Trading Ideas

Fri, 13 Nov 2020 11:26:22 GMT

GBP/USD follows hourly SMAs

As expected, on Thursday, the GBP/USD reached the support of the 200-hour simple moving average. At the 1.3100/1.3120 level. This resulted in a surge, which by the middle of Friday's trading reached the resistance of the 55 and 100-hour simple moving average near 1.3190. Economic Calendar On Friday, the US Producer Price Indices are scheduled to be released at 13:30 GMT. The

Fri, 13 Nov 2020 09:46:06 GMT

EUR/USD could surge

On Friday morning, the EUR/USD traded sideways above the 1.1800 mark. However, the rate had passed the resistance of the 100-hour SMA. In addition, the pair was being approached by the support of the 200-hour SMA. In regards to the near term future, the currency exchange rate was expected to surge due to the support of the 55 and 200-hour

Thu, 12 Nov 2020 11:34:53 GMT

Gold trade sideways

The price for gold has been reached by the resistance of the 55-hour simple moving average, which began to provide resistance. By the middle of Thursday's GMT trading hours, the SMA kept the price of gold trading sideways near 1,870.00. Economic Calendar Analysis On Thursday, at 13:30 GMT USD pairs could move because of the release of the US Consumer Price Index

Thu, 12 Nov 2020 11:26:09 GMT

USD/JPY continues to trade sideways

The USD/JPY currency exchange rate made an attempt to pass the post Pfizer vaccine surge high. The pair failed at this and returned to trade below 105.50. In the meantime, the 55-hour simple moving average had caught up with the rate. Economic Calendar On Thursday, at 13:30 GMT USD pairs could move because of the release of the US Consumer Price Index

Thu, 12 Nov 2020 11:14:28 GMT

GBP/USD retreats below 1.3200

On Thursday, the GBP/USD currency exchange rate retreated to trade below the 100-hour simple moving average. The SMA was providing resistance at the 1.3200 level. In the meantime, the currency exchange rate had no technical support as low as the 1.3100 level, where the 200-hour SMA was located at. Economic Calendar On Thursday, at 13:30 GMT USD pairs could move because of

Thu, 12 Nov 2020 10:14:56 GMT

EUR/USD finds support in 1.1750

On Thursday, the EUR/USD surged, as it found support in the 1.1760 level. In the meantime, note that the 1.1750 stopped the rate's Wednesday's decline. By the middle of Thursday's European trading hours, the EUR/USD passed the resistance of the weekly pivot point at 1.1790 and the 55-hour SMA at 1.1798. Next resistance was the 100-hour SMA. Economic Calendar Analysis During the

Wed, 11 Nov 2020 12:07:54 GMT

Gold trades sideways

The yellow metal has been trading sideways between 1,870.00 and 1,890.00 since the coronavirus vaccine caused drop. However, on Wednesday the commodity price was being approached by the resistance of the 55-hour simple moving average. Economic Calendar Analysis On Thursday, at 13:30 GMT USD pairs could move because of the release of the US Consumer Price Index and the Unemployment Claims. On Friday, the

Wed, 11 Nov 2020 11:59:15 GMT

USD/JPY trades between 105.00 and 105.50

The USD/JPY currency exchange rate has continued to trade sideways between 105.00 and 105.50 since the fundamental surge that occurred on Monday. In regards to the near term future, the rate was expected to receive support from the 55-hour SMA. Economic Calendar On Thursday, at 13:30 GMT USD pairs could move because of the release of the US Consumer Price Index and

Wed, 11 Nov 2020 11:45:58 GMT

GBP/USD traders go short

The GBP/USD has reached the 1.3300 level on Wednesday morning. The rate touched the level before retreating back to the support of the 1.3250 mark. In regards to the near term future, the rate was set to trade sideways until the additional support of the 55 and 100-hour simple moving averages catch up. Economic Calendar On Thursday, at 07:00 GMT pay attention

Wed, 11 Nov 2020 11:33:54 GMT

EUR/USD drops below 1.1800

Tuesday's scenarios did not become reality, as a sharp two hour decline prior to mid-day Tuesday GMT trading hours occurred. During the decline, the rate passed the support of the 100-hour SMA and the 1.1800 mark. At the middle of Wednesday's European trading hours, the currency exchange rate was located below the 1.1790 level, where a weekly simple pivot point

Tue, 10 Nov 2020 11:08:45 GMT

Gold traders remain long

On Monday, the price for the yellow metal plummeted more than 100 USD per ounce or 5.53%. The surge was caused by news from a public company. Pfizer announced that its Covid-19 vaccine was effective in more than 90% of cases in a large scale study. This event caused a risk on sentiment. Safe haven assets like the Japanese Yen

Tue, 10 Nov 2020 10:43:10 GMT

USD/JPY traders take profits

On Tuesday, the USD/JPY traded above the 105.00 level, which appeared to provide support to the currency exchange rate in the aftermath of the prior jump. The USD/JPY currency exchange rate jumped 236 pips or 2.29%. The surge was caused by news from a public company. Pfizer announced that its Covid-19 vaccine was effective in more than 90% of cases in

