Currency

After starting the day poorly the pound managed to make up some lost ground against several of the majors thanks to an election poll favouring a Conservative win. GBP/EUR started Monday at €1.1417 but bounced back to €1.1497, GBP/USD rebounded from $1.2869 to $1.2943, GBP/AUD fluctuated between AU$1.7211 and AU$1.7318 and GBP/NZD moved between highs […]

The GBP/USD is bullish in the long-term but neutral in the short-term. The price simply fluctuated last week, without assuming any directional movement. This week, the price would either go above the distribution territory at 1.3050 to strengthen the long-term bullish outlook; or go below the accumulation territory at 1.2700, to form a new bearish […]

Here’s the market outlook for the week: EURUSD Dominant bias: Bullish This pair consolidated in the first few days of last week, and then went slightly upwards. On Friday, price closed above the support line at 1.1250, targeting the resistance line at 1.1300. The outlook on EUR pairs, however, is bearish for this week, which […]

GOLD (XAUUSD) Dominant Bias: Bullish Gold began the current bullish movement on May 9, 2017 forming a bullish bias on the market. Price is currently above the support level at 1270.00, going towards the resistance level at 1280.00. Before May 9, 2017, there was a severe selling pressure in the market, but that May loss […]

The problem of trading in uncertain times crept up on the Mentor Program Alumni forum and I have been thinking about my answer. The original answer I gave is shown below – I think one of the things you need to be able to do is to define what uncertainty is. If you opt for […]

The GBP/USD moved sideways from Monday to Wednesday, and then began to come down on Thursday. Price went downwards from the distribution territory at 1.3000 towards the accumulation territory at 1.2800 (a drop of 200 pips). The outlook on GBP pairs is bearish for this week and for the month of June 2017. Though the […]

Here’s the market outlook for the week: EURUSD Dominant bias: Bullish This pair consolidated last week, moving between the resistance line at 1.1250 and the support line at 1.1150. The resistance line at 1.1250 was tested several times, but it could not be broken to the upside, owing to the ongoing consolidation. A breakout is […]

Last week’s Trump’s / Comey cover-up feel like a distant memory as equity markets re-test all-time highs. Let’s take a look at some of the powerful price patterns that are taking shape now across the S&P 500 and the FTSE 100. S&P 500 With US politics at the epi-centre of the recent selloff, let’s start […]

It’s been a very long time since we’ve heard a piece of Eurozone data described as ‘euphoric’. It’s also very rare that the German Chancellor should comment that ‘the euro is too weak’. Such is the life of the single currency and the numbers don’t lie – the single currency is the best performing currency […]

Here’s a technical snapshot of the major FX pairs: EUR/USD EUR/USD steamrollered higher last week, surging past the 1.1100 handle with ease. With bullish momentum behind it EUR/USD looks poised to re-test the US election highs of 1.1300. Our EUR/USD strategy for this week is pretty straight forward: buy the dips on lower timeframes, unless […]