ChangGoh's Posts - Page 2

Shorting the GBP/USD in New Traders Apr 13, 2017 at 06:51

The GBP/USD pair is on a four-day winning spree, now extending its bullish run towards 1.2600 levels amid renewed broad USD weakness, as the treasury yields continue to tumble in response to fading Trump trade.GBP/USD Levels to consider The immediate resistance for the pair could be seen at 1.2595 (Classic R2/ Fib R3) followed by 1.2615 (Mar 27 high) and 1.2700 (zero figure). To the downside, supports are aligned at 1.2500 (psychological level), 1.2481/77 (20 & 5-DMA) and 1.2464/50 (10-DMA/psychological level).TREND INDEX:BearishAVG SELL PRICE:1.2448AVG BUY PRICE:1.2377To know t...

EUR/USD in New Traders Apr 13, 2017 at 06:49

Trump Bump is associated with broad-based US dollar strength and rally in the equities, base metals.But what we are seeing now is a “different kind of Trump Bump” – Trump’s bearish comments on the US dollar and the dovish talk about the interest rate bumped up EUR/USD/led to broad-based losses in the US dollar.The 10-year treasury yield fell to a five-month low of 2.22%, thus weighing over the US dollar. The Trump-led sell-off in the US Dollar saw the EUR/USD close well above the 50-DMA level of 1.0656.Currently, EUR/USD is trading at 1.0669, up +0.04%, having posted a ...

EUR/USD in New Traders Apr 11, 2017 at 07:38

Having failed once again to survive above 1.06 handle, the EUR/USD pair entered a phase of consolidation just below the last, as the US dollar stalled its renewed upside to waver in a tight range just shy of 101 handle.The pair is trading at 1.0580, down -0.15%, having posted a daily high at 1.0602 and low at 1.0579.

AUD/JPY IS RECOVERING in New Traders Apr 11, 2017 at 07:37

The AUD/JPY cross reverses a dip to daily lows and now takes on the recovery above 83 handle, amid a renewed bid-wave caught by the Aussie, as markets continue to digest strong business confidence data out of Australia.However, the bulls are seen finding it difficult to hold above 83 levels, as the yen remains in demand against its American counterpart amid a slight risk-off tone seen in the markets. Losses on the Japanese indices coupled with weaker treasury yields collaborate to the bearish momentum seen behind USD/JPY.The spot now looks forward to the sentiment on the European equities for ...

Shorting the GBP/USD in New Traders Apr 10, 2017 at 06:58

The Sterling has started the week on a string footing, now pushing GBP/USD to the area of daily highs near 1.2390.Currently, GBP/USD is trading at 1.2390, up +0.15%, having posted a daily high at 1.2393 and low at 1.2351.Brexit negotiations could weigh on cable.To know the stop loss and target price of the forex pairs visit http://www.mmfsolutions.sg

USD/JPY SEES DOWNTURN IN ASIA in New Traders Apr 10, 2017 at 06:58

The Dollar-Yen pair remains well bid in Asia with treasury yields showing signs of life following Friday’s surprise drop in the US unemployment rate.The spot was last seen trading around Friday’s high of 111.36. The 10-year treasury yield recovered from the low of 2.269% to 2.382% on Friday and was last seen trading around 2.388%.DOUBLE BOTTOM REVERSAL ON CHARTSThe daily chart now shows a double bottom reversal formation with neckline resistance at 112.20, courtesy of Friday’s rebound from 110.09 levels.USD/JPY TECHNICAL LEVELSA break above 111.60 would expose 112.00 and 112....

EUR/USD in New Traders Apr 07, 2017 at 11:28

EUR/USD pair traded choppy in Asia, however, remained confined within the familiar 60-pips trading range seen so far this week, with the upside capped near 1.07 handle and downside cushioned around 1.0630 regions.Currently, EUR/USD is trading at 1.0650, down +0.06%, having posted a daily high at 1.0660 and low at 1.0638.It is recommended to buy.AVG SELL PRICE:1.0734AVG BUY PRICE:1.0666To know more about stop loss and target price visit http://www.mmfsolutions.sg

USD/JPY SEES DOWNTURN IN ASIA in New Traders Apr 05, 2017 at 11:30

The JPY bulls are back in action amid a turnaround in risk sentiment, as the Asian stocks turned negative in sync with the treasury yields, knocking-off USD/JPY to fresh session lows at 110.54, where it now wavers.Currently, USD/JPY is trading at 110.69, down -0.05% having posted a daily high at 110.91 and low at 110.54.

