MarcellusLUX

MarcellusLUX Updated 

Hello everyone! GBP/USD is a downward trajectory for a few weeks now. Price has breached the 1.24 level based on the current price action, we can see a further decline in GBP/USD. I know many of you have bought GBP/USD or are waiting to buy. So, in this idea, I will give you some key levels from where you can consider buying GBP/USD. 📌1.2310-1.2330 is a minor...

MarcellusLUX Updated 

Hello everyone! GBP/JPY's bullish rally has run out of steam and price is slowly descending to the downside here. 📌At present, we are noticing the formation of a wedge-like pattern in the daily chart of GBP/JPY. 📌Despite this, the uptrend may be short-lived as price may fall to 179 in the coming days. 📌My recommendation is to sell the rallies in GBP/JPY. If...

MarcellusLUX Updated 

Hello everyone! There was an attempt to break the 147.85 resistance level. However, we might have witnessed a fake break on Friday and price is currently back below the resistance zone. 📌At present, USD/JPY is below the 147.85 resistance level. 📌 In the 4Hour chart, if price continues to stay below the key resistance level, we can see a pullback of 100 pips or...

MarcellusLUX

Hello everyone! XAU/USD has reversed it's trend from bearish to bullish after hitting the lows at 1885. Since then, the price of Gold is in a continuous uptrend. 📌At present, we can see that Gold is consolidating in the 1945 level. 📌 In the hourly chart, we can see the 100 hour moving average which is acting as a support as well as the ascending trendline...

MarcellusLUX

Hello everyone, we are seeing some weak price action in the 4Hour chart which could bring the price closer to the 1.26 level. 📌GBP/USD rebounded almost 185 pips after hitting the lows at the 1.2550 level on Friday. 📌Also if you switch to the daily chart, you can see a high probability of a reversal as GBP/USD is consolidating in the 100-day moving average...

MarcellusLUX

Hello everyone, GBP/JPY made yet another attempt to break the resistance level yesterday but the attempt was not successful. 📌Price has already fallen more than 100 Pips today. If the daily candle ends today with a bearish candlestick pattern, we can expect further fall in GBP/JPY. 📌183.46 is a moderate support level which if broken, would open the path towards...

MarcellusLUX Updated 

Hello everyone, in this analysis, we will take a look at the bearish scenario for USD/JPY. As you can see from the chart, USD/JPY is currently at the upper trend line of the rising channel, which increases the probability of a reversal. 📌Yesterday, a bearish daily candlestick had formed at the upper TL. So, if price doesn't rise above 147, we can expect a...

MarcellusLUX Updated 

As mentioned in my Monday's trade plan, EUR/USD has rebounded from the support line of the ascending channel. So, buyers who bought at 1.0770 are currently up 100 Pips in their buy trades. 📌Currently, in the 4H chart, the immediate resistance is being offered by the 1.0885 level. 📌Bulls need to break the 1.0885 level for the uptrend to continue...

MarcellusLUX Updated 

Hello everyone, the 1890 level gave us a trend reversal in Gold. If you look at the chart, you can clearly notice how the trend changed from bearish to bullish in Gold. 📌 In the hourly chart in Gold, you can notice that XAU/USD is being supported by the ascending trend line as well as the hourly moving average . 📌 Currently, the price of Gold has hit a minor...

MarcellusLUX

Previously in my Monday's trade idea, I recommended buying GBP/USD @1.2560. As expected, we are currently up 70 pips from our buy area. 📌If you look at the daily chart in GBP/USD, you will notice that the downtrend seems to have lost momentum in the 100-day moving average region . This area is crucial as it can lead to a bullish reversal. 📌 My recommendation...

MarcellusLUX

GBP/JPY is being supported by the moving average on the 4H chart. You can see that price has not moved below the moving average so far. 📌Thus, there is a higher chance of a resumption in the uptrend. 📌Sell trades should be considered only if GBP/JPY moves below the moving average. 📌 183.50 is a key level to consider. If the price breaks below this level, We...

MarcellusLUX

EUR/USD has been in a prolonged state of downtrend for more than 40 days now. After reversing from 1.1270, the price has dropped nearly 500 pips. At present, we can see that EUR/USD is at the bottom of an ascending price channel as shown in my chart. If you look closely, you will notice that even in the previous two occasions, EUR/USD has reversed after hitting...

MarcellusLUX

GBP/USD broke the support at 1.2620 last week and now, the price is still below the support level. That being said, a pullback in GBP/USD can not be ruled out. If the level at 1.2550 holds, we can expect price to reach the 4H moving average at 1.2705 again.

MarcellusLUX

After reversing from the 186.50 level, GBP/JPY is on a downtrend. At present, GBP/JPY is struggling to cross the hourly moving average. We can also see the formation of a double-top pattern in the 1H chart. So, based on this observation, GBP/JPY is likely to fall to the 183.50 level once again.

MarcellusLUX Updated 

I know this might be very annoying for the Crypto enthusiasts but Iooking at the long-term monthly chart, I get a feeling that BTC/USD will drop below 10K USD in the next 6-9 months. The big bearish doji candle in the monthly time frame might spell some trouble for the BTC bulls here. What are your opinions?

MarcellusLUX

EUR/USD has rebounded from the 1.17 strong support level. We can also see the formation of a bullish candlestick in the weekly chart. In addition to this, EUR/USD is showing bullish price action after touching the 100 week EMA. These three factors make a strong case to buy any dips in EUR/USD in the coming days. I recommend traders to buy EUR/USD between...

MarcellusLUX

Gold has rebounded strongly from the 1680 support level and based on the price action, it seems further uptrend is likely. US dollar is also losing steam across the board and that makes XAU/USD a prime candidate for further rise in the coming days. So, I recommend buying the dips with 1830 as the initial target . Bulls might face a minor resistance at the 1830...

MarcellusLUX

EUR/GBP is struggling at the bottom of a range for a long time now. However, a reversal might be on the cards as EUR begins to gain momentum while GBP is losing steam. Price is showing some signs of a rebound in a strong support level and so traders can consider buy entries@0.8470-0.8510 with SL below 0.8425 and TP at 0.87. If 0.87 is broken by the bulls, the...