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GBP/USD Sustains Upside Momentum, Reaches the High of 1.4025 Key Resistance Levels:1.4200,1.4400,1.4600 Key Support Levels: 1.3200, 1.3000, 1.2800 GBP/USD Price Long-term Trend: Bullish GBP/USD had been in an uptrend since September 2020. The price has been making a series of higher highs and higher lows. Today, the pair is trading at level 1.4025 at the time of writing. The RSI has indicated that price has reached an overbought region of the market. Therefore, the upward move is doubtful in the interim. GBP/USD – Daily Chart Daily Chart Indicators Reading: The 21-day SMA and the 50-day SMA are sloping upward indicating the upward move. The pair has risen to level 72 of the Relative Strength Index period 14. This indicates that the Yen is in the uptrend zone and above the centerline 50. GBP/USD Medium-term Trend: Bullish On the 4-hour chart, the pair has been in an upward move. On February 19 uptrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The Yen is likely to rise to level 1.618 Fibonacci extensions or the high of level 1.4089. GBP/USD – 2 Hour Chart 4-hour Chart Indicators Reading The GBP/USD pair is currently above the 40% range of the daily stochastic. It indicates that the pair is in a bullish momentum. . The SMAs are sloping upward indicating the uptrend. General Outlook for GBP/USD The GBP/USD is in an uptrend. The price has been consistently rising on the upside. According to the Fibonacci tool analysis, the market will rise to level 1.618 Fibonacci retracement level. Source: https://learn2.trade

USD/CAD Retests Level 1.2740, Resumes Downward Key Resistance Levels: 1.4200, 1.4400, 1.4600 Key Support Levels: 1.3400, 1.3200, 1.3000 USD/CAD Price Long-term Trend: Bearish The Loonie is on a downward move. The downtrend was a result of the rejection at 1.2850 High. The pair fell to level 1.263 and corrected upward. The upward correction also faced another rejection at 1.2750. Nonetheless, the selling pressure will resume if the price breaks below level 1.2600. However, since January, the bulls are yet to break level 1.2600. USD/CAD – Daily Chart Daily Chart Indicators Reading: The 50-day and the 21-day SMAs are sloping downward indicating the downtrend. The Loonie has fallen to level 46 of the Relative Strength Index period 14. The pair is in the downtrend zone and below the centerline 50. USD/CAD Medium-term Trend: Bullish On the 4-hour chart, the pair is making a brief uptrend. On February 16 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. This retracement indicates that the pair will rise to level 1.272 Fibonacci extension and reverse. That is at the high of level 1.2746 the market will reverse and returned to 78.6% Fibonacci retracement level. USD/CAD – 4 Hour Chart 4-hour Chart Indicators Reading Presently, the SMAs are sloping southward indicating the downtrend. The Loonie is in the oversold region above the 25% range of the daily stochastic. Buyers are likely to emerge. General Outlook for USD/CAD The USD/CAD has resumed a downward move after retesting level 1.2750. The Fibonacci has indicated a downward movement of the pair. The price action has confirmed the Fibonacci level as price resumes downward. Source: https://learn2.trade

Silver Price: XAGUSD Stays Optimistic Under $28.00 As Bulls Gather Traction XAGUSD Price Analysis – February 16 Silver (XAGUSD) price continues to range within the $27.00 to $28.00 region as buyers support the prospect for a move beyond the $28.00 and on the other hand, sellers need to refresh monthly low for entries. Silver is currently trading at $27.05 per ounce, representing a 0.50% loss on the day. Key Levels Resistance Levels: $30.00, $28.90, $27.92 Support Levels: $26.77, $26.00, $25.00 XAGUSD Long term Trend: Ranging XAGUSD bulls attempted to crush January 6, 2021, old barrier around the $27.95 zone but retreated to the $26.83 level. As a result, the quote’s further upside may be challenged by a psychological horizontal line at the $27.50 level. However, if the trend stays toward breaking past $28.00 marks, the monthly peak surrounding $30.00 will be the next target. Alternatively, a downside breach of the immediate support line, currently around $26.77 level, may take silver prices towards the low level at $26.00. However, any further weakness needs to break the yearly low of $24.01 to invalidate the XAGUSD bullish run-up. XAGUSD Short term Trend: Ranging Silver’s price has staged a major technical pullback after finding resistance at the psychological $30.00 level. However, on the one hand, the price for XAGUSD could likely be pushed down by the MA 5 crossing the MA 13 lower in the $27.07 range towards the $26.00 range. Meanwhile, the rate could gain support at the $26.77 horizontal level. And from the other hand, the white metal could likely gain support from the lower level near $26.00 in the event of a plunge. Thus, some upside potential could prevail in the market during subsequent sessions. Source: https://learn2.trade

