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Thread: Youcefstyles's - Trading Journal

  1. #4781 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Journal update:

    Hello, I hope everyone is okay. I see many members waiting for the weekly bonus because many of them have got a margin call, and the weekly bonus hasn't updated yet. Last time, we got our bonus on Wednesday, so I think you should wait. The bonus can get updated today. I noticed that all of my latest posts have been rejected. Last week, all of my posts got approved and it was written with the same style and have been checked with the same tool, I think they are approving and rejecting our posts randomly, That's it. Many members are messaging me every day about emerging multi posts in one post and I already answered that I just try to write short posts and it gets merged with the previous post. Actually, this issue becomes annoying sometimes because the same posts will be updated multiple times. So, please don't pm again with the same question. Thank you!

    Gold analysis:



    Well, despite the weakness of the US dollar yesterday, this hasn't affected the gold prices, especially because of the Easter holidays, in addition to the weak demand for gold as a safe haven with the slow pace of the outbreak of the Coronavirus in the United States of America. On the other hand, gold prices are still under pressure due to the rise in the yield on US bonds, as the 10-year US Treasury bond yield exceeded 1.77% during last weeks trading, which strengthened the US dollars against other major currencies during the past period and supports a drop in prices. On the H4 time frame, It seems that the price has almost completed the A wave, soon it should go down again to 1715-1705 level before heading up again to 1750-1760 levels with C wave to complete the Y wave.


    Crude oil analysis:




    After the Suez Canal issue, last week got finally solved, Oil started moving down again due to OPEC agreeing to monthly production increases from May to July, and they said they would bring back 350k barrels per day of supplies in May, another 350k barrel in June and maybe more in the next months. This is so negative for the oil prices, we should expect more downside soon. On the H4 time frame, the price didn't retest the level I have mentioned before at 63.12 level, I think the price will go up again to retest this level soon before heading down again to 45-40 levels.




    ---------- Post added at 10:56 PM ---------- Previous post was at 11:19 AM ----------

    Trades update:



    Today, I made one of my biggest trading mistakes this year. As you know, I have been holding my buy trades on the EURUSD for 2 weeks. Finally, the price started moving today above 1.1820 level, I was planning to hold these trades until 1.1870 level which was my target. But, I saw another waves analysis posted by another trader on another website, this trader is professional by the way and sometimes I confirm my entry-level using his analysis. He was expecting a reversal and his analysis changed my view about this pair. So, I closed my buy trades with loss and opened sell trades but the price continued moving up, I added more sell trades and now my total opened lot size is 4 lot size with 5 trades. As you can see on the screenshot, I have 133$ floating losses right now and I could get a margin call easily this time due to the high risk. I could manage some good profits if my buy trades still running right now. I think I should stay away from other market analysis websites, it can affect your trading performance, my advice to you guys is don't follow other people's analyses, you will only burn your trading account. I won't do that again. Let's see if this pair gonna start moving down or I will get a margin call.




    ---------- Post added 07-04-2021 at 07:43 AM ---------- Previous post was 06-04-2021 at 10:56 PM ----------

    FOMC Meeting Minutes and the USD:




    I'm expecting a lot of volatility today especially during the US session. Let's start with the most important event today which is the FOMC meeting minutes. The market will be focusing on this event to decide the next direction of the USD. After the positive labor market data last week, Jerrome Powell stated that more job reports are needed, such as the one we got in March. The Fed was still far from its policy targets because 8.5 million are still unemployed. I don't know what's gonna happen today but the FOMC statement is considered as an accurate report of the last committee meetings, it provides important indications of the economic and financial conditions and of course, the interest rate decision. This should give us a clear view about the future of the monetary policy of the US Federal Reserve by knowing the details of the last meeting and the views of the Feds members regarding the interest decision and the US economic conditions, this has a strong impact on the dollar index. What do you think about the next move on the USD index?

