EURUSD plunged as safe haven demand spiked amid Russia-Ukraine war. The market found support as it fell to an 18-month low and was able to recovered over half the losses. However, the trend is clearly downwards and the current fundamentals are clearly bearish, and the price just gapped down strongly at the market opening for the week. This week, we will...
Gold rallied last week especially on the last trading day which caused a breakout of the symmetrical triangle. As inflation continues to rise and strengthening the market sentiment of more and bigger rate hikes, the dollar is strengthening yet the gold is even stronger. Since the market has broken out of a 14-month symmetrical triangle, bulls are inevitably...
EURUSD was going sideways last week until the dollar started to strengthened again on high CPI figures that prompts for a Fed rate hike. The supply level at 1.1480 has caused a strong rejection and more bears are expected in the coming week. This week, we can switch to selling the upwards pullback at around 1.1380, aiming for 1.1280 and followed by 1.1230.
WTI has climbed for the 7th week and is now trading right at the top of a 15-month rising channel. This could mean the price has topped out but there's no sign of reversal just yet. Therefore, we will continue to follow the trend and look for buying opportunity as price pulls back towards 89.5. However, if the price is able to reach the bottom of the current...
Gold gained a little last week as it recovered strongly from a drop from the supply level at 1815. The market continued to find support at a rising trendline and is most likely to climb further before another short-term sell off. This week, we will look for buying opportunities, expecting the price to reach 1829 supply level.
GBPUSD made a strong weekly gain but gave up a portion of it at the end of the week. The drop caused a break in the upside momentum and could cause the market to consolidate first. This week, we will wait for the price to climb a little higher first and look for selling opportunities around 1.3570. We will also be looking for a buying opportunity at 1.3500 when...
EURUSD made a strong V-shaped recovery throughout the week, the biggest weekly gain in almost 2 years. The move also caused a break-above of a 8-month falling trendline, making a stronger case for more upside in the coming weeks. This week, we expect more correction at the beginning and will be looking for buying opportunities around 1.1380.
Gold shot through the supply level at 1830 but face resistance at the top of a symmetrical triangle. The recent bullish trend that has lasted for just over a month could be an upward consolidation of the previous bearish wave. This week, we would preferably wait for the price to climb a little higher and look for a selling opportunity.
GBPUSD seemed to have resumed a bearish trend as the demand level at 1.36 failed to hold. This is also after a break below of a rising trendline while the market is still trending upwards strongly. This week, we will change our focus to sell the pullback, awaiting a pullback towards 1.36 again.
EURUSD pulled back deeper than expected but still found support at the bottom of a rising channel. While the overall trend is clearly bearish, the 2 months bullish trend still holds and we could expect a stronger rebound from the current demand level towards 1.14. This week, we will look to buy at the beginning while the price is still at the bottom. We may...
Nasdaq is no doubt in a bull market even though it has ranged for the past 2 months and seems to be breaking lower. However, it has repeatedly create a new wave of rally every times it reaches the black MA, rebounded off, then retest again before it really takes off. As of now, the market has completed a retest and we are seeing a rebound again which may very...
WTI continued to rally very strongly and has finally fully recovered from a previous dip of over 20 dollars. There is no doubt in the demand of oil and prices are going to climb even higher going forward. The market is now trading at the upper side of a major rising channel has shown nothing but bulls. This week, we will patiently wait for another pullback and...
Gold rebounded off well from a rising trendline, found resistance at 1829 but stayed closed to it. The fact that the market is constantly rejected at 1829 may cause a deeper pullback towards the downside before it garner stronger buyers. A minor rising trendline was also broken below after multiple rejection at the current high. This week, we will focus on...
GBPUSD has remained bullish every week consistently for almost a month now and is showing no sign of stopping just yet. The price has now broken above the top of a 7-month falling channel and more bulls will be expected going forward. This week, we will continue to look for buying opportunities on every pullback with 1.3630 as the key demand level for an entry for now.
EURUSD has broken above a 7-month falling trendline, opening the door for more buyers. However, the bigger picture shows a clear downtrend and the recent increase in the price could be just another major pullback. Resistance was also seen at the supply level of 1.1450, causing EURUSD to give up over 70 pips before the week ends. Nevertheless, a direction needs...
WTI continued to rise sharply last week and is becomingly clear it has resumed a strong bullish trend. However, we will still continue to observe resistance at supply level 79.9 to 81.3 as it may still provide strong selling. This week, we will wait for a pullback towards 77.3 to look for a buying opportunity.
Gold came down again after a month-long of upward consolidation but found support at demand level 1787. The trend is currently still ranging and the price is now trading right in the middle of the entire symmetrical triangle. This week, we will observe for further support at the demand level 1787 and look for buying opportunity if it holds. Otherwise, the price...
GBPUSD gained further last week and will be retesting the 7-month falling trendline very soon. The price is already trading deep into the supply level at 1.3562, alongside with the golden ratio and thus a sudden reversal could take place anytime soon. This week, we will attempt to sell as the price continues to climb higher with 1.3600 as the key level.