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Forex Signals

GBP/USD Hit Take Profit – Downward Trendline in Play!

35679 and a low of 1.34507. The GBP/USD pair lost ground on Monday and dropped to a fresh 2-weeks lowest level amid the broad-based US dollar strength. The GBP/USD witnessed some selling for the fourth consecutive session on Monday and extended its retracement slide from 33-months highs. The momentum dragged the GBP/USD pair further below as the strong rally in the US Treasury bond yields supported the US dollar. The greenback recovered from nearly three-year lowest level after the treasury yields rally amid the hopes of additional US fiscal stimulus measures. Investors started pricing in the prospects for a more aggressive US fiscal spending in 2021 after the Democratic sweep in the US Senate runoff elections in Georgia.

35679 and a low of 1.34507. The GBP/USD pair lost ground on Monday and dropped to a fresh 2-weeks lowest level amid the broad-based US dollar strength. The GBP/USD witnessed some selling for the fourth consecutive session on Monday and extended its retracement slide from 33-months highs. The momentum dragged the GBP/USD pair further below as the strong rally in the US Treasury bond yields supported the US dollar. The greenback recovered from nearly three-year lowest level after the treasury yields rally amid the hopes of additional US fiscal stimulus measures. Investors started pricing in the prospects for a more aggressive US fiscal spending in 2021 after the Democratic sweep in the US Senate runoff elections in Georgia.

35679 and a low of 1.34507. The GBP/USD pair lost ground on Monday and dropped to a fresh 2-weeks lowest level amid the broad-based US dollar strength. The GBP/USD witnessed some selling for the fourth consecutive session on Monday and extended its retracement slide from 33-months highs. The momentum dragged the GBP/USD pair further below as the strong rally in the US Treasury bond yields supported the US dollar. The greenback recovered from nearly three-year lowest level after the treasury yields rally amid the hopes of additional US fiscal stimulus measures. Investors started pricing in the prospects for a more aggressive US fiscal spending in 2021 after the Democratic sweep in the US Senate runoff elections in Georgia.

The Cable has traded in line with our forecast and closed our position in 47 green pips profit. At the moment, the GBP/USD pair may find resistance at the 1.3589 level that’s extended by a downward trendline on the 2 hourly timeframes. Let’s wait for the GBP/USD pair to reach 1.3630 resistance before getting any additional trade today. Good luck! 

Support Resistance

1.3496 1.3553

1.3475 1.3589

1.3439 1.3611

Pivot Point: 1.3532


Entry Price – Sell 1.36436
Stop Loss – 1.36836
Take Profit – 1.36036
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 Violates Double Bottom – Sell Trade in Play! 

The GBP/USD is trading at the 1.3330 level, maintaining a narrow trading range of 1.3345 – 1.3309. A lack of high-impact economic data drives the choppy session; however, the market will be offering us labor market figures, which are expected to be worse than before, and it may drive selling in the Sterling. Technically, the bearish breakout of the 1.3309 level can extend the selling trend until the 1.3265 level, whereas a bullish breakout can lead it towards the 1.3409 mark. A choppy session can be expected until the pair violates the 1.3345 – 1.3309 range.

The GBP/USD is trading at the 1.3330 level, maintaining a narrow trading range of 1.3345 – 1.3309. A lack of high-impact economic data drives the choppy session; however, the market will be offering us labor market figures, which are expected to be worse than before, and it may drive selling in the Sterling. Technically, the bearish breakout of the 1.3309 level can extend the selling trend until the 1.3265 level, whereas a bullish breakout can lead it towards the 1.3409 mark. A choppy session can be expected until the pair violates the 1.3345 – 1.3309 range.

