ROYALRYFX

ROYALRYFX

Overall im Bearish on this pair. However we have a nice bullish divergence on H4 and H1. This can be a good opportunity to enter some Long trades target at resistance 1.77950

ROYALRYFX

Gold ( XAUUSD ) continues to consolidate above 1900 support. That’s the metal’s previous all-time high. At the same time, XAUUSD has struggled to carve a higher high in the short-term. Buyers need to break the series of lower highs since 2075 in order to send gold higher. However XAUUSD broke the Bullish trend line so we can expect a pullback to 1880

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Because of the multi-year uptrend, I’ve been bullish on gold since a long time. As for XAUUSD, Friday’s candle broke support, so we’ll see if buyers can hold the pair above 1940 this week. If so, that leaves the door to 2015 wide open.

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The USDJPY continues to look weak against the 106.00 area. The wedge/triangle below is a structure I’ve discussed for months. However, the tricky part about trading away from this structure is that USDJPY is only respecting it on a monthly closing basis. In other words, it took a monthly close beyond the structure to confirm the breakout. With that in mind, as...

ROYALRYFX

GBPUSD broke free from its consolidation last week with a close above 1.3250. If the 1.3250 holds on a daily closing basis, I like the idea of a push higher into key support near 1.3500. Alternatively, a close back below 1.3250 would negate the idea.

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EURUSD bulls are still in charge as of last week’s close. For the week ahead, 1.1930 is resistance with a close above that opening the door to 1.2090. What happens near 1.1930 will dictate whether I add to my long position. Key support for the week ahead comes in at 1.1700.

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The EURUSD weakened on Friday after what appears to be a false break above 1.1900 between Tuesday and Wednesday.

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I’ve been writing about this USDJPY wedge pattern for months. What made this structure so difficult to trade was the fact that USDJPY wasn’t respecting it on a daily or weekly closing basis. It took a monthly close beyond it to confirm the breakout. That break materialized with July’s close. However, for the past three weeks, USDJPY has gone nowhere. This has...

ROYALRYFX

GBPUSD went from being a relatively easy pair to trade to being a complicated mess. Last week, the 1.3160 area was serving as resistance. That’s the area buyers had to break to send GBPUSD higher. However, following the August 18th close above 1.3160, GBPUSD failed to hold above the area. On top of that, the 1.3160 region didn’t serve as resistance the following...

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I’ve been bullish on gold (XAUUSD) since a long time Nothing has changed for me. I’m still bullish on gold over the next four to five years. In the near term, it’s going to come down to the terminal pattern below. A close above the short-term resistance near 1970 would send XAUUSD back to 2015 and perhaps 2075. Alternatively, a close below the March trend line...

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XAUUSD suffered a significant loss last Tuesday. At more than five percent, it was the largest single-day drop in the last few years. Even the March selloff didn’t register a loss that significant, at least not at the daily close. However, I don’t see any scenario where XAUUSD becomes a sell, at least not in the long run. The uptrend is intact as is the cyclical...

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NZDUSD has pulled back of late after tagging the 0.6720 area. However, I think sellers need to be careful here. The pair is still trading above the top of that multi-year wedge pattern. I’ve written about this structure several times, and also talked about the false break out in the past Weekly Technicals That confirmed false move supported the bullish narrative...

ROYALRYFX

GBPUSD is in a similar situation to that of EURUSD. The pair continued its consolidation last week between 1.2980 support and 1.3160 resistance. Buyers need to secure a daily close above 1.3160 to send the pound higher. A close above 1.3160 would open the door to 1.3500. Key support for the week ahead remains 1.2980.

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EURUSD spent a second week consolidating between 1.1700 support and 1.1900 resistance. It isn’t surprising considering the aggressiveness of the July rally. Many who entered during that rally have taken profit, while others who were on the sideline have had time to accumulate. That’s what makes consolidation like this healthy for any trend. If you saw my posts...

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XAUUSD dropped by over 700pips since Monday. Possible rejection from support to the trend line resistance.

ROYALRYFX

Last week GBPUSD dropped almost 100pips. Right now i would prefer to wait for a little retracement to the upside in-order to enter some sells as we are 100% bearish on GBPUSD(unless other wise fundamentals plays a role to make it go bullish) Of course just like any other pair i will change my opinion after looking at the market and fundamentals. What we will do...

ROYALRYFX

Very similar to GBPUSD. Double top on the daily chart as well as on H4. We will look for a H4 breakout of the support, a retest and a continuation for the down side. Of course we dont know what the fundamentals results will be. During this time of covid, market might go against us. So we dont know if the GBP will be strong or week. But we anticipate a...

ROYALRYFX

As you can see last week we have a false breakout and right now we a pulling above the support. We are waiting to see what happens during Monday in-order to enter a trade. Almost all GBP, USD pairs have huge impact due to fundamentals and other covid updates.