Currency

GOLD (XAUUSD) Dominant Bias: Bearish Gold trended downwards throughout last November, dropping over 16,000 pips from the high of 1336.98 on November 9. The overall bias is bearish, and therefore, the bearish movement is supposed to continue till the end of the year. Right now, price is consolidating, and that is what it has done […]

Euro tested after Italian referendum The euro bounced strongly on Monday, after its initial knee-jerk reaction to Italy’s referendum and yesterday’s price action appears to have put in a near-term base. Cable however is still sitting higher, as it trades off the back of headlines coming from the High Court appeal over Brexit. That said, […]

President Elect Donald Trump has used Twitter to warn US companies about moving jobs overseas in the coming financial year, stating ‘35% tax on companies wanting to sell their products back across the border’. He took aim at US companies who want to produce products from outside the US, then sell them back into the […]

Sterling has opened this morning with huge gains, as Italian Prime Minister was somewhat destroyed in his attempt to reform the political structure. PM Matteo Renzi has resigned following the result, leaving the Italian political infrastructure exposed and not helping the debt positions the country currently has. The now Ex Italian PM, had promised to […]

The GBP/USD ended a two-week consolidation by breaking upwards significantly, just as it was already anticipated. Price went upwards 330 pips, closing above the accumulation territory at 1.2700. GBP would rally versus some majors this week, and as it is rallying versus USD (which is also strong in its own right), further bullish movement is […]

Here’s the market outlook for the week: EURUSD Dominant bias: Bearish EURUSD consolidated throughout last week – in the context of a downtrend. A closer look at the market reveals that there has been some consolidation to the upside, and there would be some bullish attempt this week. EUR would rally versus most other major […]

REWARD VERSUS MEANING Trading success does not follow a linear trajectory, success ebbs and flows with good times and bad times. If you trade for long enough you there eventually will come a time when you question the decision you have made to become a trader. It all seemed so easy initially and there was […]

Yesterday, political news dominated the scene. In the UK, Brexit secretary David Davies and Chancellor Hammond suggested that Britain may continue to make payments to the European Union budget even after Brexit in exchange for access to the single market. The comments caused the pound to strengthen against the dollar as this is the first […]

It’s US non-farm payrolls day, which always is a big event for the US dollar and even more important this time as it is the latest release before the FED meeting. The Federal Reserve is widely expected to raise interest rates in December as recent economic data have mostly been strong and supporting the case […]

Mark Carney, Bank of England Governor, has issued a warning to all UK households that the annual debt may be spinning out of control. Credit cards and other forms of unsecured debt are at their highest level for a number of years, as consumers carried on using false money for purchases. After releasing Stress Test […]