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  2. #4782 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    EURUSD waves analysis:



    You can see that the price turned up around 1.1705 level and wave "C" got extended. That's why my trades are running with big floating losses right now. The price has retested the broken daily support level at 1.1910 level and started moving down. The price made the small "a" wave yesterday and probably now completed the "b" wave. It should go down again to 1.1820 level soon with c wave. All of these 3 waves make the major "A" wave. We should expect some correction tomorrow to the 1.1860 level before heading down next week to the 1.1800-1.1780 level to complete the major "C" wave as you can see on the chart above. I have an alternative scenario but, I'm not expecting it right now.


    Bonus update:



    The weekly bonus got updated and credited on Tuesday. I wasn't expecting such amount of bonus because most of my posts were still in review. This time I got 91$ for week 13. This is very encouraging but I saw many members complaining about their bonus because they didn't get any bonus. I don't know how the bonus and quality systems are working. I hope admins will clarify it soon because I got 4 posts rejected and one post approved even that it was written in the same format. They should give use a standard grammar checking tool to avoids getting posts rejection in the future. Many thanks to MT5 and Instaforex, and I hope we will get our 14-week bonus on Friday!


    Trades update:



    I'm stuck with the new selling trades on the EURUSD. My losses exceeded 300$ yesterday. I feel that it will end with getting a margin call because I'm taking high-risk trades to recover my previous losses. I have to recover 93$ losses now and these trades are not helping me to do so. This is what you get when you follow other's signals. You should always make your own trading decisions. I will have to close these trades with a small loss again.




    ---------- Post added 09-04-2021 at 12:52 AM ---------- Previous post was 08-04-2021 at 01:45 PM ----------

    EURUSD alternative scenanrio :



    I hate to say that. But now I have to work with the alternative scenario on this pair. Once the price made a higher high today. I had to cancel my main scenario. The pair has turned bullish for the short term and we should expect more upside for the next week. But not for the short term. The price needs to make some corrections for sure. As you can see on the H1 time frame, I'm expecting another bullish wave to 1.1940 level which should be the highest level for tomorrow. The pair should complete the 5th wave around this level. Then, the downside should start. The price should make 3 three correction waves with a 5-3-5 structure or maybe a 3-3-3 structure. The final target for this correction should be the 50% Fibonacci level which represents 1.1820 level.

    Trading signal:

    Sell limit at 1.1940 level.
    Take profits at 1.1820 level.
    Stop-loss level at 1.2000 level.


    ---------- Post added at 12:07 PM ---------- Previous post was at 12:52 AM ----------

    Posts rejection issue:

    Well, I see most of the MT5 forum members are facing daily posts rejection. I don't know which language does this editors team speaks? They just reject your posts if you use a comma, it's one of the basic English punctuation marks. They just want you to use a point instead of a comma. This is unbelievable! Today I received a notification that my previous posts got approved, but after a few minutes, I got another notification that the same post got rejected! check this out:



    Here are the previous post's details using the Grammarly tool, there is no mistake according to the tool. So, tell me again, which English have you learned? Rejecting our posts for a point or comma makes no sense.



    USD index analysis:



    During this week, the US dollar was pressured by the decline of US bond yields as well as economic data, following up with the US unemployment benefits data. Fed Governor Jerome Powell described the US economic recovery as "irregular and slow". This is what we can see on the chart, the USD index started moving down around 93.40 level and yesterday reached 91.97 level which is the lowest level during the last two weeks. I was already expecting this reversal, you can check my previous analysis on the USD index. In the short term, the US dollar is moving up due to market optimism about the Corona vaccine and the decrease in the number of infections in the United States. I think the downside is over now as the downside trend is already broken. I'm expecting more upside movements to 92.50 level today. Next week, I'm expecting another upward movement to 92.80 level before start moving down again.

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  3. #4783 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Market waves analysis:

    EURUSD:



    The pair has made strong bullish movements last week. For now, the price has almost completed the 4th wave. The price can go down and make a new low around 1.1860 level before start moving up again to the final target at 1.1940 level and this should be the final wave which means the completion of the A wave. Then, I expect 3 correction waves to retest the support levels 1.1830 and 1.1780.


