Posts Tagged ‘technical analysis’

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What Is Technical Analysis? — Explained

Technical analysis is the study of price movements using charts. It uses historic chart data to predict the future. Patterns repeat themselves. So, you can find information about current market trends, chart patterns showing interaction of buyers and sellers, use technical indicators for entry and exit signals, etc. With all these information you can make wise trading decisions. Trading algorithms also use technical […]

USD/JPY and AUD/USD Forecast — July 10th 2020

In this video, the Trader Guy looks at the currency pairs USD/JPY and AUD/USD for the July 10th session. USD/JPY — The USD/JPY pair tried to rally initially on Thursday session, but the 107.50 level proves to be strong resistance at the moment. Also, the 200-day EMA above will be strong resistance. A break above this moving average is a strong bullish move to the upside and the 110.00 level could be the next target. This market […]

EUR/USD and GBP/USD Forecast — July 10th 2020

In this video, the Trader Guy looks at the currency pairs EUR/USD and GBP/USD for the July 10th session. EUR/USD — The market has turned around to the downside from the 1.1350 level, which has offered strong resistance. To the downside, the 1.12 level is supportive. Further to the downside, the next support comes at 1.10. In the meantime, you can expect this market to be choppy. GBP/USD — The pound has formed a bearish candlestick on Thursday session. […]

Gold Forecast — July 10th 2020

In this video, the Trader Guy looks at the commodity, gold for the  July 10th session. Gold/USD — The $1,800 level was tested for support on Thursday session. This level was previously resistance and now should act as support. The next target is the $2,000 level. The central banks around the world including the Fed and the ECB are flooding the market with cash. To the downside, the 50-day EMA, and the $1,750 level look supportive. The US dollar […]

EUR/USD and GBP/USD Forecast — July 9th 2020

In this video, the Trader Guy looks at the currency pairs EUR/USD and GBP/USD for the July 9th session. EUR/USD — The trading session was strongly bullish on Wednesday, but the market struggles to overcome resistance at the 1.1350 level. The 1.14 level is seen as the beginning of a strong supply zone. However, the market lacks clarity at the moment. So, fading short-term rallies that show signs of exhaustion is the only way to play this market at the moment. […]

Bitcoin Forecast — July 9th 2020

In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the July 9th session. Bitcoin/USD — The trading session was slightly bullish for bitcoin on Wednesday session. As the greenback got hammered and gold broke above the $1,800 level, it makes sense that bitcoin has managed to gain a bit. The market is struggling to break above the $10,000 level, which is psychologically significant, and strong resistance. To the downside, the 50-day EMA, and the $9,000 level […]

Gold Forecast — July 9th 2020

In this video, the Trader Guy looks at the commodity, gold for the  July 9th session. Gold/USD — Gold has broken above the $1,800 level on Wednesday session. Now, the $1,800 level will act as support, and pullbacks are buying opportunities at the moment. To the downside, the area down to the 50-day EMA look supportive. Hence, the market should find plenty of buyers when it falls down. The Fed and the ECB are flooding the market with […]

EUR/USD and GBP/USD Forecast — July 8th 2020

In this video, the Trader Guy looks at the currency pairs EUR/USD and GBP/USD for the July 8th session. EUR/USD — The euro struggled on Tuesday session, as the 1.1350 level proves to be strong resistance at the moment. So, you can expect the market to pull back towards these lows again. So, it looks likely that the market could remain in consolidation in this general vicinity. To the downside, the 1.1175 level could be the next target. […]

Gold Forecast — July 8th 2020

In this video, the Trader Guy looks at the commodity, gold for the  July 8th session. Gold/USD — The Monday session saw the gold market to pull back initially, but the $1,800 level offered support, and pushed the prices higher. There is a confluence of support at the $1,750 level and the 50-day EMA. Hence, pullbacks are seen as value at the moment. The $1,800 level is seen as the next target to the upside. With the Fed and the ECB killing their […]

USD/BRL Forecast — July 8th 2020

In this video, the Trader Guy looks at the USD/BRL pair for the July 8th session. USD/BRL — The trading session was initially bearish on Tuesday. However, the market found support at the current level to show signs of life at the 50-day EMA, forming a bullish candlestick. The coronavirus situation in Brazil is highly influencing this pair at the moment. A break above the recent highs opens the door towards the 5.5 level. The next target could be the 6.0 […]

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