Tue, 10 Nov 2020 10:13:46 GMT

GBP/USD breaches 1.3200 mark

On its fifth attempt on Tuesday, the GBP/USD passed the resistance of the 1.3200 mark. This resulted in a surge, which sharply aimed at the weekly R1 simple pivot point at 1.3270. The rate was pushed through the resistance of the 1.3200 level due to the support of the 55-hour simple moving average. Economic Calendar On Thursday, at 07:00 GMT pay attention

Tue, 10 Nov 2020 09:40:52 GMT

EUR/USD bounces off 1.1900

The resistance of the 1.1900 level held on Monday, as the rate bounced off it after a last attempt to clearly pass it. This resulted in a decline, which pushed through the support of the 55-hour simple moving average. The decline ended at the 1.1800 mark, which was supported by the 100-hour simple moving average. Economic Calendar Analysis During the week,

Mon, 09 Nov 2020 18:38:18 GMT

DUK+/EUR trades above 1.5500

During the last week, the DUK+/EUR currency exchange rate has fluctuated sideways between the 1.5700 and 1.6000 levels. In the meantime, notable buy and sell order clusters were located five pips below and above the rate. Daily Candle Chart On the daily candle chart, the rate had no close by technical resistance or support of the monthly simple pivot points. That

Mon, 09 Nov 2020 13:09:46 GMT

Gold drops on Pfizer news

Gold plummeted on Monday, as risk on sentiment took over the markets. The sentiment was caused by news from Pfizer that it had finished testing its coronavirus vaccine and it is effective in more than 90% of cases. The drop of the yellow metal found support in the monthly pivot point at the 1,901.26 level. Economic Calendar Analysis On Thursday, at 13:30 GMT

Mon, 09 Nov 2020 12:38:52 GMT

USD/JPY jumps on fundamentals

On Friday, the USD/JPY stopped its decline at the 103.20 level. On Monday, a surge started from this level. At mid-day, the surge escalated into a jump due to fundamental news. The USD/JPY currency exchange rate jumped 81 pips or 0.78%. The surge was caused by news from a public company. Pfizer announced that its Covid-19 vaccine was effective in more

Mon, 09 Nov 2020 11:41:59 GMT

GBP/USD reaches 1.3200 mark

The GBP/USD reached the 1.3200 mark on Monday morning. However, immediately after touching this high level, the rate retraced down to the support of the 55-hour simple moving average. The near term future forecasts were based upon whether or not the 55-hour SMA manages to push the pair up. Economic Calendar On Thursday, at 07:00 GMT pay attention to the UK Preliminary

Mon, 09 Nov 2020 10:58:50 GMT

EUR/USD trades at 1.1900

The EUR/USD reached the 1.1900 mark, as expected. Although, no notable moves occurred in the aftermath of reaching the resistance level, as the rate began to trade sideways just below it. In the near term future, the rate could be pushed up by the support of the 55-hour simple moving average. Economic Calendar Analysis During the week, on Thursday, at 13:30 GMT

Fri, 06 Nov 2020 12:54:08 GMT

Gold trades above 1,950.00

The surge of the yellow metal continues, as all safe haven assets gain during the ongoing sell off of the US Dollar. By the middle of Friday's GMT trading hours, the pair had broken the resistance of the 1,950.00 mark. In the near term future, the metal should continue to surge, as it had no technical resistance and the ongoing

Fri, 06 Nov 2020 12:35:31 GMT

USD/JPY breaks triangle pattern

The USD/JPY has broken out of the descending triangle pattern, the rate is heading down. At mid-day on Friday, the pair was aiming at the 103.00 level. However, take into account that the decline could be slowed down by the weekly S3 simple pivot point at 103.10. Economic Calendar On Friday, the US are publishing their monthly employment statistics. Among them will

Fri, 06 Nov 2020 12:19:21 GMT

GBP/USD trades sideways

The surge of the GBP/USD managed to pass the resistance of the 1.3100 level. However, the surge was stopped by the 1.3150 level, which had close by the resistance of the weekly R2 simple pivot point at 1.3170. In the meantime, it was spotted that on Friday morning, the 1.3100 mark had started to provide support, as a retracement down

Fri, 06 Nov 2020 11:44:26 GMT

EUR/USD breaks large scale pattern

The 1.1850 level provided the EUR/USD currency exchange rate with resistance throughout Thursday. However, on Friday morning, the currency exchange rate passed this level and aimed at the 1.1900 mark. Future forecasts were based upon what would happen at the 1.1900 mark. Economic Calendar Analysis On Friday, the US are publishing their monthly employment statistics. Among them will be the Average Earnings,

Thu, 05 Nov 2020 13:17:50 GMT

Gold tests resistance near 1,930.00

Gold managed to pass the resistance of the 1,915.00 level on Thursday morning. The rate eventually reached the monthly pivot point at 1,928.54, which paused its decline at mid-Thursday. Near term future forecasts were based upon what would happen at the pivot point. Economic Calendar Analysis On Thursday, expect the weekly US Unemployment Claims to cause a minor move at 13:30 GMT. Later

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