An important factor that determines your profitability (it’s not what you think) When traders are looking for ways to become consistently profitable, they, sadly, tend to consider the wrong factors and looking for solutions in the wrong places. Yes, factors like hit rates, risk-to-reward ratios, risk control, etc. are very important to your career as a trader. Nonetheless, there is an important factor that determines your profitability, and it’s not what you think. Know when not to trade Yes, you need to know when to be in the markets and when to stay out of the markets. There are times when it is profitable to be in certain markets, and there are times when it is suicidal to be in such markets. For example, it is far easier to make money in bullish crypto markets, especially when Bitcoin and most other altcoins are trending upwards protractedly. During this period, traders and investors are richly rewarded. But when Bitcoin and other altcoins begin a bearish movement that holds out longer than what most people anticipate, both traders and investors suffer, as profitability dwindles. An apt example is what happened in 2018. When FX markets are trending strongly, all counter-trend strategies will perform poorly. When the markets are quite choppy, trend-following strategies will fail. That is why you need to understand the kind of trading system you are using and the market type you are currently engaged in. There is no strategy that can work in all market conditions: You either develop different strategies to deal with a bull market, consolidating markets, etc. If you cannot do this, then you need to stay out of the market which is not favorable to your trading system. An impatient trader can be sliced up in the market that threatens to plummet, but which fails to do so. You don’t need to be in a particular market always Some people think trading is hard, and they are somewhat correct because no-one knows what the market will do next. You may think it will go in a certain direction and you will be right. Sometimes, you may think it would go in a particular direction and you will be proven wrong. Know when to trade and when not to trade. Your profitability is largely determined by how many losses you are able to avoid. Did you sustain some losses in the past? Think of how profitable you would be now if you had been able to avoid those losses. Think of it: The more losses you have, the more your equity goes down. If you were able to avoid those losses, your equity would be saved from going down. Even when your hit rate is not very high, you will be able to go ahead by avoiding more and more losses. There are many factors that determine a great football team, and one of the factors is the ability to concede very few goals. The fewer goals a team concedes, the better their chances of survival. The more goals they concede, the worse their chances of survival. When a team is too desperate to win, they may charge and attack vigorously, while their defense becomes porous and vulnerable, and the opposing team may take advantage of that vulnerability. You shouldn’t be too desperate to make profits, to the extent that you constantly find yourself in unfavorable market conditions and you take more sub-optimal trades based on poor setups, therefore scuttling your chances of profitability. I have found ways to know when a particular market condition is favorable to my trading methodology and I take advantage of that. I have found ways to know when a market is no longer favorable to my trading method and I stay out of the market while looking for opportunities elsewhere. What about you? This piece is ended by the quote below: “… If there was a game that mimicked trading it would be golf. A golf game is won by the person who makes the fewest catastrophic error and whose management of their internal game is superior to others. Incremental gains count.” – C. Tate Source: https://learn2.trade

