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As indicated in the chart, there's a possibility of a drop to 66.50. I have highlighted the Sell Zone with an ellipse in my chart.

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AUDUSD seems to have reversed at the PRZ. Sell entries are valid at the PRZ( indicated with an ellipse in my chart). TPs can be set at the Support areas with SL placed above the 100D EMA.

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If you remember my previous idea on GBPUSD, you will know that I mentioned that the 100D EMA can act as a PRZ for GBPUSD. And that is exactly what happened. After touching the 100D EMA, the price reversed lower very strongly. In my opinion, there could be further weakness in GBPUSD in the days to come.

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GBPUSD keeps pushing higher but the recovery doesn't look very convincing. The daily candles are quite small compared to the average daily range during the downtrend which could indicate a change of trend very soon. I am looking at the 1.2650-1.28 area as a Potential Reversal Zone(PRZ). A bearish daily candle in this zone could signal that the recovery has...

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Selling EURUSD at the 1.0980-1.1010 area if it gets rejected after the third touch at the Upper TL could be a viable plan in my opinion. The recent recovery in EURUSD seems pretty weak and a drop to 1.0650 level is not out of the picture yet. However, if EURUSD breaks the 1.10 area strongly then this set-up will no longer be valid.

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GBPAUD is currently in an area where it could bounce up. The confluence of previous trendline support and the 100D EMA can provide support to GBPAUD. This gives us an opportunity to execute Buy orders with great risk: reward ratio.

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AUDCAD has made a very impressive rally after dropping to 0.8070. But, now it is running into plenty of overhead resistances. In the hourly timeframe, AUDCAD is showing weakness despite climbing up. So, I have already placed two sells yesterday ( 0.8890 and 0.8925) with SL above the overhead resistances. I expect AUDCAD to drop to 0.86 level soon.

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In the daily chart, USDCHF seems to have formed a Bullish Pennant Structure. If the Upper TL of the structure breaks, then an uptrend towards 1.0 can not be ruled out.

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In my previous analysis, I mentioned selling at 1725 level and accordingly, I have already sold at 1723. If Gold doesn't break 1725 again, a temporary pullback below 1700 is possible.

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Dear Friends, if you find my analysis helpful, please leave your LIKES and COMMENTS. In my previous Gold Analyses, I mentioned about buying Gold because of the Bullish Flag. As expected, XAUUSD broke out of the Bullish Flag and reached very close to the previous high. Right now, I believe there is a scope for a small correction in Gold. If Gold hits the...

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In my previous BTC analysis, I mentioned about selling at 7300. Price has dropped more than 5% since then and the set-up is still valid. The rising wedge has formed after a big drop, which is a Bearish signal. The Descending Trendline has also capped the rallies since February and last week, there was rejection at this Trendline once again. So, in my...

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Dear Friends, if you find my analysis helpful, please leave your LIKES and COMMENTS. GBPJPY has managed to pull off a pretty decent comeback from it's low at 124. It is currently up more than 1100 pips from the lows. Looking at the daily chart, the daily candles are getting smaller and smaller. So, are the bulls running out of steam here? If that's the case then...

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Dear Friends, if you find my analysis helpful, please leave your LIKES and COMMENTS. NZDUSD maybe rallying a bit for the last couple of weeks but it is not out of the woods yet. The recent recovery in major stock market indices across the world has lent some support to risk assets like NZD. However, a sustainable rally looks far-fetched here. NZDUSD may rally up...

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Dear Friends, if you find my analysis helpful, please leave your LIKES and COMMENTS. GBPUSD is in a critical area. So far, it has not managed to break this resistance area. If cable reverses here, a drop towards 1.20 is likely. On the other hand, if GBPUSD breaks this resistance strongly, then it will likely reach 1.27 and even 1.30 in the coming weeks. This...

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Dear Friends, if you find my analysis helpful, please leave your LIKES and COMMENTS. EURUSD is moving is an ascending channel after the recent downtrend. This ascending channel was formed after a downtrend which means if the price breaks the lower TL of the channel, EURUSD can start dropping again. So far. traders can sell at the Upper TL and buy at the Lower...

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CADJPY is oscillating back and forth between the Resistance and Support Levels on the 4H Chart. Short positions are valid near the resistance level with TP at the support level.

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Let's take a look at what's happening here. From a technical perspective, we are seeing an Ascending Wedge pattern(which is a bearish pattern). Ascending Wedges are formed when the price of an asset makes a slow recovery after a Big Drop. This is the case with Bitcoin. After the huge 60% drop from 9200, BTC is making a slow recovery in the form of an ascending...

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Stocks markets, risk assets, Cryptos are rallying (maybe recovering is a better term) as markets participants try to price in a possible slowdown in the COVID-19 pandemic. But, even if the Pandemic miraculously disappeared today, the massive economic shock won't disappear anytime soon. Major indices all over the world have already plummeted into Bear...