Posts Tagged ‘technical analysis’

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Gold Forecast — October 23rd 2020

In this video, the Trader Guy looks at the commodity, gold for the  October 23rd. Gold/USD — Gold pulled back on Thursday session looking for support at $1,900. The next support is located at the 200-day EMA, which comes at the $1,800 level. So, pullbacks are seen as value at the moment. Any positive headline on stimulus in the US will cause gold to rally. A break above the recent highs is reason enough to buy gold and you […]

Bitcoin Forecast — October 23rd 2020

In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the&nbspOctober 23rd session. Bitcoin/USD — Bitcoin is facing strong bullish pressure at the moment to break above the $13,000 level. Also, the market looks parabolic at the moment. So, wait for pullbacks, and buy at lower levels. The measured objective of this ascending triangle pattern comes at $15,000. With the possibility of a stimulus in the US, and central banks flooding the market with liquidity, bitcoin should continue […]

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

In this video, the Trader Guy looks at the currency pairs USD/JPY and AUD/USD for the  October 23rd session. USD/JPY — Though the dollar rallied on Thursday session, it struggled at the 105.00 level. You have the 50-day EMA to offer resistance. The measured objective of this descending triangle pattern comes at 102.00. Hence, rallies are to be faded at the moment. AUD/USD — The Aussie rallied a bit on Thursday session. As you can see on the daily […]

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

In this video, the Trader Guy looks at the currency pairs EUR/USD and GBP/USD for the October 23rd session. EUR/USD — As this broken uptrend line is offering resistance, the euro pulled back on Thursday session. The euro could look for the 1.17 level as the next support. With the possibility of stimulus in the US, the euro could rally again. GBP/USD — The Brexit headlines are causing confusion in the market at the moment. The 1.30 level is supportive. So, […]

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

In this video, the Trader Guy looks at the currency pairs USD/JPY and AUD/USD for the  October 22nd session. USD/JPY — The 105.00 level is broken to the downside and this is seen as a sign of weakness. As you can see on the daily chart, you can make an argument for a descending triangle pattern. The measured objective of this pattern comes at 102.00. Hence, fading rallies will work at the moment. AUD/USD — The Aussie rallied on Wednesday session […]

EUR/USD and GBP/USD Forecast — October 22nd 2020

In this video, the Trader Guy looks at the currency pairs EUR/USD and GBP/USD for the October 22nd session. EUR/USD — The euro rallied on Wednesday session to reach above the broken uptrend line. The market needs to overcome resistance at 1.1850. The possibility of the stimulus in the US is driving the euro higher. In the meantime, the market could likely consolidate for the next 2 weeks. GBP/USD — The pound also rallied clearing the 1.31 level. To the downside, the 1.30 level looks […]

Gold Forecast — October 22nd 2020

In this video, the Trader Guy looks at the commodity, gold for the  October 22nd. Gold/USD — Gold rallied a bit on Wednesday session. It was not a huge surprise as there are talks about stimulus in the US. The $1,960 level is seen as the beginning of the supply zone. So, it makes sense that gold needs a pullback, and pullbacks are buying opportunities at the moment. To the downside, the 200-day EMA is supportive.

Bitcoin Forecast — October 22nd 2020

In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the&nbspOctober 22nd session. Bitcoin/USD — Bitcoin looks very bullish at the moment. The next target could be the $13,000 level. The headlines on stimulus package could benefit bitcoin at the moment. So, pullbacks should be seen as value at the moment, and you can aim for $15,000. The $10,000 level is seen as the short-term floor in this market.

USD/JPY and AUD/USD Forecast — October 21st 2020

In this video, the Trader Guy looks at the currency pairs USD/JPY and AUD/USD for the  October 21st session. USD/JPY — The dollar rallied initially on Tuesday session, but then pulled back from the 50-day EMA. This is a sign of weakness. So, rallies are likely to roll over, and you can look for the 105.00 level as the target to the downside. Only a risk-on sentiment can cause this pair to rally at the moment. But it […]

EUR/USD and GBP/USD Forecast — October 21st 2020

In this video, the Trader Guy looks at the currency pairs EUR/USD and GBP/USD for the October 21st session. EUR/USD — The euro rallied on Tuesday session to reach the broken uptrend line and also the 1.1850 level, which is seen as the beginning of the supply zone. However, the market is expecting headlines on stimulus in the US. A positive headline will cause the euro to rally to the upside. So, fading rallies will work at the moment. GBP/USD — The 1.30 level […]

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