AUDUSD Upside Run Holds Steady Past Mid 0.7700 Level As Risk-On Mood Undermines USD AUDUSD Price Analysis – February 11 After it rebound from the prior week low at 0.7563 level, the AUDUSD pair has benefited from a sustained move past the MA 5 and 13 at the 0.7700 regions. The pair’s upside run continues to hold steady past the mid 0.7700 level as the underlying bias of a risk-on mood undermines the US dollar. Key Levels Resistance Levels: 0.8075, 0.7980, 0.7800 Support Levels: 0.7650, 0.7557, 0.7461 AUDUSD Long term Trend: Ranging The AUDUSD pair regained bullish traction on Thursday and reversed the prior day’s modest losses. The constructive outlook is reinforced by the bullish relative strength index on the daily charts. That said, bulls might still need to wait for some follow-through buying beyond the swing highs, around the mid 0.7700 regions, before placing new buy orders. Above the mentioned hurdle, the AUDUSD pair seems all set to build on its recent appreciating move and aim back to reclaim the 0.7800 marks. On the flip side, the 0.7650 regions might continue to act as immediate support and are closely followed by the 0.7700 marks. A convincing break below the latter might prompt some technical selling and accelerate the slide further towards the 0.7557 horizontal support. AUDUSD Short term Trend: Ranging As observed on the lower time frame, following the 0.7650 minor support intact, a sustained surge is anticipated in AUDUSD for 0.7800 resistance level. The continuous breach there may continue the total uptrend from 0.5506 level. Meanwhile, the next near term goal is a 61.8% forecast of 0.7000 to 0.7800 levels from 0.7557 at 0.8075 levels. On the flip side, the breach of 0.7650 minor support level may delay the bullish scenario and extend the correction from 0.7800 level. Source: https://learn2.trade

Dogecoin Price Analysis — February 5 Dogecoin (DOGE/USD) saw an overnight rally of about 80%, indicating that Wall Street Bet’s crypto division still has plans for the cryptocurrency. Dogecoin came into the limelight following a 900% pump on January 28, which catapulted the meme cryptocurrency to rank as the tenth-largest cryptocurrency based on market capitalization for the first time since 2015. As the massive rally began to lose momentum, many traders rapidly cleared their profits, as it looks like the investors are now looking for something else to invest in. The spike was originally sparked when exchanges restricted traders from acquiring more AMC and GameStop stocks on January 28, prompting the Reddit investors to seek other investment alternatives like silver and some “cheap” cryptocurrencies. On January 28, the Twitter user “WSB Chairman” tweeted to his 750k followers, saying “has Doge ever been to a dollar?” This question sparked a massive rally in DOGE, despite the crypto having no protocol upgrades since 2015. Several social media influencers were very discontent with buying the top of the rally, indicating that the speculative frenzy has ended. It is almost impossible to pinpoint the exact reason for the spikes, considering that there are several social networks, especially private Telegram groups and trading signal apps, actively participating in the price action. That said, measuring social media activities could become the norm for speculation. DOGEUSD – 4-Hour Chart Key DOGE Levels to Watch — February 5 DOGE/USD appears to have gone into consolidation between $0.0450 and $0.0350, as its bullish momentum loses steam. The cryptocurrency’s recent price action has formed a triangle pattern, indicating that a spike (to either direction) is just around the corner. That said, we expect a retrace to the $0.350 supporting the coming hours, where a rebound to the $0.0500 round figure and higher will likely occur. Meanwhile, our key resistance levels are at $0.0450, $0.0500, and $0.0600. While our key support levels are at $0.0350, $0.0270, and $0.0220. Total Market Capitalization: $1 trillion Dogecoin Market Capitalization: $4.7 billion Dogecoin Dominance: 0.47% Source: https://learn2.trade

