Dollar Has to Make one More Small Step for a Major Buy Signal

Indices continue the buying bonanza.

Commodities fall down, mostly due to the stronger USD.

Dollar Index creates an iH&S pattern.

EURUSD breaks the neckline of the H&S formation.

AUDUSD bounces from the upper line of the triangle.

USDCHF with almost identical setup as the Dollar Index.

CADCHF breaks the upper line of the triangle and aims higher.

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

American Dollar Close to a Major Buy Signal

GBPUSD reaches and bounces from a crucial horizontal resistance.

USDCHF creates a right shoulder of the iH&S pattern.

NZDUSD, on the other hand, creates a right shoulder of the H&S pattern; we are close to the neckline.

NZDCAD is in an even better spot as here the price is breaking the neckline as we speak.

CADCHF locked inside of a big symmetric triangle. Waiting for the breakout.

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

Dollar Tries a Reversal. Indices Still Hold Up High

Fear&Greed Index points towards a bearish movement.

Put/Call Ratio as well.

Gold still in positive territory despite the recent drop.

Dax settles above 13800.

SP500 bounces from the 3780.

Dollar tries a reversal.

EURUSD touches the long-term up trendline.

EURJPY breaks and settles above a major horizontal resistance.

AUDJPY finally breaks the neckline of the iH&S formation.

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

Are We One Step Closer to a Major Correction?

Gold advances higher after the breakout from the flag formation.

Brent with a potential double top formation.

Nasdaq escaped from the rising wedge pattern.

DAX bounced from the horizontal resistance again and it is starting to look ugly.

EURUSD with a triple top formation.

EURJPY drawing a possible false breakout pattern. Major sell signal on the horizon.

EURNZD going lower after the price broke the lower line of the flag and later tested it as a resistance.

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

Great Occasions on The JPY

The Santa rally is here; indices are skyrocketing with the DAX finally hitting all time highs. Pretty remarkable if you ask me but in today’s analysis I will focus on the Japanese Yen, which is part of three very interesting setups.

Let’s start  what I believe is the best pair, the EURJPY. Here, we definitely have a positive sentiment, which originally started with the inverse head and shoulders pattern in Q4. After the price broke the neckline, we got a very nice upswing followed by a flat correction shaped like a rectangle. Yesterday, the price broke the upper line of the resistance and today, for the first time since August, it’s trading above the major horizontal resistance of 126.7. Once the price closes above this resistance, we’ll get a proper buy signal.

Now the AUDJPY, where the price is preparing for a major buy signal. First of all, the AUDJPY broke the crucial long-term down trendline, connecting lower highs since 2014. Furthermore, the price created an inverse head and shoulders pattern and the price is currently trying to break the neckline. A breakout from that resistance level would trigger a proper long-term buy signal.

Finally the USDJPY, a combination of two weak currencies, which leads to a sideways. Recently, the price bounced from a combination of dynamic and horizontal resistances. If the price stays below those resistances, there’s no buy signal. We will however see a buy signal if one of two scenarios plays out; either if the price manages to close the day above the two resistance levels, or a if there’s a breakout of the mid-term dynamic support connecting higher lows since mid December. As for now, we’ll wait, the signal will most likely come soon.

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

V-Shape Reversal on Stocks. Something That We Got Used To

Gold, did not manage to break the upper line of the flag but still defends above the major support on 1850 USD/oz.

Silver on the other hand, broke both important resistances, horizontal and dynamic one.

Oil tries to defend the lower line of the channel up.

Major indices with V-shape reversals.

EURUSD aims higher again.

USDJPY denies the Inverse Head and Shoulders pattern and aims lower.

USDCAD bonces from a crucial long-term horizontal resistance.

EURAUD possibly with another false breakout, this time to the downside.

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

Precious Metals Start Week on The Front Foot, Oil The Opposite

A new strain of the COVID virus, new lockdowns, and new travel restrictions are heavily influencing financial markets, and commodities in particular. Precious metals are higher due to the fact that they’re considered safe havens and the price of oil is dropping thanks to the new restrictions in travel and movement.

In today’s trading sniper video we’ll start with Gold, which recently broke and then tested the crucial horizontal level of 1850 USD/oz. The price being above this support level is the first step to a major buy signal. The other and final step would be a breakout of the upper line of the flag formation. The price bounced from it today proving that it’s a legitimate resistance. If the price closes the day above that line, it would give buyers the green light, and possibly lead the price above the 2000 USD/oz level.

Next is Silver, which has been moving according to technical analysis expectations over the past few weeks. First of all, the bearish correction bounced from the 38,2% Fibonacci line. Then, the price broke the down trendline, which gave a proper buy signal. Today, the price is testing the 23,6% Fibonacci, which has all the criteria to be considered a crucial resistance. If the price closes the day above it, it will be a proper buy signal.

Lastly let’s move to Brent, which started the new week poorly. The price is currently breaking the lower line of the channel up formation. If it closes the day below that line, it will be a legitimate sell signal with the potential target being at the 38,2% Fibonacci line. This Fibo line is additionally strengthened by the highs from August, which make it a very appealing target.

