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GBP/JPY Sustains Recent Rallies, Continues To Push on the Upside

Key Resistance Levels: 150.000, 152.000, 154.000
Key Support Levels: 146.000, 144.000, 142.000

GBP/JPY Price Long-term Trend: Bullish
The GBP/JPY is in a smooth uptrend. The uptrend has been characterized by small body candlesticks. Yesterday, the price retraced to level 151.45 low as the market commenced the resumption of the uptrend. The pair is already in the overbought region of the market. The price movement is doubtful.


GBP/JPY – Daily Chart
Daily Chart Indicators Reading:
The pair is at level 74 of the Relative Strength Index period 14. This indicates that the market has reached the overbought region. Sellers are likely to emerge in the overbought region of the market.

GBP/JPY Medium-term Trend: Bearish
On the 4-hour chart, the pair is in a downward move. On March 18 downtrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement level indicates that the Yen is likely to fall to level 1.272 Fibonacci extensions or level 151.15 and reverse.


GBP/JPY – 4 Hour Chart
4-hour Chart Indicators Reading
The GBP/JPY pair is below the 40% range of the daily stochastic. The market is in a bearish momentum. The SMAs are sloping upward indicating the previous uptrend.

General Outlook for GBP/JPY
The GBP/JPY is still rising on the upside. Yesterday, the pair retraced to resume the uptrend. The pair will continue to rise as long as the price is above the moving averages. However, the uptrend will be terminated if price breaks the trend line.


Source: https://learn2.trade

AUD/USD Retraces To Level 0.7760, Resumes Upside Momentum

Key Resistance Levels: 0.8000, 0.8100, 0.8200
Key Support Levels: 0.7700, 0.7600, 0.7500

AUD/USD Price Long-term Trend: Bullish
The AUD/USD pair is in an uptrend. The uptrend is facing resistance at level 0.8000. On February 25 uptrend; a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that the price will rise to level 2.618 Fibonacci extensions or level 0.8697 .


AUD/USD – Daily Chart
Daily Chart Indicators Reading:
The pair is at level 52 of the Relative Strength Index period 14. This indicates that the pair is now in the uptrend zone and above the centerline 50. The pair has room to rally on the upside.

AUD/USD Medium-term Trend: Bullish
On the 4-hour chart, the pair fell to level 0.7700 and resumed a fresh uptrend. On March 17 uptrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that the Yen will rise to level 1.618 Fibonacci extensions or level 0.7942.


AUD/USD – 4 Hour Chart
4-hour Chart Indicators Reading
The AUD/USD pair is currently below the 80% range of the daily stochastic. It indicates that the pair is in the bearish momentum. The SMAs are sloping upward indicating an uptrend.

General Outlook for AUD/USD
The AUD/USD pair is in an uptrend. Presently, the pair is retracing on the downside. The uptrend will resume as soon as price finds support above the 21-day SMA.


Source: https://learn2.trade

Noteworthy: Bitcoin Could Take On Physical Note Form

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Bitcoin (BTC) might leap from being a digital asset to a physical one. Noteworthy, a new US-based startup is working on creating the very first bitcoin-backed banknotes to give Bitcoin offline transaction features, which would make it more efficient and appealing for non-tech-savvy users.

Noteworthy is a joint project by the former director of the US Department of the Treasury’s Bureau of Engraving and Printing (BEP), Larry Felix, and the founding chairman of the Bitcoin Foundation Peter Vessenes.

The startup’s primary aim is to make Bitcoin a tangible entity in the real world. However, the team behind the idea is yet to explain how they intend to make this possible. Nonetheless, the combined credentials of the team lend a lot of weight to the initiative.

The company noted that:

“Each note comes equipped with a secure cryptographic microprocessor, and, utilizing all of the banknote industry’s highest security features, Noteworthy notes will look and feel like top-of-the-line currency while providing the highest grade of digital security directly embedded in each note.”

Through the use of the proposed security measures, forgery, counterfeiting, or modification of the bills would be practically impossible. Noteworthy asserted that the cryptocurrency bills would have similar quality and security with official fiat banknotes.

That said, the team did not rule out the possibility of creating bills representing other cryptocurrencies.


BTCUSD – 4-Hour Chart
Key BTC Levels to Watch — March 11
Just like we projected in a previous analysis, Bitcoin has now regained its bullish momentum following a break above the $51,400 pivot point. The benchmark cryptocurrency staged a bull run to the $57,400 area but got met with immense resistance.

That said, BTC has fallen into a correction mode and is looking to find some support (and a rebound) around the $54,000 area. However, the possibility of lower declines for Bitcoin in the coming hours is still possible. In that case, the bottom of the current correction should be at the $52,500 support.

Meanwhile, our key resistance levels are at $55,000, $56,000, and $56,700. While our key support levels are at $54,000, $52,500, and $51,400.

Total Market Capitalization: $1.67 trillion

Bitcoin Market Capitalization: $1.01 trillion

Bitcoin Dominance: 61%

Source: https://learn2.trade

Ethereum Classic Price Analysis — March 1

Ethereum Classic (ETC) traded with a mild bullish momentum in the early trading hours on Monday, as the cryptocurrency market slowly recovers from last week’s crash. The crash caused Bitcoin (BTC) and other cryptocurrencies to fall by double-digits under a few hours. At press time, ETC is trading at $10.80, up by about 3.3% on the day.

That said, the cryptocurrency market crash occurred in tandem with the entire legacy market. News reports show that Nasdaq 100 recorded its biggest slump since October last year, as US Treasury bond yields bolstered market mood.

The cryptocurrency market’s correlation with traditional financial markets and some of the largest indices, including the NASDAQ Composite and the S&P 500, is becoming increasingly glaring. Nonetheless, the cryptocurrency market took a massive beating last week, as it saw more than $300 billion get shaved off its valuation.