The GBP/USD is trading at the 1.3330 level, maintaining a narrow trading range of 1.3345 – 1.3309. A lack of high-impact economic data drives the choppy session; however, the market will be offering us labor market figures, which are expected to be worse than before, and it may drive selling in the Sterling. Technically, the bearish breakout of the 1.3309 level can extend the selling trend until the 1.3265 level, whereas a bullish breakout can lead it towards the 1.3409 mark. A choppy session can be expected until the pair violates the 1.3345 – 1.3309 range.


Entry Price – Sell 1.33045

Stop Loss – 1.33445

Take Profit – 1.32645

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

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

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

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

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

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

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

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

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


Daily Technical Levels

Support Resistance

0.7105 0.7162

0.7072 0.7186

0.7048 0.7219

Pivot point: 0.7129

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

Entry Price – Buy 0.7162

Stop Loss – 0.7122

Take Profit – 0.7202

Risk to Reward – 1:1

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

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

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

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

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

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Forex Signals

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

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

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

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

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

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

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

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

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

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

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


Daily Support and Resistance

S1 121.85

S2 122.64

S3 123.04

Pivot Point 123.43

R1 123.83

R2 124.22

R3 125

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

Entry Price – Buy 123.97

Stop Loss – 123.57

Take Profit – 124.37

Risk to Reward – 1:1

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

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

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

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

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

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Forex Signals

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

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

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

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

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

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

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

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

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


Daily Support and Resistance

S1 1.3187

S2 1.3249

S3 1.3276

Pivot Point 1.3311

R1 1.3339

R2 1.3373

R3 1.3435

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

Entry Price – Buy Limit 1.32523

Stop Loss – 1.32123

Take Profit – 1.32923

Risk to Reward – 1:1

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

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

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

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

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

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Forex Signals

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

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

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

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

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

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

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

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

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

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

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


Daily Support and Resistance

S1 0.6878

S2 0.6959

S3 0.6994

Pivot Point 0.704

R1 0.7075

R2 0.7121

R3 0.7202

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

Entry Price – Buy 0.71358

Stop Loss – 0.70958

Take Profit – 0.71758

Risk to Reward – 1:1

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

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

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

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

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

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Forex Signals

GBP/USD Choppy Session Continues – Quick Trade Plan! 

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

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

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

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

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

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

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


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

Daily Support and Resistance

S1 1.2458

S2 1.2615

S3 1.2676

Pivot Point 1.2772

R1 1.2833

R2 1.2929

R3 1.3086

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

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Forex Signals

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


Entry Price – Sell 0.70216
Stop Loss – 0.70616
Take Profit – 0.69816
Risk to Reward – 1:1
Profit & Loss Per Standard Lot = -$400/ +$400
Profit & Loss Per Micro Lot = -$40/ +$40
Fellas, now you can check out forex trading signals via Forex Academy mobile app. Follow the links below.
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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GBP/USD Bounces off Support Level – Reason We Closed Signal Manually! 

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

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

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

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

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

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

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

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

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


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

Daily Technical losses

Support Resistance

1.2672 1.2776

1.2622 1.2828

1.2569 1.2879

Pivot point: 1.2725

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

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Forex Signals

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

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

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

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

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

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

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

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


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

Entry Price – Buy 1.33457

Stop Loss – 1.33057

Take Profit – 1.33857

Risk to Reward – 1:1

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

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

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

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

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

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Forex Signals

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

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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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! 

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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 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.

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 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.

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 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.
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 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

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

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Forex Signals

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!

Categories
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

Categories
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

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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

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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

 

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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.

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 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

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

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! 

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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

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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

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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

GBP/USD Breaks Below Upward Channel – Update on Signal! 

The GBP/USD gained positive traction for the second straight day and refreshed the intra-day high around 1.3240-50 level, mainly due to Friday’s upbeat U.K. Retail Sales, which initially underpinned the Pound and contributed to the currency pair gains. On the other hand, the broad-based U.S. dollar fresh weakness, backed by the downbeat U.S. jobs data, also exerted a bullish impact on the currency pair. 