Polkadot Price Analysis — February 2 21Shares, one of the world’s largest cryptocurrency exchange-traded products (ETPs), is releasing the very first Polkadot (DOT) ETP. The company announced earlier that the new product might get listed on the Swiss SIX exchange on February 4, 2021. The new ETP is coming just after Polkadot got added to 21Shares’ top ETP product Crypto Basket ETP (HODL) on January 29. HODL, which tracks five top cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH), has now removed Bitcoin Cash (BCH) from its listings and is replacing it with Polkadot as the second-largest constituent after Bitcoin. According to a report from MVIS Indices, Polkadot now makes up 27% of all ETP, while BTC accounts for about 50% of the product. According to a 21Shares spokesperson, the company has no say in the addition or removal of assets from the HODL ETP. The spokesperson noted that this responsibility is reserved for MV Index Solutions. 21Shares noted that the addition of Polkadot to its Crypto Basket ETP makes it the “perfect timing to add single asset ETP to the already wide range of crypto ETPs” offered. CEO of the company, Hany Rashwan, asserted that the company remains devoted to fulfilling the demand seen from institutional investors. DOT is a next-generation blockchain protocol, linking several specialized blockchains into one network. A few days ago, the cryptocurrency surpassed Ripple (XRP) as the fourth-largest crypto based on market cap. However, XRP has since reclaimed the spot. At press time, DOT is trading up by about 80% in its year-to-date high. DOT – 4-Hour Chart Key DOT Levels to Watch — February 2 Polkadot has been range-bound for the past few days between the 17.66 resistance to the 15.70 support. The cryptocurrency attempted another go at the 17.66 resistance some hours ago but failed to break above, once again. That said, DOT could continue on its range-bound momentum in the coming days, considering that volatility is beginning to fade. Nonetheless, a fall below 14.80 seems very unlikely in the meantime, indicating that Polkadot could remain in its 17-day range between 18.90 and 14.80. Meanwhile, our key resistance levels are at $17.66, $18.42, and $18.90. While our key support levels are at $16.44, $15.70, and $14.80. Total Market Capitalization: $1.06 trillion Polkadot Market Capitalization: $2.49billion Polkadot Dominance: 0.23% Source: https://learn2.trade

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Gold Price Analysis — January 29 Gold (XAU/USD) maintained its bearish tone through the early European session on Wednesday and was last spotted trading around the $1845 area. The bearish momentum was solely sponsored by a goodish uptick in the US dollar, which tends to undermine demand for the dollar-denominated commodity. The greenback saw a fresh influx of demand amid doubts over the timing and size of the newly proposed US stimulus bill. That said, the prevalent cautious mood surrounding the equity markets has capped further declines for the precious metal in the meantime. Market mood is currently being suppressed by the growing worries over an economic fallout from the COVID-19 pandemic and the escalating US-China tensions in the South China Sea. Meanwhile, the lower risk appetite bolstered a softer tone around the US Treasury bond yields, which extended additional support to the non-yielding metal. Also, market participants appear to be avoiding placing aggressive bets ahead of the FOMC monetary policy decision scheduled for release later today. This event, coupled with the release of US Durable Goods Orders data and developments surrounding the coronavirus pandemic, will be looked upon for market clues today. This makes it advisable to wait for a sustained move to the downside before placing aggressive bets. XAUUSD – Hourly Chart Gold (XAU) Value Forecast — January 29 XAU/USD Major Bias: Sideways Supply Levels: $1860, $1875, and $1890 Demand Levels: $1838, $1827, and $1818 Gold has traded on a directionless bias over the past few days, following several failed attempts to reclaim dominance above the $1875 pivot area. However, the safe-haven asset has also fought against a sustained descent below the $1838 support, putting it in a consolidated range. Depending on the outcome of the FOMC meeting later today, gold could finally breach the $1838 support and head towards lower support levels. Source: https://learn2.trade

USD/CAD Is in an Oversold Region as Buyers Are Likely to Emerge Key Resistance Levels: 1.4200, 1.4400, 1.4600 Key Support Levels: 1.3400, 1.3200, 1.3000 USD/CAD Price Long-term Trend: Bearish The Loonie is likely to continue its downward move. The recent upward move has been repelled by the 21-day SMA. Presently, the pair is falling and has fallen to the low of 1.2690. The loonie may reach the low of 1.2620. USD/CAD – Daily Chart Daily Chart Indicators Reading: The 50-day and the 21-day SMAs are sloping downward indicating the downtrend. The Loonie has fallen to level 43 of the Relative Strength Index period 14. It is below the centerline 50. A further downward move is likely. USD/CAD Medium-term Trend: Bearish On the 4-hour chart, the pair fell as the uptrend reaches the high of 1.2799. In the last 48 hours, the downward move has persisted. The overall trend has been bearish. The pair may resume upward if the price falls and reaches the low of 1.2620. USD/CAD – 4 Hour Chart 4-hour Chart Indicators Reading Presently, the SMAs are sloping northward indicating the uptrend. The Loonie has fallen below the 20% range of the daily stochastic. It is in a bearish momentum. The pair is still in the oversold region of the market. Buyers are likely to emerge. General Outlook for USD/CAD The USD/CAD is likely to continue its downward move as price faces rejection at the recent high. The price sometimes fluctuates as the market continues its downward move. In the previous price action, the pair fell and rebounded above 1.2650 on January 14. Source: https://learn2.trade

