Forex Central

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January 1st to 5th 2018
Crude Oil – Crude Oil uptrend continues, looking to buy pullbacks

EURUSD – Euro/dollar starts off new year on a strong note
January 1st to 5th 2018

AUDUSD – Aussie/dollar sees resurgence of buyers
January 1st to 5th 2018

January 1st to 5th 2018
Gold – Gold recovers, looking to push higher

Crude Oil – Bulls remain in control of Crude Oil
December 18th to 22nd 2017

Gold – Gold contained below key resistance zone
December 18th to 22nd 2017
Last week, we discussed selling Gold on a pull back towards 1260.00 resistance – notice that price just touched that level on Friday and seemed to fail, forming a small bearish pin bar. If price cannot rally up past 1260.00 early this week we could see a large sell-off unfold this week. Traders can continue to look for shorts around 1260.00 – 1280.00 for now.

USDJPY – Dollar/yen has potential for swing higher from support

EURUSD – Euro/dollar falls but still above key support zone
December 18th to 22nd 2017
The EURUSD basically went nowhere last week as it lost slight ground with price floundering near recent lows. We have been bullish on this pair in recent weeks but currently everything depends on major support between 1.1670 – 1.1550; price needs to hold that region if bulls are to take prices higher again. We are going to wait on the ‘sidelines’ this week and will look for a price action signal within that major support zone to get long.

AUDUSD – Aussie/dollar downtrend continues
December 11th to 15th 2017

Oil – Crude Oil remains buoyant, looking to buy on a signal
December 11th to 15th 2017

Gold – Gold market breaks below key support, price could fall further, December 11th to 15th 2017

EURUSD – Euro/dollar pulls back to key support zone
December 11th to 15th 2017

AUDUSD – Aussie/dollar consolidating just above support
04-08 12 2017

GBPUSD – Sterling/dollar surges higher from pin bar signal
December 4th to 8th 2017

Oil – Crude Oil uptrend continues, looking to buy near support
December 4th to 8th 2017

EURUSD – Euro/dollar poised to push higher again
December 4th to 8th 2017

S&P500 – S&P500 U.S. Stock Index hits new highs, again.
Nov. 27th to Dec. 1st 2017
The S&P500 hit new all-time highs again last week as this uptrend appears to have no end in sight. However, we wouldn’t commit to fresh long entries near these current extended levels. So, our view is to wait for a decent pull back before buying, ideally down to near 2541.00 key support which was the lows of two recent pin bar signals in this market. Traders can look to get long on a pull back this week ideally on a price action entry signal down near or just above 2541.00.

OIL – Crude Oil continues to surge higher

Crude Oil moved higher last week as this very strong uptrend continues to roll-on. Price has surged significantly higher in recent weeks, breaking above key long-term resistance levels easily. As mentioned in last week’s commentary, we were watching for a pull back entry within the uptrend to get long and we continue with that approach for this week. Traders should watch support between 55.00 and 57.00 and look to buy near that area this week should price weaken and form a 1 hour, 4 hour or daily chart price action buy signal within or near that support zone.

GOLD – Gold looking primed for potential break higher
Nov. 27th to Dec. 1st 2017
Gold has found a base of support down near 1260.00 in recent weeks and has begun pushing higher from that level following the fakey signal from a couple weeks ago. Price has potential to track higher in the coming weeks, towards the old recent highs up near 1350.00 as long as it continues to hold firmly above 1260.00. Notice the inside bar pattern that formed last week, there’s potential for a break higher from this setup, so traders should take note of that this week.

GBPUSD – Sterling/dollar moves up to challenge resistance
Nov. 27th to Dec. 1st 2017

The GBPUSD has remained firm following its recent bounce higher from the key support level down at 1.3040 a couple weeks ago. We have discussed the potential for higher prices in recent weeks if that 1.3040 held, so we are remaining bullish as a result of the recent rally up from it. Price is currently testing 1.3340 near-term resistance and is looking bullish. We are looking for pull backs this week to get long whilst price is above 1.3040, traders can watch for 1 hour, 4 hour or daily chart price action signals to get long this week on any weakness above that level.

EURUSD – Euro/dollar bulls take control,
Nov. 27th to Dec. 1st 2017
The EURUSD surged higher last week, reconnecting above 1.1875 overhead resistance (which is now support). As we discussed last week, we have changed our bias to bullish after price moved back above 1.1664 key support and we can see that since then, prices have soared significantly higher, taking out 1.1875 as previously mentioned. We will be looking to buy the pull backs whilst price holds above that 1.1664 level and we will be watching the zone between 1.1875 – 1.1664 this week to get long in-line with the overall uptrend.

