Despite the NFP announcement on Friday the GBP/USD has remained supported by the 8-day EMA. This market is still in an uptrend and so the most likely scenario next week is a resumption of the buying pressure and a retest of resistance at 1.6800. If the market closes above 1.6800 early next week this could open the flood gates to significantly higher prices in this market.…Continue
The Crude Oil market produced a bullish price action false-break of key support today. From here we would not be surprised to see this market move higher and there will be high volatility tomorrow with the NFP announcement due out of the US.
Added by Lewis Barber on March 6, 2014 at 10:23pm — No Comments
The pound-dollar pushed higher today as the market rejected dynamic support and now looks poised to make another run higher as the uptrend regains momentum. With the NFP news announcement on Friday we expect to see a lot of volatility on this pair into the end of this week - the most likely scenario remains an upside advance.…Continue
Price is currently sitting right above key support at 1.6600 and we will be watching out for a bullish price action false-break early next week. If price closes below 1.6600 early next week we could see a move back to 1.6300 - either scenario seems equally likely right…Continue
Added by Lewis Barber on February 23, 2014 at 10:28pm — No Comments
The GBP/USD dipped back further again today towards the 8-day EMA. There is quite a lot of confluence coming in below and the trend is definitely still up so we favor looking for long positions here. Traders can look out for price action buy signals on the daily / 4-hour timeframe tomorrow to rejoin the bullish momentum in this market. There is big news out of the UK tomorrow morning so we expect to see movement on this pair…Continue
Added by Lewis Barber on February 18, 2014 at 11:05pm — No Comments
The EUR/USD found support down below 1.3500 last week, on Friday the market moved almost exactly how we predicted in our market commentary on Friday and we now see potential for more upside into next week. We will be watching 1.3700 carefully next week for any bearish price action signals as this held as resistance in the past. …Continue
Added by Lewis Barber on February 9, 2014 at 11:00pm — No Comments
This pair formed a massive price action outside bar setup today as the NZD rocketed higher along with the Aussie dollar. From here we see potential for this market to retest key resistance up near 0.8400 and we will be looking to enter long around the 50% retracement level of this outside bar with our stop-loss placed below the low (for educational purposes only).…Continue
This pair finally started to drift lower from the false-break that we discussed in last week's market commentary on Thursday and Friday. From here we see potential for the market to retest key support down at 1.6300 and will be holding our short trade for 1:2 risk / reward.
Added by Lewis Barber on February 2, 2014 at 8:30pm — No Comments
The Crude Oil market dropped a bullish pin bar from key support today and we see very high potential for this market to push higher from here. We have posted our live trade in the member's forum so please check it out for details of our entry, stop-loss and take profit.…Continue
Added by Lewis Barber on January 29, 2014 at 10:39pm — No Comments
This market seems to have established support down near 1.6300 and looks range-bound for the foreseeable future. We will wait for a push back to the top of the range and look for price action sell signals on the daily timeframe.…Continue
Added by Lewis Barber on January 19, 2014 at 5:19pm — No Comments
The Crude Oil market produced a bullish pin bar from key support today, there is absolutely no way we would trade this setup long given the recent bearish moment, it would simply be far too risky. We will wait for price to retrace back up to the daily EMAs where we will look for bearish price action sell signals to rejoin the recent bearish momentum in this market.…Continue
Added by Lewis Barber on January 9, 2014 at 10:56pm — No Comments
Weekly Commodities Report. Gold & WTIC (Crude Oil).
Over the last week both Gold & Crude Oil have been on the main focus in the markets as the Libyan oil field which had resumed production, Crude oil prices started to decline sharply on the NYMEX lowering down 1.30% on Friday. However, Strong support on Crude Oil lies around $93 USD per barrel, The Energy Information Administration also showed a decrease in inventory in…Continue
Added by Jay Khanna on January 7, 2014 at 9:16am — No Comments
The strong uptrend we've recently been experiencing on EUR/JPY has taken a bit of a breather today as the bears got the better of the market on most pairs. Traders can look for price action buy signals on the daily timeframe to rejoin the uptrend should price retest support down near 141.00.…Continue
Added by Lewis Barber on January 2, 2014 at 10:47pm — No Comments
Crude oil prices are likely to move higher in the near term with increasing demand from China in November, and with the signs of the US economy improving.
The prices are currently stable with the help of the bond buying program in the US. Cold weather is also likely to cripple production on Oil and Gas, leading to higher prices.
Technically, if you look at the charts below :-
click here to view…Continue
Added by Jay Khanna on December 9, 2013 at 1:49pm — No Comments