GBPJPY Attempts Upside Advance Beyond 142.33 Level on UK’s Vaccine Rollout Optimism GBPJPY Price Analysis – January 20 GBPJPY’s upside march attempts to advance beyond the 142.33 level with a strong impulse to test the higher barrier at 142.71 level. The optimism about the UK’s vaccine campaign and lower cases is strengthening the case for stability in Pounds Sterling. Key Levels Resistance Levels: 147.95, 144.95, 142.71 Support Levels: 140.31, 137.00, 134.40 GBPJPY Long term Trend: Bullish The GBPJPY pair has already rebounded from the weekly low of 140.35 to 142.33 levels as of today’s session and may lift further. Nonetheless, the horizontal resistance level currently around 142.26, followed by the 142.71 thresholds, challenges the GBPJPY bulls. However, bears are less likely to enter unless witnessing a clear breach beneath the moving average 13 around 141.00 level. In the larger context, the increase from the 123.99 level is seen as an advancing phase of the sideway range trend from the 122.75 (low) level. As long as the 147.95 resistance level holds, an eventual downside breakout stays in consideration. Nevertheless, the eventual breach of 147.95 may increase the likelihood of long term bullish reversal. GBPJPY Short term Trend: Bullish GBPJPY edged higher to 142.25 level last week but upside traction has been very unconvincing. Meanwhile, a sustained increase is mildly in support as long as the 140.31 support level stays intact. The present recovery from 133.04 level may aim for a test on 142.71 high level. On the downside, however, the breach of 138.00 level may argue that the trend from 142.71 level is starting another falling phase. Intraday bias may be altered back to the downside for 134.40 support level and beneath. Source: https://learn2.trade

XRPUSD Is Ranging Within $0.28 and $0.21 Levels, Awaiting a Breakout XRP/USD Market January 06 An increase in the bears’ pressure may penetrate the $0.21 level; the price may decrease further to $0.17 and $0.10. In case the support level of $0.21 holds, the price may reverse and the resistance levels of $0.28, $0.39, and $0.49 may be tested. Key Levels: Resistance levels: $0.28, $0.39, $0.49 Support levels: $0.21, $0.17, $0.10 XRP/USD Long-term Trend: Ranging XRPUSD is on the ranging mode in the daily chart. The coin is range-bound within the resistance level of $0.28 and the support level of $0.21. XRPUSD started the ranging movement on December 30. The bears made an attempt to break down the support level of $0.21 failed due to low bearish momentum. Today, the bears try to penetrate the resistance level of $0.28 but the level holds and the price could not break it up. Ranging movement will continue until there is a breakout. XRPUSD Daily chart, January 06 XRPUSD is struggling to breakout at the two key levels but the levels hold the price. An increase in the bears’ pressure may penetrate the $0.21 level; the price may decrease further to $0.17 and $0.10. In case the support level of $0.21 holds, the price may reverse and the resistance levels of $0.28, $0.39, and $0.49 may be tested. However, the price retains its trading below 9 periods EMA and the 21 periods EMA, the former is below the later. The relative strength index period 14 is at 25 levels bending up to indicate a buy signal. XRP/USD Medium-term Trend: Ranging On the medium-term outlook, XRPUSD remains in the ranging mode. The bears’ momentum and the bulls’ momentum are at equilibrium within the $0.28 and $0.21 levels. The support level of $0.21 is resisting the bears. The bears lose their momentum and the bulls’ pressure is equally weak. The price results in consolidation within $0.28 and $0.21 price levels. XRPUSD 4 hour chart, January 06 The fast-moving average is interlocked with the slow-moving average. The price is hovering over the 9 periods EMA and 21 periods EMA which indicates that consolidation is ongoing. However, the relative strength index period 14 is bending up at 60 levels to indicate a buy signal. Source: https://learn2.trade

