DailyForex
DailyForex
DailyForex
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DailyForex
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Merlin
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We provide valuable educational articles and market insights to traders.

Bitcoin Forecast: Looking Very Pressured

Bitcoin markets fell hard yet again during the trading session on Thursday, dropping 10% during the day. At this point, it certainly looks like we are going to test the $30,000 level yet again, an area that I think if we break down below will more than likely send this market much lower. At this poi

EUR/USD Forecast: Trying to Break Higher Again

The Euro rallied a bit during the trading session on Thursday as it looks like we are going to continue to see a certain amount of upward mobility, but choppiness of course will be a major problem as well. Looking at this chart, we have bounced a bit from the 50 day EMA which is a technical recovery

USD/CAD Forecast: USD Firming Against CAD

The US dollar has found a little bit of support near the 1.26 level against the Canadian dollar during the trading session on Thursday, as oil markets have cooled off a bit. Furthermore, the US dollar is a bit oversold and a lot of what has been driving the value of the US dollar lower has been the

AUD/USD Forecast: Giving Up Early Gains

The Australian dollar initially tried to rally during the trading session on Thursday but gave back the gains as we approach the crucial 0.78 level. Above there, it could be considered a decent breakout, and you can make an argument for a bullish flag. However, the price action during the trading se

GBP/USD Forecast: Overall Bullish Attitude

The British pound has broken above the 1.37 level during the trading session on Thursday as it looks like we are trying to continue to go higher. At this point, the 1.3750 level is an area that has been important more than once, and if we can break above there it opens up the possibility of the mark

Gold Forecast: Struggling to Continue Gains

Gold markets pulled back just a bit during the trading session on Thursday but still looks somewhat bullish and it certainly looks as if it is trying to build some type of base. This is all based upon stimulus of course, and the idea that central banks around the world are going to continue to flood

S&P 500 Forecast: Closes at All-time High

The S&P 500 continues to see plenty of upward pressure yet again, as we are closing just above the 3850 level. Ultimately, this is a market that is starting to run out of momentum for the short term, but obviously there are plenty of buyers out there waiting to get involved on some type of dip.

WTI Crude Oil Forecast: Looking Sluggish During Trading

The West Texas Intermediate Crude Oil market has looked very sluggish throughout the trading session on Thursday, as it appears that we are starting to run into a significant amount of exhaustion. This makes quite a bit of sense considering that the stimulus package in the United States may end up b

NASDAQ 100 Forecast: Looking for the Next Handout

The NASDAQ 100 has rallied significantly during the trading session on Thursday again, as we continue to see a lot of bullish pressure in a market that is looking for the next handout. The “stay-at-home trade” is still starting to pick up a significant amount of momentum, as it looks like the “new n

FTSE 100 Forecast: Building Basing Pattern

The 5100 rallied slightly during the trading session on Thursday, as we have found buyers near the 6650 handle. This is a market that was very much like the British pound itself, trying to break above significant resistance at higher levels. That being said, a lot of what is going on right now is to

GBP/USD Forecast: Pound Continues to Show Signs of Strength

The British pound rallied a bit during the trading session on Tuesday, as we had broken above the top of the hammer from the previous session. That is a bullish sign, but we are very tight at the moment and perhaps even struggling to build a significant amount of momentum. If we can break above the

AUD/USD Forecast: Aussie Continues to Look Soft

The Australian dollar initially tried to rally during the trading session on Tuesday but then gave back the gains to form a shooting star-shaped candlestick. If we break down below the candlestick from the previous session, it is very likely that the Aussie will continue to go a bit lower, perhaps r

Gold Forecast: Market Hangs at the 200-Day EMA

The gold market broke down significantly during the trading session on Tuesday to reach down towards the $1800 level. The $1800 level is a large, round, psychologically significant area that has been important more than once. That being the case, we have bounced from the $1800 level to form a nice-l

EUR/USD Forecast: Euro Bounces from 50-Day EMA

The euro rallied significantly during the trading session on Tuesday as we bounced from the 50-day EMA. Looking at this chart, the market is likely to continue going back and forth, as we have sold off quite drastically but still have an oversold US dollar in general. As long as that is going to be

BTC/USD Forecast: Bitcoin Continues to Look Very Tight

Bitcoin markets initially tried to rally during the trading session on Tuesday but have struggled to hang on to gains. When you look at the chart, you can see that it is forming a bit of a triangle, and it looks like we are trying to build up enough momentum to go in one direction or the other. What

Pull-up Update