AUDUSD – Correction Continues Higher
The bigger picture is the loss of 0.6705 base support and the plunge thereafter. The pair printed a low of 0.5510, losing almost 1,200 pips....
Posted On 31 Mar 2020
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GBP Rallies Despite Fitch Credit Downgrade
UK Under Pressure In the latest development to highlight the severity of the economic damage being caused by the ongoing coronavirus outbreak,...
Posted On 31 Mar 2020
Consumer Confidence Index To Plummet In March
The numbers will have much to do with the way the pandemic has changed our way of life. We will be seeing the consumer confidence data coming out...
Posted On 31 Mar 2020
XAUUSD Consolidating After A Strong Recovery
Gold prices are trading rather flat on the day following last week’s gains. Price action is trading near the ascending wedge pattern amid some...
Posted On 31 Mar 2020
WTI Crude Oil Slips To Fresh Lows
Oil prices are down over 6% on the day as price broke past the previous support of 22.00. On an intraday basis, oil prices fell to lows of 19.85...
Posted On 31 Mar 2020
GBPUSD Continues To Maintain A Bullish Position
The British pound is retracing some of the gains from Friday’s session. However, price action looks bullishly positioned. There is scope for a...
Posted On 31 Mar 2020
Euro Likely To Position For Further Gains
The euro currency slipped, losing more than 0.50% on the day. However, price is being supported off the lower median line. If price follows...
Posted On 31 Mar 2020
The Week Ahead: Herd Immunity
EURAUD Struggles to Keep High Ground The euro is facing strong headwinds as the block struggles to come up with a concerted rescue plan. Calls...
Posted On 30 Mar 2020
Chinese Economy In Severe Threat
The outbreak of coronavirus this year has had a devastating impact across the globe, inflicting severe human and economic damage. In China, the...
Posted On 30 Mar 2020
WTI Crude Oil Back At Support
Oil prices gradually declined to fall back to the support area near the 22.00 handle. This marks a third attempt in the commodity near this...
Posted On 30 Mar 2020
Euro on track towards 1.1200 handle
The euro currency maintains a strong bullish momentum, with price action surging close to one percent on Friday. The common currency closed at...
Posted On 30 Mar 2020
Can GBPUSD Rally Back To The 1.286 Resistance?
The British pound is in a strong rally as price action continues to close with daily gains over the last four days. GBP is up nearly 7.80% from...
Posted On 30 Mar 2020
Will XAUUSD Breakout From The Ascending Wedge?
Gold prices consolidated into the close of last week with an ascending wedge pattern. With price action below the 1655 handle, this suggests a...
Posted On 30 Mar 2020
Metals Rally As Markets Recover
Gold The yellow metal enjoyed a much better session this week as prices rallied firmly. The gold market has now traded back up to 1631.67 (as of...
Posted On 27 Mar 2020
Crude Oil Struggles Near Pivot Highs
WTI Crude oil prices are trading weaker, down over 4% on the day. This comes amid the trend line holding up as dynamic resistance. If the...
Posted On 27 Mar 2020
Further Upside For GBPUSD After Clearing 1.20
The British pound is up over 2% on the day after clearing the 1.2000 handle. In the near term, the 1.2000 region will be tested. The current...
Posted On 27 Mar 2020
Euro Rises Over 1% On The Day
The euro currency is up over 1.3% on the day. Gains come for the fifth consecutive day as the US dollar is easing. After clearing the resistance...
Posted On 27 Mar 2020
What’s Happening In Mexico?
The Central Bank of Mexico brought forward its policy meeting by one week and cut the reference rate by 50 points. This came fast on the heels of...
Posted On 26 Mar 2020
Crude Inventories Rise For 9th Straight Week
Crude Inventories Rise Again In yesterday’s report, the Energy Information Administration reported a further build in US crude inventories. In...
Posted On 26 Mar 2020
Euro Maintains A Steady Hand
The euro is rising gradually with the gains coming at a modest pace. After breaking out to the upside above 1.0787, price action is holding above...
Posted On 26 Mar 2020
Sterling Consolidation Likely To Continue
The British pound made some modest gains on Tuesday but price action fell sharply intraday. However, prices are now recovering from the intraday...
Posted On 26 Mar 2020
WTI Crude Oil Holding Steady Above 22
WTI Crude oil prices are holding steady despite retracing some of the gains from earlier in the week. Price action is currently forming a higher...
Posted On 26 Mar 2020
XAUUSD Maintains Gains Above 1600
Gold prices are holding steady after rising above the 1600 level. Support is being tested near the 1594 level currently. If the support holds,...
Posted On 26 Mar 2020
Common Mistakes All Forex Traders Make
Everyone makes mistakes; it’s part of being human. And traders are not the exception to being human. Though, often, the FX best traders are the...
Posted On 25 Mar 2020
EURGBP – Potential Consolidation With Momentum To The Lower Side
With the backdrop of the current pandemic, the euro found temporary safe haven status finding willing buyers. The strength in the euro caused...
Posted On 25 Mar 2020
Shocking Drop In US/UK/EZ Service Sector PMIs
The latest set of PMI data out of the UK and Europe painted a picture of doom and gloom this week. Amid the first set of data to properly account...
