Forex Technical Update

Wednesday May the 5th, 2021 EURUSD While capped by resistance at 1.2060/80 the EURUSD remains under pressure. Support is now at 1.1980/60 the next downside target and should give the single currency a base, after breaking 1.2000. Sellers can now be found at 1.2020/30. Only a recovery back over 1.2060 will reverse the correction fromContinue reading “Forex Technical Update”

Gold Analysis May 5th 2021

Gold failed again to take out 1800.00 yesterday, and has since fallen back to support at 1772.00/1770.00 Buyers remain active on dips this morning and have take Gold up to test pivotal resistance at 1784.00. If the bulls can break here it will open up a run to 1790.00/1792.00, and even a chance of 1798.00/1800.00Continue reading “Gold Analysis May 5th 2021”

Daily Forex Support and Resistance

Wednesday the 5th of May 2021 FOREX MAJORS USDJPY Resistance 109.60 and 110.10 Support 108.90 and 108.40 EURUSD Resistance 1.2060 and 1.2110 Support 1.1990 and 1.1940 GBPUSD Resistance 1.3930 and 1.3980 Support 1.3850 and 1.3800 USDCHF Resistance 0.9150 and 0.9200 Support 0.9070 and 0.9020 COMMODITY CURRENCIES USDCAD Resistance 1.2340 and 1.2390 Support 1.2260 and 1.2210Continue reading “Daily Forex Support and Resistance”

Gold Short Term Outlook

Trading Gold was somewhat frustrating following the ultra dovish FOMC meeting. The outcome was supposed to see a USD collapse on the back of the clear message that, now was not the time to change policy, no tapering or thinking about the tapering of bond purchases by the Federal Reserve. Maybe, the market didn’t fullyContinue reading “Gold Short Term Outlook”

EURUSD is a top in place?

Whenever I think about Friday’s price action, I keep coming back to the same conclusion, it was a failure. A failure to hold 1.2060, and a loss of the upward momentum. Today we may see some early bargain hunters looking for cheap Euro’s, but I would expect gains to be limited to 1.2060/80 before downwardContinue reading “EURUSD is a top in place?”

The week ahead, much more than Just NFP

Forex and Market Outlook for May 3rd to 8th 2021 This week could well be very eventful from data, Central Bank meetings, and political risk. However, we should first look back at events last Friday when finally, the market responded to data, that throughout April had been overwhelmingly USD positive, but ignored as US BondContinue reading “The week ahead, much more than Just NFP”

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Easy To See Trading Signal’s Simple Top & Bottom Pattern’s Breakout Signal’s You Can Trust Easy To See Support and Resistance Point and Figure charts were the original technical analysis choice of trading professionals. They provide entry and exit points, show you clear tops and bottom patterns, along with areas of support and resistance. http://www.eightdragonscapital.comContinue reading “Get Real Time Signals Every Day”

Why Use Point & Figure For Forex

http://www.eightdragonscapital.com Most new forex traders go from buying trading books, seminars and courses, flip-flopping along the way trying to unlock the secrets of time frames, Japanese candlesticks, Bollinger bands, Fibonacci numbers, counting Elliot waves, and then finally in desperation turning to macroeconomics for dummies.  Economists hate Technical Analysis and discount it as mere astrology forContinue reading “Why Use Point & Figure For Forex”