GBPJPY: With the cross weakening following its failed intra attempts on the upside, we see further weakness in the days ahead. This view remains valid while the 187.31/47 zone remains as resistance. On the downside, support comes in at the 183.50 level where a violation will aim at the 182.50 level. A break below here … “GBPJPY: Weakens, Further Corrective Pullback Envisaged”
Category: Forex Bits
Factors Affecting Psychology of the Trader
Trading in the forex markets is dead simple. You simply sell high and buy low. It’s like taking candy from a baby. Yeah right. A few thousand dollars in the red later many traders have come to realize that their trading account is the candy and they are the crying baby from which the markets … “Factors Affecting Psychology of the Trader”
USDCAD Searches For Clear Direction
USDCAD: USDCAD continues to remain in a consolidation mode having been trapped in a range below its key resistance zone at 1.3352. A break either way must occur to trigger directional moves. Resistance resides at the 1.3300 level where a break will target the 1.3350 level. Further out, resistance comes in at the 1.3400 level … “USDCAD Searches For Clear Direction”
Meet Orbex at the Barcelona Forex Traders Expo 2015
The team at Orbex is participating in the Barcelona Forex Traders Expo this September, and has an offer for traders. Here’s more from the official press release: This September, Orbex Team is travelling to Barcelona to meet traders, investors and introducers to discuss the investment opportunities in person and share some of the latest developments … “Meet Orbex at the Barcelona Forex Traders Expo 2015”
GBPUSD: Key Support At 1.5450/07 Zone Turns Price Lower
GBPUSD: With GBP turning lower at its key resistance zone at 1.5450/7 today, there is risk of more weakness as long as that zone continues to hold. This development is coming on the back of our earlier warning of how significant that level will be. Also, note that we have to see a close below … “GBPUSD: Key Support At 1.5450/07 Zone Turns Price Lower”
USDJPY: Resistance Looks To Cap Further Strength
USDJPY: The pair took back some of its previous week losses at the end of the week leaving risk to the upside. However, with price failure seen ahead of its key overhead resistance zone at 121.73/63 zone, we may see USDJPY weaken in the new week. On the upside, resistance resides at the 121.00 level … “USDJPY: Resistance Looks To Cap Further Strength”
EURGBP Rejects Lower Prices, Holds Recovery Tone
EURGBP: With the cross printing a rejection candle on Thursday to close higher though marginally, it faces the risk of further upside pressure. On the upside, resistance lies at the 0.7350 level where a violation if seen will turn risk towards the 0.7400 level. Further out, the 0.7450 level comes in as the next upside … “EURGBP Rejects Lower Prices, Holds Recovery Tone”
USDCAD: Consolidates Below Key Resistance Zone.
USDCAD: USDCAD remains in a consolidation mode having continued to trade in a range below its key resistance zone at 1.3352. A break either way must occur to trigger directional moves. Resistance resides at the 1.3300 level where a break will target the 1.3350 level. Further out, resistance comes in at the 1.3400 level where … “USDCAD: Consolidates Below Key Resistance Zone.”
EURUSD: Bull Pressure Turns Risk Towards 1.1331 Level
EURUSD: EUR looks to strengthen further following a strong bullish offensive during Thursday trading session. A follow-through higher on that gain is expected to create scope for more recovery with eyes on its key resistance at 1.1331 level. Resistance is seen at 1.1300 level with a cut through here opening the door for more upside … “EURUSD: Bull Pressure Turns Risk Towards 1.1331 Level”
USDJPY Builds Up On Bullish Offensive
USDJPY: With earlier gains taken back and a bull pressure now seen, a move further higher towards the 122.00 level could occur. On the upside, resistance resides at the 122.00 level with a turn above here aiming at the 122.50 level. A break will target the 123.00 level. Further out, resistance comes in at the … “USDJPY Builds Up On Bullish Offensive”