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Thread: Tradingforex' Trading Journal

  1. #4411 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Update on 22nd February2021:




    Hello, the mt5 forum community members. Greetings dear traders and all people around the world. I want to tell you that the last weekend was awesome and I always feel good to work with the Forex Market. The weekend is a refreshing time for traders but I never spent laziness time. Besides the weekend enjoyment, I always try to earn more knowledge about Forex Trading. Also, I have thought about all of my previous mistakes and I am trying to recover from them. This is very important to resolve my own issue and make the market for myself.



    My Trading account balance:



    Name: cents.PNG Views: 363 Size: 12.7 KB


    I told you before here that I was getting very few bonuses since 4 months. Now I have changed my content writing style and hope so that it will work perfectly for a good bonus. So, currently I have just cent amount on my bonus account and it's impossible to trade with this cent bonus.


    Demo account and running trades:


    Name: tradeeu.PNG Views: 348 Size: 16.0 KB


    It has been a long time, I am not trading for just lack of the capital. A trader can't get away from trading. So, I have opened a demo account to practice myself. The practice will make the trader perfect. The more practice with a demo account will give you more idea about the trading.


    Name: eurusdloss.png Views: 577 Size: 127.2 KB


    Now I have running trades with EUR.USD pairs which are running with loss now. Trades are with sell positions because of the dollar index. After putting my orders, the EUR.USD has started its movement to the upside position. The current loss of my account is around $20. I will wait till today or tomorrow. If I don't get a proper signal for the upside movement from the EUR.USD pair, I will close these running trades with loss.



    My Trading Plan:


    The USD. X is moving to the downside. Because of the downside pressure, the EUR.USD is moving to upside but this evening the USD. X will move to upside. If it will move to the upside, we will see a downside movement from the EUR.USD. Otherwise, I will close my EUR.USD sell orders with loss and make a new trading plan with Silver or GBP.USD. Mostly, I have a plan for Silver trading.



    The Weekly Technical Analysis of US Dollar Index:



    Name: #USDXDaily.png Views: 353 Size: 50.4 KB


    The US Dollar Index has shown a selling pressure by the last week. Still, the selling bias is pressuring other USD pairs to move rapidly. The USD index gradually has broken support levels. Now I am looking towards a continuous selling option with the dollar index and after breaking the next support level, the US Dollar Index will reach below 89.00. But if we look at a further upside movement from the USD Index with a break of 90.30, then the US Dollar Index will turn the movement to upside movement more than 91.00.




    The Weekly Technical analysis of silver:


    SILVER trading is very dangerous trading if traders won't be in concern with lot size and money management. For Silver trading, traders should have a good balance on their account. Lot selection will be the main issue to survive on the market, if the trader will use a small lot, they will survive on the market for a long time.

    Name: SILVERH4.png Views: 340 Size: 35.6 KB


    In Past weeks, Silver has made a long upward movement more than $30.00. But after reaching above $30, the silver has moved to the downside movement. The supporting bias of the upside movement has broken already and now the silver is rebounded to its price to downside movement. The new bullish bias has been created and the new bias is not like the previous bullish bias. Because the current bias is moving very smoothly to the upside movement. According to the current situation, the silver will reach a $28.00 price by the running week.

    Approved

  2. #4412 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Updated on 23rd March2021


    Hello, the mt5 traders community members. After so many times, I am back in my journal as though I was watching everything in the forum. Actually, I was losing my hope for bonus and instead of posting; I was just learning how to make a good content. I have checked all senior members post and they are a talented writer. Also, some new member has provided good content. By the way, Greetings and good evening to all members and guest of the mt5 forum. The weekend has been over and we have passed a wonderful weekend. From now, I will try myself to keep my posting with quality because the last few days, I have learned how to make the quality content.


    The Quality of Content & the Bonus Issue:


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    I believe that a quality content will assure a suitable reward for every writer. But the last time, there was two approved post in my journal and as a result I got few cent bonus. I dont know what happening in the mt5 forum. If I am not eligible for a bonus, why do they are approving my post? I hope so that the forum authority will be more concern about the bonus distribution issue and it is my humble request to solve the bonus issue. Actually, it is my lesson from my childhood not to lose the hope and one day the success will come to my door.


    The US Dollar Technical Analysis: The DXY is trying to figure out an exact one way direction.