The GBP/USD gained positive traction for the second straight day and refreshed the intra-day high around 1.3240-50 level, mainly due to Friday’s upbeat U.K. Retail Sales, which initially underpinned the Pound and contributed to the currency pair gains. On the other hand, the broad-based U.S. dollar fresh weakness, backed by the downbeat U.S. jobs data, also exerted a bullish impact on the currency pair. 

The GBP/USD gained positive traction for the second straight day and refreshed the intra-day high around 1.3240-50 level, mainly due to Friday’s upbeat U.K. Retail Sales, which initially underpinned the Pound and contributed to the currency pair gains. On the other hand, the broad-based U.S. dollar fresh weakness, backed by the downbeat U.S. jobs data, also exerted a bullish impact on the currency pair. 

On the contrary, the Brexit talks’ lack of progress limited any additional gains in the currency pair. At a particular time, the GBP/USD currency pair is currently trading at 1.3200 and consolidating in the range between 1.3200 – 1.3255. 

At the data front, the U.K. retail sales arrived at +3.6% over the month in July. Vs +2.0% expected and +13.9% previous. While the core retail sales, stripping the auto motor fuel sales, unchanged at +2.0% MoM vs. +0.2% expected and +13.5% previous. Annually, the U.K. retail sales remained unchanged at +1.4% in July vs. 0.0% expected and -1.6% while the core retail sales also increased to +3.1% in the reported month against +1.5% expectations and +1.7% previous.

Across the pond, the uncertainty over the next round of the U.S. fiscal stimulus measures, and the unexpected rise in the U.S. Initial Weekly Jobless Claims, both factors have fueled the concerns about the U.S. economic recovery. At the data front, the U.S. showed that 1.106 million Americans claimed unemployment benefits during the previous week, exceeding the anticipated 925,000 claims as well as last Thursday’s 971,000 figure. 

In the meantime, the U.S. House Speaker Nancy Pelosi recently took a U-turn from her previous positive remarks over the COVID-19 relief bill and said that it was not the right time for a small stimulus package. In turn, this undermined the already weak U.S. dollar and remained supportive of the bid tone surrounding the GBP/USD currency pair.

However, 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 by 0.9% to 92.692 by 10:13 PM ET (3:13 AM GMT).

At the Brexit front, the Brexit talks’ lack of progress kept the currency pair trader cautious. It is worth recalling that the 7th-round of Brexit talks failed to give any clue over the tough issues like fisheries and a level playing field. Looking forward, the market traders will keep their eyes on the UK PMI prints for some significant direction in the pair. As well as, the U.S. preliminary readings of August month PMIs will also be key to watch. In the meantime, the headlines concerning the US COVID-19 aid package, virus figures, and Sino-American trade can also impact the pair’s movement.


The GBP/USD is falling dramatically from 1.3157 level to 1.3060 level. It has already disrupted the upward trendline support mark of 1.3135 level. The creation of three black crows pattern reinforces robust bearish bias for the GBP/USD pair. Anyhow, we are already out at a profit and closed profit. For now, we should look for buying trades at over 1.3062 level. Good luck! 

Categories
Forex Signals

GBP/USD Set for Bearish Correction – Brace for Sell Signal

The GBP/USD currency pair remains on the bullish track and taking rounds around above the mid-1.3200 level, mainly due to the hotter-than-expected U.K. consumer inflation figures, which initially underpinned the Pound sterling and contributed to the currency pair gains. On the other hand, the broad-based U.S. dollar fresh weakness, backed by the upbeat market mood, also played its role in gaining positive traction for the currency pair.

The GBP/USD currency pair remains on the bullish track and taking rounds around above the mid-1.3200 level, mainly due to the hotter-than-expected U.K. consumer inflation figures, which initially underpinned the Pound sterling and contributed to the currency pair gains. On the other hand, the broad-based U.S. dollar fresh weakness, backed by the upbeat market mood, also played its role in gaining positive traction for the currency pair.

