GBP/USD is Bullish but Before We Should See a Retracement

The GBP/USD is bullish but before the next bounce we might see a retracement.

Yesterday we were witnessing a drop in the GBP/USD. It was normal as it’s a part of a retracement. We could see the market bullish again probably around 2 POC zones. 1.3600-10 is the first zone and below 1.3600 we should see a drop towards the second zone. The second POC zone is 1.3505-1.3522. This is a stronger POC so the bounce could be happening here too. Targets are 1.3680 and 1.3730.

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Cheers and safe trading,

Nenad

 

Silver Sellers Prevail in a Ranging Market

Silver is still bearish but we could see ranging market conditions until it breaks the range (blue lines).

This is consolidation playing out. If the market gets to the POC zone 26.20-26.43, expect a possible drop. Targets for the silver move are 25.12 and 24.77. The final target is 24.46. Sellers are still dominating and this short trend prevails in 2021. Only above 27.31 we might expect trend change but at this point selling the rallies is the best option.

For a look at all of today’s economic events, check out our economic calendar.

Cheers and safe trading,

Nenad

 

GBP/AUD W H3 Confluence For New Short Trades

The GBP/AUD might possibly complete the retracement soon and we should see a move down.

The POC zone 1.7599-1.7623 is additionally supported by the W H3 camarilla pivot. We can also see the D H5 resistance which adds to existing confluence. The pair should make a move down towards 1.7521 and 1.7480. If the targets are reached then it will be a decisive point for the pair. Either continuation down to 1.7459 or a move to the upside as a retracement again.

For a look at all of today’s economic events, check out our economic calendar.

Cheers and safe trading,

Nenad

Gold has Taken out the Important Support

As previously shown, Gold has broken below 1869, critical support. Downtrend is in progress.

We can see the POC zone 1848-52. If the market continues with the trend, which is now bearish we might expect a move towards 1821 and further down to 1794. Sellers should be in control from the POC zone. Have in mind that the first couple of weeks after the New Year can be tricky as the trends still need to form. However, we should expect the main move of Gold to be down during this week.

For a look at all of today’s economic events, check out our economic calendar.

Cheers and safe trading,

Nenad

 

Gold is at Critical Support Level

Gold is bullish and after a big retracement we might see the final attempt from bulls to spike the price up.

1879-1888 is the critical support zone. Below 1869 the weekly trend will change to bearish. If we see the bounce from the POC zone watch for 1914 and 1938 as targets. However, a break below 1868 might instruct the market to remain bearish next week so we will sell on rallies. Have in mind that GOLD is volatile and big moves can happen on Friday.

For a look at all of today’s economic events, check out our economic calendar.

Cheers and safe trading,

Nenad

 

Gold Bulls are Still Reigning

Gold is bullish and after a big retracement they are ready to continue with the trend.

1893-1900 is the zone where the bounces should happen. Continuation of the trade happens if the price breaks 1934.85. However if the 1885 is lost we should see a move down to 1869 and Gold will start to be bearish then. At this point, safe haven flights still go into GOLD and buying the dips is the option.

For a look at all of today’s economic events, check out our economic calendar.

Cheers and safe trading,

Nenad

 

GBP/USD Bulls are Waiting in the Ambush

The GBP/USD is in a strong uptrend. We should see a continuation towards higher levels after the POC rejection.

1.3457-85 is the zone where the GBP/USD could reject. In the case we get there, the retracement might be good to show fresh buyers. Targets are 1.3718 and 1.3789. If there is no retracement pay attention to 1.3718 as the price could continue going higher without slowing down. Buying the dips is the way to go.

For a look at all of today’s economic events, check out our economic calendar.

Cheers and safe trading,

Nenad

 

AUD/USD Bullish ZigZag Aiming for Higher Levels

The AUD/USD is in uptrend and continuation is expected. We should see a bounce from the POC zone.

The POC zone 0.7616-0.7630 is potentially very strong for the bounce. However, the price is still in a retracement and we should see a drop before the next move up. If the bullish trend continues we should see 0.7725 with 0.7761 and 0.7767 being hit. Only below 0.7600 we should expect a deeper correction and a possible reversal.

For a look at all of today’s economic events, check out our economic calendar.

Cheers and safe trading,

Nenad

 

GBP/JPY Another Bounce is Possible

The GBP/JPY should make a bounce from the 88.6 zone as the price is still technically bullish

The POC zone for the GBP/JPY is exactly within 140.12-30. We should see an upmove which should be signalled if the price starts to reject from the zone. Targets are 141.42, 141.60 and 141.90. Only a drop below W L5 camarilla 139.38 could make the price bearish again.

2021-01-04 GBP/JPY

For a look at all of today’s economic events, check out our economic calendar.

Cheers and safe trading,
Nenad

GBP/NZD is at the Crossroads

The GBP/NZD is at the crossroads and the price will move either to the upside or bounce lower below resistance.

The POC zone is 1.8840-50 and we should see the price moving up as the price is still technically in uptrend. If we see a bounce, targets will be 1.8915, 1.8950 and 1.9011. However, a close below D L3 1.8840 will possibly target 1.8804 and 1.8744. As the price is at its final support, my bias is to the upside.

For a look at all of today’s economic events, check out our economic calendar.