    USDCAD:



    The price completed one bullish wave in the last few weeks at 1.2625 level and then started a deep correction with the WXY pattern. On the smaller time frame, we can see another bullish wave which started at 1.2500 level and ended at 1.2630 level then the price made another 3 correction waves. I think the pair will start moving up again and the target for the medium term is 1.28 level.

    USDCHF:



    A strong bearish movement on the H1 time frame. The correction is expected to start tomorrow during the US session. The price has already competed 4 waves and it still needs to go down not completed the major A wave. Once the major A wave is completed, we should expect 3 corrective waves and I think the price will retest the broken support at 0.9350 level. This pair moves in the opposite direction of the EURUSD so the lower the EURUSD will go, the higher this pair can reach.


    Bonus update:



    The weekly bonus has been updated on Friday. I got 24$ this time but I can see that many members didn't receive their weekly bonus again. I don't know if they will receive it this week or not but I hope the administration will fix this issue soon. The reason behind this issue is obviously the post's rejection.

    Trades update:



    It's been 5 days now, I'm still holding these trades on the EURUSD and I hope this time I can make some profits. On Friday, I added another selling trade with 0.5 lot size so the total opened lot size now is 4.5 lot size and I'm having 230$ as floating losses which makes it so risky for now but I'm planning to close some of these trades if the price move down. This will depend on the pair movements too.



    ---------- Post added at 07:15 AM ---------- Previous post was at 12:06 AM ----------

    Market waves analysis:

    AUDUSD:



    The price has made a strong rejection around 0.7533 level and ended making 5 waves which means one impulse wave and I will consider it as wave A because this pair still need to go down in the near future. I expect the price to move up this week and complete the C wave which has already started as you can see on the chart. I'm expecting 3 more waves with 0.7705 as a target this week before moving down again to 0.7630 level with another 3 corrective waves.


    GBPUSD:



    The cable looks strongly bearish due to the Pound's weakness. The price may move on another 5 waves and it has already completed the first bearish wave. I expect some correction to 1.3800 level before heading down again to 1.36 and 1.3500 level and this gonna be the C wave. Once the price completed this wave, we should see another bullish trend to 1.42 level.





    ---------- Post added at 11:28 AM ---------- Previous post was at 07:15 AM ----------

    USD index:



    It's clear that the Index has completed one correction wave on the daily time frame and I was expecting this movement during the previous month. The price has made a 3 correction wave ABC on the daily time frame and in the H4 time frame, we can see clearly that the price start moving down and made 5 waves. The price reached 261.2% Fibonacci level which is usually the reversal level for the impulse wave. After the 5th wave, the index succeeded to make one bullish impulse wave from 91.97 to 92.38 level and now is making a correction which should be the B wave. I'm waiting for another bullish wave to 92.50 level as you can see on the chart and it's gonna be the A wave.

    Gold:



    As we can see on the H1 time frame, a strong bullish trend from 1677 to 1758 level and then a strong bearish wave that's why I think the major bearish wave has started today and the ABC correction wave has ended. Now I expect some correction to 1748-1750 levels before start moving down and break the 1700 support level. Breaking this level on the daily time frame will indicate more downside to the previous low 1677. I'm expecting an impulse bearish wave with 5 minor waves and the USD index will push it lower.
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  4. #4784 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Market waves analysis:

    EURGBP:




    This pair is definitely bullish because it has moved +220 pips in few days and this means a lot for this pair. According to Elliot waves, I think this pair is moving on an impulse wave but with an "ABC" pattern in the minor waves and it's rare to see that in the market. I could be wrong on this but I think the upside movement for the short term has been completed and now we gonna see some downside to the 0.8620 level tomorrow during the London session. I think the price will make the next bearish wave "c" then start another correction wave "X" before start moving down again to 0.8580 level. You should note that this pair still bullish for the medium term so when the price completed the "WXY" wave pattern it will go up again to 0.87 and 0.88 level but for the short term, most of the Euro pairs are overbought.