    Name: #USDXDaily.png Views: 310 Size: 53.4 KB


    Last couple of weeks, the USD Index is not moving exactly because of the higher volatile market. Although predictors are expecting the USD INDEX price towards the upside region. But the COVID-19 pandemic situation is not giving the opportunity to boost up the US Economy. Exactly, the DXY has been chopping its price with a sideways movement since a couple of weeks. There have no any directional cues for the next trend and time to time, the price is placing a huge swing. The level of pricing is confusing the USD traders to execute trades, and a little patience will bring the correct trend by the next week. Overall, the price of action can bring the conviction levels which were getting tested repeatedly. It has created the most reliable support and resistance by the current month and if the pandemic situation will clear, we will see a long upside down movement from the USD Index.



    The News: FOMC



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    I should call the current week as the FOMC week because this week, we have lots of FOMC news. The upcoming FOMC news will make a change on the USD pairs trading. We should be more careful during and after the FOMC news. The slow and steady impact has seen by the last FOMC. If we will trade carefully during the week, hopefully we can manage a good amount of profit to trade with USD based pair.



    The Golds Technical Outlook: Gold has changed its traction according to the US Dollar Index.





    The spot gold has lost its trending momentum by the first session of the yesterday. When the market was closing last week, the momentum was fully on the upside of movement. Now the gold investors have moved to the safety trading style according to the US Dollar action. There was an initial negative signal from the gold to see its price towards the $165. The 50 percent of movement will be in place if we look for the strengthening of the US Dollar. It will move the price of gold from the overbought territory and the break of the $1700 will create the further downside pressure and it will create a full bearish structure.



    Resistance is at $1748; $1756; $1760; $1780; $1800.

    Support is at $1725; $1715; $1705; $1700; $1677.


    Thanks to watch my journal. I wish you all a wonderful life, and everyone will be safe during this pandemic situation. Best wishes for your trading.

    Rejected

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  4. #4413 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Hi, all member and guest of the mt5 forum which is the best traders community all over the world. Since the last few days, I was working with my writing skill and I have followed some senior members writing style how they are making the forecast or the analysis. Someone will always reward the good and quality content with a smart amount.

    Finally, the market closed and the last week an amazing week for the USDX and all USD traders has passed an exciting week because the next trend was not unpredictable. Base of the Dollar Index was getting its power, and the price was moving towards the upside movement. The USD Market has performed good towards the bullish zone and relatively some pairs have showed some good movements. The gold moved likely sideways throughout the last week.



    The COVID-19 situation in the Western World:




    The COVID-19 Pandemic situation is being dangerous since the last one and half year. The western economy has destroyed because of the COVID-19 Pandemic situation. Though the vaccination program has started from the end of the last year. But just before the beginning of March2021, the infection is exploding all over the world. EU has the smaller popular and with the small population, they are struggling from the starting time of the COVID-19 pandemic situation. The UK and US have the larger amount of population and they have done a remarkable achievement to fight against the COVID-19. The new president of the USA, Mr Joe Biden, has taken some serious step to fight against the COVID-19 pandemic situation.



    The US Dollar Index update and the Technical Analysis:



    Name: #USDXH1.png Views: 271 Size: 16.9 KB


    Through my last update, I have explained about the base of the USD currency. I was counting the day to see the higher bullish breakout from the US Dollar Index. Finally, the US Dollar Index has passed a decent week towards the upside zone. The hourly time frame showed the next sign for the upside movement as we can see the view through the attached chart. The US Dollar Index has tested the support level at 91.566 and 92.70. After checking the major support line, the price was moving like sideway movement by the last few hours of the last week.

    Name: #USDXDaily.png Views: 268 Size: 24.9 KB


    In the above chart with the daily time frame, we can see easily that there are some powerful bullish trend and the price has created the resistance line at the 92.50 price which has broken already. The bad data from the USD currency will make the changes of the next trend and gradually the USD Index price will move towards the downside.



