AlgoVenture

AlgoVenture

Gold climbed further just as forecast last week, except that it plunged on the last day and wiped out most gains. Despite so, both the high and closing prices are higher than the previous week and there's no change in the entire market structure. In fact, the price fell just enough to stay supported at a newly formed rising channel. This week, we may attempt to...

AlgoVenture

EURUSD broke above the top of a falling channel and a supply zone at 1.1590, marking an end of the current short-term bearish trend. The market may falling into a ranging market or reverse into a short-term bullish trend towards the top of a 5-month falling wedge. At the same time, the dollar is retreating from its high amid the market has already priced in a...

AlgoVenture

EURUSD has been falling within a falling channel for more than a month. The pair is still showing strong bearish signs as it just broke below another consolidation and fell near the top of the falling channel. Wait for pullback towards the supply level around 1.1560, between FR50% and 61.8%. Target profit aim for 30 to 50 pips.

AlgoVenture

The gold is still in a huge consolidation phase since it peaked at 2075 an ounce. It is notable that the closing prices are getting higher and that the price should be able to make another bull run towards the top of the consolidation. In recent weeks, gold has broken above a falling trendline with a strong rebound and has now pulled back downwards significantly...

AlgoVenture

It's been close to 5 months since EURUSD embarked on a downtrend. The current market conditions favour a bear market both fundamentally and technically. On the technical aspect, the price is trading well below all moving averages where all of the fast MAs are below their slow MAs respectively. The price is now less than a hundred pips from the FR50% level and...

AlgoVenture

GBPUSD has consolidated throughout the entire week and the price is now coming off from the to the range. The price is also seen breaking out from a upwards corrective channel and fell through during the Asian session. It's very likely that the price will continue the trend into the euro session, potentially bringing the price back to the range bottom at...

AlgoVenture

GBPUSD continued to climb through the week after a strong rebound from last Friday. As of yesterday, the recovery snaps as it fell through a rising trendline and broke into a lower low. It is still unsure if the bearish trend has resumed but certainly the recovery has stopped and we can start looking to sell the pullback. We will be waiting for further pullback...

AlgoVenture

The gold climbed further at the beginning of the week, following a strong bullish rebound from last week. By now, there are multiple breakouts of falling trendlines and highs which also resulted in the formation of higher lows and higher highs. We will wait for an opportunity to buy the pullback, expecting the price to retrace to 1755 - 1750 demand level. If it...

AlgoVenture

Gold was trending downwards at first but managed to rebound strongly at 1720. It was managed to break above a falling trendline and created a higher high against two previous lower highs. This is a strong sign that the gold will be able to recover further this week and therefore we can look to buy again if the price does pulls back lower before another...

AlgoVenture

EURUSD has broken below yet another important demand level at 1.1630 and closed with a very bearish weekly candle. The dollar is clearly strengthening amid tightening expectation from the Fed grew stronger. The trend is clearly bearish and thus we will continue to wait for selling opportunities. If the market continues to find support at the beginning of the...

AlgoVenture

Gold has opened to more downside since the weekly demand level 1760 was taken out. We now have little doubt that gold will retest its 14-month demand level just under 1700. Therefore, we plan to keep selling the pullback on every visible short-term downtrend. For today, we will be waiting for the pullback to the trendline at 1744 to sell. A spike or a final...

AlgoVenture

Just did a buy earlier and after the price has gone up, it broke another trendline thus giving us another opportunity to buy the pullback again. GBPUSD has moved 50 pips based on today's swing low to swing high and could go up to 70 pips or more if it's able to trend later. With the current setup, it would be a good to give it a try again later during the US...

AlgoVenture

GBPUSD broke out of a minor range and headed south, essentially reversing the course of a short-term bullish trend. Overall, the market is still seen trading within a range between 1.3960 and 1.3610 and it is most likely to continue heading down towards the bottom. We can also see a symmetrical triangle forming so the rebound from the bottom may take place a...

AlgoVenture

WTI has continued with its bullish trend as it defied a rejection from a falling trendline and went ahead to breakout of it completely. By now, it is becoming clear that the oil market will continue to rise as demand continues to rise as well during this recovery period. This week, we will wait for a pullback beyond 71 and look for a buying opportunity in the...

AlgoVenture

4 months of a bull-run and we finally saw a 2nd consecutive bearish weekly candle. As major central banks work towards tightening of monetary policies, a major correction in the stock market will follow and this could be it. This week, we aim for nothing but sell, awaiting pullback to 15400 - 15450 area. Our final target will be at 14600 for now.

AlgoVenture

The selloff of the gold continued through last week and trades steadily below 1800. A rebound that came last Friday was easily wiped out, essentially trapping more buyers. The market is clearly feeling bearish and we expect a revisit of the 15-month demand at 1700 in the upcoming week or the next. We could still see a potential upside back to 1770 - 1780 area...

AlgoVenture

EURUSD has extended fall last week, resulting in a 2nd consecutive bearish week. The price has now reached a strong demand zone from 1.1730 onwards to 1.1700. At this point, an inverse HnS could still be formed since the right shoulder support isn't completely broken. Besides, the market is already trading at a low of the entire range and there will definitely...

AlgoVenture

The gold fell just a little after a very bullish recovery from the week before amid a strengthening dollar. The gold has ranged throughout the week as it stayed resisted by the supply level at 1795. The dollar has strengthened through the week on a hawkish Fed to start tapering this year and most pairs against the dollar had turned bearish but gold was somewhat...