However, not all cryptocurrencies had a red weekend. Cardano (ADA) appeared to be unfazed by the bearish conditions surrounding the market and kept rising.

Meanwhile, the recent market correction can be construed as a healthy and necessary one, considering that the market had been on a parabolic bull run for several weeks before now. Naturally, investors begin to take out profits as markets get overleveraged, like what we just witnessed.


ETCUSD – 4-Hour Chart

Key ETC Levels to Watch — March 1

ETC is currently recovering from last week’s battering, which sent the fifty-fifth-largest cryptocurrency near the $9 area. That said, the cryptocurrency is trading below a descending trendline and has to break above this line to continue on this bullish momentum. This trendline is coinciding with the $11 psychological level, making it a crucial resistance for ETC.

Nonetheless, Ethereum Classic is currently deep in oversold conditions on our 4-hour chart, indicating that we could see a return to neutral levels (at least) on our MACD indicator in the coming days. This technical indication, coupled with the prevailing recovery mode across the crypto market, should boost the ETC in today’s session.

Meanwhile, our key resistance levels are at $11.00, $12.00, and $12.46. While our key support levels are at $10.57, $10.00, and $9.00.

Total Market Capitalization: $1.45 trillion

Ethereum Classic Market Capitalization: $1.2 billion

Ethereum Classic Dominance: 0.08%

Source: https://learn2.trade

Bitcoin SV Price Forms Triple Bottom Chart Pattern; potential Bullish Reversal Level

Bitcoin SV Price Analysis – March 01
The coin may bounce up from the support level of $171 provided the mentioned level holds and the price may increase towards the resistance levels of $185, $198, and $217. In case, the bears were able to penetrate the $171 downside, the support level of $152 and $134 may be tested.

BSV/USD Market
Key Levels:
Resistance levels: $185, $198, $217
Support levels: $171, $152, $134

BSV/USD Long-term Trend: Bearish
On the daily chart, BSV is bearish. The coin was under the bears’ pressure for more than two weeks; this led the price to decrease to the low of $171 after it breaks down the $198 and $185 price levels. The price tested the support level of $171 on February 23, it pulled back and retested the level on February 26. The support level holds the price, pulled back, and retested the level third time on 28 February.


BSV daily chart, March 01
It seems the bearish momentum is getting weak. The price is trading below the 9 periods EMA and 21 periods EMA at a distance which indicates bearish momentum. The coin may bounce up from the support level of $171 provided the mentioned level holds and the price may increase towards the resistance levels of $185, $198, and $217. In case, the bears were able to penetrate the $171 downside, the support level of $152 and $134 may be tested. The relative strength index period 14 is not displaying a specific direction, parallel at 40 levels indicates consolidation is in progress.

BSV/USD Medium-term Trend: Bearish
BSVUSD is bearish in the 4-hour chart. The price is under the bears’ control and the price decline to the bottom at the $171 support level. The price has touched the $171 support level three times leading to a triple bottom chart pattern. There is the probability that the price may reverse at the $171 support level.


BSV 4-hour chart, March 01
The price retains its trading below the 9 periods EMA and 21 periods EMA. The Relative Strength Indicator is parallel at 40 levels to indicate a ranging BSV market.

Source: https://learn2.trade

Have you invested in an extremely rare opportunity of a lifetime?

The Next “Buzz Word” Altcoins
Last month, the Bloomberg Galaxy Crypto Index was at 1414.37, following a low of 217.82 in early March. BTC had made a new high yesterday at $51,630.86. Today (February 17) and the index was at 2,295.61. That’s a huge gain for one month.

Let me put this into perspective. In late 2017, I said that cryptoassets were the biggest institution revolution since the Industrial Revolution and that they represented the investment of a lifetime. Institutions, however, were not ready or capable of participating in that revolution so they “pooh-poohed” it. The SEC decided that most altcoins were securities which precipitated a huge bear market. By the end of 2018, cryptos had undergone an 85% decline and BTC hit a low price of $3,236.76 on Dec 15, 2018. But then look what happened.
BTC was up 92.71% in 2019
It was up 305.94% in 2020
And it’s up 75.42% in less than 50 days of 2021….

What did I say in 2018? There was actually a period from October through November last year when I made over $3 million in 7 weeks. Cryptos are the investment of a lifetime.

While BTC could go up another 10 fold in the long run, I doubt that it will go much over $100,000 this year…. But the opportunity of a lifetime is not over because now the altcoins are starting to move. Here are a few examples, and this is just the movement in 2021.

BNB 289%
ETH 144%
LINK 178%
SNX 215%
AAVE 397%
CND 145%

And remember those gains are just from the 48 days of 2021….

You can purchase crypto coins here.

Update on Cryptoassets
I think that there are a number of altcoins that could go up 10 times or more during the rest of 2021. Now we might have a decline of 40% or more during the year, but it probably will be short-lived with a very quick recovery…
BTC was up 92.7% in 2019, 305.94% in 2020, and in the first six weeks of 2021, it’s up 74.22%. Let’s contrast that with the other hedge against the USD and disaster, gold. Gold was up 20.94% in 2019, up 18.32% in 2020, and it’s down 5.1% so far in 2021. The path of safety is now BTC.

Gold has about 10 times more market cap than cryptos right now (even though cryptos are now over a trillion for the 1st time). If all of the money in gold went into BTC, BTC’s price would be about $370,000…

People talk about BTC being volatile and risky. But where can you find something that has made over 1,000% in 3 of the last 11 years, over 100% in 8 of them, and had only two losing years? There is only one other place than BTC with anywhere near equal performance – other cryptoassets.
If you had bought BTC at the beginning of 2012 (well, not at the very beginning), you would have turned $1,000 into more than $7.1 million (up $4.5M last month)…

Remember these are 30-day percent gains. This is probably the easiest market possible to make a lot of money. You could, however, just as easily enter a position and immediately have a 25% drawdown – which could cause you to exit and then miss out on some nice gains. If you don’t have strong beliefs about cryptos like I do, crypto volatility will test you…

This newsletter makes no recommendations about cryptos but is a free service… I personally own positions in most of the cryptos mentioned in this newsletter.