The GBP/USD currency pair remains on the bullish track and taking rounds around above the mid-1.3200 level, mainly due to the hotter-than-expected U.K. consumer inflation figures, which initially underpinned the Pound sterling and contributed to the currency pair gains. On the other hand, the broad-based U.S. dollar fresh weakness, backed by the upbeat market mood, also played its role in gaining positive traction for the currency pair.

Apart from this, the currency pair bullish bias could also be associated with the reports that suggest the improvement over Brexit talks, which eventually underpinned the pound and sent the GBP/USD pair to the highest level since January during the Asian session on the day. On the contrary, the British Chamber of Commerce’s negative comment about the U.K. economic recovery becomes the key factor that ket he lids on any additional gains in the currency pair.

At a particular time, the GBP/USD currency pair is currently trading at 1.3233 and consolidating in the range between 1.3230 – 1.3268. However, the pair’s traders seem cautious to place any strong bids ahead of Wednesday’s release of the FOMC meeting minutes.

At the data front, the headline UK CPI increased 1.0% YoY in July vs. +0.6% expected. In the meantime, the core inflation gauge (excluding volatile food and energy items) exceeded expectations and arrived at +1.8% YoY during the reported month, up from the 1.4% increase in June. However, this positive data initially boosted the sentiment around the sterling.

At the Brexit front, the British diplomats are showing a willingness to compromise on Brexit talks by September without citing any strong pieces of evidence. However, the gains in the currency pair were further bolstered by the improving sentiment on Brexit talks.

The upbeat market sentiment initially got boosted amid the reports that the U.S. Congress is finally reaching a consensus over the latest stimulus measures. Despite this, the uncertainty over the next round of the U.S. fiscal stimulus measures remains on the cards as the agreed figures as Republicans agreed to reach an agreement with Democrats for their proposed only $500 billion packages. These figures are considerably less than the amount that Democrats were expecting. This, in turn, the broad-based U.S. dollar lost its early-day gains.

However, the market trading still flashing green amid optimism over a potential vaccine for the highly infectious coronavirus, which also weighed on the U.S. dollar and contributed to the currency pair gains.

At the USD front, the broad-based U.S. dollar failed to maintain its early-day gains and dropped once again as doubts over the U.S. economic recovery fueled again amid lack of progress over the coronavirus stimulus package. However, the losses in the U.S. dollar helped the currency pair to take bids on the day. Whereas, the U.S. Dollar Index that tracks the greenback against a basket of other currencies was down near 92.263.

On the negative side, the British Chamber of Commerce said in the latest Business Tracker report, that the U.K. firms were facing cashflow problems amid post coronavirus pandemic slow recovery. However, these gloomy updates turned out to be major factors that capped further upside for the currency pair.


The GBP/USD has entered the overbought zone at 1.3268 level. Therefore, we have applied the Fibonacci indicator on the 4-hour timeframe. Closing of candles below 1.3268 level is likely to drive selling trend or bearish correction until 38.2% and 61.8% Fibo level of 1.3189 and 1.3147, respectively.

Entry Price – Sell 1.32201
Stop Loss – 1.32601
Take Profit – 1.31801
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/CHF Hit The Multi-Year Lows Near 0.9037 – Update on Signal! 

During Tuesday’s European trading session, the USD/CHF currency pair failed to stop its previous session bearish moves and dropped to fresh multi-years low just around the 0.9035, mainly due to the broad-based U.S. dollar weakness. That was triggered by the disappointing U.S. economic data and worries that the second wave of COVID-19 cases in the United States could ruin the recovery in the world’s biggest economy. 

During Tuesday’s European trading session, the USD/CHF currency pair failed to stop its previous session bearish moves and dropped to fresh multi-years low just around the 0.9035, mainly due to the broad-based U.S. dollar weakness. That was triggered by the disappointing U.S. economic data and worries that the second wave of COVID-19 cases in the United States could ruin the recovery in the world’s biggest economy. 