    The Weekly Outlook of the EUR / USD:


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    The last week, there was a huge drop-down from the EUR / USD pair because of the USD INDEX movement towards the upside movement. It did not surprise me to the falling from the EUR / USD pair that the EUR currency was losing its power because of different economical reason. This Pandemic situation is making more dangerous the economy of the EU countries and EU leaders are blaming the situation from the COVID-19 situation. The EUR / USD pair has started the long term bearish trading plan for the next week. The EUR / USD price has created a strong support level and after rejecting the support line, the EUR / USD has pulled back towards the upside movement. But it should fall again towards the downside area and by the next week, we will see the EUR / USD price towards the support zone around the 1.1650 price region.

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  6. #4414 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Hi all valuable members and guest of the mt5 forum. We know very well that the Mt5 forum is the worlds best Forex Traders Community. This week, we had a good deal of news about different currency. The most of the important news was from the USD which is the base currency. All major pairs and commodities are depending on the USD currency. Well, already we have seen a huge breakdown from the USD INDEX. The USD INDEX has made the top price at the 93.40 after breaking the important resistance line 93.00. Since a long time, there was an obstacle from the USD INDEX price. A few hours ago, there was some USD news. The outcomes of the real data are good for the currency. But, Why the USD INDEX is moving to the downside? I am not understanding the reason.


    The NFP Preview: we expect a good jobs report by tomorrow.





    There is a great expectation for a good jobs report by the next day as it has scheduled on the 2nd April2021. Something highly expected this news for the USD currency and economists are expecting a strong job report by tomorrow. The average hourly earnings are always very important for the USD currency. All traders should more concern because of the coming NFP news.





    The Technical Analysis of the EUR/USD currency pair:







    The EUR Versus USD was moving continuously towards the downside movement since the beginning of the week because of the strengthening of the USD INDEX price. The negative dynamics have changed by todays European session. There was a short-term impact from the ADP data during the intraday trading fluctuations. But in the American session, the EUR/USD has moved towards the bullish zone.

    Initially there are some supports level at the 1.1690 and 1.1600. Resistance levels are at the 1.1890 and 1.1990.

    Now the main scenario for the EUR/USD pair is buying option because of the USD INDEX which is weakening since the first hour of the US session. The technical indicators are showing an upside pressure during the US session for the long-term trading. But the stimulation of the USD INDEX can change the scenario of the trading and the price can drop towards the downside zone. A minor correction can start soon towards the downside zone and it can reach to the 1.1700 price.



    The Trading recommendations of the GBP/USD Pair:







    The price of the GBP/USD has created support levels at the 1.3707 and 1.3685 and resistance levels at the 1.3810 and 1.3840.


    The GBP/USD was trading with range since the beginning of the week and there was a narrow range which we did not see in the last few months. There was not a big uptrend or downtrend from this week GBP/USD trading. If we consider the week has ended, then we will find only a short range from the GBP/USD. The pair price was moving like sideways movement between 1.1810 to 1.3700 price range which is not a big range at all for the GBP/USD pair. Today during the US session, the USD INDEX started its movement towards the downside zone that means the USD is weakening. The weakening of the USD currency is pulling the GBP/USD pair to move towards the upside zone. So, the trading recommendation should buy an option for the overnight trading. But the next day, we have an important news which will change the USD trading. So all orders should be closed before the US session by the next day.

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  8. #4415 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    EUR/USD:



    EUR/USD is ahead towards 1.1950 on a disparity above 1.1889. EUR/USD has stalled as expected at its 200-day moving average at 1.1889. Below 1.1795/87 though it is need hint a more decisive rejection of the 200-SMA has seen, clearing the movement for a move back to 1.1737, then 1.1703/1.1695. EUR/USD support has stalled as expected for now at the 200-day moving average at 1.1889 and something should still concede the strong support level around here. A quotidian MACD technical indicator which transforms higher though by a closing price higher in because of the resistance line. This should then see strength enlarge further to the 38.2% retrievement of the entire 2021 fall at 1.1948/50, potently even the mid-March highs at 1.1990/92, but with this 1.1950/1.1992 price zone await to verify a much tougher bare and we expect for a more momentous cap here. Whilst further familiar-condition solidification should suffer for, a destruction in due passage can discover the 38.2% retrievement. The spotlight remains on the keystone 200-age average at 1.1889, with the risk still skilled with a dislocation higher. Support for a backseat from the 200-Time usually induces to 1.1860 initially, below which can pleasure the immediate upside prejudice for a turn back to 1.1823/22, which we look to keep.

