Technical Analysis

AUDUSD: Buy Following what could be rightly termed a Bullish Confirmation Pattern, the AUDUSD has given a clear indication of a bullish signal. Since last week, the price has closed above the EMA 56, while the RSI period 14 moved above the level 50. Within the same week, the novel bias was morbidly threatened during […]

Pound Sterling – At the start of the week the Pound was trading above a two-week high against the US Dollar as the UK awaited the birth of its future King. The currency found support by comments made by Prime Minister David Cameron that taxes could be cut in the near future as the UK economy […]

The GBPUSD is approaching critical levels where this could change its trend. However, the trend remains bullish. This pair is forming a lower high pattern, below the resistance  level of 1.5378 and below the SMA 200. If the pair manages to break that level, it is expected to rise to the level of 1.5515. However, […]

The EURUSD continues to consolidate up and still no signs of change in trend, so this pair is very strong. EURUSD continues forming a lower high pattern, below the resistance level of 1.3241 and above the SMA 200 at the level of 1.3117. If the pair manages to break that level, it is expected to […]

New World Oil stock (LSELNEW) has long been consolidating in what could be rightly called a downtrend. It is assumed that the price would drop further after the consolidation has run its course. The price has been running lower since the beginning of this year. It even gapped down on early February 2013. Since late […]

The volatile shares of Providential Resources (LSE:PVR) have invariably been involved in upswings, followed by far significant downswings. Right now, the price could experience another significant plunge after the recent massive gap-down. Historically, it would be seen that any rallies in this market have been weak and the subsequent dips in the price have been […]

In the last several trading days, the currency instruments have been able to maintain their overall outlook, though the majors do not move that significantly, except the JPY pairs. The EUR and the GBP are strong, while the JPY and the USD are weak. Matching these weak and strong currencies together with sensible logic would […]

The AUDUSD is trying to continue its bearish trend, but this is within a range that generates a lot of volatility in the Aussie. AUDUSD is within a range between 0.9302 and 0.9028. This pair has to make a break for some of these levels, in order to be clear about the trend of this […]

Mindset matters a lot. Yes, when one is agitated and angry, she/he may stay out of trading. It’s best to trade when the mind is fresh or the mood is better. We make profits from big and small risks. Small risk brings small profits and small losses. Big risk brings big profits and big losses. […]

Recently, I went to a local cash office. There were many customers there, and while I was waiting for my turn, a man asked me what I did for a living. I was happy to reply him that I’m a Forex trader and a market analyst. “Forex,” the man said, “ruined many people, including me, […]