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USD/JPY and AUD/USD Forecast — November 23rd 2020

In this video, the Trader Guy looks at the currency pairs USD/JPY and AUD/USD for the  November 23rd session. USD/JPY — The pair rallied a bit on Friday session. The 104.00 level and the formation of shooting star candlestick indicates strong resistance. Rallies towards the 50-day EMA are likely to be capped and are seen as selling opportunities. AUD/USD — The Aussie could be range bound between the 0.7300 level and the 0.7000 level. The 50-day EMA […]

EUR/USD and GBP/USD Forecast — November 23rd 2020

n this video, the Trader Guy looks at the currency pairs EUR/USD and GBP/USD for the November 23rd session. EUR/USD — The euro rallied on Friday session, but found strong resistance at the 1.19 level. Above this level is a zone of resistance. To the downside, you have the 1.15 level to offer support. The market could likely drift lower towards the 50-day EMA to find support. The market lacks a catalyst to break above the 1.20 level. GBP/USD […]

USD/INR Forecast — November 23rd 2020

In this video, the Trader Guy looks at the USD/BRL pair for the October 23rd session. USD/INR — The US dollar has shown a soft stance on Friday session, though it rallied initially. But it then rolled over and gave back some of the gains. The market could find support at the 50-day EMA. You have a double top pattern formed to offer resistance. And the market could go down as far as the 73.00 level. When […]

Gold Forecast — November 23rd 2020

In this video, the Trader Guy looks at the commodity, gold for the  November 23rd. Gold/USD — Gold rallied from the $1,850 level on Friday session. The next support comes at the $1,800 level. So, dips are buying opportunities. A break above the $1,900 level is seen as a major move to the upside. The central banks are flooding the market with liquidity. Hence, pullbacks are seen as value at the moment.

Bearish Harami — Candlestick Reversal Pattern

The bearish harami pattern is a bearish reversal pattern and consists of two candlesticks. It occurs at the top of an uptrend. The first candlestick is a bullish candlestick. It is followed by a smaller bearish candlestick contained within the range of the first candlestick. You can enter a short position with your stop-loss above the highs. Use technical indicators for additional confirmation. For example, look at this chart. At the end of this significant uptrend, you have […]

Bearish Engulfing — Candlestick Reversal Pattern

This is a bearish reversal pattern occurring at the end of an uptrend. It consists of two candlesticks. The first one is a bullish candlestick. It is followed by a larger bearish candlestick, which completely engulfs the body of the first one. You can enter a short position after the formation of this pattern with your stop-loss above the highs. Use technical indicators for additional confirmation.

Evening Star — Candlestick Reversal Pattern

The evening star is a bearish reversal pattern and consists of three candlesticks. You can locate this pattern at the end of an uptrend. The first candlestick is bullish. The next candlestick can be either bullish or bearish and gaps up on open. The third candlestick sees a sell off to confirm the pattern. You can enter a short position with your stop-loss above the highs. Do not trade using candlestick patterns only. Use […]

Dark Cloud Cover — Candlestick Reversal Pattern

The dark cloud cover is a bearish reversal pattern occurring at the end of an uptrend. It consists of two candlesticks. The first candlestick is a bullish candlestick. It is followed by a bearish candlestick gapping up on open and closes below the midpoint of the first candlestick. You can enter a short position with your stop-loss above the highs. Use technical indicators for additional confirmation. For example, look at this chart. As you can see on the chart, […]

USD/JPY and AUD/USD Forecast — November 20th 2020

In this video, the Trader Guy looks at the currency pairs USD/JPY and AUD/USD for the  November 20th session. USD/JPY — The pair has rallied on Thursday session, but then rolled over as the 104.25 level came in the way as resistance. The next target could be the 103.00 level. The area above the 50-day EMA is a zone of resistance. So, short-term rallies are to be faded, and sold on signs of exhaustion. The next target could be […]

EUR/USD and GBP/USD Forecast — November 20th 2020

In this video, the Trader Guy looks at the currency pairs EUR/USD and GBP/USD for the November 20th session. EUR/USD — Initially, the market pulled back on Thursday session, but then bounced to show signs of support below. The 1.18 level below looks supportive. The market could likely consolidate in this general vicinity for a while. There is no catalyst to push this market higher at the moment. GBP/USD — The pound looks more bullish […]

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