Litecoin (LTC) Resumes Upward Move as Bulls Buy the Dips Key Highlights Litecoin slumps to $121 low and resumes upward The altcoin will further decline to $73 if the support at $120 cracks Litecoin (LTC) Current Statistics The current price: $144.63 Market Capitalization: $9,613,048,370 Trading Volume: $12,189,426,086 Major supply zones: $120, $140, $160 Major demand zones: $90, $70, $50 Litecoin (LTC) Price Analysis January 12, 2021 Litecoin has fallen to $120 low as the coin resumed its upward move. The crypto has fallen into the previous range bound zone of $120 and $140. LTC will retest the $180 resistance if the bulls clear the $140 and $170 minor resistance levels. On January 10, Litecoin was repelled as the bulls attempt to break the $180 resistance level. Meanwhile, the crypto has resumed upside momentum as the market reaches the high of $146. LTC/USD – Daily Chart Litecoin (LTC) Technical Indicators Reading After the breakdown, the LTC price broke above the SMAs which suggested an upward movement of the coin. The crypto is at level 51 of the Relative Strength Index period 14. It indicates that there is a balance between supply and demand. LTC/USD – 4 Hour Chart Conclusion Litecoin has fallen to $120 low as the current support holds. This has propelled the price to rise on the upside. However, if the $120 support fails to hold, the Fibonacci tool price prediction will hold. On January 11 downtrend; a retraced candle body tested the 61.8%Fibonacci retracement level. The retracement indicates that the crypto will reach level 1.618 Fibonacci extensions or the high of $67.40. Source: https://learn2.trade

Gold Price Analysis — January 6 Gold (XAU/USD) traded on a sideways pattern in the early European session on Tuesday, as the commodity struggled to capitalize on its bullish momentum from the previous two sessions. It appears that the market has begun pricing in the possibility of a Democratic win in the crucial US Senate runoff elections in Georgia. The final election results will not be out until the end of today, albeit with the increasing likelihood of a Democrat-controlled Senate. A Democrat-controlled senate will give President Joe Biden easier access to his preferred economic policies, including additional—and possibly larger—stimulus measures and infrastructure projects. This possibility has caused the US dollar (DXY) to come under immense pressure, thereby extending further support to the dollar-denominated commodity. Also, the prospects of stricter regulations for large tech companies—and the industry as a whole—caused the Nasdaq futures to slide by nearly 2%, which bolstered gold even further. Meanwhile, the 10-year US Treasury yield rose beyond 1% for the first time since March on the expectations of larger government borrowing. This rise is probably the only factor capping gains for the non-yielding metal. Also, investors are hesitant to place any aggressive bets ahead of the FOMC minutes scheduled for later today. In the meantime, the greenback’s price dynamics and the broader market risk sentiment will provide trading opportunities for the precious metal. XAUUSD – 4-Hour Chart Gold (XAU) Value Forecast — January 6 XAU/USD Major Bias: Bearish Supply Levels: $1950, $1965, and $1980 Demand Levels: $1920, $1907, and $1900 At press time, gold appears to be stalling near the top of our ascending channel as bullish momentum dwindles. That said, we expect a sharp price correction in the near-term to the lower-$1900 area. Our 4-hour MACD indicator pronounces the impending correction even better, as the commodity retreats from overbought territories. Source: https://learn2.trade

