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GBPJPY Bounces Higher, Threatens Further Bull Pressure

GBPJPY: GBPJPY turned higher on Wednesday taking back some its losses and opening the door for more strength. On the downside, support comes in at the 183.00 level where a violation will aim at the 182.00 level. A break below here will target the 181.00 level followed by the 180.00 level. Its daily RSI is bullish and pointing higher suggesting further strength. On

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How To Control Your “Rep” and Stick To Your Trading Plan

Has this ever happened to you? You’ve just ended your trading session by closing your last trade. You then look over your 6 or 7 trades to determine how well you did; but what you see sends shivers down your spine. There in front of you is trade after trade where you have violated rule after rule with loss after loss and the

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GOLD Halts Recovery, Vulnerable Below 1,147/50 Zone

GOLD: GOLD looks to has capped its recovery strength at 1,147.87 level following the formation of a rejection candle on Tuesday. This price action suggests bear pressure could be developing. On the downside, support comes in at the 1,120.00 level where a break will aim at the 1,110.00 level. A cut through here will open the door for move lower towards the 1,100.00

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EURJPY: Broader Risk Points To The Downside

EURJPY: The pair resumed its short term weakness on Tuesday leaving risk of further weakness on the cards. This view remains valid while the cross trades and holds below the 136.60 level. Support comes in at the 134.50 level where a break will aim at the 134.00 level. A turn below here will target the 133.50 level with a breach turning focus to

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EURGBP Closes In On Key Resistance At 0.7421 Level

EURGBP: With the cross extending its bullish offensive on Tuesday, it faces the risk of a move further higher towards its Aug 2015 high at the 0.7421 level. On the upside, resistance lies at the 0.7450 level where a violation if seen will turn risk towards the 0.7500 level. Further out, the 0.7550 level comes in as the next upside target followed by

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USDJPY Slumps On Further Bear Pressure

USDJPY: With the pair experiencing a second day of weakness on Tuesday, risk of a move further lower is expected. On the downside, support comes in at the 119.00 level where a break will target the 118.50 level. Below here if seen will aim at the 118.00 level followed by the 117.50 level. Its daily RSI is bearish and pointing lower suggesting further

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CRUDE OIL Sees Further Bullishness Offensive

CRUDE OIL: Having the commodity extended its bullish offensive on Monday, further strength is envisaged. Resistance is located at the 49.00 level where a break will expose the 50.00 level. A break below here will aim at the 51.00 level and then the 52.00 level. Above here if seen will open the door for a run at the 53.00 level. Its daily RSI

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USDCAD Loses Upside Momentum, Eyes Bear Pressure

USDCAD: With USDCAD seen taking back its intra day gains during Monday trading session, risk of more weakness is now envisaged. Resistance resides at the 1.3212 level where a break will target the 1.3250 level. Further out, resistance comes in at the 1.3300 level where a turn lower may occur. But if further recovery is triggered resistance comes in at the 1.3350 level.

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