    GBPJPY:



    You can notice that most of the market waves are corrective, for the JPY pairs it looks difficult to define the wave type especially with the strong downside on the GBPJPY which looks like an impulse wave, and if this can be true but I think the price is moving on correction wave too and we gonna have a good selling opportunity soon. The "A" wave has completed 149.55 level and the price made a strong rejection and retested 150.91 level which was the wave "a" then started moving down again. I believe that we gonna see a higher high tomorrow around 151.50-152 level before start falling again and the bearish targets should be around 147-145 levels.


    EURJPY:



    As I said before, it's hard to define the JPY's pairs waves. The EURJPY has been on strong upward movements and the price has already reached 423.6 Fibonacci level from the first wave and got rejected from that level. The price now is moving n the final bullish wave but I think the price needs to make a higher high before turning down so I'm expecting another 4 minor waves before start moving down. I don't suggest you selling this pair now.


    ---------- Post added at 06:03 AM ---------- Previous post was at 12:46 AM ----------

    Ramadan Kareem to all the Muslim members here! Today's data:We have a few low-impact data today on the AUD, GBP, EUR, and the USD. But at the same time, the markets are waiting for the US CPI data which is the most important data for the day. As you know, markets are afraid of inflation in the US and the CPI is the main indicator that can give you a clear view about consumer prices and inflation in general. The markets are expecting positive data this time and this is logical after the US stimulus package and the economic recovery. A little increase in inflation is positive and it will support the USD but if the prices rose more than 2% then investors will start selling the US dollar and it will go lower. I'm expecting positive data today and a strong side on the USD index to 92.60 level. What do you think?


    ---------- Post added 14-04-2021 at 02:11 AM ---------- Previous post was 13-04-2021 at 06:03 AM ----------

    Market analysis:


    EURUSD update:



    The price finally moved up and the resistance level at 1.1920 level got broken and that's what I was expecting in my previous post. The pair is trading around 1.1952 level right now and I think the 5th wave is almost completed because the price has made 3 waves with an "ABC" pattern but at the same time it can move with another 2 waves before start moving down. I think the correction wave will start today during the London session. We can see on the daily time frame that 1.1950 level is a very strong resistance level. The correction can reach 1.1785 level which is around 38.2% Fibonacci level but it's too early to talk about the correction's target.

    GBPUSD update:



    I think the price has completed two correction waves A and B and now it's moving up to complete the "C" wave. The "C" wave should drag the price higher than the 1.3773 level which is the previous high and then the price will start moving down again. The USD's strength should drag this pair down before the weekend and for the short term, I believe that the target still breaking the previous low at 1.3670 level.

    Trades update:



    Day by day and the losses keep increasing on my account because of my selling trades on the EURUSD. My losses have exceeded 480$ now and getting a margin call soon becomes possible. I didn't get any margin call on this account for more than 6 months and it was a great journey.


    US CPI data result:



    The CPI data result was very positive today. The index recorded a growth of about 0.6% during the month of March which is more than market expectations of 0.5%. The core value of the consumer price index came in better than expected in March with the index recording a growth of 0.3%. The US dollar fell clearly due to this data but I don't know why because this is against the logic. This data should support the US dollar.
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  5. #4785 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Market analysis:

    USD index:



    The last bearish movement looks scary on the dollar index because the index didn't make enough correction before moving down and recently I noticed that the price is moving on small correction waves with an "ABC" pattern. The index has almost completed the first correction wave "w" around 91.47 level and started moving up. I'm expecting another 3 correction waves with an "ABC" pattern to the 50% Fibonacci around 92.50 level before turning down again to the final target around 90.47 level.

    EURUSD:



    This pair has the opposite view obviously and I was expecting the reversal to start around 1.1960 level on my previous post but the price continued moving up and reached 1.1992 level today and I hope this was the top for now. The 5th wave comes with a triangle pattern and finally the price made a strong reversal signal on the smaller time frames so I think selling the EURUSD now is a very good idea. I'm expecting a deep correction now to the main target around 1.1820-1.1800 levels but the price can make a reversal before reaching these levels.