Silver Price: XAGUSD in a Run Towards $27.50 As the Dollar Becomes Weaker XAGUSD Price Analysis – January 6 Spot silver (XAGUSD) is looking to break the $27.50 level as the white metal breaks out of its recent high of $26.77 during Monday’s early European session. Overall, the market remains patchy, but the dollar as a whole is weakening as markets wait to see what happens with US fiscal stimulus and Georgia’s run-off on January 5. Key Levels Resistance Levels: $30.00, $28.90, $27.50 Support Levels: $26.00, $24.50, $23.50 XAGUSD Long term Trend: Bullish XAGUSD price has convincingly broken to the upside of its range and the main resistance level to watch out for is the $27.50 that has capped its upside since 15th September. To the downside, the previous top of the old December range at around $24.86 level ought to offer immediate support, in case of an unexpected decline. Alternately, if the $27.50 level gives way then silver prices could be looking towards posting further gains in the medium to long term. Price action has been broadly consolidating near the $26.00 levels over the past few sessions. If it does break above, a gradual move towards the mid-September highs above the $27.50 level will be likely. XAGUSD Short term Trend: Bullish As seen on the 4-hour chart, silver appears to be launching toward a major technical barrier at the $27.50 level. In the event, the barrier holds intact XAGUSD is likely to gain support from 4 hours moving an average of 13 near the $26.77 level and return to extend gains against the US Dollar in the short term. A possible upside target is the upside range at $28.90 and $30.00 levels, in the meantime, it is unlikely that bears could prevail in the market. That said, a sustained break below will be seen as the first signs of bullish exhaustion and turn the pair vulnerable to fall further towards challenging the key $24.50 psychological mark. Source: https://learn2.trade

Annual Forecast for GBPUSD (2021): After Plunge to Historic Lows GBPUSD to Further Recover GBPUSD hit an all-time low of 1.1409 in early March 2020 in response to the coronavirus crisis. Although the pair hit a 35-year low, the pair rebounded and continued to rally amid Brexit hopes, reaching a new 2020 high of 1.3554. The risk remains heightened as long as there is hope for Brexit. Key Levels Resistance Levels: 1.4345, 1.4000, 1.3624 Support Levels: 1.3134, 1.2675, 1.1958 GBPUSD Monthly Chart: Ranging GBPUSD rallied from March lows at 1.1409 to prove its resilience. Monthly technical data favors further recovery as price bounced off its moving average of 5 while the RSI consolidates towards 60. Moving average 13 acts as a reliable support in the event of a decline, both below the current level, and in the event of a bullish expansion. The risk remains biased upward as long as the price remains above 1.3000. Confirmation of the fall in GBPUSD will be a breakdown of the support area and the closing price below 1.3000. GBPUSD Weekly Chart: Ranging GBPUSD rose from 1.2675 last week to hit 1.3624. But since a temporary top has formed there, the initial bias is neutral initially this week. On the other hand, a break of 1.3624 will target the 61.8% forecast of 1.1409 to 1.3482 from 1.2675 to 1.4345 next. In such a scenario, the short-term trend remains bullish as long as support at 1.3134 is held, in case of a deeper pullback. A decisive breakout should also occur on sustained trading above the 5 and 13 moving averages. This should confirm the mid-term bottom at 1.1409. The trend can then be reversed to bullish up to the resistance level of 1.4345 and above. However, the 1.3514 deviations could keep the medium-term bearish sentiment for another decline below 1.1409 in the next phase. Conclusion GBPUSD may end the trading week outside the 1.3624 zones. The pair continues to move within the framework of growth and the formation of an upward recovery pattern. Moving averages indicate a bullish trend. t the moment, we should expect an attempt to grow and test the resistance area near the level of 1.4000. Source: https://learn2.trade

