PLUS1
Foreign Exchange
GBP/USD Sustains Upside Momentum, Reaches the High of 1.4025
23 Feb 2021 @ 13:34
Key Resistance Levels:1.4200,1.4400,1.4600 Key Support Levels: 1.3200, 1.3000, 1.2800 GBP/USD Price Long-term Trend: Bullish GBP/USD had been in an uptrend since September 2020. The price has been making a series of higher highs and higher lows. Today, the pair is trading at level 1.4025 at the time of writing. The RSI has indicated that price […]
USD/CAD Retests Level 1.2740, Resumes Downward
18 Feb 2021 @ 20:35
Key Resistance Levels: 1.4200, 1.4400, 1.4600 Key Support Levels: 1.3400, 1.3200, 1.3000 USD/CAD Price Long-term Trend: Bearish The Loonie is on a downward move. The downtrend was a result of the rejection at 1.2850 High. The pair fell to level 1.263 and corrected upward. The upward correction also faced another rejection at 1.2750. Nonetheless, the selling […]
An important factor that determines your profitability (it’s not what you think)
12 Feb 2021 @ 16:45
When traders are looking for ways to become consistently profitable, they, sadly, tend to consider the wrong factors and looking for solutions in the wrong places. Yes, factors like hit rates, risk-to-reward ratios, risk control, etc. are very important to your career as a trader. Nonetheless, there is an important factor that determines your profitability, […]
AUDUSD Upside Run Holds Steady Past Mid 0.7700 Level As Risk-On Mood Undermines USD
12 Feb 2021 @ 16:32
AUDUSD Price Analysis – February 11 After it rebound from the prior week low at 0.7563 level, the AUDUSD pair has benefited from a sustained move past the MA 5 and 13 at the 0.7700 regions. The pair’s upside run continues to hold steady past the mid 0.7700 level as the underlying bias of a risk-on mood […]
Gold Price Analysis — January 30
30 Jan 2021 @ 18:02
Gold Price Analysis — January 30 Gold (XAU/USD) maintained its bearish tone through the early European session on Wednesday and was last spotted trading around the $1845 area. The bearish momentum was solely sponsored by a goodish uptick in the US dollar, which tends to undermine demand for the dollar-denominated commodity. The greenback saw a fresh […]
USD/CAD Is in an Oversold Region as Buyers Are Likely to Emerge
21 Jan 2021 @ 18:54
Key Resistance Levels: 1.4200, 1.4400, 1.4600 Key Support Levels: 1.3400, 1.3200, 1.3000 USD/CAD Price Long-term Trend: Bearish The Loonie is likely to continue its downward move. The recent upward move has been repelled by the 21-day SMA. Presently, the pair is falling and has fallen to the low of 1.2690. The loonie may reach the low […]
GBPJPY Attempts Upside Advance Beyond 142.33 Level on UK’s Vaccine Rollout Optimism
21 Jan 2021 @ 18:41
GBPJPY Price Analysis – January 21 GBPJPY’s upside march attempts to advance beyond the 142.33 level with a strong impulse to test the higher barrier at 142.71 level. The optimism about the UK’s vaccine campaign and lower cases is strengthening the case for stability in Pounds Sterling. Key Levels Resistance Levels: 147.95, 144.95, 142.71 Support […]
The Most Common Mistakes in Forex Trading
12 Jan 2021 @ 00:47
Whilst it is very simple to become a foreign exchange market (forex) trader it is wise to do some preparations before going live with a trade. A lack of preparedness and knowledge will likely lead to needless losses that those new to trading often make. Here are some of the most common mistakes in forex […]
Annual Forecast for GBPUSD (2021): After Plunge to Historic Lows GBPUSD to Further Recover
31 Dec 2020 @ 16:57
GBPUSD hit an all-time low of 1.1409 in early March 2020 in response to the coronavirus crisis. Although the pair hit a 35-year low, the pair rebounded and continued to rally amid Brexit hopes, reaching a new 2020 high of 1.3554. The risk remains heightened as long as there is hope for Brexit. Key Levels […]
Annual Forecast for EURUSD (2021): Anticipated Price Surge to 1.2555 Level Stays Stronger
31 Dec 2020 @ 16:31
Euro Dollar Exchange Rate – EURUSD is expected to trade at 1.22 and higher in 2021 by the end of this quarter. After COVID-19 disrupted financial markets and the global economy in 2020, the US dollar as a whole has weakened. Participants in the European foreign exchange market hope to see a return to economic […]