Author: Van K. Tharp, PhD



Source: https://learn2.trade

GBP/USD Sustains Upside Momentum, Reaches the High of 1.4025

Key Resistance Levels:1.4200,1.4400,1.4600
Key Support Levels: 1.3200, 1.3000, 1.2800

GBP/USD Price Long-term Trend: Bullish
GBP/USD had been in an uptrend since September 2020. The price has been making a series of higher highs and higher lows. Today, the pair is trading at level 1.4025 at the time of writing. The RSI has indicated that price has reached an overbought region of the market. Therefore, the upward move is doubtful in the interim.


GBP/USD – Daily Chart
Daily Chart Indicators Reading:
The 21-day SMA and the 50-day SMA are sloping upward indicating the upward move. The pair has risen to level 72 of the Relative Strength Index period 14. This indicates that the Yen is in the uptrend zone and above the centerline 50.

GBP/USD Medium-term Trend: Bullish
On the 4-hour chart, the pair has been in an upward move. On February 19 uptrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The Yen is likely to rise to level 1.618 Fibonacci extensions or the high of level 1.4089.


GBP/USD – 2 Hour Chart
4-hour Chart Indicators Reading
The GBP/USD pair is currently above the 40% range of the daily stochastic. It indicates that the pair is in a bullish momentum. . The SMAs are sloping upward indicating the uptrend.

General Outlook for GBP/USD
The GBP/USD is in an uptrend. The price has been consistently rising on the upside. According to the Fibonacci tool analysis, the market will rise to level 1.618 Fibonacci retracement level.



Source: https://learn2.trade

USD/CAD Retests Level 1.2740, Resumes Downward

Key Resistance Levels: 1.4200, 1.4400, 1.4600
Key Support Levels: 1.3400, 1.3200, 1.3000

USD/CAD Price Long-term Trend: Bearish
The Loonie is on a downward move. The downtrend was a result of the rejection at 1.2850 High. The pair fell to level 1.263 and corrected upward. The upward correction also faced another rejection at 1.2750. Nonetheless, the selling pressure will resume if the price breaks below level 1.2600. However, since January, the bulls are yet to break level 1.2600.


USD/CAD – Daily Chart
Daily Chart Indicators Reading:
The 50-day and the 21-day SMAs are sloping downward indicating the downtrend. The Loonie has fallen to level 46 of the Relative Strength Index period 14. The pair is in the downtrend zone and below the centerline 50.

USD/CAD Medium-term Trend: Bullish
On the 4-hour chart, the pair is making a brief uptrend. On February 16 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. This retracement indicates that the pair will rise to level 1.272 Fibonacci extension and reverse. That is at the high of level 1.2746 the market will reverse and returned to 78.6% Fibonacci retracement level.


USD/CAD – 4 Hour Chart
4-hour Chart Indicators Reading
Presently, the SMAs are sloping southward indicating the downtrend. The Loonie is in the oversold region above the 25% range of the daily stochastic. Buyers are likely to emerge.

General Outlook for USD/CAD
The USD/CAD has resumed a downward move after retesting level 1.2750. The Fibonacci has indicated a downward movement of the pair. The price action has confirmed the Fibonacci level as price resumes downward.

Source: https://learn2.trade

Silver Price: XAGUSD Stays Optimistic Under $28.00 As Bulls Gather Traction

XAGUSD Price Analysis – February 16
Silver (XAGUSD) price continues to range within the $27.00 to $28.00 region as buyers support the prospect for a move beyond the $28.00 and on the other hand, sellers need to refresh monthly low for entries. Silver is currently trading at $27.05 per ounce, representing a 0.50% loss on the day.

Key Levels
Resistance Levels: $30.00, $28.90, $27.92
Support Levels: $26.77, $26.00, $25.00

XAGUSD Long term Trend: Ranging
XAGUSD bulls attempted to crush January 6, 2021, old barrier around the $27.95 zone but retreated to the $26.83 level. As a result, the quote’s further upside may be challenged by a psychological horizontal line at the $27.50 level. However, if the trend stays toward breaking past $28.00 marks, the monthly peak surrounding $30.00 will be the next target.

Alternatively, a downside breach of the immediate support line, currently around $26.77 level, may take silver prices towards the low level at $26.00. However, any further weakness needs to break the yearly low of $24.01 to invalidate the XAGUSD bullish run-up.

XAGUSD Short term Trend: Ranging
Silver’s price has staged a major technical pullback after finding resistance at the psychological $30.00 level. However, on the one hand, the price for XAGUSD could likely be pushed down by the MA 5 crossing the MA 13 lower in the $27.07 range towards the $26.00 range.

Meanwhile, the rate could gain support at the $26.77 horizontal level. And from the other hand, the white metal could likely gain support from the lower level near $26.00 in the event of a plunge. Thus, some upside potential could prevail in the market during subsequent sessions.

Source: https://learn2.trade

An important factor that determines your profitability (it’s not what you think)

When traders are looking for ways to become consistently profitable, they, sadly, tend to consider the wrong factors and looking for solutions in the wrong places. Yes, factors like hit rates, risk-to-reward ratios, risk control, etc. are very important to your career as a trader. Nonetheless, there is an important factor that determines your profitability, and it’s not what you think.