During Tuesday’s European trading session, the USD/CHF currency pair failed to stop its previous session bearish moves and dropped to fresh multi-years low just around the 0.9035, mainly due to the broad-based U.S. dollar weakness. That was triggered by the disappointing U.S. economic data and worries that the second wave of COVID-19 cases in the United States could ruin the recovery in the world’s biggest economy. 

The on-going doubts over the U.S. Stimulus Package also weighed on the American currency and contributed to the pair losses. On the other hand, the concerns about strengthening the US-China tussle weighed on the market trading sentiment, which supported the safe-haven Swiss francs and contributed to the USD/CHF pair’s declines the lowest level since January 2015. At this particular time, the USD/CHF currency pair is currently trading at 0.9052 and consolidating in the range between 0.9037 – 0.9069.

Due to the pretending reduction in coronavirus cases by decreasing testing, the worries about the U.S. economic recovery still hover all over the market and keep the U.S. dollar bulls defensive. Apart from the U.S., the coronavirus cases in Europe also increasing day by day. As per the latest report, the reported number of coronavirus cases increased to 225,404 with a total of 9,236 deaths so far. Whereas, the cases increased by 1,390 in Germany on the day against the previous day +738. At the same time, the death losses rose by 4, according to the report of German disease and epidemic control center, Robert Koch Institute (RKI). This, in turn, benefitted the Swiss franc’s safe-haven currency and contributed the pair losses.

Elsewhere, the risk-off market sentiment was further bolstered by the long-lasting disappointment over the lack of progress in the much-awaited fiscal package. As well as, the on-going tussle between the United States and China became sourer after the suspension in the bi-deal annual trade review with China. It is worth reporting that the Trump administration keeps increasing the hardships for China’s companies by imposing punitive measures on Chinese 38 facilities from Huawei, which exerted a very downside impact on the market and overshadowed optimism over a potential vaccine for the highly infectious coronavirus infections.

As a result, the broad-based U.S. dollar failed to gain any positive traction on the day and reported losses as the U.S. Congress’s inability to reach an agreement for the U.S. latest COVID-19 stimulus package kept the investors defensive. However, the losses in the U.S. dollar kept the USD/CHF currency pair bearish. Whereas, the U.S. Dollar Index that tracks the greenback against a basket of other currencies was down 0.22% to 92.642 by 12:21 AM ET (5:21 AM GMT).

The market players will closely follow the release of the Building Permits and Housing Starts. However, this data usually does not leave any major impact on the currency pair. At the important front, the release of the latest FOMC meeting minutes will be key to watch.


The USD/CHF has violated the triple bottom support level of 0.9064 and the closing of candles below this is supporting the solid potential for further bearish bias. Therefore, we are looking to target 40 pips until 0.8990 to take a profit level.

Entry Price – Sell 0.9049
Stop Loss – 0.9099
Take Profit – 0.8999
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 Signal Hits Stop Loss – What’s Next to Expect? 

On Thursday, the precious metal gold firmed above $1,900 as the dollar declined, with bargain hunters posting on a resumption of bullion’s broader upwards trend brought by its recent steep slide from a record peak. On the positive side, U.S. President Donald Trump showed too much optimism about the U.S. economy during the White House press conference on early Thursday morning in Asia. As per Trump’s keywords, “U.S. economic performance significantly better than Europe.” 

On Thursday, the precious metal gold firmed above $1,900 as the dollar declined, with bargain hunters posting on a resumption of bullion’s broader upwards trend brought by its recent steep slide from a record peak. On the positive side, U.S. President Donald Trump showed too much optimism about the U.S. economy during the White House press conference on early Thursday morning in Asia. As per Trump’s keywords, “U.S. economic performance significantly better than Europe.” 