    GBP/USD:



    GBP/USD has traded to capitalize on its intraday decisive move, the index of a softer USD. Concerns over the dilaceration to the UKs vaccine rollout raise on the pure. A data, however, did inconsiderable to inculcate bullish traders or stipulate any meaningful support to the GBP/USD paid amid trading over the rupture to the UKs vaccine rollout. Now the double was last skilled protection well-nigh the decrease conclusion of its intraday jobbing ramble, below middle-1.3700s. The US Index dollar endeavored to capitalize from the over 4 hour chart, instead of margin decrease through the first part of the trading deed on Thursday. This accomplished as a keynote substitute that succor the GBP/USD double to profitable some decisive drawing and move off from touched in the support line. The candle maintains the scene for a retest of several weeks dissolute, familiar to the 1.3670 extent. The GBP/USD pair has faded and the late European bullish raceme to the 1.3780 province and quick shelter around 40 peep in the last hour. On the sparing data front, the UK Construction PMI bound to 61.7 in March from the 53.3 antecedent and beat even the most hopeful appraise. Hence, a succeeding coast towards the 1.3700 mark, en-march several-week top price at the 1.3670 neighborhood, now examine a specified option. From a technical perspective, the emergence of some technical indicators at higher impartial supports line for an augmentation of the GBP/USD set massive pullback from steady beyond the 1.3900 region.

    Approved

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  10. #4416 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    EUR/GBP Price Analysis:


    The EUR/GBP pair depressed to capitalize on its price towards the uptick zone and after the rejection from the 0.8700 zone for the earlier session on Monday. The GBP currency has witnessed a short-covering movement during the European session and the price is struggling to middle-0.8600s in the last hour time frame. A succeeding move beyond the 23.6% Fibonacci level of the 0.9218-0.8472, refused back face to expand the sharp revival from over one-year dissolute.


    From incidental events, they pegged a close second near the 0.8630-25 region. A constant move beyond should permit the EUR/GBP cross to intend back to reclaim the 0.8800 price mark for the first time since February. Looking at the technical follow through, the EUR/GBP has crossed the last week resistance line with a bullish breakout through a falling wedge chart instance. The 0.8600 followed this around the resistance zone. Intraday prepossession in EUR/GBP abides mildly on the upside at this instant.


    Rebound from 0.8470 deficient price bottom is in progress for 38.2% retracement of 0.9291 to 0.8470 at 0.8784. Sustained dislocation there will intensify the likelihood that the whole exemplar away 0.9499 has ended with three waves down to 0.8470. They would then verse stronger appearance back to 61.8% retracement at 0.8977 next. Below 0.8620 ward assist will bring a retest of 0.8470 second equivalent.





    GBP/USD Price Analysis:




    GBP/USD reverberates swiftly from 100-DMA protect, agree back above 1.3700 mark. GBP/USD has witnessed an intraday short-time movement from 100-day SMA, intimately the 1.3670-65 trading region. The determine-up rest tilted in favor of rough market and supported seek for further losses. The GBP/USD has recovered its price over 50 pips from two-month unseen and bound to a fresh resistance point, around the 1.3720-25 price mark during the early European session.


    Sliding the US dollar index relinquish the upside for the USD buncombe and enlarge support to the greater. This helps the GBP/USD currency pair to once again resilience from the 100-day SMA support level, closely the 1.3670-65 neighborhood.



    Any succeeding actual move might still look as a deceptive earnestness near the 1.3735-40 province amid absent significant sell-running economic disengage, either from the UK or the US. Intraday bias has set the GBP/USD price to delay the mildly on the downside. Break of 1.3669 will resume the emendation from 1.4240. Next target is 1.3482 keyboard resistance devote verify On the upside, above 1.3781 minor resistance will shape bias indifferently first.

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  12. #4417 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Gold Analysis:


    The price of Gold has been on full strange to the upside but has run into a partition of resistance and the concentrate is now on a considerable downside rectification. The recompense is already in stray and could expect to meet at least a 38.2% Fibo or a 50% degraded residue that has a conflux with the appearance of the preceding top left. Further down, the next quilt is at $1,753, which is an emergency contain the PP one-month R1, the 50-day Simple Moving Average, and others. On the downside, the initial support is at $1,740 (Fibonacci 23.6% retracement of Mar. 31-Apr. 8 rally, 50-end SMA) ahead of $1,730 (Fibonacci 38.2% retracement, 100-period SMA) and $1,725 (200-period SMA).