    AUDUSD and NZDUSD:



    I'm expecting the same movements on both the NZDUSD and AUDUSD. The NZDUSD is moving on the major B wave which has three minors correction waves. I think the AUDSUD will make some corrections to 0.7680-0.7620 levels before moving up again and the NZDUSD should follow it too by moving to 0.7060 level first then go up again. Both the AUDUSD and NZDUSD should go down after the correction gets completed.



    GBPUSD:



    It looks like the reverse has started yesterday and wave 1 and 2 has been completed so now I think the price will fall with a hummer bearish candle to 1.3680 level during the US session and I already mentioned before that the "C" wave can reach 1.35 and 1.364 levels next week.


    Trades update:



    My total floating losses have reached +600$ today unfortunately and I think there is a high chance that I will get a margin call today during the US data. I won't blame the market or anyone else but myself because I used a high lot size this time due to overconfidence. Emotional trading is the only thing that gonna makes you lose in this market so try to control your emotions.

    US Retail Sales data:



    We have many US data today during the US session but I think the most important data is the retail sales and core retail sales. The markets are expecting an increase of 5.8 anAd 5.1 percent so if the result came as expected then it would positively affect the US dollar and that's what I'm expecting today.


    ---------- Post added at 02:57 PM ---------- Previous post was at 12:10 PM ----------

    Update:


    Again, my post got rejected although it was written with the same style f my previous approved posts, I don't know how the editors are evaluating our posts. Maybe it depends on their mood, they will approve or reject your posts randomly, hours of analysis and writing will be wasted, just because they don't like it. I think this issue will continue, they need to give us a standard post template so we can make a similar post and avoid getting rejections.


    US data result:




    As expected, the US data came positive and I'm sure it will support the dollar for the medium term. It already supported it for the short term because we can see clearly on the chart that the USD index moved up and the XXXUSD pairs were falling down. But there is a possibility that the index g down again below 91.47 level. Let's wait for the London session tomorrow!
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  6. #4786 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Market analysis:

    USDCHF:



    Finally, the price made a bullish reversal around 0.9185 level and reached 0.9244 level. Again, the pair started moving down during the Frankfurt session to 0.9178 level. This move is totally a bearish sign for the short term. I think the price will be moving on an impulse wave pattern soon during the US session, and it should 0.9300 level as a target for the "a" wave, then going down a little bit before moving up again to 0.9350 level as the final target. The medium-term target still 0.9045 support level. The price is trading near 423.6 Fibonacci level, and it will make a reversal definitely.

    Gold:



    The negative news related to the Corona vaccine globally and in the US specify. Today, Gold prices rose due to the rise in US inflation higher than expected and weak US interest levels.
    The upside movements continue on the gold, and as I already mentioned in my gold analysis a few weeks ago, the price has almost completed the WXY pattern. On the smaller time frames, we can see that the price made the a and b wave. Now, the price is moving on the c wave. In order to complete the c wave, the price needs to complete the 5th wave, and I think it will get complete around 1780-1785 level, so get ready to sell it from that level.

    Bonus update:



    I was surprised to see the weekly bonus updated in our profiles. I got 50$ this week, and it's still a good amount for me, because as you know that I'm stuck with huge losses on my trading account, and I need more margin level. Again, many members didn't receive their weekly bonuses, and the reason still unknown, but I think the main reason behind this issue is the "Claim post" option.


    ---------- Post added 17-04-2021 at 12:20 AM ---------- Previous post was 16-04-2021 at 01:02 PM ----------

    Trades update:



    Here I am after the market closing. I'm still holding these trades that I'm sure will ends with a margin call next week. It's so boring to watch these losses increase anyway, so getting a stop out is better than waiting for a margin call every day. It's been ten days since I opened these trades on the EURUSD, and after ten days, 609$ floating loss. Every time I think the price will start going down, the price makes a correction wave. So, technically it means more highs are coming soon, which increases the possibility of getting a margin call. The USD was so weak this week, and the Index reached the lowest level for this month, but I believe this part of the correction for the medium term and the Index will start moving up again. Let's see!
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  7. #4787 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Market analysis:


    Bitcoin:



    The trading week didn't start yet, but we can see a market crash on most cryptocurrencies. Bitcoin has lost over 10% till now, and this seems like a clear reversal sign. The previous high was 64800$ levels, and the price is trading right now at 54700$.
    According to Elliot waves analysis, The price was moving on a diagonal pattern, and that pattern has completed at the previous high. For now, the price has made strong downside movements. I'm expecting some correction soon to 58-60K levels before falling down again to the 40K$ level.