Know when not to trade
Yes, you need to know when to be in the markets and when to stay out of the markets. There are times when it is profitable to be in certain markets, and there are times when it is suicidal to be in such markets.
For example, it is far easier to make money in bullish crypto markets, especially when Bitcoin and most other altcoins are trending upwards protractedly. During this period, traders and investors are richly rewarded.

But when Bitcoin and other altcoins begin a bearish movement that holds out longer than what most people anticipate, both traders and investors suffer, as profitability dwindles. An apt example is what happened in 2018.

When FX markets are trending strongly, all counter-trend strategies will perform poorly. When the markets are quite choppy, trend-following strategies will fail. That is why you need to understand the kind of trading system you are using and the market type you are currently engaged in.

There is no strategy that can work in all market conditions: You either develop different strategies to deal with a bull market, consolidating markets, etc. If you cannot do this, then you need to stay out of the market which is not favorable to your trading system. An impatient trader can be sliced up in the market that threatens to plummet, but which fails to do so.

You don’t need to be in a particular market always
Some people think trading is hard, and they are somewhat correct because no-one knows what the market will do next. You may think it will go in a certain direction and you will be right. Sometimes, you may think it would go in a particular direction and you will be proven wrong.
Know when to trade and when not to trade. Your profitability is largely determined by how many losses you are able to avoid. Did you sustain some losses in the past? Think of how profitable you would be now if you had been able to avoid those losses.

Think of it: The more losses you have, the more your equity goes down. If you were able to avoid those losses, your equity would be saved from going down. Even when your hit rate is not very high, you will be able to go ahead by avoiding more and more losses.

There are many factors that determine a great football team, and one of the factors is the ability to concede very few goals. The fewer goals a team concedes, the better their chances of survival. The more goals they concede, the worse their chances of survival.

When a team is too desperate to win, they may charge and attack vigorously, while their defense becomes porous and vulnerable, and the opposing team may take advantage of that vulnerability.

You shouldn’t be too desperate to make profits, to the extent that you constantly find yourself in unfavorable market conditions and you take more sub-optimal trades based on poor setups, therefore scuttling your chances of profitability.

I have found ways to know when a particular market condition is favorable to my trading methodology and I take advantage of that. I have found ways to know when a market is no longer favorable to my trading method and I stay out of the market while looking for opportunities elsewhere.

What about you?

This piece is ended by the quote below:

“… If there was a game that mimicked trading it would be golf. A golf game is won by the person who makes the fewest catastrophic error and whose management of their internal game is superior to others. Incremental gains count.” – C. Tate

Source: https://learn2.trade

AUDUSD Upside Run Holds Steady Past Mid 0.7700 Level As Risk-On Mood Undermines USD

AUDUSD Price Analysis – February 11
After it rebound from the prior week low at 0.7563 level, the AUDUSD pair has benefited from a sustained move past the MA 5 and 13 at the 0.7700 regions. The pair’s upside run continues to hold steady past the mid 0.7700 level as the underlying bias of a risk-on mood undermines the US dollar.

Key Levels
Resistance Levels: 0.8075, 0.7980, 0.7800
Support Levels: 0.7650, 0.7557, 0.7461
AUDUSD Long term Trend: Ranging
The AUDUSD pair regained bullish traction on Thursday and reversed the prior day’s modest losses. The constructive outlook is reinforced by the bullish relative strength index on the daily charts. That said, bulls might still need to wait for some follow-through buying beyond the swing highs, around the mid 0.7700 regions, before placing new buy orders.

Above the mentioned hurdle, the AUDUSD pair seems all set to build on its recent appreciating move and aim back to reclaim the 0.7800 marks. On the[b] flip side, the 0.7650 regions might continue to act as immediate support and are closely followed by the 0.7700 marks. A convincing break below the latter might prompt some technical selling and accelerate the slide further towards the 0.7557 horizontal support.

AUDUSD Short term Trend: Ranging[/b]
As observed on the lower time frame, following the 0.7650 minor support intact, a sustained surge is anticipated in AUDUSD for 0.7800 resistance level. The continuous breach there may continue the total uptrend from 0.5506 level.

Meanwhile, the next near term goal is a 61.8% forecast of 0.7000 to 0.7800 levels from 0.7557 at 0.8075 levels. On the flip side, the breach of 0.7650 minor support level may delay the bullish scenario and extend the correction from 0.7800 level.

Source: https://learn2.trade

Gold Price Analysis — January 27

No Commentson Gold Price Analysis — January 27
Gold (XAU/USD) maintained its bearish tone through the early European session on Wednesday and was last spotted trading around the $1845 area. The bearish momentum was solely sponsored by a goodish uptick in the US dollar, which tends to undermine demand for the dollar-denominated commodity.

The greenback saw a fresh influx of demand amid doubts over the timing and size of the newly proposed US stimulus bill. That said, the prevalent cautious mood surrounding the equity markets has capped further declines for the precious metal in the meantime.

Market mood is currently being suppressed by the growing worries over an economic fallout from the COVID-19 pandemic and the escalating US-China tensions in the South China Sea.

Meanwhile, the lower risk appetite bolstered a softer tone around the US Treasury bond yields, which extended additional support to the non-yielding metal. Also, market participants appear to be avoiding placing aggressive bets ahead of the FOMC monetary policy decision scheduled for release later today. This event, coupled with the release of US Durable Goods Orders data and developments surrounding the coronavirus pandemic, will be looked upon for market clues today.

This makes it advisable to wait for a sustained move to the downside before placing aggressive bets.


XAUUSD – Hourly Chart
Gold (XAU) Value Forecast — January 27

XAU/USD Major Bias: Sideways

Supply Levels: $1860, $1875, and $1890

Demand Levels: $1838, $1827, and $1818

Gold has traded on a directionless bias over the past few days, following several failed attempts to reclaim dominance above the $1875 pivot area. However, the safe-haven asset has also fought against a sustained descent below the $1838 support, putting it in a consolidated range.

