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EUR/USD and GBP/USD Forecast — May 26th 2020

In this video, the Trader Guy looks at the currency pairs EUR/USD and GBP/USD for the May 26th session. EUR/USD — With the Memorial Day contributing to low liquidity in the market, the euro has been hovering around the 1.09 level. The 1.10 level is psychologically significant and could offer strong resistance. The market looks likely to consolidate between the 1.10 level and the 1.0750 level. So, fading rallies, and selling them on signs of exhaustion is the way […]

Bitcoin Forecast — May 26th 2020

In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the May 26th session. Bitcoin/USD — The Monday lacked liquidity due to the Memorial Day in the United States. At the moment, the $10,000 level is psychologically significant, and is offering strong resistance. Also, the market looks likely to consolidate between the $10,000 level, and the $8,000 level. This market needs a catalyst towards higher prices. Hence, it will take a lot of effort to break above […]

Gold Forecast — May 26th 2020

In this video, the Trader Guy looks at the commodity, gold for the May 25th session. GoLd/USD — The Monday session saw the market to pullback a little bit. However, the market lacked volatility due to the holidays in the UK and the US. After the breakout from this triangle pattern, you can expect the market to find support at the $1,700 level, and the 50-day EMA. Hence, pullbacks are buying opportunities targeting the $1,800 level, and the $2,000 level.

Daily Market News — May 26th 2020

The risk appetite looks firm due to to the holidays in the UK and US leading to low volatility in the forex market. The EUR/USD pair looks bullish, but the area around 1.0950 level looks likely to be resistant, .The resistance levels are 1.0961, 1.1056, and 1.1251. The support levels are 1.09710, 1.0938, and 1.0710. The USD/JPY pair is trading in a bullish channel with new higher support levels formed. The resistance levels are 108.04, 108.21, […]

Daily Market News — May 25th 2020

The risk appetite looks firm. But the forex market is seeing little volatility due to the holidays in the US and UK. The EUR/USD pair looks bearish, but the support at the 1.0887 level is in danger of breaking down. The resistance levels are 1.0921, 1.0971, and 1.1056. The support levels are 1.0887, 1.0838, and 1.0710. The USDJPY pair is trading in a bullish channel, but there exists strong resistance at 108.04. The resistance levels are 18.04, […]

What Is the Best Session to Trade?

What is the best time during the day? Is European session better to trade? So, you need to think about volatility and liquidity. During the Asian trading session, the liquidity is less compared to the European session. For example, look at the AUD/USD pair. There is an announcement from China about import ban on some Australian products. This caused a sell off in the AUD/USD pair. However, this does not have a significant […]

How to Combine Technical & Fundamental Analysis?

In order to be successful in forex trading, you need to be able to combine both fundamental and technical analysis. The fundamental analysis gives you a wider perspective of the market and helps you to focus in the long-term. It gives you an idea of whether the currency has an outlook to appreciate in value over the long-term. You should be focusing on the macroeconomic data or the economic release for that particular currency. For example, when a central bank cuts rates, it […]

Which Currencies Do Oil Prices Impact the Most?

Which currencies do oil prices impact the most? They are the Canadian dollar, the Norwegian Krona, and the Russian ruble. Oil contributes to 14% of the overall exports from Canada. Hence, when there is a fall in the oil markets, the Canadian dollar weakens. When the oil market rises, then the Canadian dollar also rises in value. For example, look at the overlay of the USD/CAD pair on the weekly chart. The USD/CAD pair rises when there is […]

Buy the Rumor, Sell the Fact — Explained

The idea behind the buying the rumor and selling the fact is to anticipate. So, when you anticipate something to happen, then you get ready for it in advance. Assume that you want to go swimming in the afternoon. So, in anticipation, you get ready with your swimming gear. Consider another example of selling the rumor and buying the fact. For example, look at the AUD/USD chart. In this example, a short trade is taken on the AUD/USD pair […]

USD/JPY and AUD/USD Forecast — May 22nd 2020

In this video, the Trader Guy looks at the currency pairs USD/JPY and AUD/USD for the May 22nd session. USD/JPY — As you can see on the daily chart, the formation of these three candlesticks with long wicks is a sign of weakness. So, you can expect the market to pullback, and move towards the 107.00 level. And a break below these lows, then the 106.00 level is calling. The 1.07.50 level could be the beginning of the supply zone […]

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