    Weekly chart:



    I don't know, but this seems like the 4th wave on the weekly time frame. The price might make a deep correction to 30k-20k. But I think the most logical target for this wave will be the 41K level because the price has never retested that support level. After reaching that level, the price will go up again with another bullish wave to 65-70K before the next downside wave start.


    USDCAD:



    We can see a lot of range movements on the H1 time frame. The price was moving on very complex correction waves due to the weakness of both USD and CAD, but it seems that the downside movements wave has ended. On Friday, and despite the USD weakness, the price has made a bullish wave from 1.2475 level to 1.2556 level. I can call the first wave. I think the market will open today with a pregap on the USD's pairs because the US Dollar is undervalued.

    USDJPY:



    For this pair, the situation looks complicated, and that's why I'm not sure about this analysis, but at least I'm sure that price will make enough correction this week. The pair has dropped more than 230 pips, and according to my waves counting, I think the price is moving on the final wave. So, I think the price will go down again on Monday to the previous support level 108.40 level before starting a deep correction to 109.40-110 levels. That move will be the A and B waves.


    ---------- Post added 19-04-2021 at 01:38 AM ---------- Previous post was 18-04-2021 at 02:48 PM ----------

    Crude oil:



    I have mentioned this trading opportunity in the last few weeks. I was waiting for the price to retest this level 63.08 to share this analysis. I think the Crude oil has made five waves and now has completed the correction with an ABC pattern. As you can see on the chart, it's clear that the price has completed the minor C wave, which means the downside will start again to 53-50$ levels. The Gold will follow it too, so I think the USD will be the main reason behind this downside which corresponds to my own view.

    EURGBP:



    This pair looks interesting because it was on a bull rally. But on Friday, the price got a rejection from 0.8717 level and dropped +60 pips which I can call the first correction wave a. Probably the price will break the upward trend line and then retest it with before going down again to 0.8590 level. The Euro still overbought, and most of the Euro pairs will go down this week.


    ---------- Post added at 09:49 AM ---------- Previous post was at 01:38 AM ----------

    Today's data:



    Today, we have no high-impact data. All we have on the forex calendar is some low-impact data that won't move the market. I think many of you are expecting a boring week due to the lack of data, especially on Monday and Tuesday. For me, I think this week will have so much volatility because last week was a very calm and boring trading week. So, don't get surprised if you see the USD pair moving 100 pips in few hours. We still have the Covid-19 impact on the markets. The last high rate of Corona infections in the United States has raised concerns about the reopening of the US economy. So, the market will focus this week on developments in bond yield and the Coronavirus, which strongly affect the movements of the US dollar against other currencies. Let's see!


    ---------- Post added at 02:12 PM ---------- Previous post was at 09:49 AM ----------

    Margin call:



    Finally, my trades are closed with an 879$ loss which is the highest margin call on my bonus account. I'm not sad about getting a margin call because I did very well this time, I didn't get a margin call for six months, and it could be more if I didn't make these risky trades. The reason behind getting a margin call was always emotional trading and greed. That was another trading lesson for me, and I hope you will learn from my trading experiences.

    EURUSD update:



    In addition to using high lot size, the extended wave is one of the main reasons behind getting huge losses because it will stop only after kicking out all the sellers/buyers from the market. An extended wave is a wave when the market move in one direction roughly, doesn't make enough correction before continuing again. The current chart of the EURUSD is an example of this wave. +340 pips till now without any correction wave. That's why I keep updating my wave's counting on this pair every day. But, I still think that the price will turn down soon because the market makers need to take their profits. It looks like the pair is still moving on mini ABC waves. The price seems moving on the final bullish wave. I think the reversal will start tomorrow during London's session around 1.2070-1.2100 levels. The 5th wave hasn't ended yet. So, I don't recommend you selling it right now.