Depending on the outcome of the FOMC meeting later today, gold could finally breach the $1838 support and head towards lower support levels.


Source: https://learn2.trade

USD/CAD Is in an Oversold Region as Buyers Are Likely to Emerge

Key Resistance Levels: 1.4200, 1.4400, 1.4600
Key Support Levels: 1.3400, 1.3200, 1.3000

USD/CAD Price Long-term Trend: Bearish
The Loonie is likely to continue its downward move. The recent upward move has been repelled by the 21-day SMA. Presently, the pair is falling and has fallen to the low of 1.2690. The loonie may reach the low of 1.2620.


USD/CAD – Daily Chart
Daily Chart Indicators Reading:
The 50-day and the 21-day SMAs are sloping downward indicating the downtrend. The Loonie has fallen to level 43 of the Relative Strength Index period 14. It is below the centerline 50. A further downward move is likely.

USD/CAD Medium-term Trend: Bearish
On the 4-hour chart, the pair fell as the uptrend reaches the high of 1.2799. In the last 48 hours, the downward move has persisted. The overall trend has been bearish. The pair may resume upward if the price falls and reaches the low of 1.2620.


USD/CAD – 4 Hour Chart
4-hour Chart Indicators Reading
Presently, the SMAs are sloping northward indicating the uptrend. The Loonie has fallen below the 20% range of the daily stochastic. It is in a bearish momentum. The pair is still in the oversold region of the market. Buyers are likely to emerge.

General Outlook for USD/CAD
The USD/CAD is likely to continue its downward move as price faces rejection at the recent high. The price sometimes fluctuates as the market continues its downward move. In the previous price action, the pair fell and rebounded above 1.2650 on January 14.

Source: https://learn2.trade

GBPJPY Attempts Upside Advance Beyond 142.33 Level on UK’s Vaccine Rollout Optimism

GBPJPY Price Analysis – January 20

GBPJPY’s upside march attempts to advance beyond the 142.33 level with a strong impulse to test the higher barrier at
142.71 level. The optimism about the UK’s vaccine campaign and lower cases is strengthening the case for stability in Pounds Sterling.

Key Levels
Resistance Levels: 147.95, 144.95, 142.71
Support Levels: 140.31, 137.00, 134.40
GBPJPY Long term Trend: Bullish
The GBPJPY pair has already rebounded from the weekly low of 140.35 to 142.33 levels as of today’s session and may lift further. Nonetheless, the horizontal resistance level currently around 142.26, followed by the 142.71 thresholds, challenges the GBPJPY bulls. However, bears are less likely to enter unless witnessing a clear breach beneath the moving average 13 around 141.00 level.

In the larger context, the increase from the 123.99 level is seen as an advancing phase of the sideway range trend from the 122.75 (low) level. As long as the 147.95 resistance level holds, an eventual downside breakout stays in consideration. Nevertheless, the eventual breach of 147.95 may increase the likelihood of long term bullish reversal.

GBPJPY Short term Trend: Bullish
GBPJPY edged higher to 142.25 level last week but upside traction has been very unconvincing. Meanwhile, a sustained increase is mildly in support as long as the 140.31 support level stays intact. The present recovery from 133.04 level may aim for a test on 142.71 high level.

On the downside, however, the breach of 138.00 level may argue that the trend from 142.71 level is starting another falling phase. Intraday bias may be altered back to the downside for 134.40 support level and beneath.

Source: https://learn2.trade

XRPUSD Is Ranging Within $0.28 and $0.21 Levels, Awaiting a Breakout

XRP/USD Market January 06
An increase in the bears’ pressure may penetrate the $0.21 level; the price may decrease further to $0.17 and $0.10. In case the support level of $0.21 holds, the price may reverse and the resistance levels of $0.28, $0.39, and $0.49 may be tested.

Key Levels:
Resistance levels: $0.28, $0.39, $0.49

Support levels: $0.21, $0.17, $0.10

XRP/USD Long-term Trend: Ranging
XRPUSD is on the ranging mode in the daily chart. The coin is range-bound within the resistance level of $0.28 and the support level of $0.21. XRPUSD started the ranging movement on December 30. The bears made an attempt to break down the support level of $0.21 failed due to low bearish momentum. Today, the bears try to penetrate the resistance level of $0.28 but the level holds and the price could not break it up. Ranging movement will continue until there is a breakout.


XRPUSD Daily chart, January 06
XRPUSD is struggling to breakout at the two key levels but the levels hold the price. An increase in the bears’ pressure may penetrate the $0.21 level; the price may decrease further to $0.17 and $0.10. In case the support level of $0.21 holds, the price may reverse and the resistance levels of $0.28, $0.39, and $0.49 may be tested. However, the price retains its trading below 9 periods EMA and the 21 periods EMA, the former is below the later. The relative strength index period 14 is at 25 levels bending up to indicate a buy signal.

XRP/USD Medium-term Trend: Ranging
On the medium-term outlook, XRPUSD remains in the ranging mode. The bears’ momentum and the bulls’ momentum are at equilibrium within the $0.28 and $0.21 levels. The support level of $0.21 is resisting the bears. The bears lose their momentum and the bulls’ pressure is equally weak. The price results in consolidation within $0.28 and $0.21 price levels.


XRPUSD 4 hour chart, January 06
The fast-moving average is interlocked with the slow-moving average. The price is hovering over the 9 periods EMA and 21 periods EMA which indicates that consolidation is ongoing. However, the relative strength index period 14 is bending up at 60 levels to indicate a buy signal.