EUR/USD in New Traders Apr 04, 2017 at 10:18

Currently, EUR/USD is trading at 1.0652, down -0.17%, having posted a daily high at 1.0675 and low at 1.0651.It is recommended to buy.Avg Buy Price is 1.0670.

EUR/GBP in New Traders Apr 03, 2017 at 07:27

The three-day losing streak in the EUR/GBP appears to have come to a halt this Monday morning in Asia. The cross was last seen trading around 0.8513 handle. The UK manufacturing number due later today is expected to show the pace of expansion in the activity ticked higher to 55.1 in March from the Feb figure of 54.6. Currently, EUR/GBP is trading at 0.85075, up + 0.26%, having posted a daily high at 0.85214 and low at 0.84897.EUR/GBP Technical Levels:A break above 0.8555 (100-DMA) would expose 0.8582 (50-DMA + 5-DMA) and 0.86 (zero figure). On the other hand, a breakdown of support at 0.8485 (...

USD/CAD APRIL 2017 PREDICTION in New Traders Apr 02, 2017 at 07:32

The month of March passed off; the month of April brings with it a new set of challenges for traders as politics continue to remain at the center stage, while economics and monetary policy will likely take a back seat.The USD/CAD pair fell during several weeks in March, but quite frankly I believe there is more than enough support to continue pushing this market higher. You can see that we have been in a longer-term grind to the upside, and we are approaching the 1.35 handle. If we can break above the 1.35 handle, and more importantly the 1.36 handle, the market will be free to go much higher,...

GBP/USD in New Traders Mar 31, 2017 at 10:41

Currently, GBP/USD is trading at 1.2451, down -0.14%, having posted a daily high at 1.2508 and low at 1.2459.

GBP/USD in New Traders Mar 29, 2017 at 06:39

We have been seeing that the shorts have been building more and more in the GBPUSD pair for the past week or so, in anticipation of a large fall on March 29 but at the same time, we have been seeing the price move higher and higher towards 1.26. This presented a dangerous combination and we saw a small effect of that yesterday as a combination of dollar strength and fears surrounding the Brexit process pushed the pair from the highs of its range around 1.26 towards 1.2400 and it trades just above that as of this writing.Currently, GBP/USD is trading at 1.2389, down - 0.47% on the day, having p...

EUR/USD in New Traders Mar 28, 2017 at 10:15

After climbing to the vicinity of 1.0900 the figure at the beginning of the week, EUR/USD is now looking to consolidate around 1.0860.Trend:BullishAvg Sell Price:1.0762Avg Buy Price:1.0719Recommendation:Buy

USD/JPY SEES DOWNTURN IN ASIA in New Traders Mar 27, 2017 at 06:50

The USD/JPY pair is meandering near fresh four-month lows, with downside opening up for a test of 200-DMA support at 109.20, as the bears remain in control amid risk-aversion at full steam.Risk-off persists at the start of a brand new week, as treasury yields and equities are sold-off. USD/JPY Technical levels to watch:The major finds immediate resistance at 110.68 (daily pivot). A break above the last, the major could test 110.87/111 (5-DMA/ round figure) and 111.31 (classic R2/ Fib R3) beyond the last. While to the downside, the immediate support is seen at 110.05 (classic S2/ Fib S3) next a...

EUR/USD in New Traders Mar 23, 2017 at 15:30

The EURUSD bulls continue to fight a battle in the 1.0800 region as they try and reach 1.0850 which would give confidence to the other buyers and would help the bulls in pushing the pair even higher towards 1.10. We had been mentioning in our forecasts over the last few days that EURUSD reaching 1.0800 region was a given but what is going to be a challenge for the bulls is that they have to push through the 1.0800-0830 region and ensure that they dont lose the momentum and fall back into range.

EURUSD	1.07762	GBPUSD	1.25176	AUDUSD	0.66079
USDJPY	155.725	USDCAD	1.36872	USDCHF	0.90655

Posts by ChangGoh