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    Market analysis:

    Gold:

    Gold has made a clear reversal sign after reaching the 1789 level, and I think the reason behind the latest bullish wave was the concerns about the outbreak of the Coronavirus again. But today, as the yield on US bonds rose again, which has attracted more investors to buy bonds and sell gold in order to make some profits from the US yield as a guaranteed profit, The US yield increased by approximately 1%. At the same time, gold dropped from 1789 level to 1766 level in few hours.



    Technically, the gold has started the next downside wave on the daily time frame, I'm expecting more downside soon to 1750 then 1720 level, and for the medium term, I think the 1660 level could be a valid target for the bears.


    AUDCAD:



    I'm not familiar with this pair, but I just wanted to share this analysis with you because it has a good trading opportunity. This pair has made five waves, and the 5th wave got extended. The price made a reversal around 238.2% Fibonacci level and made the "A" wave. Then, it started making a correction, which is the "B" wave. For now, I think the price will continue moving up today. On the small time frames, I think the price is still moving the 3rd wave, it still needs to complete the 4th and the 5th wave, and in general, I think the "C" wave will be moving on a diagonal pattern. The reversal may start around 0.9750 level.


    ---------- Post added at 02:17 PM ---------- Previous post was at 02:24 AM ----------

    EURUSD selling opportunity:




    I think the EURUSD has completed the upside movements now and it has already started moving down. O the M15 time frame, we can see some bearish movements from 1.2078 to 1.2027 level which seems like the first bearish wave. I think the price will make some corrections around 1.2060 level with a 3 correction wave before the second wave gets started. The next target for the bearish would be breaking the 1.2000 level and even continue moving down to 1.1900. The USD index looks oversold right now, so I expect a deep correction on most of the USD pairs today. Let's see!


    ---------- Post added 21-04-2021 at 01:07 AM ---------- Previous post was 20-04-2021 at 02:17 PM ----------

    EURGBP:



    The pair has started the correction as was expected in my previous analysis. The price has made 3 correction wave ABC as you can see on the chart. Now, the price has started moving up but the current bullish movements are too weak so I'm expecting another bearish wave to 0.8560-0.8550 levels tomorrow during London's session because I'm expecting more weakness on the Euro. Then, after completing the major correction wave. The price will be heading up again to 0.8830-0.8880 levels. This can take 1-2 weeks to reach the target.

    AUDUSD:



    The USD's weakness has dragged this pair too high, I wasn't expecting to see this air around 0.78 level. Anyway, the pair has started moving down and in the next few hours, I'm exêcting more downside to the 0.7700 level or a little lower before start moving up again with 3 correction waves as you can see on my chart. With the next 2 days, I think we should see this pair trading around 0.7600 level. Don't miss this trade. The AU Retail Sales will get released within the next 2 hours and market expectations indicate that the index will rise by 1% from last month. Let's see!


    ---------- Post added at 08:57 AM ---------- Previous post was at 01:07 AM ----------

    Forex calendar:

    Today, we have a busy day because there is a lot of data that will be released already released in NZ, AU, Europe zone, UK, US, and CAD. I will focus on the UK and CAD data because it can make some impact on the market. In the UK, during London's session, The CPI index data will be released, the CPI data is one of the most important data that can affect the interest rate, so the investors focus on it and it can move the GBP pairs, this index recorded a growth of 0.4% during the previous month and the market expectations indicate that the index may record growth in British consumer prices of 0.8%.



    The same index data will get released in Canada, but I don't think it an affect the Canadian dollar movements because the markets will be waiting for the next important data which is the BOC Rate Statement and the rate decision. During the previous meeting, the Bank of Canada decided to end all the stimulus programs and to maintain interest rates at 0.25% levels, which are the same levels that markets expect the Bank of Canada to approve during tomorrow's meeting. But I think they will resume the stimulus programs again which will affect the CAD negatively. Let's see!
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