Source: https://learn2.trade

Litecoin (LTC) Resumes Upward Move as Bulls Buy the Dips

Key Highlights
Litecoin slumps to $121 low and resumes upward
The altcoin will further decline to $73 if the support at $120 cracks

Litecoin (LTC) Current Statistics
The current price: $144.63
Market Capitalization: $9,613,048,370
Trading Volume: $12,189,426,086
Major supply zones: $120, $140, $160
Major demand zones: $90, $70, $50

Litecoin (LTC) Price Analysis January 12, 2021
Litecoin has fallen to $120 low as the coin resumed its upward move. The crypto has fallen into the previous range bound zone of $120 and $140. LTC will retest the $180 resistance if the bulls clear the $140 and $170 minor resistance levels. On January 10, Litecoin was repelled as the bulls attempt to break the $180 resistance level. Meanwhile, the crypto has resumed upside momentum as the market reaches the high of $146.


LTC/USD – Daily Chart
Litecoin (LTC) Technical Indicators Reading
After the breakdown, the LTC price broke above the SMAs which suggested an upward movement of the coin. The crypto is at level 51 of the Relative Strength Index period 14. It indicates that there is a balance between supply and demand.


LTC/USD – 4 Hour Chart

Conclusion
Litecoin has fallen to $120 low as the current support holds. This has propelled the price to rise on the upside. However, if the $120 support fails to hold, the Fibonacci tool price prediction will hold. On January 11 downtrend; a retraced candle body tested the 61.8%Fibonacci retracement level. The retracement indicates that the crypto will reach level 1.618 Fibonacci extensions or the high of $67.40.

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Gold Price Analysis — January 6

Gold (XAU/USD) traded on a sideways pattern in the early European session on Tuesday, as the commodity struggled to capitalize on its bullish momentum from the previous two sessions.

It appears that the market has begun pricing in the possibility of a Democratic win in the crucial US Senate runoff elections in Georgia. The final election results will not be out until the end of today, albeit with the increasing likelihood of a Democrat-controlled Senate.

A Democrat-controlled senate will give President Joe Biden easier access to his preferred economic policies, including additional—and possibly larger—stimulus measures and infrastructure projects. This possibility has caused the US dollar (DXY) to come under immense pressure, thereby extending further support to the dollar-denominated commodity. Also, the prospects of stricter regulations for large tech companies—and the industry as a whole—caused the Nasdaq futures to slide by nearly 2%, which bolstered gold even further.

Meanwhile, the 10-year US Treasury yield rose beyond 1% for the first time since March on the expectations of larger government borrowing. This rise is probably the only factor capping gains for the non-yielding metal. Also, investors are hesitant to place any aggressive bets ahead of the FOMC minutes scheduled for later today.

In the meantime, the greenback’s price dynamics and the broader market risk sentiment will provide trading opportunities for the precious metal.


XAUUSD – 4-Hour Chart
Gold (XAU) Value Forecast — January 6

XAU/USD Major Bias: Bearish

Supply Levels: $1950, $1965, and $1980

Demand Levels: $1920, $1907, and $1900

At press time, gold appears to be stalling near the top of our ascending channel as bullish momentum dwindles. That said, we expect a sharp price correction in the near-term to the lower-$1900 area.

Our 4-hour MACD indicator pronounces the impending correction even better, as the commodity retreats from overbought territories.

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Silver Price: XAGUSD in a Run Towards $27.50 As the Dollar Becomes Weaker


XAGUSD Price Analysis – January 6

Spot silver (XAGUSD) is looking to break the $27.50 level as the white metal breaks out of its recent high of $26.77 during Monday’s early European session. Overall, the market remains patchy, but the dollar as a whole is weakening as markets wait to see what happens with US fiscal stimulus and Georgia’s run-off on January 5.

Key Levels
Resistance Levels: $30.00, $28.90, $27.50
Support Levels: $26.00, $24.50, $23.50

XAGUSD Long term Trend: Bullish
XAGUSD price has convincingly broken to the upside of its range and the main resistance level to watch out for is the $27.50 that has capped its upside since 15th September. To the downside, the previous top of the old December range at around $24.86 level ought to offer immediate support, in case of an unexpected decline.

Alternately, if the $27.50 level gives way then silver prices could be looking towards posting further gains in the medium to long term. Price action has been broadly consolidating near the $26.00 levels over the past few sessions. If it does break above, a gradual move towards the mid-September highs above the $27.50 level will be likely.

XAGUSD Short term Trend: Bullish
As seen on the 4-hour chart, silver appears to be launching toward a major technical barrier at the $27.50 level. In the event, the barrier holds intact XAGUSD is likely to gain support from 4 hours moving an average of 13 near the $26.77 level and return to extend gains against the US Dollar in the short term.

A possible upside target is the upside range at $28.90 and $30.00 levels, in the meantime, it is unlikely that bears could prevail in the market. That said, a sustained break below will be seen as the first signs of bullish exhaustion and turn the pair vulnerable to fall further towards challenging the key $24.50 psychological mark.

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Annual Forecast for GBPUSD (2021): After Plunge to Historic Lows GBPUSD to Further Recover


GBPUSD hit an all-time low of 1.1409 in early March 2020 in response to the coronavirus crisis. Although the pair hit a 35-year low, the pair rebounded and continued to rally amid Brexit hopes, reaching a new 2020 high of 1.3554. The risk remains heightened as long as there is hope for Brexit.

Key Levels
Resistance Levels: 1.4345, 1.4000, 1.3624
Support Levels: 1.3134, 1.2675, 1.1958
GBPUSD Monthly Chart: Ranging
GBPUSD rallied from March lows at 1.1409 to prove its resilience. Monthly technical data favors further recovery as price bounced off its moving average of 5 while the RSI consolidates towards 60.

