Happy New Year, fellow traders!
Gold has finally stopped after almost two weeks of rally and currently has reached a resistance. I see a potential for a sell trade with SL slightly past 1330 and TP just above 1300 to be safe.
In addition to the technical analysis, stronger US Dollar and Stoch RSI also indicate on a potential for a sell trade.
Some time ago I explained why I believe in weaker US dollar, but the EURUSD had other plans at that time. Right now I still believe in the same idea, just in a broader term. In addition to the technical analysis, I see also some fundamentals to support weaker US Dollar:
-- Fed rate hike did not bring a boost in US Dollar as many forecasted. I find interesting an...
I'm going LONG in Gold, here are the main points that convinced me:
-- At the lower border of the upward channel (technically the price has currently surpassed the border, but due to other support levels just below, I believe that the price will re-enter the channel).
-- Psychological level of 1270 USD has proved to be a significant pivot point before.
-- 0.382...
Cable is currently rather unpredictable and additional volatility is attributed to Brexit talks. Nevertheless, some technical analysis cannot hurt anybody, right? :)
I believe that GBPUSD currently is on a downward trend in terms of a rather strong upward channel. There is a possibility to enter a SHORT trade with a TP above 1.32. The price may see some support...
Crude Oil is approaching the highest level in 2.5 years, which is also a rather significant resistance level - 60 USD. The Crude Oil price is in a confident uptrend, which might be stopped by a long term trendline together with the resistance level @60 USD. The plan is to wait for the price to reach this resistance level and check its strength. If the price fails...
Eurodollar reaching for a highest level since mid-September. Currently in an upward channel and surpassed a resistance level @1.1860. The plan is to wait for a retreat back to the said level and enter a long trade with a potential take profit @ 1.20 - a major resistance level.
Few will argue that the Apple Inc stock price is not moving along a confident long-term upward channel, but each uptrend faces casual corrections and I believe that AAPL will face one shortly. I see two potential support areas that may be reached by the Apple stock price, therefore two potential trade scenarios have been generated. Approaching the TP level of the...
Good morning everyone! Anyone here following USDRUB?
Looking at the downward channel and fibo levels, I believe USDRUB will trade around 58.50, but will continue the downward trend. Appreciation of the Russian Ruble agrees with the Crude Oil approaching the 2.5 year high.