Posted On 25 Mar 2020
XAUUSD Surges Over 4%
Gold prices are rising over 4% as price action broke past various resistance levels. The gains came following the major resistance level 1534 was...
Posted On 25 Mar 2020
WTI Remains Range Bound
Crude oil price action remains modest with price erasing the gains made earlier in the day. Oil prices continue to remain slightly volatile in...
Posted On 25 Mar 2020
GBP Attempts A Rebound For The Second Time
The pound sterling is up over 1.5% intraday. The rebound comes as price briefly fell back to the support area of 1.1497. With the double bottom...
Posted On 25 Mar 2020
Euro Breakouts From Range
The euro currency broke out from its range between 1.0787 and 1.0663. The upside breakout comes as the Stochastics oscillator points to a hidden...
Posted On 25 Mar 2020
USDCHF: Wave Count Suggests Further Upside
The current USDCHF structure shows a completed cycle degree correction in wave x which is followed by a bullish zigzag consisting of primary...
Posted On 24 Mar 2020
Preview: German IFO Paints A Depressing Picture
The only notable data for the European markets comes in the form of the German Final IFO Business Climate. And it is likely to make an impact on...
Posted On 24 Mar 2020
EURNZD – Potential Big Swing Coming Into Play
EURNZD has been on a retrace ever since it matched 10-year highs last week at 1.9927. Technically, the pair is looking set to test back those...
Posted On 24 Mar 2020
The Fed Takes Unprecedented Policy Step
Fed Fighting Hard For The Economy As the corona virus crisis continues to dominate market action, central banks are taking increasingly...
Posted On 24 Mar 2020
Can Gold Breakout To The Upside?
The precious metal made solid gains on Monday, rising close to 3% intraday. The gains came as the Fed announced its open-ended asset...
Posted On 24 Mar 2020
WTI Crude Oil Settles Back Near $22
Crude oil prices are modestly weaker, down over 5% on the day. This comes as price action is back to testing the support level of 22.00. Given...
Posted On 24 Mar 2020
Sterling Gives Back Gains From Previous Sessions
The British pound is trading weaker once again, down over 1.5% intraday. The declines erase the modest gains from late last week. As price action...
Posted On 24 Mar 2020
Euro Moves Into A Tight Range
The euro has stabilized as price action remains within the confines of 1.0787 and 1.0663. With the possibility of a double bottom in place near...
Posted On 24 Mar 2020
SPX500: 1753.0 Likely To Complete Major Bearish Impulse
The medium-term SPX structure hints that a new large bearish trend is forming in the market, the initial part of which takes the form of a 5-wave...
Posted On 23 Mar 2020
Can GBPCAD Orchestrate A Meaningful Bounce?
It’s been a roller coaster ride for GBPCAD. The pair has carved a huge range with a potential temporary base at 1.6300, and a potential temporary...
Posted On 23 Mar 2020
Fed Announces Fresh Funding As Crisis Worsens
US Unemployment Surging The latest data out of the US last week showed a dramatic surge in unemployment claims. Claims shot higher to 281k from...
Posted On 23 Mar 2020
The Week Ahead: “Whatever It Takes” To Soothe Jittery Markets
GBPJPY Rebounds Amid Economic Concerns The pound sterling went into a stiff sell-off as Britain grapples with its colossal public health crisis....
Posted On 23 Mar 2020
XAUUSD Consolidates, Correction Likely
Gold prices marked a modest recovery, rising 1.71% into Friday’s session close. With the lower levels seeing higher demand, XAUUSD is firmly...
Posted On 23 Mar 2020
Has WTI Crude Oil Hit A Bottom?
Crude oil prices fell over 6% into Friday’s close following a brief rally to the 28.00 handle which previously marked a bottom. Following the...
Posted On 23 Mar 2020
GBPUSD Settling Into A Sideways Range
The pound sterling gave back some of the gains from last Thursday as a result of the BoE rate cut. Price action is lower again, but a bottom...
Posted On 23 Mar 2020
Is The Euro Setting Up For A Rebound?
The euro managed to recover slightly into Friday’s close, but is still down over 7% from the 9th of March close of 1.1470. Price action on the...
Posted On 23 Mar 2020
What Are The Most Popular Reversal Patterns?
Reversal patterns, as the name suggests, change the course of an ongoing trend, whether it is bearish or bullish. For example, if the price...
Posted On 20 Mar 2020
How To Trade A Credit Crunch
As we mentioned in our last article, we are in the midst of a credit crunch. Central banks are engaged in unprecedented actions in an effort to...
Posted On 20 Mar 2020
Has FTSE (UK100) Found A Bottom?
The financial meltdown has spared no indices. The UK100 plummeted to levels last seen in 2011, just shy of the critical level at the 4500 handle....
Posted On 20 Mar 2020
Metals Meltdown Continues
Gold It’s been another very volatile week for gold. Prices extended last week’s declines to trade lows of 1451. The sell-off this week has...
Posted On 20 Mar 2020
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Forexalchemy.com is made available as an online source of Foreign exchange trading information and related-materials only. By using ForexAlchemy you acknowledge and understand that we are not soliciting participation in Forex trading. You also acknowledge and agree that there are large potential risks associated with investment and trading activity and that you have accepted such risks before deciding to invest and before deciding to use ForexAlchemy as a source of trading-related information and materials. Please read our full disclaimer and terms of use before using this website:
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