    The XAU/USD pair shut in the disprove territory on Wednesday but didnt have a crabbed season reversing its guide on Thursday as US Treasury association permit continue to strive goldens movements on. The benchmark 10-year US T-mortgage surrender, which pinks 1.4% on Wednesday, is losing 1.6% at 1.613%, helping XAU/USD preserve its bullish energy. The Technical Confluences Detector is displaying that XAU/USD has insignificant resistance on the away up, with the next high tatter being $1,779, which is where the Pivot Point week Resistance 2 has marked the price mark. Initial support awaits at $1,763, which is the conflux of the Bollinger Band one-age Upper, the BB 15min-Upper, the PP one-day R3, and others. On the four-stound delineate, the Relative Strength Index (RSI) indicator has edged higher to 60, prompt that buyers are severe to remain in subdue of the charged. Returns on the benchmark ten-year bonds born below the captious 1.60% and XAU/USD point $1,760.

    However, food coloring perplexed its traction intimately $1,750 in the last two trading days and it could have a laborious repetition congregation bullish impetus prep it direct to become a maid complete above that open. Something could verse the next resistance at $1,758 (Apr. 8 high). It is The Syn by $1,760, which is the meeting characteristic of the reliable monthly support line, the Simple Moving Average 5-15m, and the PP one-week R1.



    The EUR/USD Forecast:


    The EUR/USD has set its price towards the 1.1992 price mark this Thursday, a fresh April month higher price, but it is privacy impartial modestly. US Retail Sales overleap to 9.8% in March, pulsation of the financial markets expectations. Earlier in the Time, the modest selling affliction enclosure the USD amid dropping US Treasury bond yields assist EUR/USD goad higher. The data revealed by the US Census Bureau conduct that Retail Sales İn March surged by 9.8% on each month base, fine the market average for a growth of 5.9%. Additionally, the weekly Initial Jobless Claims earnest to 576,000, the lowest stamp in a year from 769,000.

    Although the US Dollar Index (DXY) inched higher with the opening reaction to these data, it obliterated its losses by affording increase the help of glissade. As for US data, March Retail Sales sharply cure, rising at 9.8%, much better than the 6.3% anticipated. Initial Jobless Claims pinched to 683K in the weekend of April 9, also throbbing expectations, while the Philadelphia Fed Manufacturing Survey came in at 50.2 in April. The govt will punily publish March Industrial Production and Capacity Utilization.

    A restriction deviate could come on a shatter below the 1.1940 price mark, while bulls will resume the aim on a trend above 1.2010. Currently, the benchmark 10-year US T-bond relinquish is flattering about 6% on the Time at 1.543% and the US Dollar Index is withholding uninteresting around 91.65. The EUR/USD suit continues its near stipulation bullish breakout by yesterday, as it hardens at the higher limit of its monthly trading range. The EUR/USD suit flush to its meridian horizontal in four weeks at 1.0995 on Thursday but contend to secure its bullish energy.




    The GBP/USD Forecast:

    The GBP/USD pair has pointed at 1.3797 and experienced the intradays drops below the 1.3770 mark. The US dollar Index has listed the higher price earlier on Thursday after a meager action on Wednesday that led to follow-through in London, where the DXY hit a mound of 91.4930 before overcoming. The GBP/USD was trading around flat the last Thursday, the price of the GBP/USD was 1.3780 at the time of making this content having the price range between a lower of 1.3765 and a higher price of 1.3808. The GBP/USD pair held on to its intraday dexterous, albeit offense any syn-through emotion and behind completion below the 1.3800 sign inform-US macro releases.

    The pair build on this months goodish bound from the 100-day SMA support around the 1.3670-65 vicinity, and handy some indisputable attraction for the fourth consequential session on Thursday. Its been a mixed time as traders balance up the outlook for the US dollar index, UK, and US economies. After two days Investors have had to neutralize bullish data display US Retail Sales rebounding sharply in March against an extended Bottrop in US Treasury permit. Treasury concede have lead from below the extension of the one-year high last month to extension unimpaired lows on Thursday. As per the previous analysis, the Bears front fails at censorious monthly/weekly resistance, the estimation relics in a rough technical around and the daily individual and shoulders is a compelling outlook still. of some consecutive bullish trends, GBP/USD was missing the battle in the Asian session.

