The Canadian dollar has been on a roll recently, but I'm taking a different approach and buying USDCAD (US dollar strengthens against the Canadian dollar). US Dollar as a Safe Haven: With economic uncertainties brewing around the globe, the US dollar is often seen as a safe haven currency. Investors flock to the dollar during times of volatility, potentially...
The GBPNZD pair has seen some interesting movement lately. It has been trading in range since mid-June. Hoping to see a move to the bottom of the range. I have a limit order set as follows: Entry: 2.07844 Profit: 2.06338 Stop: 2.08204 1:4 trade targeting 150 pips.
I'm looking to enter a sell position on EURUSD at 1.08445. Here's my reasoning: Dollar Strength: The US dollar has been strengthening recently against various currencies, and EURUSD could be next. Positive US Economic Data: Strong economic data releases from the US could boost confidence in the dollar. Technical Entry Point: 1.08445might be a technically...
I had a similar trade posted yesterday, but exited at break even as I believe that price still has some more room to move. Reasoning behind this is that the DXY looks like it is about to take a nice sell off. There is a great level of resistance at 1.285 which has been respected multiple times. I have a limit order set: Entry: 1.28486 Stop: 1.28825 Profit:...
I'm taking a long position on USDJPY at 160.365, here's why: - Potential Upside: There could be factors driving the US dollar higher against the Japanese yen. These factors could include economic data favouring the US economy or geopolitical tensions. - Entry Point: 160.475 could be a technically attractive entry point based on past price movements or...
Overall, the sentiment on USDJPY is mixed. While retail traders are bearish, the price action hints at potential bullishness. Further analysis is recommended before making any trading decisions. I'm taking a long position on USDJPY at 160.475, here's why: - Potential Upside: There could be factors driving the US dollar higher against the Japanese yen. These...
I'm looking to enter a sell position on EURUSD at 1.08520. Here's my reasoning: Dollar Strength: The US dollar has been strengthening recently against various currencies, and EURUSD could be next. Positive US Economic Data: Strong economic data releases from the US could boost confidence in the dollar. Geopolitical Uncertainty: Global tensions or...
I'm looking to enter a short position on GBPUSD at 1.28230. Here's my reasoning: Potential Downside: There could be factors putting downward pressure on the British Pound against the US Dollar. This could be due to weak UK economic data and political uncertainty. Entry Point: 1.28230 might be a technically attractive level to enter a sell position based on...
I'm considering a sell position on USDCAD at 1.365. Here's why: Potential Canadian Dollar Strength: There could be factors influencing a rise in the Canadian Dollar relative to the US Dollar. This might be due to strong economic data from Canada, rising oil prices (Canada being a major oil exporter), or a weakening US Dollar. Entry Point: 1.365 could be a...
The EURGBP pair has been on a rollercoaster ride lately, but I'm taking a calculated risk by selling EUR/GBP. Here's why I'm leaning towards a stronger pound: Diverging Monetary Policy: The European Central Bank (ECB) is taking a dovish stance on interest rates to combat slowing economic growth. This contrasts with the Bank of England (BOE) which might be...
The USD/CAD pair has been on a tear lately, but I'm going against the grain and shorting it. Here's my reasoning: Strengthening Canadian Economy: Canada's economic outlook is improving, with strong GDP growth and a resilient job market. This could lead to further interest rate hikes from the Bank of Canada. Weakening US Dollar: The US dollar has been...
The sentiment surrounding the EUR/USD currency pair is currently mixed. Here's a quick breakdown: Recent Price Movement: The EUR/USD has been trading lower recently, weighed down by a strong US dollar. Analyst Forecast: Some analysts, like those at FXStreet, anticipate a potential EUR rebound. Trader Sentiment: According to data from DailyFX,...
With XAU/USD printing HH and HL's, I am entering long to capture a short move up. Entry: 2342.87 Stop: 2332.33 Take profit: 2376.02
The Euro is in the driver's seat today against the US dollar (EUR/USD) as risk appetite returns to the forex market. We took a trade yesterday, off the 0.382% Fib Level, we entered at around 10:00 GMT and have seen minimum movement in the pair. We are targetting the 0.5% Fib Level and expect to bag 60 pips.
After taking a short trade this morning and closing just shy of TP. Looking to catch the range reveral back up to area of consolidation. Entry: 156.689 Stop: 156.602 Take Profit: 156.938
Gold (XAUUSD) presents an interesting scenario. While a weaker dollar could typically support gold prices, the overall risk-on mood might put a cap on significant gains. Analysts are keeping a close eye on economic releases, particularly inflation data, for hints on the future direction of gold.
USDJPY is sending mixed signals today. Here's the breakdown: Dollar Downward Trend: The US dollar is generally weaker across the board, which could put downward pressure on USDJPY. Retailer Skepticism: Interestingly, a large portion of retail traders are currently short on USDJPY, indicating a potential expectation for the pair to fall. However, in forex,...
The outlook for gold is currently biased towards the upside . This bullish bias comes after a brief correction and is fueled by: - Rate cut expectations: Recent economic data suggests disinflation, leading investors to believe the Federal Reserve will cut interest rates. Lower rates typically benefit gold prices. - Geopolitical tensions: While tensions...