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AUDUSD: Weakens, Targets The 0.7550 Level

AUDUSD: With the pair continuing to weaken, it looks to target the 0.7550 level. AUDUSD is on a second day of decline following its loss of upside momentum on Wednesday. On the downside, support lies at the 0.7550 level. A cut through here will turn attention to the 0.7500 level and then the 0.7450 level where a violat

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USDJPY Triggers Recovery, Eyes Further Upside

USDJPY: With USDJPY seeing price recovery higher, it faces risk of a recapture of the 123.18 level. On the upside, resistance resides at the 123.50 level with a turn above here aiming at the 123.50 level. A break will target the 124.00 level. Further out, resistance comes in at the 124.50 level. Its daily RSI has turne

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Persistence And Perseverance In Trading

I just finished teaching a class on the importance of documenting your trading. It was called “Awareness and Reprogramming.” One of the students complained that documenting was something that they did not enjoy and that it was therefore difficult to follow-through with. Actually, most endeavors that are valuable involv

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GBPUSD: Risk Remains Higher Despite Hesitation

GBPUSD: With GBP continuing to hesitate following its recent weakness, we think a turn back higher could be building up. This view remains valid while it holds above the 1.5661 level. On the upside, resistance resides at the 1.5800 level with a break aiming at the 1.5900 level. A violation of here will aim at the 1.595

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Can You Fear Success?

Most people are familiar with the fear of failure. In fact it’s one of Larry Wilson’s Four Fatal Fears that he listed in his book “Play to Win.” In it he describes that there are four fears fatal to your personal growth and achieving your individual goals. They are fatal not to your physical well being but to your abil

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USDCAD: Recovering With Caution

USDCAD: Although is seen threatening recovery higher, as long as it trades below the 1.2421 level, we still see risk to the downside. On the upside, resistance is seen at the 1.2400 level followed by the 1.2450 level. Further out, resistance comes in at the 1.2500 level where a turn lower may occur. But if further reco

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GOLD: 1,169/62 Zone Provides Support.

GOLD: GOLD may have closed lower and remains vulnerable but while it trades above the 1,169/62 support zone, a move higher cannot be ruled out. Support comes in at the 1,170.00 level where a break will aim at the 1,160.00 level. A cut through here will open the door for move lower towards the 1,140.00 level. Below here

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EURUSD: Risk Turns Lower

EURUSD: With EUR taking back its previous week gains to close lower last week, further weakness is envisaged. However, we may see a correction higher of the mentioned declines in the new week. Resistance is seen at the 1.1250 level with a cut through here opening the door for more upside towards the 1.1300 level. Furth

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