Samuel124

Samuel124

The XAUUSD currency pair, representing the exchange rate between gold and the US dollar, is currently facing rejection at the 1900 and 1896 support zone. This follows a significant drop of over 200 pips attributed to robust selling activity from the 200EMA, which is functioning as dynamic resistance. The current scenario suggests an oversold condition of the...

Samuel124

The psychological support and resistance levels for GBPUSD for the current week have been established at 1.24044 - 1.23774. The technical analysis of the 4-hour and daily time frames indicate a bearish trend, with the daily time frame currently situated within a contraction zone. Based on the 4-hour trend and weekly PSR, it is expected that the bearish sentiment...

Samuel124

The EUR/JPY currency pair rallied to the resistance zone around 141.819 after a prestine W-pattern formation in the early hours of the London session. My technical analysis suggests that it may sell off to the downside in the short to medium term. The medium-term target for the pair is 141.50, which is a key intra-day resistance-turned-support level that the pair...

Samuel124

The GBPCHF currency pair is currently experiencing a period of consolidation. Traders should exercise caution and closely monitor market movements as the market determines its direction. While there is a higher likelihood of a DECLINE in the pair, it is advisable to WAIT for market makers to move the price up to the supply zone between 1.14233 and 1.14054 in order...

Samuel124

The GBP/USD currency pair has exhibited potential for a short position following an upward movement of over 250 pips from the previous projection, resulting in an attractive risk-reward ratio of 1:5. The pair displayed characteristics consistent with manipulation by market makers during the early hours of the London trading session. This could potentially...

Samuel124

GBPUSD has been showing bullish signs in the recent days and it may be a good time to buy the currency as it has the tendency to rally up to 1.22500 and then 1.23000. One of the key factors supporting this prediction is the divergence on TDI (Traders Dynamic Index) which is a technical indicator that helps to identify trend strength and potential trend...

Samuel124

Looking at the chart, we can see that the pair seem to have found floor at the zone (1.74988 - 1.74805), which could serve as a support level going forward. In my opinion, the technical analysis suggests that the GBP/AUD currency pair has the potential to rise higher in the short-term with a target at 1.7570, 1.7620 and 1.7670 respectively. Confirmed by a bullish...

Samuel124

From my viewpoint, EURUSD appears to be encountering a short or medium term resistance at a specific price range (1.08679 to 1.08554). Although there seem to be another resistance level at (1.08900 - 1.09245). This can be due to a variety of factors such as a large number of sell orders at that level or market sentiment. If this resistance level holds, meaning...

Samuel124

My outlook on GBPCAD yesterday played out by giving 55pips instead of 64pips that was actually projected. So what are we to expect today? Well!! From my Elliott wave count, GBPCAD is in a short term corrective phase. Currently forming the minor sub-wave 3 of wave ii of the corrective phase b. If this analysis holds, the point of invalidation (beyond which wave 2...

Samuel124

The GBPUSD pair appears to have found short-term support at the 200 exponential moving average (EMA). If price can remain above this dynamic support, we could expect the pair to rally and reach my short-term target of 1.22689. However, if the price breaks below the 200 EMA, the pair could move lower to the demand zone between 1.2086 and 1.20731. In the longer...

Samuel124 Updated 

From a technical analysis perspective, the GBPCAD pair has been on an uptrend since September 2022, achieving a high of 1.68449 on 14th December 2022, after the high of February 2022. Since then, the pair has seen a retracement of more than 600 pips, leaving traders uncertain as to whether the corrective move has concluded. In the short term, the H1 time frame...