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

Indices and Commodities Climb Higher

Commodities are enjoying the weaker USD and advancing higher.

Indices also going up, not disturbed even by new lockdowns.

EURUSD is about to test crucial horizontal resistance.

EURJPY in a sideways trend below 126.7.

AUDJPY with an inverse head and shoulder and breakout of a long-term down trendline.

USDCAD still near lows after the breakout of major horizontal support.

GBPCHF with a breakout of the lower line of the triangle.

EURAUD with a possible false bearish breakout from the rectangle.

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

Commodities Up, Dollar Down Ahead of The NFP

Gold tests 1850 USD/oz resistance

Oil breaks the upper line of the flag and aims higher

American Indices keeping close to the all-time highs

European Indices, on the other hand, performing slightly worse

Dollar Index going deeper again

EURUSD continuing a great upswing

EURJPY testing important horizontal resistance. Double top possible

AUDJPY bounces from the neckline to test important horizontal support

USDCAD continues the downswing after breaking crucial horizontal support

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

Correction on Gold and Oil Accelerates

Gold accelerates with a bullish reversal. One horizontal and one dynamic resistance are broken, time to test the 1850 USD/oz.

Brent and WTI go lower but still inside the flag.

Nasdaq continues the upswing.

DAX bounces from the lower line of the channel up.

SP500 bounces from the horizontal support.

Dollar Index collapses.

EURUSD aims significantly higher.

EURJPY surges after the Inverse Head and Shoulders pattern.

USDCAD goes deeper after breaking crucial long-term horizontal support.

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

Indices and Commodities Start December On The Front Foot

First day of December starts with strong bullish movements on major indices and commodities. Dollar, on the other hand, continues to decline further and it looks like the bottom is not in sight. In today’s trading sniper, I have three instruments from different worlds of trading: index, commodity and currency pair.

We start with Nasdaq, which in the past few days, broke two absolutely crucial resistances. The first one was the dynamic one, so the upper line of the symmetric triangle and the second one was the horizontal one so the 12200. Yesterday, buyers successfully tested that level as a closest support, which helps to lift the price further today. Sentiment is positive.

Now, we will move to Oil, where I would like to show you Brent Oil, although the situation on WTI is almost identical. What we have here is a flag formation, with a price breaking its upper line as we speak. Once buyers will manage to close the H4 candle above that resistance, we will get a proper buy signal.

I will finish this with one setup from the Forex world – AUDUSD. The price is enjoying an upswing coming from the weaker USD. Overnight, Aussie went slightly lower but just to test absolutely crucial horizontal support on the 0.734. Test was positive for the buyers, as the price bounced quite rapidly. With that rise, the sentiment is definitely positive, of course as long as we stay above the green area, as the breakout would give us a signal to go down.

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

Monday Brings Us Higher Volatility on Major Indices

Indices start the new week on local highs and then quickly collapse. The start of the European session brings buyers a bit of relief, volatility is definitely here!

DAX bounces from the lower line of the triangle.

SP500 on the other hand, bounces from the upper line of the triangle.

Gold moves gradually lower.

Oil locked in a flag, aiming the latest broken resistance.

Dollar Index heading lower again.

EURUSD do not stop the upswing.

EURAUD still defending major horizontal support.

The same goes with the USDCAD, which is holding above 1.297.

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

Dollar Ends November With Another Downswing

Dollar starts the last Friday of the month with a negative sentiment. It is not a surprise of course as the whole month was negative from the very beginning till the end.

We will start today’s trading sniper with the Dollar Index as it will help us show you the general sentiment for the Greenback. DXY is in a negative territory after breaking absolutely crucial horizontal support on 92. With this breakout, the way towards new long-term lows are widely opened. This does not come as a surprise as we were expecting this scenario before the US Elections.

Now, let’s move to the major currency pair with the USD, EURUSD. Here the price successfully broke the major mid-term resistance and the psychological barrier on 1.19. We not only broke it but also defended it as a support, which adds additional confirmation. Buyers are winning and the sentiment is definitely positive.

We will finish with AUDUSD, which is also doing very well. In the short-term, the price escaped from the flag pattern and broke the major resistance on 0.737. In the longer-term, we escaped from the symmetric triangle pattern and we are inside of the channel up formation. The price is currently testing it’s upper line, which may be a good occasion for a correction but the bullish momentum is quite strong, which means the pair might just keep going higher and higher.

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

Buyers Struggle to Keep Indices Higher

Indices started European session relatively high but buyers failed to hold prices in the bullish territory.

DAX creates a false bullish breakout pattern.

SP500 corrects the bullish breakout from the symmetric triangle.

FTSE with a potentially dangerous triple top formation.

Oil pushing higher but chances for a correction are rising.

Gold stays below crucial resistance on the 1850 USD/oz.

Dollar Index fights on important mid-term support.

AUDUSD defends upper line of the ascending triangle.

EURUSD defends 1.19.

