USDJPY: With the pair taking back its Monday losses to close higher on Tuesday, further upside pressure is now underway. This development leaves the pair targeting the 114.86 resistance zone. On the downside, support comes in at the 113.50 level where a break if seen will aim at the 113.00 level. A cut through here … “USDJPY: Reverses Higher With Eyes On Price Extension”
Category: Forex Bits
EURUSD Faces Further Downside Pressure On Bearishness
EURUSD: With EURUSD continuing to maintain its downside pressure, further weakness is envisage in the days ahead. Support lies at the 1.0950 level. Further down, support lies at the 1.0800 level where a violation will aim at the 1.0750 level. A break of here will aim at the 1.0700 level. Its daily RSI is bearish … “EURUSD Faces Further Downside Pressure On Bearishness”
Marubozu candlestick in Technical Analysis
The Marubozu candlestick – Explanation You are probably familiar with Japanese candles and their role in technical analysis. If not, the first thing you need to know is that Japanese candles are commonly used by Forex traders and help them in recognizing price trends and finding good trading opportunities. Today I would like to introduce … “Marubozu candlestick in Technical Analysis”
GOLD: Continues To Trade Below Key Resistance
GOLD: With GOLD closing marginally lower on a rejection candle the past week (see weekly chart), further downside is likely. On the downside, support comes in at the 1210.00 level where a break will turn attention to the 1200.00 level. Further down, a cut through here will open the door for a move lower towards … “GOLD: Continues To Trade Below Key Resistance”
Five Things Successful Traders Do
For years, I’ve heard that 90% of traders lose money trading, and they lose it to the 10% who are making money. More recently, it seems that the numbers I hear are 95-5, so even worse. FXCM recently released a report showing, according to them, retail fx traders received better executions than institutional or exchange … “Five Things Successful Traders Do”
The Struggle for the bottom of GBP/USD
When Politics collides with Forex When two big political figures in British politics collide on an issue you know the ripple effect will be felt in multiple Forex pairs. So we are patently watching GBP/USD to see one of two things: a solid support level, a breakout to the downside. Support right now is firmly … “The Struggle for the bottom of GBP/USD”
USDJPY: Pressure Builds Up On The 111.65/00 Zone
USDJPY: With the pair remaining weak and following through lower on Tuesday trading session, further weakness is envisaged. On the downside, support comes in at the 111.50 level where a break if seen will aim at the 111.00 level. A cut through here will turn focus to the 110.50 level and possibly lower towards the … “USDJPY: Pressure Builds Up On The 111.65/00 Zone”
GOLD Targets Further Bullishness Short Term
GOLD: Having GOLD taken back almost all of its gains to close a rejection candle the past week, further bullishness is likely. On the downside, support comes in at the 1210.00 level where a break will turn attention to the 1200.00 level. Further down, a cut through here will open the door for a move … “GOLD Targets Further Bullishness Short Term”
NZDUSD Faces Further Downside Threats
NZDUSD: Having continued to remain vulnerable, NZDUSD faces further downside threats. Support lies at the 0.6600 level where a break will aim at the 0.6550 level. Further down, the 0.6500 level comes in as the next downside target. Its daily RSI is bearish and pointing lower suggesting further weakness. Conversely, resistance resides at the 0.6650 … “NZDUSD Faces Further Downside Threats”
GBPUSD Recovers Higher On Correction
GBPUSD: Having the pair halted its downside pressure and threatening recovery, we expect price extension to occur. Support lies at the 1.4300 level where a break will turn attention to the 1.4250 level. Further down, support lies at the 1.4200 level. Below here will set the stage for more weakness towards the 1.4150 level. Its … “GBPUSD Recovers Higher On Correction”