Trading Ideas

Mon, 28 Oct 2024 21:25:50 GMT

Gold reaches above 2,750.00

In general, the price of gold has broken the channel up pattern on October 23. Afterwards, support was found, before the decline reached the 2,700.00 mark. Since then, the metal has been recovering. However, the metal faces resistance and finds support in round price levels. Economic Calendar Analysis This week, the market might move due to the combined release of the US

Mon, 28 Oct 2024 21:17:49 GMT

USD/JPY continues to recover

The latest surge of the USD/JPY has been attributed to fundamental events. However, it has been noticed that the currency pair has been surging in two channel up patterns for most of October. Most recently, the pair found support in a range at 152.37/152.47, the 50-hour simple moving average and the lower trend line of the channel up. Economic Calendar This week,

Mon, 28 Oct 2024 21:04:32 GMT

GBP/USD broader decline continues

Last week, the GBP/USD declined below the 1.3000 mark. Since then, the pair has been finding support in 1.2900 and 1.2940 and testing the resistance of 1.3000. In the meantime, it has been observed that the rate has been ignoring the weekly simple pivot points and the hourly simple moving averages. Economic Calendar This week, the market might move due to the

Mon, 28 Oct 2024 20:50:44 GMT

EUR/USD continues descend

The 1.0800 mark was passed, during the prior week. However, support was found in the 1.0760 and 1.0780 levels. By the start of this week, the rate was trading near the 1.0800 mark, respecting technical levels around it. Economic Calendar Analysis This week, the market might move due to the combined release of the US CB Consumer Confidence and the JOLTS Job

Mon, 21 Oct 2024 16:13:42 GMT

Gold encounters resistance in pattern's border

The price of gold continues to move higher. By mid-Monday, the price was far above the 2,700.00 mark. However, the metal appears to have encountered resistance in the 2,740.00 level and the upper trend line of a channel up pattern. Economic Calendar Analysis On Thursday, at 13:45 GMT, the US S&P Global Manufacturing and Services PMIs will be published. The survey results

Mon, 21 Oct 2024 15:42:58 GMT

USD/JPY breaks 100-day SMA

The USD/JPY reached above the 150.00 mark on October 17. However, resistance was found near 150.30. This level caused a decline of the rate down to the support and resistance range that surrounds the 149.00 level. The 149.00 provided support and by mid-Monday the rate was heading back to 150.30. Economic Calendar On Thursday, at 13:45 GMT, the US S&P Global Manufacturing

Mon, 21 Oct 2024 15:33:23 GMT

GBP/USD remains near 1.3000

After the high impact week that was caused by UK data releases, the pair has returned to trade near the 1.3000 mark. In the near term future, the pair could look for support in the round level. Economic Calendar This week, notable events for the rate are scheduled for Thursday. At 08:30 GMT, the S&P Global Purchasing Managers Index survey results for

Mon, 21 Oct 2024 15:15:38 GMT

EUR/USD bounces off 200-day SMA

In the aftermath of the ECB events, the EUR/USD has revealed a support and resistance range. Support is located at 1.0810/1.0815. Resistance is at 1.0870/1.0875. On Monday, the rate bounced off the resistance range that was strengthened by the 100-hour simple moving average and the weekly simple pivot point at 1.0871. However, by midday it appeared that support was found in

Wed, 16 Oct 2024 15:40:51 GMT

Gold is back at high level

The price for gold has managed to find support in 2,640.00 and the 200-hour simple moving average. The follow-up surge broke the 2,670.00 level, and it resulted in another test of the all-time high levels at 2,685.40. In the meantime, the range that surrounds the 2,670.00 mark has turned into support. Economic Calendar Analysis From the US Dollar's side, the markets could

Wed, 16 Oct 2024 15:34:46 GMT

USD/JPY finds resistance at 150.00

The 150.00 mark has held, and a decline has occurred. The decline has passed below the 149.50 level and the combination of the 50 and 100-hour simple moving averages. However, it appears that the 149.00 level, despite being pierced, has provided support. Economic Calendar From the US Dollar's side, the markets could react on Thursday at 12:30 GMT to the publication of

Wed, 16 Oct 2024 15:10:43 GMT

GBP/USD dropped due to UK CPI

The GBP/USD fluctuated sideways and even recovered on Tuesday to the 1.3100 mark. However, on Wednesday morning, the UK CPI was published. Inflation in the United Kingdom is even lower than expected. Monthly inflation measured year-on-year is just 1.7% instead of the expected 1.9%. Moreover, it is a decline from 2.2% in the prior month. Economic Calendar On Thursday, watch the US release

Wed, 16 Oct 2024 14:52:51 GMT

EUR/USD is below 1.0900

The support of the 1.0900 has failed. In the aftermath of the event, the rate is confirming the level as resistance. From a fundamental perspective, the EUR/USD is waiting for the ECB announcement that is set for Thursday afternoon. Economic Calendar Analysis This week, the top event will be the Thursday's European Central Bank interest rate announcement at 12:15 GMT. The Euro