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

Gold Crashes Crucial Support

Seems that the beginning of this week is all about breakouts. We have important breakouts of crucial levels on major instruments. In this video, we will traditionally analyze three instruments but you can be sure that we picked the best ones!

Lets start with Gold, which currently is on the lowest levels since the middle of July. Today and yesterday’s candles look very negative and the reason for that is the breakout of a crucial horizontal support on 1850 USD/oz. This is definitely negative and brings us a proper sell signal.

Now we move on to indices, where on the other hand we have a positive sentiment. SP500 escaped from the symmetric triangle pattern present in the last two weeks. The breakout is to the upside, so it brings us a mid-term buy signal.

From New York, we move to London, where FTSE is having a similar situation. Here, the price also broke the upper line of the triangle and is aiming higher. Sentiment is positive and we should be aiming 6500 now, so the major resistance from June.

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

 

Monday Starts Promising for Indices and Commodities

Indices starts the new week on the front foot.

SP500 is inside the short-term symmetric triangle pattern.

Nasdaq is in the same formation but in the long-term.

DAX is inside of the ascending triangle formation awaiting bullish breakout.

Gold still trades above 1850 USD/oz.

Brent Oil flies away after breaking the upper line of the triangle.

Dollar Index attacking crucial horizontal support.

AUDUSD attacking the upper line of the triangle.

EURAUD is about to test the lower line of the long-term sideways trend.

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

 

Commodities Finish This Week With a Buy Signal

Today we have a quite unique trading sniper video as we will focus on commodities. The reason for this is that on metals and oil we are in very interesting spots that requires our attention.

First, let’s start with Gold, which after July’s hype is rather in a downtrend. Downtrend that has clearly established support and this support is the 1850 USD/oz. We tested it already in September and in November, twice. The last test was yesterday and it was very positive for the buyers. By very positive I mean that the price bounced from this level and managed to create a hammer on a daily chart. That is promising and as long as we stay above the 1850 USD/oz, we do not have a sell signal.

Now Silver, which in terms of technical situation is in an even better spot than gold as the price is further from the crucial support as we are in the middle of the symmetric triangle pattern. Once the price will break the upper line, we will have a buy signal and breaking the lower line of this formation, will bring us a signal to sell.

Now Brent Oil, which is creating a mid-term buy signal as we speak. In the longer-term , we are in a similar situation like in Silver as we are inside of the symmetric triangle pattern but in the short-term, the price just broke the dynamic resistance, which gives us a buy signal. The first target is on the upper line of the triangle and changes that we will get there are quite significant.

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

Dollar With a Bullish Correction

Nasdaq is locked inside of the symmetric triangle and is waiting for a breakout.

DAX pretty much the same but inside of the ascending triangle.

FTSE with a dangerous head and shoulders pattern.

Gold is aiming for 1850 USD/oz.

Dollar Index bounces from a crucial horizontal support.

EURUSD goes lower after two daily shooting stars on 1.19.

GBPUSD with a double top formation.

CHFJPY breaks the lower line of the symmetric triangle pattern.

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

Indices Ready to Climb Higher. Bad Spot for The USD

Who would have thought that after the vaccine news from Pfizer, attractions on the market will last only for a while. After the initial upswing, the market entered a sideways trend, which lets say…is a little bit boring. Worry no more though, we have it covered and we are presenting you three very promising trading setups on different types of instruments.

First, an index – German DAX. Here, the price managed to break the dynamic resistance connecting recent lower highs. That was very positive but after that, the price created a pennant formation, which basically is a flat correction. In theory, this should end with the breakout to the upside but buyers need to be cautious. The price breaking the lower line of this formation will be negative and can bring us a sell signal but this option is currently less likely to happen.

From indices we move to currencies, where we will analyze the Dollar Index. DXY is in a very important place – long term horizontal support on 92.2. We already tested it a few times but sellers are not giving up and pressure arrises. Price closing a day below 92.2 will be a proper, long-term sell signal.

From currencies, we move to commodities, where I would like to show you Platinum, the price is testing crucial dynamic resistance. Sentiment is positive, as the price already broke important horizontal resistance, on Monday. Price closing a day above the red line, will be a proper buy signal.

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

Few US Stocks That Could Brighten Up Your Portfolio

Markets are really quiet recently and that is why we will shift our focus towards the American Stocks, coming in right on time as Axiory have increased their product offering by introducing CFD stocks on MT4. This can significantly help you diversify your portfolio and take advantage of more trading opportunities.

Apple is testing the upper line of the symmetric triangle.

Home Depot locked in the sideways trend, waiting for a breakout.

McDonald’s defending the neckline of the H&S formation.

Netflix aiming for the lower line of the rectangle.

Pfizer with a false bullish breakout.

Prudential enjoying the buy signal after the breakout of the upper line of the triangle.

Tesla testing the lower line of the triangle.

Western Digital with a fresh buy signal coming from the breakout of a major resistance.

Micron Technology enjoying a proper buy signal after making new long-term highs.

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