RCtrader2

RCtrader2 Updated  Mar 23, 2022

The USDCAD could either rebound or break the trendline and so significantly dip in favour of the CAD. The odds are in favour of the CAD, now that Brussels and Washington push for winding up most trade with Russia as to force it to reconsider its invasion of Ukraine.

RCtrader2 Updated  Mar 6, 2022

The Russian troops have been deployed on the Ukrainian border in more than a dozen strategic locations. For weeks, Putin and other Russian officials have held the narrative that NATO is a threat to their security and they don't want to see it expand in the area anymore. It seems there is a need for a catalyst, aka Ukrainians are throwing missiles into pro-Russian...

RCtrader2 Updated  Feb 11, 2022

Today, the US inflation rate release caused a lot of commotion. The price could move higher, but I think we need to retest the 1.1350 area before it breaks the 1.1520 resistance.

RCtrader2 Updated  Feb 7, 2022

If there is a strong bullish bias then the teal trendline should hold and push the price higher. In an alternative scenario, if the trendline is broken then the pair could retake its bearish descent or move sideways.

RCtrader2 Updated  Jan 27, 2022

GBPUSD has been seriously on the rise, but can it break resistance areas and the channel's upper bound? Where do you guys think it is headed?

RCtrader2 Updated  Jan 24, 2022

Customary, valid H&S patterns give a profit as high as (or higher) the length of the distance from the neckline to the top of the head. In this particular case, I believe the pattern will send the price lower to test the 2021 lows.

RCtrader2 Updated  Jan 13, 2022

If the bulls were to make a move then they had to keep the ground at 1.1340. Unfortunately, they didn't, and my thoughts are that we will see a lower low this month, somewhere close to 1.1100.

RCtrader2 Updated  Jan 6, 2022

The price action created an accumulation of candles on top of a horizontal support area that energized bulls and pushed the price significantly higher. However, one reason for that to happen is the BoE's decision to increase interest rates in December 2021. I expect the price to make a cluster of bullish and bearish candles, now that it neared the upper bound of...

RCtrader2 Updated  Jan 3, 2022

A new year has begun and the bulls are already leading having broken the pennant on the daily chart. If they are serious then our next stop is either any point on the downtrend line or the 1.1500s. Also, we must take note that the Build Better Bill fate is extremely uncertain and if it fails then we expect the euro to gain a lot of ground.

RCtrader2 Updated  Jan 1, 2022

A few days ago, I thought the price sketched a rectangle. However, experts say it is a triangle and so I agree with them. My thoughts are that the triangle could make a fake breakout on the upside and then dip fiercely towards the lower bound and break it. I think we will be out of the triangle in the very first days of January 2022.

RCtrader2 Updated  Dec 24, 2021

The FED announced that it will hike interest rates three times next year. The ECB has done the opposite saying that interest hikes are unlikely though it will monitor inflation closely. The bulls have been exhausted, it is time for the bears to push the rate lower.

RCtrader2 Jun 26, 2021

The price has beautifully sketched 5 impulse waves on the weekly chart and possibly half of the 3 corrective waves. There is still time to trade inside the 3 corrective waves until the end of the year.

RCtrader2 Updated  Mar 8, 2021

The pair has completed half of the way to the bottom of the uptrend channel after breaching the 1.4000 area and reversing since. There is therefore some room left for the bears to dip the price further. We shall keep an eye on it. :)

RCtrader2 Jan 4, 2021

I presume that the pound will want to dive into the support area of the uptrend channel and then give us a surge into the resistance area again.

RCtrader2 Updated  Nov 10, 2020

After launching itself towards 1.2000 once again the pair has lost steam at around 1.1900 and now it seems it could retest the 1.1700 area.

RCtrader2 Updated  Nov 10, 2020

USA presidential election brought some volatility to the market from the start of this month. More is expected as the count of the ballots continues. The price seems to have created an uptrend channel and could trade inside through November and December. It also reached for a second time the 0.618 area on our Fibo chart.

RCtrader2 Updated  Oct 4, 2020

Trump testing positive for Covid-19 should devalue the dollar briefly, but the market might prove us wrong.

RCtrader2 Updated  Oct 3, 2020

If the price breaks 1.2950 level then the bulls could make a run towards the next fibo level(s). If it breaks 1.2900 then the bears will take the lead.