Moving average 13 acts as a reliable support in the event of a decline, both below the current level, and in the event of a bullish expansion. The risk remains biased upward as long as the price remains above 1.3000. Confirmation of the fall in GBPUSD will be a breakdown of the support area and the closing price below 1.3000.
GBPUSD Weekly Chart: Ranging
GBPUSD rose from 1.2675 last week to hit 1.3624. But since a temporary top has formed there, the initial bias is neutral initially this week. On the other hand, a break of 1.3624 will target the 61.8% forecast of 1.1409 to 1.3482 from 1.2675 to 1.4345 next. In such a scenario, the short-term trend remains bullish as long as support at 1.3134 is held, in case of a deeper pullback.

A decisive breakout should also occur on sustained trading above the 5 and 13 moving averages. This should confirm the mid-term bottom at 1.1409. The trend can then be reversed to bullish up to the resistance level of 1.4345 and above. However, the 1.3514 deviations could keep the medium-term bearish sentiment for another decline below 1.1409 in the next phase.

Conclusion
GBPUSD may end the trading week outside the 1.3624 zones. The pair continues to move within the framework of growth and the formation of an upward recovery pattern. Moving averages indicate a bullish trend. t the moment, we should expect an attempt to grow and test the resistance area near the level of 1.4000.


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Annual Forecast for EURUSD (2021): Anticipated Price Surge to 1.2555 Level Stays Stronger


Euro Dollar Exchange Rate – EURUSD is expected to trade at 1.22 and higher in 2021 by the end of this quarter. After COVID-19 disrupted financial markets and the global economy in 2020, the US dollar as a whole has weakened. Participants in the European foreign exchange market hope to see a return to economic growth by mid-2021.

Key Levels
Resistance Levels: 1.4940, 1.3993, 1.2554
Support Levels: 1.1602, 1.0635, 1.0340
EURUSD Monthly Chart: Ranging
EURUSD has maintained its bearish trend since it touched the barrier at 1.2554. Since then, the pair has traded lower and the pair reached a multi-year low at 1.0635. After recovering, the pair gained enough momentum to confirm a bullish breakout.

The next logical target is at 1.2554, and additional gains beyond that level would signal a long-term bullish continuation. If the bulls manage to push the pair over the barrier, the next in line will be the 1.2750 price zone, as the pair has several monthly lows around it.
EURUSD Weekly Chart: Bullish
The uptrend of EURUSD has reached the level of 1.2272. The further rally should be considered to 61.8% of the 1.0635 forecasts by 1.2011 from 1.1602 to 1.2452 further. On the other hand, a break of 1.2058 support is needed to mark a short-term peak. From a technical point of view, the pair has so far managed to defend the support on the weekly chart, which is now in the 1.2175-70 region.

Starting in 2021, the gain from 1.0635 is seen as the third phase of the trend from 1.0339 (low). Further rally can be seen towards cluster resistance at 1.2555, mostly in early 2021 (38.2% retracement from 1.6039 to 1.0339 at 1.2516). This may remain the preferred scenario as long as the 1.1602 support remains.

Conclusion
EURUSD is recovering, but it could still be a corrective rally towards 1.3000. The idea is to see limited upside potential in 2021, however, the near-term situation supports the outlook for an extension of recent appreciation. Meanwhile, sentiment also continues to be fueled by expectations of a deal to boost the U.S. economy and the availability of a coronavirus vaccine.

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Gold Price Analysis — December 16

Gold (XAU/USD) inched lower in the early European session on Monday and has recorded a fresh daily low of around $1825. The renewed selling pressure got sponsored by the prevailing upbeat market mood as a result of the blooming optimism over the rollout of COVID-19 vaccines by Pfizer (NYSE: PFE).

Investors’ risk mood got further bolstered by the news that the UK and the European Union have agreed to extend the post-Brexit trade talks, as both parties attempt to reach a compromise deal.

The risk-on market mood got highlighted by the leg up in the equity markets and a positive bounce in the US Treasury bond yield, which naturally undermines demand for the non-yielding metal. Furthermore, hopes for additional stimulus measures, and the prevailing bearish pressure surrounding the US dollar (DXY) failed to woo gold bulls or extend any support to the dollar-denominated commodity.

The greenback is currently languishing near a 30-month low amid fears of economic fallout from the imposition of stricter Coronavirus restrictions across several states in the US. Meanwhile, it is becoming more likely that the proposed bipartisan $908 billion COVID-19 stimulus package could be split in half to get approval by Republicans.

Moving on, traders will remain cautious around placing any aggressive bets on gold as markets anticipate the two-day FOMC monetary policy meeting, which commences tomorrow. That said, it is advisable to wait for a sustained drop before placing any trades.


XAUUSD – Hourly Chart

Gold (XAU) Value Forecast — December 16

XAU/USD Major Bias: Sideways

Supply Levels: $1850, $1865, and $1876

Demand Levels: $1823, $1815, and $1800

Gold is currently trading within a consolidation range between $1850 and $1825. A sustained break above or below this range would determine what bias the XAU/USD will likely trade on in the coming days.

However, it is very likely to see a break towards the downside, given the fundamental factors surrounding gold. That said, a sustained break below the $1800 psychological level remains unlikely at the moment.

Source: https://learn2.trade

Silver Price: Bulls Return Past $24.00 Level on XAGUSD Amid Dollar Weakness

XAGUSD Price Analysis – December 15
Silver (XAGUSD) price registers technical buying early in the European session while bulls return past the $24.00 level. The white metal is up ahead in trend amid continued dollar weakness on Tuesday as a result of an improved risk appetite.

Key Levels
Resistance Levels: $27.50, $26.00, $24.50
Support Levels: $23.50, $22.83, $21.89

XAGUSD Long term Trend: Ranging
Silver (XAGUSD) moving average 13 which currently sits as support at $23.82 level has been like a solid base to the price action over the past few days, with the moving average 5 at $24.10 acting as solid resistance.