On Thursday, the precious metal gold firmed above $1,900 as the dollar declined, with bargain hunters posting on a resumption of bullion’s broader upwards trend brought by its recent steep slide from a record peak. On the positive side, U.S. President Donald Trump showed too much optimism about the U.S. economy during the White House press conference on early Thursday morning in Asia. As per Trump’s keywords, “U.S. economic performance significantly better than Europe.” 

He also said, ” We’re doing amazingly well with the coronavirus (COVID-19) and therapeutics.” However, these positive statements helped the equity market limit its deeper losses and capped the further upside for the yellow metal prices. On the positive side is the Republican leader’s willingness to cut payroll taxes after the November month elections. 

Meanwhile, the upbeat market performance could also be associated with the reports that President and CEO of the Federal Reserve Bank of Dallas Robert Steven Kaplan keep pushing the government for further unemployment benefits while refraining from imposing any lockdowns retractions. At the coronavirus front, the COVID-19 cases remain on the card and continue to affect the U.S. economic recovery. As per the latest report, the figures have crossed almost 5.2 million cases in the U.S. alone as of August 13, as per the Johns Hopkins University and millions unemployed.

Considering the failure of agreeing on the coronavirus (COVID-19) relief package, the broad-based U.S. dollar was down on Thursday morning in Asia. Although market investors have stuck between optimism and uncertainty over the delayed package, some claimed that U.S. economic recovery depended on both sides reaching an agreement. Moreover, the weaker U.S. dollar could also be associated with the on-going doubt about the U.S. economic recovery amid intensifying coronavirus cases. Whereas, the losses in the U.S. dollar become the key factor that kept the gold prices supportive as the price of gold is inversely related to the U.S. dollar price. 


Speaking about the signal, it was doing pretty well as we tried to trade the choppy session within 1,953 – 1,910 level. Unfortunately, the market reversed right before hitting our take profit. Our stop loss was too tight, considering the current level of volatility in the market. For now, the precious metal is trading at 1,930, and the upper and lower boundary of 1,953 to 1,910 level is providing resistance and support, respectively. You can either take a sell trade below 1,953 level or buy trade over 1,910 support. Good luck! 

Categories
Forex Signals

EUR/USD Downward Channel Continues to Drive Selling


Entry Price – Sell 1.17411
Stop Loss – 1.17811
Take Profit – 1.17011
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 Triple Bottom Breakout Confirmed – Second Signal In Play!

The yellow metal prices extended its previous day losing streak and took offer near $2,014 level due to the risk-on market sentiment, supported by the expectations of a next U.S. stimulus, which boosted the market trading sentiment and undermined the safe-haven demand in the market.

On the other hand, the ongoing struggle between the United States and China continues to simmer, which became the key factor that helped the safe-haven gold limit its deeper losses. The broad-based U.S. dollar weakness, in the wake of upbeat trading sentiment, also capped losses for the yellow metal. While the ever-rising number of COVID-19 cases also urge investors to take shelter into safe-haven assets. The yellow metal prices are currently trading at 2,015.01 and consolidating in the range between 2,013.17 and 2,030.05. Despite many factors portraying the rush to risk-safety, the market players just giving attention to the optimism that the U.S. Congress reached closer to an agreement over the latest COVID-19 stimulus measures that caused a rebound in U.S. bond yields.

Despite the ongoing tussle and tit-for-tat responses between the US-China, the trade deal remains intact, as investors are awaiting a meeting between top U.S. and Chinese trade officials on Saturday to examine the first 6-months of the Phase 1 trade deal. On the contrary, the Dragon Nation imposed sanctions on 11 U.S. policymakers that include two Senators yesterday, in return to the U.S.’ move last week sanctioning 11 Chinese officials and their allies in Hong Kong. However, these gloomy headlines helped safe-haven metal to limit its further downside momentum.

Also challenging the risk-on market sentiment was the COVID-19 crisis. As per the latest report, the COVID-19 crossed over 20 million cases reported as of August 11, as per the Johns Hopkins University data. But Texas, New York, and California reported declining numbers of hospitalizations.