Mon, 14 Oct 2024 17:12:18 GMT

Gold manages to recover

During the US CPI volatility, the price of gold almost touched the 2,600.00 mark. However, the price recovered after the event and by Monday almost hit the 2,670.00 level. However, a decline occurred during midday as the surge appeared to be overextended. Economic Calendar Analysis From the US Dollar's side, the markets could react on Thursday at 12:30 GMT to the publication

Mon, 14 Oct 2024 16:59:06 GMT

USD/JPY reaches new high

The higher than expected US Consumer Price Index has initially created high volatility, but afterwards provided the needed push for the Dollar to surge. On the USD/JPY charts, the pair bounced between 148.50 and 149.50 just after the event. On Monday, the resistance of the 149.50 level was broken, and the rate was heading to 150.00. Economic Calendar From the US Dollar's

Mon, 14 Oct 2024 16:35:12 GMT

GBP/USD reaches 1.3000

The GBP/USD was highly volatile after the publication of the US Consumer Price Index. By the end of the volatility, the rate attempted to recover, but failed near the 1.3080 mark and the 100-hour simple moving average. On Monday, it was observed that the pair could decline as low as 1.3000. Economic Calendar This week, the GBP/USD could react to a number

Mon, 14 Oct 2024 16:10:36 GMT

EUR/USD traders take profits, go long

On Thursday, after the US CPI publication, the EUR/USD found support in the 1.0900 mark. Meanwhile, resistance was provided by the prior support range at 1.0950/1.0955. This week, the pair fluctuated between the two levels, as it consolidated, as indicated by rather flat trading and approaching hourly simple moving averages.In the meantime, it was observed that since Wednesday traders have

Wed, 09 Oct 2024 15:27:38 GMT

Gold decline approaches 2,600.00

The price of gold has passed more support levels. On Wednesday, the metal fluctuated near the 2,600.00 mark. It appeared that the 2,605.00 and 2,610.00 levels were providing support, as the 2,625.00 mark acted as resistance. In the near term future, the commodity price will reveal its direction after the Thursday's US CPI release. As the Dollar picks a direction, so

Wed, 09 Oct 2024 15:21:37 GMT

USD/JPY returns to 149.00

The decline of the USD/JPY found support in the 147.20/147.50 range, before returning to once again test the 149.00 mark. In general, it is assumed that the publication of the US Consumer Price Index will reveal the future direction of the US Dollar, which will impact the currency exchange rate. Economic Calendar On Thursday, the top event of the week will take

Wed, 09 Oct 2024 15:10:51 GMT

GBP/USD is below SMA and 1.3100

Since Monday, the GBP/USD currency pair has been fluctuating between the support of the 1.3050 level and the resistance range near 1.3100. In the meantime, the pair has passed the upper trend line of the channel down pattern. In general, the pair is waiting for the publication of the US Consumer Price Index data. The CPI will show the direction of

Wed, 09 Oct 2024 14:08:07 GMT

EUR/USD waits near 1.1000

Since Friday, the EUR/USD has fluctuated between the support of the 1.0950 level and the resistance of the 1.1000. Meanwhile, the currency pair was ignoring the 50 and 100-hour simple moving averages. Besides these developments, the situation has not changed. Economic Calendar Analysis On Thursday, the top event of the week will take place. At 12:30 GMT, the US Consumer Price Index

Mon, 07 Oct 2024 15:22:36 GMT

Gold trades around 2,650.00

The price for gold has been highly volatile in the range between 2,640.00 and 2,670.00, as various US data sets were being published. In general, the commodity price appears to be consolidating. Economic Calendar Analysis This week, the markets could react to the publication of the US Federal Reserve Meting Minutes on Wednesday at 18:00 GMT. On Thursday, the top event of the

Mon, 07 Oct 2024 15:15:45 GMT

USD/JPY recovery continues

A string of fundamental events has caused a surge of the US Dollar against the Japanese Yen. This week, the rate was declining after hitting resistance at 149.00. Economic Calendar This week, the markets could react to the publication of the US Federal Reserve Meting Minutes on Wednesday at 18:00 GMT. On Thursday, the top event of the week will take place. At

Mon, 07 Oct 2024 14:34:54 GMT

GBP/USD breaks major pattern

The 1.3300 mark held, and a decline occurred throughout the week. In general, one event after another has strengthened the US Dollar, which has resulted in a decline of the GBP/USD as low as the 1.3050 level. Meanwhile, it was observed that the pair faced the resistance of the 50-hour simple moving average. Economic Calendar This week, the markets could react to

Mon, 07 Oct 2024 14:25:59 GMT

EUR/USD decline continues

On Friday, the EUR/USD plummeted due to the US Dollar strengthening that was caused by the much better than expected US monthly employment data. On the EUR/USD charts, it coincided with the pair bouncing off the resistance zone at 1.1040/1.1065 and the 50-hour simple moving average. Afterwards, the pair found support in the 1.0950 level. Economic Calendar Analysis This week, the markets

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