The price of XAG continues to trade well within know levels to the upside, there is decent resistance in the $24.50 region, while to the downside, the bottom of the recent range comes into play just around the $23.50 level. At present, XAGUSD is up and the bulls may attack further north is of the $24.50 level.

XAGUSD Short term Trend: Ranging
A bout of technical buying on the rebound of a short-term downtrend around the ascending trendline support at the $21.89 level from Nov 30 has continued to sustain spot silver prices in the short term frame to reclaim past the $24.00 level. Nevertheless looking at the white metal over a medium time horizon, silver still trades well within recent ranges.

Silver (XAG) is now attempting an upside breakout today and a breach of $24.50 minor resistance may usher in price to the $25.00 threshold. There is no follow-through buying yet. But sustained trading beyond the $24.00 mark should confirm that a rebound from $21.89 has been completed at the $24.86 level before another advance.


Source: https://learn2.trade

Are there the best and the worst months to trade?

The first time I set my eyes on a Meta Trader platform, I doubted I would be able to master its use, since the figures and features I saw seemed daunting to me.

When I even heard about candlesticks, I didn’t know what it meant. Stupefied, I wondered whether I’d need to light some candles before I would be able to trade. Did this have to do with the environment?

That was the year 2007.

I got used to the markets and the Meta Trader, and I fell in love with them. Yes, I may be considered a pro now; but I was once a noob.

I’ve had much experience and I’ve seen the good, the bad, and the ugly in the markets. I stay in the markets days in days out, learning many things.

One important thing I learned is that there are some months of the year in which trading is easier and there are some months in which trading can be difficult. Just as the ‘sell in May and go away’ idea, yes some observations confirm repetitive patterns in the markets, and the patterns are valid.

Best and worst months?
I’ve observed that, in the months of January, February, March, and April, the markets tend to move seriously and predictably. Reversals are huge and sustained, as they form new trends. Trend continuations are more pronounced. This is also true of the months of October, November, and December. Trend-following strategies usually work well around this period.

In the months of May, June, July, August, and September, false breakouts are never a curiosity and sustained trending movements are rather rare. During these months, the markets are difficult to predict, and most traders to get suboptimal results. Mean-reversion strategies tend to work around this period.

Although there are exceptions, as this doesn’t mean there can’t be large movements anytime between May and September each year. Large movements do exist, and they often come as surprises. You can see them in historical data.

Generally, I find trading easier from October to April; I find trading difficult from May to September. What about you?

At times, this also has to do with the kind of trading system one is using.

Source: https://learn2.trade

EURUSD Upside Run Halts Under the Barrier at 1.2150 Level Suggesting Deeper Pullbacks

EURUSD Price Analysis – December 9
The major European currency adds to prior session corrective downside and takes EURUSD to fresh lows in the sub-1.2100 area. EURUSD appears to be fading after its upside run halts under barrier 1.2150 level. The pair is off its highs could extend its downward correction.

Key Levels
Resistance Levels: 1.2350, 1.2200, 1.2150
Support Levels: 1.2040, 1.1920, 1.1800

EURUSD Long term Trend: Bullish
The upside traction in EURUSD eased in the proximity of the 1.2200 resistance level in prior sessions. At the moment, the pair is losing 0.12% at the 1.2110 level and confronts the next support at 1.2040 level seconded by 1.2011 level and finally 1.1920 level.

On the other hand, a breakout of 1.2150 level would target 1.2177 level (high Dec 4) en route to 1.2200 resistance level. The alternative scenario sees the loss of the 1.20 zone as an initial bearish signal, which would be boosted on a breach beneath last week’s low at the 1.1922 level.

EURUSD Short term Trend: Ranging
The intraday bias in EURUSD stays neutral for some range trading beneath the 1.2177 temporary high level. Meanwhile, the downside of the retreat should be contained by the 1.2011 support level to bring another increase.

On the upside, breach of 1.2177 level may aim for 61.8% forecast of 1.0635 to 1.2011 levels from 1.1602 at 1.2200 level next. The pair is currently signaling a short-term downside correction towards 1.2040 levels. Any more losses could lead the pair towards the 1.2011 support zone.

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Germany 30 (DE30EUR) Is in a Downward Move, May Fall to Level 13153.70

Key Resistance Zones: 13600, 14000, 14400
Key Support Zones: 11200, 10800, 10400

Germany 30 (DE30EUR) Long-term Trend: Bullish
The index is an upward move but it is facing resistance at level 13200. It must have reached bullish exhaustion as it faces rejection. On November 10, a retraced candle body tested the 88.6% Fibonacci retracement. This indicates that the index will rise to level 1.1129 and perhaps reversed.


DE30EUR – Daily Chart
Daily Chart Indicators Reading:
Presently, the SMAs are sloping upward indicating the uptrend. The index is at level 64 of the Relative Strength Index period 14. This indicates that it is in the uptrend zone and above the centerline 50.

Germany 30 (DE30EUR) Medium-term Trend: Bullish
On the 4- hour chart, the index is in a downward move. On November 30 downtrend, a retraced candle body tested the 61.8% Fibonacci retracement level. This implies that the index will fall and reach level 1.618 Fibonacci extension.


DE30EUR – 2 Hour Chart
4-hour Chart Indicators Reading
The market is below the 80% range of the daily stochastic. It indicates that the index is in a bearish momentum. Meanwhile, the 50-day SMA and the 21-day SMA are sloping upward indicating the uptrend.


General Outlook for Germany 30 (DE30EUR)
DE30EUR is likely to take a downward movement. The index has been trading in the overbought region. Sellers may emerge to push prices down. However, in a trending market, the overbought condition may not hold. That is the pair will continue to rise.

Source: https://learn2.trade