Elsewhere, U.S. President Donald Trump tweeted that top congressional Democrats wanted to meet with him over COVID-19 related economic relief. While the U.S. Congress is set to restart discussions on the COVID-19 deal. This, in turn, boosted the market risk sentiment and kept the yellow-metal under pressure. However, the investors now will be awaiting whether the Republicans and the Democrats reach a consensus on the latest stimulus measures.

Moreover, the market risk-on sentiment was further bolstered by U.S. President Trump’s optimism towards the American economy. He said he sees no reason why can’t the economy improve 20% in the 3rd-quarter (Q3). This positive headlines also gave support to the market trading sentiment and contributed to the metal losses.

The market traders still cheering the U.S. President Donald Trump’s action of signing four executive orders to release unemployment claim benefits, help with student loans, and aid for those living in a rented house, which also exerted a positive impact on the market trading sentiment and contributed to the gold losses.

Whereas, signs of economic recovery in China also supported the risk-on market sentiment. China’s consumer price index (CPI) increased 2.7% while its producer price index (PPI) dropped 2.4% in July from a year earlier, as per the National Bureau of Statistics report.

Despite the U.S. Congress reached closer to an agreement over the latest COVID-19 stimulus measures, and U.S. bond yields rebounded, the broad-based U.S. dollar failed to stop its losses and took the further offer on the day as the risk-on market sentiment weighed on the safe-haven U.S. dollar. However, the declines in the U.S. dollar helped the gold prices to limit its deeper 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 dropped 0.06% to 93.537 by 10:01 PM ET (3:01 AM GMT).

Due to the lack of major data/events on the day, the market traders will keep their eyes on the USD price dynamics and coronavirus stories, which will play a key role in driving gold prices. As well as, the traders will keep their eyes on the news concerning U.S./China.

The precious metal gold’s bearish bias continues to drive it’s priced lower towards 1,972 level. Fortunately, we have already secured around 200 pips in gold and now, we are looking for another good point to take a buy trade in gold. For now, the precious metal may find support at 1,960 levels and resistance at 1,985. Let’s wait for market to settle down to secure the next trade.


Entry Price – Sell 2006.28
Stop Loss – 2006.26 (Breakeven Stop Loss)
Take Profit – 1998.78
Risk to Reward – 1:1
Profit & Loss Per Standard Lot = -$600/ +$600
Profit & Loss Per Micro Lot = -$60/ +$60

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Forex Signals

Gold Sideways Movement Continues – Stronger NFP Keeping Dollar Stronger!

Today in the early Asian trading session, the yellow metal prices extended its late-Friday pullback and moved below $2,030. Let me remind you, the gold prices fresh losses can be considered as an extension to Friday’s losses that were the highest in 2-months. The reason could be associated with fresh risk-on market sentiment, supported by Trump’s latest positive statement that refueled hopes of further stimulus. 

Today in the early Asian trading session, the yellow metal prices extended its late-Friday pullback and moved below $2,030. Let me remind you, the gold prices fresh losses can be considered as an extension to Friday’s losses that were the highest in 2-months. The reason could be associated with fresh risk-on market sentiment, supported by Trump’s latest positive statement that refueled hopes of further stimulus. 

Today in the early Asian trading session, the yellow metal prices extended its late-Friday pullback and moved below $2,030. Let me remind you, the gold prices fresh losses can be considered as an extension to Friday’s losses that were the highest in 2-months. The reason could be associated with fresh risk-on market sentiment, supported by Trump’s latest positive statement that refueled hopes of further stimulus. 

As in result, the risk sentiment got a lift while the Asian equities trimmed their losses and held up near-daily highs that urged buyers to invest in riskier assets instead of safe-have assets. The risk-on market sentiment got additional support from upbeat China’s CPI, PPI, for July data. Elsewhere, the broad-based U.S. dollar reported losses on the day despite Friday’s better-than-expected U.S. payrolls report, which helped the bullion prices to limit its deeper losses. Meanwhile, the coronavirus (COVID-19) crisis gradually supported the safe-haven assets and capped its losses. The yellow metal prices are currently trading at 2,029.23 and consolidating in the range between 2,019.85 and 2,036.24.

