Hello Everyone, It is a lovely morning, and I'm pleased with my analysis of the past. What I mean in my journal is that I have found the ultimate demand field in the eur-usd business pair. I didn't miss the opportunity to trade and bought the price using standard Lot 3.0, which manages 200 up profit money for me, but I am not happy with this because it is virtual money. I hoped Yesterday our profile would be updated but did not. Some member's profiles have been updated, but with white kind money, I don't know. It might be that it is the best contest or pending bonuses. I hope you are in a good position and very much excited.
RECENT CLOSED TRADE AND RUNNING TRADES[: I bought the gbpusd the day before, and Yesterday I purchased the eur-usd pair. I have gathered some exceptional experiences through those trades. The British pound depreciated very sharply. Yesterday, I did not predict, but hopefully, the price will start to move up again, and my loss trade will move towards a profitable area.
US DOLLAR FORECAST AND ANALYSIS
The mother pair US dollar index is in the bearish zone. Eyeing the price chart, we see that the price is trading just below the daily pivot level at 92.20. MACD looks still bullish. Last two days, this price is slow in the correction phase. Today I will focus on the 38.2 fibo with daily pivot level. If the price can stall above those levels, this price will relaunch the uptrend. However, if the price fails to do that and remains below those levels, we will get selling ideas on the asset.
USDCAD ANALYSIS USING H4 FRAME:
Looking at the h4 chart, we find 200 SMA has been serving in favor of bears since 8th February 2021. Last 30th March, the bulls broke the indicator but could hold its breakthrough power above the resistance and pushed below the SMA slope. Today again, some attempts are seen to breach the barricade of bears from the side of bulls. Price now is running to test the SMA slope to settle above the line. By looking at the lagging map, I am seeing RSI is energetic to increase its value. Currently, this indicator is above 50.00, so the selling decision is risky, but if the price can make a complete 4-hour candle above the SMA, we will look for buying trade. However, if the price is rejected again by the EMA, that will lead us to start selling.
USDCAD ANALYSIS USING THE DAILY FRAME
I am getting a weak buying signal using the daily chart because it is trading just under the fifty-day EMA. Her positive message is that ten periods moving average indicator is now below the daily running candle and RSI hovering 51.00 value. From the head and shoulder perspective, this price is going to form an inverted head and shoulder. It seems to me when the price brings his value above daily EMA. We will be sure that the inverted head and shoulder have completed its scenario and can be interested in buying. However, if the EMA line rejects the price, that will make the price bearish and look for a selling setup.
Trading Setup: using both time frames, I have produced a Medium-strong buying signal. We see a long gap between the current quotation and d1 EMA, and of course, the price retains 10 SMA. Also, it seems to me bulls are very much interested in meeting or charging the EMA that creates short buying signals what I recommended.
WHITE METAL ANALYSIS USING DAILY FRAME
During the weekend, I have some speeches for the bulls of the white gold. The price rebounded from 23.6 fibo and penetrated in the previous week, but the daily candle did not complete in the buyer's area. That's the reason I did not emphasize buying the price. Today, I am getting a combination of three more indicators. The price makes support at 38.2 at 24.95, which aligns four more bottoms; the 200 Moving Average indicator is working behind the bulls of the price. I draw a yellow uptrend line that also guides the prince to climb up.
I am now on the four-time frame to rectify the given signal of the daily time frame on the silver pair. Currently, the price breaks above the 38.2 fibo to test its new support. We also see that the price broke the 50 EMA before breaking the 38.2 fibo value. It means white metal now under the control of bulls.
Trading Setup: The entry price is 24.71 to 25.18, our take profit will be 50.00 fibo at 25.92, 26.23 levels, and stop-loss will be 24.30