DailyForex
DailyForex
DailyForex
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DailyForex
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Merlin
FXStreet
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Move-in date 27 Jan 2020 Joined
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We provide valuable educational articles and market insights to traders.

AUD/USD Forex Signal: Narrowing Triangle Above 0.7642

Last Tuesday’s AUD/USD signals were not triggered, as there was no bearish price action when the price first reached the resistance level I had identified at 0.7726. Today’s AUD/USD Signals Risk 0.75%. Trades must be taken prior to 5pm Tokyo time Friday. Short Trade Idea Short entry following a bear

EUR/USD Technical Analysis: Awaiting US Inflation Figures

After the EUR/USD pair had fallen to the 1.2132 support level, its lowest level in a month, the pair corrected to the 1.2210 level at the beginning of Wednesday's trading. This move comes ahead of the announcement of US inflation figures by European Central Bank Governor Lagarde, who will also make

GBP/USD Forex Signal: Bearish Price Channel

Last Tuesday’s GBP/USD signals were not triggered, as the bullish price action at the support level which was reached did not happen until after the end of the London session. Today’s GBP/USD Signals Risk 0.75%. Trades may only be entered before 5pm London time today. Short Trade Ideas Short entry f

Gold Technical Analysis: Waiting for the USD to Weaken Again

For the third day in a row, gold is trying to rebound higher after its price collapse at the end of last week's trading. Gold's rise came amid strong expectations of more stimulus for the global economy in the face of the pandemic, leading the price to stabilize around the $1863 level. In addition t

USD/MXN: Bears Arise Again, Important Support Being Targeted

After proving that bullish momentum can be produced within the USD/MXN the past week, the Forex pair has seen bears emerge again and show that they still can dominate the trading landscape. The USD/MXN is near important support levels early this morning and current values will test the perceptions o

ETH/USD: Turbulent Trading Conditions Ahead for Ethereum

Ethereum has produced turbulent trading conditions the past few days after achieving record high values. A wave of selling has taken place within ETH/USD, and a spike lower from the highs of the 10th of January until the 11th essentially wiped out 25% of the cryptocurrency's value. However, this mov

USD/INR: Bearish Momentum has Reignited and Testing Support

Market conditions have been fast for the USD/INR in early trading this morning. The Forex pair has reestablished is bearish trend and is hovering above key support levels. Traders may be skeptical that the USD/INR can recapture all of its lower values within only a day-and-a-half of downward momentu

USD/SGD: Strong Reversal Lower Could Ignite Other Bears

Traders who have not looked at their screens yet today may be surprised to see that the USD/SGD has reversed lower since late yesterday, and has essentially wiped out a lot of the short-term bullish momentum that sprung forward last week. The USD/SGD is near rather intriguing support and, if the For

BTC/USD Forecast: Bitcoin Continues to Look Vulnerable

Bitcoin fluctuated during the session on Tuesday as we continue to dance around the $35,000 level. The cryptocurrency has been very volatile and very dangerous, regardless of how bullish it has been, and the massive selloff that we saw was going to happen sooner or later. A 20% drop at one point was

WTI Crude Oil Forecast: Market Drives Towards $55

The West Texas Intermediate crude oil market rallied a bit during the trading session on Tuesday as we continue to see the “reflation trade” come into play. This should favor crude oil, at least for the short term, despite the fact that demand is less than stellar. One of the main drivers is the ide

DAX Forecast: Index Turning Around Right at Technical Level

The DAX Index initially fell during trading on Tuesday as we crashed into the 13,825 level. This is an area that has been important in the past, as it was significant resistance and now should offer support. Luckily, the market has done exactly that and bounced from that area. This is a market that

GBP/USD Technical Analysis: COVID-19 Fears May Halt Gains

The Bank of England's comments about adopting negative interest rates helped push the GBP/USD pair to the periphery of the 1.3700 resistance level, settling around 1.3630 as of this writing. Concerns about interest rates, compounded with economic lockdowns in Britain, were pressure factors on the po

USD/JPY Technical Analysis: Caution Ahead of Fed Statements

The USD/JPY pair regained its bearish momentum at the beginning of Thursday's trading, falling from the 104.40 resistance level to stabilize around the 103.60 support level. Despite this, the US dollar strengthened its position as the best-performing major currency in the week after December's infla

Gold Technical Analysis: Anticipating Bold Moves

A strong US dollar stopped gold from correcting higher and breaking the $1863 resistance level during yesterday's trading session, instead stabilizing around the $1844 level. The price of the yellow metal was boosted by concerns about growth amid the continued rise in coronavirus cases. Silver futur

WTI Crude Oil Forecast: Market Starting to Pull Back

The West Texas Intermediate crude oil market initially rallied during the trading session, but turned around to form a shooting star after the inventory numbers came out mixed. After all, there was a serious lack of demand out there, just as we have been seeing for some time. However, there is also

Pull-up Update