Technically speaking, the GBP/JPY has already completed 61.8% retracement at 142.250. The same level is working as a solid hurdle for the pair. Taking a look at the 4- hour chart, you can see Japanese cross has formed a bearish candle exactly after testing 61.8% retracement level. Is it a signal of bearish reversal? Well, time will tell. But it's worth taking a...
For the moment, the EUR/JPY is facing resistance below 20 periods moving average at 126.850. The violation of this resistance can extend the bullish momentum to 127.500, which marks a 61.8% Fibonacci Retracement level. That’s the level where I will be looking to take a sell position today. Stay tuned to FX Leaders’ Forex Signals page for more updates!
Technically, the AUD/USD is still stuck in the narrow trading range of $0.7270 - $0.7285. On the 4- hour chart, the commodity currency is trading in the oversold zone which is signifying a potential for a bullish retracement. Aussie is very likely to go after 23.6% Fibonacci retracement level of 0.7300, and 38.2% Fibbo level of 0.7335 today.
USD/CAD – Trading Plan Traders are advised to keep a closer eye on $1.3150 as above this level the USDCAD can stay bullish until $1.3180. The bearish violation of $1.3150 can lead the pair towards $1.3130. Good luck and stay tuned as more trade setups are on the cards…
Overall, the trend of the yellow metal is bearish, as you can see gold prices are trading below 100 periods moving average. Moreover, the RSI and Stochastic are also holding near 20 (below 50), signaling bearish sentiment of investors. Let’s say, if the CPI figures disappoint, we may see a bullish reversal in gold, especially if it continues to trade above $1,207...
Crude oil is holding in an oversold region. The series of doji and spinning top candlestick patterns are suggesting a potential of bullish retracement. But it will depend upon $66.50. Above this, the market can go after 38.2% retracement level of $67.45. The bearish breakout of $66.50 can extend sell-off until $65.75. All the best and trade with care...
Looking at the intra-day chart of DXY, you can see the dollar index has reached below a major horizontal resistance level of $95.45. Actually, it's a part of ascending triangle pattern which earlier extended bullish trend to the dollar above $94.45.
WTI Crude Oil - Trade Idea Today the idea is to keep a close eye on $69.45 as we can see a bearish trend below this. The bullish breakout can lead the price towards $70.40. Good luck!
Gold – XAU/USD – Trade Idea Today, the idea is to stay bearish below $1,220 to target $1,214/13 with a stop near $1,222. Good luck!
GBP/USD – Trade Idea Investors are advised to keep a close eye on $1.3090, below this, the GBP/USD can give us a selling opportunity to target $1.3025 and $1.2965. While, above this (1.3090), the pair can stay bullish until $1.3170 and $1.3220. Good luck!
Crude Oil Trading Plan Our forex trading signal is to stay bearish below $68.40 with a stop below $68.60 and a take profit of $67.85. Good luck!
Crude Oil Trading Plan Our forex trading signal is to stay bearish below $68.40 with a stop below $68.60 and a take profit of $67.85. Good luck!
EUR/JPY - Trading Idea We are already in trade and our trading signal is aiming for 130.65 with a stop loss at breakeven at 130.04. All the best!
Gold has already crossed over 100 periods of MA which is likely to provide it support near $1,228 today. The violation of $1,228 can lead gold prices towards $1,225 and $1,222. Good luck!
Gold - XAU/USD - Trading Plan As a result of bearish engulfing, we opened a forex trading signal to stay bearish below $1,231 with a stop above $1,234 and take profit at $1,227. The market may exhibit thing volatility but we need to keep the patience to get out target price. Good luck!
USD/CAD - Trading Plan Investors are advised to keep an eye on $1.3125, below this the USD/CAD is likely to stay bearish. Whereas, the pair can stay bullish above $1.3125 until $1.3250. Good luck!
I would also like you to notice the ascending triangle pattern which is providing resistance at $1.3350. The ascending triangle patterns indicate the bullish bias of traders and typically break on the upper side. The USD/CAD can find an immediate resistance near $1.3285 and $1.3350. The violation of $1.3350 can lead commodity currency towards $1.3550. Ahead of...
Bitcoin is trading with a bullish bias after coming out of an asymmetric triangle pattern. The pattern was providing a solid resistance near $6,800. For the moment, BTC/USD can face an immediate resistance near $7,735. The violation of this level is likely to open further room for buying until $8,335.