    However, a modest US dollar rebound from four-week lows kept an eyelid on any further near for the GBP/USD pair. Critical resistance watch at 1.3810, which is the weekly violent and a clear that had antecedently capped cable length. 1.3850 and 1.3920 accompany it. Support expect at 1.3750, the bottom of the stream roam, maintain by 1.37 and 1.3670 the latter is a decisive price mark.

    Rejected

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  14. #4418 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    The EUR/USD Technical Analysis:



    Hello friends. I am back again after an interval and welcome to my trading journal. Today, I am presenting a technical analysis with the EUR/USD pair. EUR/USD holds its price towards the lower area near 1.1970, down 0.07% intraday, ensuring an inactive lead to the weekly trading during the first day of the Asian session. Indeed so, the sellers are struggling with 50-HMA while the price was attempting to reach the double-top bearish chart creation on the hourly time frame. Given the recent bearish Momentum, created with rejection below the 1.2000 prices mark, EUR/USD may certify further pull-back towards the 1.2070 price region. However, sellers may watch for a pure breakout below the 1.1955 support line before alluring recent entries.

    Initial resistance is neutral this week for some consolidations first. Further downside momentum will stay in support as far-reaching as 1.1875 support holds. Sustained trading above 1.1989 resistance will assure our bullish look that correction from 1.2348 has been completed at 1.1703. Further, pullback movement towards the bullish region would then be accomplished to the 1.2240/2346 resistance zone. However, the break of the 1.1876 support line will transfer bias back to the downside for 38.2% retracement of 1.0635 to 1.2348 at 1.1694 equivalent. In the bigger picture, bulls from 1.0635 are versed as the third bow of the chart from 1.0339 (2017 low).

    While a downside break of 1.1960 will verify the pessimistic chart, guide the quote towards the 1.1910 price area, 200-HMA, and an upward shelving trend line from April 05, relatively around 1.1965 and 1.1920, unite to the downside filters. Alternatively, EUR/USD buyers should wait for a clear upside dislocation of the 1.2000 hurdles before notice the middle-February lower price around the 1.2025 during the fresh revival breakout. EUR/USD redden further to 1.1994 last week, but the effort to infringe through 1.1988 resistance decisively.

    Further rally could be accomplished to cluster resistance at 1.2555 next, (38.2% retracement of 1.6039 to 1.0339 at 1.2516). This will last the favored inclose as extended as 1.1602 support holds. However, the break of 1.1602 will argue that the whole rise from 1.10635 has consummated. Deeper drops would be accomplished to 61.8% retracement of 1.0635 to 1.2348 at 1.1289. In the protracted term represent, the case of longer condition bullish reversal unites to build up, with bullish convergence mode in monthly MACD, sustained trading above 55 months EMA. Focus is now on 1.2555 major resistance (38.2% retracement of 1.6039 to 1.0339 at 1.2516 ). Decisive break there will substantiate and target 61.8% retracement at 1.3862 and above.

    ---------- Post added 20-04-2021 at 01:40 AM ---------- Previous post was 19-04-2021 at 05:36 AM ----------

    The Technical Analysis of Gold:


    The price of gold metal traded to set on last week's bullish momentum and touched its higher price since February at $1,790 on Monday. However, the yellow metal has failed to sustain its bullish impetus in the Asian session of the day. Just before the US Session, the Gold was losing 0.13% as the daily lower price at $1,774.

    On the 4-hour chart, the 38.2% Fibonacci retracement of the unit that has started by the last week on Thursday and ended today earlier on Monday seems to have formed a strong support line at $1,767. Another price cap is at $1,784, which is where the former daily higher price experienced the Simple Moving Average 5-1h. Finally, $1,786 is where the Pivot Point day Resistance 2 clash the desired price. Initial support awaits at $1,775, which is the confluence of the Fibonacci 38.2% one-day and the preceding 1h-lower price.

    Meanwhile, the Relative Strength Index (RSI) indicator on the same time chart connects to keep stable the price above 50 SMA, hint that the yellow metal is staging a technical correction towards the bearish region. Below $1,767, the 20-day Simple Moving Average line as the next support level at $1,764 ahead of $1,760 (Fibonacci 50% retracement). On the other side, the yellow metal gold could target $1,790, once again, if it trades again around a four-hour candlestick above $1,775 (Fibonacci 23.6% retracement). Finally, the $1,800 price is the psychological trademark and it could be versed as the next aim on the upside region if bulls resume of the desired price mark.