S&P500 – Uptrend continues in S&P500 Index

The S&P500 ended last week with a slight loss, however, it did recover nicely on Thursday from earlier in the week. The uptrend is still clearly intact and our approach hasn’t changed from recent commentaries. We are still looking to buy this market on a pull back and a price action signal, ideally. We are watching 2540.00 as the near-term support level to buy at or above on any weakness this week with a 1 hour, 4 hour or daily chart buy signal.

GOLD – Gold moves higher from fakey buy signal

In recent weeks, we have been focusing on 1260.00 support in Gold, as a ‘line in the sand’ for buyers. That level has held firm in recent weeks as we can see below, with price beginning to make a swing higher last week. Notice the fakey signal on the chart below, in last week as a strong buying opportunity. For those who missed that entry, we see potential for Gold to continue tracking higher, potentially up near recent highs at 1350.0 area. As long as price is above 1260.00 support we can continue to look to buy the dips in this market

OIL – Crude Oil moving higher again after pull back

Crude Oil moved higher last Friday after a modest pull back earlier in the week. Price has surged significantly higher in recent weeks, breaking above key long-term resistance levels easily. As mentioned in last week’s commentary, we were watching for a pull back within the uptrend to get long and we continue with that approach for this week. Traders should watch support between 55.00 and 54.00 and look to buy near that area this week should price weaken and form a 1 hour, 4 hour or daily chart price action buy signal within or near that support zone.

November 20th to 24th 2017
GBPUSD – Sterling/dollar moving up after bounce from support

In our recent GBPUSD commentaries, we have maintained that price could bounce as long as it stayed above 1.3040 key support. Notice, price began drifting higher last week following a bounce up from that level recently. This pair is currently range-bound between that support at 1.3040 and resistance up near 1.3340 and we could look to buy on any pull backs above support, targeting 1.3340 resistance.

EURUSD – Euro/dollar moves back up above key level

Last week, the EURUSD reconnected above 1.1664, which was resistance but now flips back to support following the strong close above it. We remain bullish above that level this week, a view that is in-line with the long-term weekly chart uptrend. Traders can watch for buying opportunities on weakness above 1.1664, targeting recent highs near 1.1880. A break above 1.1880 would likely set off a larger swing higher in the EURUSD.

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Crude Oil – Crude Oil continues to push higher, November 6th to 10th 2017

The Crude Oil market continued moving higher last week, We are still bullish on Crude and we will be watching for pull backs this week to get long. Traders can watch support at 52.65 area as well as 51.00 for price action buy signals to get long and trade in-line with the uptrend.

GBPUSD – Sterling/dollar remains above key support level, November 6th to 10th 2017

The GBPUSD moved lower last week as price continued to consolidate and move sideways just above 1.3025 key support level. We remain mildly bullish whilst price is above that level but any further decline and subsequent close under 1.3025 would flip this chart into a more bearish tone. Traders can consider long entries on an obvious 4 hour or daily chart buy signal near 1.3025, but keep in mind that a close under that level could lead to a decline into key support further down near 1.2780.

BPJPY – Sterling/yen remains bullish above key support zone, November 6th to 10th 2017

We remain bullish on the GBPJPY as the yen pairs are looking mildly bullish across the board right now. This view is in-line with the recent uptrend this market has been in and the pin bar buy signal from October 12th . This pin bar trade has paid off well for those who held it, and from here, we see further upside possible whilst support at 147.00 holds; that is a confluent level with the low of the pin bar we just mentioned and is also an event area. Traders can look to buy this week on pull backs / weakness ideally near or within the 147.70 – 147.00 support zone.

AUDUSD – Aussie/dollar stays contained under key resistance,November 6th to 10th 2017

The AUDUSD remains contained under resistance levels following the recent bearish swing we’ve seen in this market. Failure of support at 0.7750 turned this chart bearish and whilst price is contained under the swing high at 0.7890 we are looking to be sellers. Traders can look to sell on strength whilst below 0.7890, ideally on a 4-hour or daily chart price action signal. Keep an eye on 0.7750 near-term resistance this week as well; we can look to sell at or near that level on a signal.

The EURUSD consolidated just below near-term resistance at 1.1660 last week as bears kept price subdued following the strong sell-off that took place the previous week. we have taken a bearish stance on this market and we are looking to sell whilst under 1.1860 swing high. Traders can look to sell on strength this week, ideally on a 4 hour or daily chart price action signal near 1.1660 or further up whilst below 1.1860.

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