YourLazyTrader

YourLazyTrader Updated 

The last daily candle in GBPUSD shows indecision among the sellers and buyers in the market. So, this week, we might see a the sellers dominate the market. The daily candle gives us a potential sell trade with very good risk/reward. I would be looking to sell GBPUSD@1.3040-1.3050 with SL above 1.3070. I will target 1.2990, 1.2940 and 1.2880 as possible take profit areas.

YourLazyTrader

XAUUSD is going towards the Resistance area once again from where it could possibly drop. If the resistance at 1592 area holds, Gold will probably drop towards 1575, 1560 and 1545 respectively. What happens to Gold this week will once again depend on the market appetite for risks. So, keep an eye on the equity markets before executing your trades in Gold.

YourLazyTrader

EURUSD has dropped to 1.0880 last week as I predicted. However, it broke that level and kept dropping even further which is something I didn't expect. So, will there be a reversal in EURUSD soon? Or at least a retracement? Looking at the chart there is a possibility of a drop to 1.0720 area which happens to be the bottom of the channel. If it goes there this...

YourLazyTrader

Gold is trading at a very critical area from where it could go either way. Price is consolidating at the 4H support. So, sellers must wait for a break of 1564 before selling further. Once the other hand, if price fails to break 1564 and bounces here, XAUUSD will probably go higher. Personally, I am holding sells from above 1575 as I believe Gold will drop more.

YourLazyTrader Updated 

AUDUSD has bounced from the support zone again. So, it could go up further till 0.6850 area. However, this support area could also break if the risk appetite in the market deteriorates. So, be careful with the buys.

YourLazyTrader

After almost 6 weeks of downtrend, it seems the bearish move in EURUSD is coming to an end. Yesterday's daily candle closed with a nice bullish pattern which could be a piece of good news for the buyers. I have already started buying the dips on EURUSD. My plan is to keep buying with small lot sizes between 1.0080 to 1.0910 with SL below 1.07. I will look to...

YourLazyTrader Updated 

Current price action indicates that XAUUSD might drop soon. However, everything depends on risk appetite in the market. If you see that the global equity markets are moving up that will be a nice signal to sell Gold for the short-term at least.

YourLazyTrader Updated 

EURUSD downtrend shows no sign of exhaustion so far and I expect it to break the 1.09 level soon. We are probably heading towards 1.0880 from where a major turnaround could happen if the institutional buyers step in.

YourLazyTrader Updated 

USDCAD is facing stiff resistance at the 1.3300-1.3340 area which is expected. At this point, both the sellers and buyers are on the sidelines waiting for a move to happen. In my opinion, price will reverse very soon. However, there might be a fake breakout of the resistance level to generate some liquidity before dropping. I have already executed sell orders...

YourLazyTrader

GBPJPY has bounced from the Support Area once again. Price is also trading firmly above the 100D EMA which indicates uptrend is still intact. So buyers, who bought from the lows can hold their buys. Sellers, on the other hand, need to wait for the price to break the support area before executing any sell orders. In my opinion, Buy trades are still valid as long...

YourLazyTrader

GBPUSD has broken the all-important 100D EMA. From a technical standpoint, that's quite significant. If price continues to fall, GBPUSD is expected to reach 1.2780 area. It would be interesting to see if there is any bullish price action at that area. Before that, traders should exercise caution particularly the buyers

YourLazyTrader

EURUSD broke through the previous support and now it is approaching another support area at 1.0880. If the support holds, EURUSD might find some bids there. That being said there's also a possibility for price to break through and drop all the way towards 1.07.

YourLazyTrader Updated 

EURUSD has been rejected from the 100D EMA. Right now, it looks like EURUSD can fall back to the support level at 1.0990. It would be interesting to see if we can get some kind of a bullish price action in the Support area. If that happens, buyers can look for Buys at 1.0990 with a small SL below the support and target the recent high at 1.1240 as TP.

YourLazyTrader Updated 

GBPUSD has bounced from the support area once again. So, there could be more upside to come. Traders can look for buys between 1.2990-1.3010 with SL below 1.2950. TPs can be set at 1.3080 and 1.3160 respectively.

YourLazyTrader

After a 300+ pip profitable Buy Trade on USDCAD(idea link attached), I am back with a sell set-up. As you can see, USDCAD is approaching a strong Resistance Area. So, it's a good idea to be prepared with sell scenarios. My plan is to watch the daily price action in the 1.3300-1.3350 area. If I see an exhaustion of the bullish move or a sharp bearish impulse in...

YourLazyTrader

Buying from strong Support levels are one of the simplest trades that a trader can execute. EURGBP is at such a situation right now. It has bounced from a multi-year support level but price didn't go too far away from the support level. So, traders have the opportunity to go long again. My plan is to keep buying the dips between 0.8300-0.8500 with SL below...

YourLazyTrader

After a recent risk-off situation in the early part of this week due to the virus outbreak in China which Japanese Yen appreciating across the board, we are now seeing consolidation in USDJPY. In fact, USDJPY has created a bullish candlestick pattern comprising off a DOJI and a bullish hammer. What's more important is the fact that this formation has taken place...

YourLazyTrader

The price of Euro versus the US Dollar is going down more than 3 weeks now. However, it seems, the downtrend is about to end. Today, the price has bounced off crucial support at 1.0994. So, we might see a reversal this week. That being said, if this support zone can't hold the price, then the next support lies at 1.0880 Either way, I would be looking to buy at...