    It is accompanied by strong support at $1,773, which is where the BB one-day Upper and the SMA 50-1h region. From a technical view, last weeks sustained move beyond the $1,760-65 price region reaffirmed a bearish bias at the daily time chart. Hence, any meaningful glide back towards the marked resistance breakpoint should be accomplished as a good buying opportunity, which should support limiting the downside for the gold. Gold witnessed an intraday turnaround from a two-month higher price and reached the daily low, around the $1,770 price region.

    Approved

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    AUD/USD Analysis:


    Hello Mt5 Traders. How are you? I hope that you are fine today and passing a good trading time with the InstaForex broker. Today, I come back again with AUD/USD analysis. Intraday bias in AUD/USD awaits the upside at this point. Rise from 0.7502 should slice the 0.7847 resistance line first. A firm breakout there should corroborate that recovery from 0.8005 has consummated with three candlesticks down to 0.7532. The retest of 0.8007 top should be accomplished next. AUD/USD distress to keep the price 0.7710 on US Dollar Index small bulls of Aussie Retail Sales. AUD/USD has shown the biggest losings in the last two weeks after rising to the fresh monthly higher price just above the resistance line.

    Fundamentally, RBA critical recapitulate nonemployment, inflation as support the easiest monetary policy, PBOC larboard benchmark rates unchanged, as wait. The preliminary version of Australias March Retail Sales will be the main factor. On the downside, below 0.7707 initial support will apply intraday prepossession neuter first. AUD/USD licks its wounds around 0.7732 after barely rescuing it from breakage down the 0.7710 price mark during the previous days drop. Indeed so, the Aussie buyers engagement the bears who portrayed the biggest downside in nearly two weeks.

    Although the US dollars comeback could be select as the major object, watchful maxim before todays Aussie data might as well gain the markets regard. Looked at through the USD bull's-eye, this month's pull-back in the USD and the sign of more to arrive is also conducive of our predominant technical and fundamental forecast for AUD/USD revise the 0.8010 price level around middle-year and moving into a modestly higher (0.82-0.87) initial trading range come towards the bullish region.

    Technically, despite the recent pullback, AUD/USD stays above the 100-day Simple Moving Average even nearly 0.7730 on a daily closedown, which in turn keeps buyers optimistic. Rise from 0.7505 could either be the alarm of an extended stipulation uptrend, or a recovery pull-back towards the upper region. Reactions to 0.8145 major resistance will reveal which casing it is. But in any inclose, average expression reunite is think to last as bulls as 0.7410 resistance deflect support restrain.

    Rejected

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    Updated on 28th April2021

    The Bonus Update:


    Hello, dearest traders, greetings and good morning to you. Finally, I have got the bonus for week-17. A few hours ago, the bonus for week-17 was credited to my trading account. After a very long time, I have got the bonus and hope that day by day, and the system will increase my bonus ratio.



    What can I do with this amount of bonus? I have only one option to put the trade on silver with 0.01 lot. Whatever, I will try it later and now I will practice through the demo account.


    The demo account opening:


    I have opened the demo account, and the initial deposit is $500. I am planning to make it $1,000 within a month with lower risk.



    Trading Update:

    I have put 2.00 lot size buy orders from the EUR/USD pair. The US Dollar Index is moving with a sideway movement but mostly price is moving to the downside. So, I think the buying recommendation will be worthwhile to increase the capital.




    The Entry Point, Exit Point, and the Trading Recommendation:


    I am late to put the buy orders from the EUR/USD pair because the buy entry point has started from the 1.2050 price levels. In the daily chart, there is a strong resistance level at the 1.2116 marks. If the price will break the resistance line, the EUR/USD price will reach the next resistance line 1.2242. The buy entry point will exit if the price can not break the resistance line. As the trading recommendation, the EUR/USD is holding around the 1.2080 price zones with the 24-hours simple moving average. A rejection from the resistance line will exit the buying opportunity, and the intraday outlook will be negative if the dollar index will start to move upside.

    Approved

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