Cheers and safe trading,

Nenad

 

EUR/USD Breakout above the Resistance Level

The EUR/USD is bullish and breakout higher is expected. We see a flat top ascending triangle and potential breakout is expected higher.

1.2257 is the resistance level. We should see the breakout and the price will go higher. However, if the price drops to POC we might see fresh buyers. Positional trades come around 1.2200-10 while breakout trades happen above 1.2260. Targets are 1.2274, 1.2289 and 1.2332.

Break below 1.2196 should target lower levels 1.2170 and 1.2150.

For a look at all of today’s economic events, check out our economic calendar.

Cheers and safe trading,

Nenad

 

GOLD is Poised to Go Higher

GOLD is in uptrend and I expect continuation of the bullish move. We can see the rounded bottom as an additional cue.

The POC zone should spike the price up. Continuation above W L3 camarilla should happen today. 1875 zone is where the buyers are. Targets are 1890 and 1902. The final target is 1916. Only the move below 1850 could change the trend. At this point buying the dips is the option and gold is poised to go higher.

For a look at all of today’s economic events, check out our economic calendar.

Cheers and safe trading,

Nenad

DAX Gap is Still There but It Should be Closed

DAX shows a gap but the price has been trying to recover. The gap might close today.

If the gap is closed we should see another potential drop. The POC zone sits exactly at the 88.6 and we can also spot historical sellers. It is close to W H3/ D H5 camarilla resistance. Watch for rejection in the POC zone 13650-13700. Targets are 13487 followed by 13256. However a close above 13800 will make the price bullish.

For a look at all of today’s economic events, check out our economic calendar.

Cheers and safe trading,

Nenad

GBP/JPY Going for New Highs

The GBP/JPY has formed an ascending scallop pattern and we could see new highs today.

At this point the market is going towards the D H4 camarilla resistance. We could see a breakout towards W H4 140.38 and D H5 – 140.62. However for intraday traders, waiting for a retracement could be the option. POC 139.50-50 is the first zone where we might expect price to react. The 2nd POC 139.10-30 is a deeper retracement. Buying the dips looks like the best strategy at this point.

For a look at all of today’s economic events, check out our economic calendar.

Cheers and safe trading,

Nenad

USD/CAD Rejection Happens After a Retracement

The USD/CAD has formed a retracement pattern. There are two rejection points where we might see the drop from.

The first POC zone is exactly at 1.2770-80. The confluence of descending trendline 50.0 and D H3 camarilla resistance constitute the POC. If the price retraces higher, we should see 1.2810-20 and this is the final point where we could see the price rejection. Targets are 1.2741 and 1.2722.

For a look at all of today’s economic events, check out our economic calendar.

Cheers and safe trading,

Nenad

 

EUR/JPY Bulls are Waiting in the Ambush

The EUR/JPY is ranging but there is a possibility that the price will bounce. Watch for the POC zone or break higher.

At this point we can see that the price is rejecting D H3 and the lower trend line. We could see a bounce towards the D H5/W H5 128.92. However if we see a retracement, watch for 126.70. There, buyers might be waiting to spike the price up. The final target is 128.92. A break below 126.60 and bears are taking control.

For a look at all of today’s economic events, check out our economic calendar.

Cheers and safe trading,

Nenad

 

EUR/USD Bulls are Waiting for Retracement

The EUR/USD is bullish. The price is in retracement, so if the market drops to the POC zone we will possibly see a bounce.

1.2070-80 is the zone where bouce is expected. We can also see historical buyers at the same zone. It’s Friday so profit taking should take place later in the day. Targets for the move if the proce bounces from the POC zone are 1.2118, 1.2164 and 1.2188. Bears will have the chance only if the price drops below 1.2050.

For a look at all of today’s economic events, check out our economic calendar.

GOLD Bearish SHS Formation for Downtrend Continuation

Gold is again bearish. After some days of bullish retracements, it came down exactly from the resistance of the last swing.

At this point we can see that GOLD is showing Bearish SHS formation at the top so we might see another rejection. This time the rejection might come at 1848-58 zone and the price could drop towards 1827. Below 1827 we should see 1815 and eventually 1794. It has become clear that 1870 zone is resistance so any push into it could make bulls try again to reverse the trend.

For a look at all of today’s economic events, check out our economic calendar.

 

EUR/JPY Descending Channel Formed

The EURJPY has come to the top of the channel. Descending channel could tank the price.

124.46-56 is the POC zone. We can see the channel top making a confluence with D H5 camarilla pivot. If the price drops 126.28, 126.17 are targets. The break below 126.17 should target 125.96 and 125.85. A close above the channel will possibly invalidate the bearish setup. Selling at the top is my favourite scenario here.

For a look at all of today’s economic events, check out our economic calendar.

GBP/JPY Bears are Getting Stronger

The GBP/JPY retracement is having more space to the upside. However, if it gets to the POC zone, bears might get another push lower.

This market is currently in a retracement mode. We could see a move to the upside, followed by a possible rejection lower. The POC zone is very close to D H4 camarilla pivot + 78.6 Fib. We should see a rejection within 140.09-140.37. If we get it, the price might drop further. The final target is 137.57. However if any Brexit deal is made, than the GBP/JPY will bounce abocve 140.60, negating this bearish setup.

For a look at all of today’s economic events, check out our economic calendar.