MarcellusLUX

MarcellusLUX

As I predicted in my weekend analysis, Gold is continuing on it upwards trajectory. However, it is approaching a key level where some decisive price move can take place. So, prospective buyers and sellers need to exercise cautions now. 1815-1820 level will be the first hurdle for the bulls. If the bulls fumble at this level, the likelihood of price dropping below...

MarcellusLUX

USD/JPY has reached a multi-year resistance level from where we have seen some moderately strong bearish price action. However, the supporting trend line needs to break for bearishness to persist. That being said, I recommend selling the rallies in USDJPY. We are already holding sells in UJ from higher levels. Fresh sells can be executed between 111-111.50...

MarcellusLUX

Based on the price action in USD/CHF, it seems that it will decline soon. Price did a false breakout of the 0.9235 resistance level and could not hold above it. So, it is quite likely that a deeper pullback may occur. We are already holding our shorts from 0.9230 level with target at the 0.91. For traders looking to enter fresh sells, you can enter sell trade...

MarcellusLUX

The formation of a bullish reversal candlestick in EUR/USD can be a good technical sign for the Euro bulls. However, the buyers must exercise caution before betting big. EUR/USD is still below the key moving averages on the hourly, 4Hour and daily charts. Besides, the main support level is still at 1.1720 level. That being said, Friday's bullish reversal...

MarcellusLUX

We can see a bullish reversal candlestick on the weekly chart in Gold. But, we need to exercise caution before buying as US dollar is still catching bids. That being said, if there is a pullback in Gold towards 1765 level, it may be worth buying with small lots to start. A stop loss below 1750 and initial target at 1820 may be a possible buy signal for Gold this week.

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Previous two daily candles in GBP/JPY indicates indecision among the traders. I would recommend applying the 'wait and watch' strategy for GBP/JPY. As the price is still above the 100 day EMA, GBP/JPY is in a technical uptrend. However, the correction might not be over yet. Price can drop to the 151.50 level which would be a good opportunity for the buyers to...

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The area around 0.6950 is a support level in NZD/USD and it has supported the price multiple times in the past. On Friday, we saw a sharp bullish impulse from the support level in NZD/USD. So, I would be looking to buy the dips as long as price stays above the support area. Possible targets would be 0.7150 and 0.73 level.

MarcellusLUX

In line with the previous idea about selling EURUSD at 1.2240 level, EURUSD has dropped significantly over the previous couple of weeks. However, the fall might not be over yet. EURUSD bulls have not been able to stage any meaningful recovery so far and price has tilted to the downside once again. If the bears continue their dominance, EURUSD may drop to 1.17...

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I have been pretty bearish on Gold in my long-term analyses since May where the first sell signal was given at 1900. Since then price has dropped massively. However, the downtrend might not be over yet. Price is just consolidating over the past few days and there has not been any recover yet. If the bears manage to take the price through the 1760 level, there...

MarcellusLUX

USD/JPY has reversed from the double top resistance and we can expect a deep pullback in the coming days. The downtrend will accelerate once the bears manage to take out the supporting TL. I recommend selling the rallies between 110.60-111 with SL above 111.50 and TP at 108.65

MarcellusLUX

EUR/JPY has slid below the 100 hour moving average level thus risking a deeper pullback. Selling the rallies in EUR/JPY remains the preferred approach. Traders can look to execute new sell trades@131.85-132.20 with SL above 132.50 and TP at 130.

MarcellusLUX Updated 

Gold is stuck in a narrow range over the last few days and although the previous buy trade(previous idea attached below) at 1846 was very successful with nearly 200 pips profit, we are yet to see a big move in Gold. However, with the FOMC meeting in less than 10 hours we can see some volatility in Gold. So, if Gold drops to my preferred area during the event,...

MarcellusLUX

EUR/USD is stuck in the 1.2120 level over the last couple of days and it seems like volatility has completely dried out. However, the FOMC event later today could provide the much needed volatility. If EURUSD drops to the zone I have marked in my chart, I would be considering a buy entry between 1.2065-1.2085 with SL below 1.2040 and TP at 1.2180.

MarcellusLUX

NZD/USD has dropped to the support level near 0.71 area. This area has supported the price multiple times in the past and even yesterday, NZD/USD rebounded after falling to the 0.71 level. But, the rebound seems weak this time around. The reason behind this could be the FOMC meeting event that is preventing investors from placing any major bets prior to the...

MarcellusLUX

AUD/USD has pulled back and touch the 100 day EMA level after many weeks of consolidation. This is a critical level and if price doesn't fall below this level, then AUD/USD can continue the uptrend. However, keep in mind that the Fed meeting event will be held in less than 10 hours and that will keep things volatile in AUD/USD. However, if price drops during...

MarcellusLUX Updated 

Hello traders, my previous Gold idea to sell at 1902 level gave huge profits as price hit our TP at 1865 and went as low as 1854. Almost 480 Pips profit! (Previous idea attached below for your reference) Currently, Gold has reached a minor support level from where a pullback might happen. Although , I do not strongly recommend buying at this level but traders...

MarcellusLUX

EUR/USD's downtrend has come to a halt near the minor channel support. We have seem some bullish price action at this level in the smaller time frames. If the bears are unable to break below the support line, there is good chance that a pullback to the channel resistance can occur again. Currently holding a buy from 1.21 level with target at the 1.2180 level....

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GBP/USD is back to the support area and considering the fact that GBP/USD is in a ranging market for the last 3-4 weeks, there is a chance that price might reach the mid-1.41 level soon I would try a small buy near 1.4080 with Sl below the support line and TP at 1.4150-1.4180.