the EUR/USD extends to form neutral candles, which suggests indecision among investors despite a strong support level of 1.1745. On the higher side, the EUR.USD may find support at 1.1796 level. 

Entry Price – Sell 1.17262

Stop Loss – 1.17662

Take Profit – 1.16862

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 Bullish Bias Continues to Dominate – Brace for a Buying Trade! 

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.

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.

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.

On Thursday, the precious metal gold is trading with a strong bullish bias on the back of an increased number of COVID 19 cases around the globe. On the 4 hour chart, gold is trading within a bullish channel, which is supporting the XAU/USD prices above 1,709 level, and these are also providing resistance at 1,738 and 1,747 today.


The RSI and MACD are suggesting odds of bullish trend continuation, which is why we have entered a bullish trade around 1726 with a stop loss below 1726 and take profit of around 1739. 

Entry Price: Buy at 1726 

Take Profit 1739    

Stop Loss 1718    

Risk/Reward 1.63

Profit & Loss Per Standard Lot = -$‭800/ +$1300

Profit & Loss Per Micro Lot = -$‭80/ +$130

Categories
Forex Market Analysis

EUR/CHF Triangle Breakout – Time to Short the Pair!  

The EUR/CHF is facing stiff resistance around 1.05440, which is mostly extended by a descending triangle pattern that has already been violated. This may drive the EUR/CHF pair further lower until the next support area of 1.0502. The Euro as a signal currency is still staying bearish in the wake of an increased number of COVID 19 cases around the globe.  

The EUR/CHF is facing stiff resistance around 1.05440, which is mostly extended by a descending triangle pattern that has already been violated. This may drive the EUR/CHF pair further lower until the next support area of 1.0502. The Euro as a signal currency is still staying bearish in the wake of an increased number of COVID 19 cases around the globe.  

The EUR/CHF is facing stiff resistance around 1.05440, which is mostly extended by a descending triangle pattern that has already been violated. This may drive the EUR/CHF pair further lower until the next support area of 1.0502. The Euro as a signal currency is still staying bearish in the wake of an increased number of COVID 19 cases around the globe.  

Most of the selling in the EUR/CHF pair triggered after the Eurozone money market rates crawled lower from four-year speak. It’s a hint the Euribor benchmark may be beginning to counter to European Central Bank measures aimed at reducing the funding rush beyond the single currency bloc. Declines in the oil prices could be recovered during the day ahead, mainly due to the risk recovery in the market, as the coronavirus cases are showing some sign of a slowdown in global economies. 


The EUR/CHF pair has formed a descending triangle pattern which was supporting the pair around 1.0540 along with resistance around 1.05675. As we can see, the pair has already breached the descending triangle pattern, which now opens further room for selling until the next target level of 1.0540.  

The 50 EMA and the descending trendline is weighting on the cross pair, and it may drive selling bias in the EUR/CHF today. The violation of 1.0540 level can extend the selling trend until the next target level of 1.0520 and 1.0509. Good luck! 

Categories
Forex Signals

AUD/USD Ascending Triangle Breaksout– Time to Go Long! 

The AUD/USD surged 1.1% to a three-week high of 0.6237 as positive news regarding COVID 19 from china is motivating investors fo buy Aussie. The AUD/USD currency pair instantly gained around 30-35 pips from daily lows and is currently placed in the neutral territory, around the 0.6230 regions as the market attention now turns to the U.S. macro releases.

The AUD/USD surged 1.1% to a three-week high of 0.6237 as positive news regarding COVID 19 from china is motivating investors fo buy Aussie. The AUD/USD currency pair instantly gained around 30-35 pips from daily lows and is currently placed in the neutral territory, around the 0.6230 regions as the market attention now turns to the U.S. macro releases.

The AUD/USD surged 1.1% to a three-week high of 0.6237 as positive news regarding COVID 19 from china is motivating investors fo buy Aussie. The AUD/USD currency pair instantly gained around 30-35 pips from daily lows and is currently placed in the neutral territory, around the 0.6230 regions as the market attention now turns to the U.S. macro releases.

During the U.S. session, the trader will keep their eyes on the release of initial weekly jobless claims, with March PPI figures could influence the USD price dynamics and provide some trends in Fx trading. The virus updates will be critical to watch for fresh directions. Therefore traders will keep their eyes on the COVID-19 clues for near-term direction. 


Technically, the AUD/USD has violated the resistance level of 0.6200, and the closing of candles above this level may drive bullish bias in the AUD/USD currency pair. On the 4 hour timeframe, the Aussie dollar has formed a bullish channel, while the AUD/USD 50 EMA also supports the bullish bias, which may lead its prices higher towards 0.6325 resistance level today. Considering this, we have entered a buying trade at 0.62473 with a stop loss of around 0.61773 and take profit at 0.62473.

Buying Price: 0.62473    

Take Profit  0.63173    

Stop Loss 0.61773    

Risk/Reward 1

Profit & Loss Per Standard Lot = -$700/ +$700

Profit & Loss Per Micro Lot = -$70/ +$70

Categories
Forex Signals

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.  