Earlier today, U.S. President Donald Trump came out with positive news that “Democrats have called and want to get together.” This statement recently boosted hopes of the further stimulus package expired during the last week after policymakers canceled negotiations. However, this move is seen as a major factor that turned risk sentiment positive. Apart from this, U.S. President Donald Trump fulfilled his promise to take executive action as the U.S. Congress failed to offer any outcome over its latest stimulus measures. As a result, U.S. President Trump’s signed four executive orders to release unemployment claim benefits, help with student loans, and aid for those living in a rented house, which also exerted a positive impact on the market trading sentiment and contributed to the gold losses. 

In the meantime, the risk-on market was further bolstered by upbeat China’s CPI, PPI for July data. At the data front, the China July CPI +2.7% YoY (Reuters poll +2.6%). China July PPI -2.4% YoY (Reuters poll -2.5%).

On the negative side, the gloomy updates concerning the US-China tension and the coronavirus (COVID-19) kept challenging the risk-on market sentiment and traders cautious. At the US-China front, the long-lasting tussle between the two biggest economies continued to worsen day by day as Trump banned U.S. firms from doing any business with TikTok, WeChat, or the applications’ Chinese owners in the wake of national security threat. 

The tension between both parties was further bolstered after the U.S. imposed sanctions on senior Hong Kong and Chinese officials, including Hong Kong’s Chief Executive Carrie Lam, during last week. In the meantime, the White House National Security Adviser Robert O’Brien blamed China while saying that the “Chinese hackers have been targeting U.S. election infrastructure ahead of the 2020 presidential election.”

Also challenging the risk-on market sentiment was the COVID-19 crisis. As per the latest report, the U.S. crossed the grim milestone of five million COVID-19 cases as of August 10, according to Johns Hopkins University.

Whereas Australia’s 2nd-most populous state, the pandemic epicenter, Victoria, reported the biggest single-day rise in deaths. As per the latest figures, Australia’s coronavirus death losses crossed 314 as Victoria announces a daily record of 19 deaths and 322 new cases in the past 24 hours. Friday’s better-than-expected U.S. payrolls report also supported the risk-on market sentiments report. At the data front, the Non-farm payrolls increased by 1.763 million in July, against the predicted 1.6 million increase. In the meantime, the unemployment rate also dropped to 10.2% in July, vs. June’s reading of 10.5%.

Despite this, the broad-based U.S. dollar failed to stop its losses. It took the further offer on the day as the United States still facing virus woes. It struggled to control a spike in coronavirus cases, which fueled fears that U.S. economic recovery from COVID-19 has diminished. As well as, the risk-on market sentiment also weighed on the American currency. However, the losses in the U.S. dollar helped the gold prices to stay higher 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 dropped by 0.11% to 93.308 by 10:16 PM ET (3:16 AM GMT).

Due to mixed headlines, the S&P 500 Futures failed to offer any clear direction while stocks in Australia and New Zealand stayed moderately positive. Moreover, the U.S. 10-year Treasury yields avoid moving as Japanese traders enjoy holiday due to Mountain Day.


Daily Support and Resistance

Support Pivot Resistance
2019.8600 2027.4300 2035.9600
2011.3300 2043.5300
2003.7600 2052.0600

Gold is trading at 2034 level, and it has settled a Doji candle over the 2023 support zone. At the same time, resistance lingers at the 2036 level. Over this, gold prices can rise towards 2063 level, and bearish breakout of 2023 level can directly sell unto the 1998 level. We managed to close 29.6 green pips during the Asian session today, but the second signal later ended up in loss. Let’s wait for more signals later today. Good luck!