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.  

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.  

As per the coronavirus latest report, the cases rose by 3,677 in Germany when compared with Sunday’s 5,936 new infections, showing the 4th-straight drop in the daily rate. The death toll rose by 92.

On the other hand, the declines in the oil prices could be recovered during the day ahead mainly due to the risk recovery in the market, as the coronavirus cases are showing some sign of a slowdown in the US, Italy, and Spain slowing down over the weekend. 


The EUR/CHF continues to trade below a resistance level of 1.05750. Closing of candles below this level has the potential to lead the EUR/CHF prices further down towards the next support level of 1.05330. On the higher side, the bullish breakout of 1.0570 can lead the pair towards 1.0590. The RSI and Stochastic remain neutral, as its values are tossing in the bullish and bearish zone.

Sell Limit Price: Sell at 1.05741    

Take Profit  1.05241    

Stop Loss 1.06241

Risk/Reward 1.00

Profit & Loss Per Standard Lot = -$511/ +$511

Profit & Loss Per Micro Lot = -$51.1/ +$51.1

Categories
Forex Signals

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.

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.

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.

According to the U.S. labor market report, the week ending March 28, the advance numbers for initial jobless claims surged dramatically to 6,648,000, exhibiting an increase of 3,341,000 from the previous week’s updated level. This signifies the highest level of seasonally adjusted initial jobless claims in history. The prior week’s level was updated up by 24,000 from 3,283,000 to 3,307,000.

Since most of the data was already expected, considering the increased number of COVID 19 cases in the United States due to which the U.S. and people of other countries around the globe are locked down at homes. Despite this number, the U.S. dollar is making a bullish move, perhaps, it’s the technical analysis which is driving the buying trend in the USD/CHF. 


On the 4 hour timeframe, the USD/CHF prices are holding around 0.9772, and bullish breakout of this level can extend buying until the next target level of 0.9856. Below this level, we can expect selling in the pair; in fact, I will try to capture the selling once the market reaches 0.9856. On the lower side, immediate support stays around 0.9606.

Entry Price: Buy at 0.97385

Take Profit 0.98185

Stop Loss 0.96585

Risk/Reward 1

Profit & Loss Per Standard Lot = -$800/ +$800

Profit & Loss Per Micro Lot = -$80/ +$80 

Categories
Forex Signals

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.”

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.”

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.”

The BOE Monetary Policy Committee (MPC) fixes monetary policy to reach the 2% inflation mark and whereby advocates to support growth and employment. In that context, its challenge over recent weeks has been to return to the severe economic and financial disorder produced by the spread of Covid-19.


Technically, the GBP/USD pair has violated the double top resistance level of 1.1930 level on the 4-hour chart. Closing of candles above this confirms bullish breakout and opens up further room for buying until 38.2% Fibonacci resistance level of 1.2135. At the same time, the MACD is also staying in a bullish zone. Support can be found around the 1.1946 zones.

Entry Price: Buy at 1.20286
Take Profit 1.21686
Stop Loss 1.19086
Risk/Reward 1.17

Profit & Loss Per Standard Lot = -$1200/ +$1400
Profit & Loss Per Micro Lot = -$120/ +$140

Categories
Forex Signals

GBP/JPY to Gain Support Over Upward Trendline – Buying Limit!

The Japanese cross currency pair GBP/JPY has dropped to trade at 130.300 as investors are moving towards safe-haven assets such as gold and Japanese yen. At the same time, traders seem to cash out from Sterling, causing it to tumble to its lowest level on record versus the currencies of the United Kingdom’s major trading partners.

The Japanese cross currency pair GBP/JPY has dropped to trade at 130.300 as investors are moving towards safe-haven assets such as gold and Japanese yen. At the same time, traders seem to cash out from Sterling, causing it to tumble to its lowest level on record versus the currencies of the United Kingdom’s major trading partners.

The Japanese cross currency pair GBP/JPY has dropped to trade at 130.300 as investors are moving towards safe-haven assets such as gold and Japanese yen. At the same time, traders seem to cash out from Sterling, causing it to tumble to its lowest level on record versus the currencies of the United Kingdom’s major trading partners.

It seems like the effects of the coronavirus pandemic proceed to shred through markets. Besides this, the British Consumer Prices Index, which is also known as inflation, surged to 1.7% in the month of February 2020. Comparing it to the previous month, the CPI figure is down by 0.1% from 1.8% in January 2020, and it has also been weighing on the GBP/JPY.



Technically speaking, the GBP/JPY is likely to test the support level of 129.650, which is extended by a bullish trendline. At the same level, the 50 periods exponential moving average is also supporting the Japanese cross.

While the resistance becomes a support level holds around 129.120. So to be more secure, we are looking to place a buy limit at 130.330 with a stop loss below 129.750 and take a profit of around 131.850.

Buy Limit 130.335

Take Profit 131.875

Stop Loss 129.735

Risk/Reward 2.57

Profit & Loss Per Standard Lot = -$530/ +$1,380

Profit & Loss Per Micro Lot = -$53/ +$138