Annual Forecast for EURUSD (2021): Anticipated Price Surge to 1.2555 Level Stays Stronger Euro Dollar Exchange Rate – EURUSD is expected to trade at 1.22 and higher in 2021 by the end of this quarter. After COVID-19 disrupted financial markets and the global economy in 2020, the US dollar as a whole has weakened. Participants in the European foreign exchange market hope to see a return to economic growth by mid-2021. Key Levels Resistance Levels: 1.4940, 1.3993, 1.2554 Support Levels: 1.1602, 1.0635, 1.0340 EURUSD Monthly Chart: Ranging EURUSD has maintained its bearish trend since it touched the barrier at 1.2554. Since then, the pair has traded lower and the pair reached a multi-year low at 1.0635. After recovering, the pair gained enough momentum to confirm a bullish breakout. The next logical target is at 1.2554, and additional gains beyond that level would signal a long-term bullish continuation. If the bulls manage to push the pair over the barrier, the next in line will be the 1.2750 price zone, as the pair has several monthly lows around it. EURUSD Weekly Chart: Bullish The uptrend of EURUSD has reached the level of 1.2272. The further rally should be considered to 61.8% of the 1.0635 forecasts by 1.2011 from 1.1602 to 1.2452 further. On the other hand, a break of 1.2058 support is needed to mark a short-term peak. From a technical point of view, the pair has so far managed to defend the support on the weekly chart, which is now in the 1.2175-70 region. Starting in 2021, the gain from 1.0635 is seen as the third phase of the trend from 1.0339 (low). Further rally can be seen towards cluster resistance at 1.2555, mostly in early 2021 (38.2% retracement from 1.6039 to 1.0339 at 1.2516). This may remain the preferred scenario as long as the 1.1602 support remains. Conclusion EURUSD is recovering, but it could still be a corrective rally towards 1.3000. The idea is to see limited upside potential in 2021, however, the near-term situation supports the outlook for an extension of recent appreciation. Meanwhile, sentiment also continues to be fueled by expectations of a deal to boost the U.S. economy and the availability of a coronavirus vaccine. Source: https://learn2.trade

Annual Forecast for Bitcoin (2021): Price Prediction Averages at $50K After a multi-year bear run, Bitcoin (BTC) has finally shut the naysayers by clearing its previous all-time high at $20k and has recorded a fresh record high at $24,300 by December 2020. From the third halving event in May to dramatically dovish global economic monetary policies to combat the COVID-19-induced economic crisis, there have been several fundamental factors that supported the bull run. We will be looking at some of the factors responsible for 2020’s bull run and 2021’s in extension and highlighting our price expectation for 2021 as the year comes to an end. New Money The first factor to consider is the influx of Millenials into Bitcoin compared to other assets. It got reported that Millenials and Gen Z inherited about $78 trillion of wealth, and some of that wealth has undoubtedly flown into BTC, considering it’s the preferred investment vehicle for people in these generation groups. Limited Supply The next factor bolstering the price of the benchmark cryptocurrency is its limited supply, especially now when demand is at an all-time high. Only 21 million Bitcoins will ever get created, and about 90% are currently in circulation. The current inflation of the Bitcoin network stands at 1.8% and will continue to decline as more Bitcoin mining reward halving occurs. As we know, Bitcoin mining is the only method through which new coins can get created. Institutional Adoption This year was a big year for institutional adoption and investment in Bitcoin, as corporations seek out hedging assets amid financial crisis fears. 2020 saw well-known Bitcoin critics like JPMorgan and Goldman Sachs switch their stance, while we saw significant investments/adoption from Square, PayPal, Microstrategy, MassMutual, Grayscale, One River, Paul Tudor, Bill Miller, and several others. Bitcoin Price Outlook for 2021 Bitcoin has entered a new bull market, which can be observed through on-chain metrics, institutional investment inflows, and a booming retail adoption. That said, making a precise Bitcoin price prediction for 2021 is not an easy task. However, popular predictions average at $50,000 by 2021. The primary cryptocurrency will likely follow its historical price dynamics, but in a more subdued manner because of its maturity. Regardless of the inherent risk in cryptocurrency trading, one thing for sure is that Bitcoin will rally in 2021. BTCUSD – Weekly chart Bitcoin (BTC) Technical Outlook — 2021 BTC/USD 2021 Bias: Bullish Supply Levels: $24,300, $25,000, and $28,000 Demand Levels: $21,000, $20,000, and $17600 Bitcoin is likely to perform on a bullish sentiment as adoption picks up. That said, we predict a revisit of the mid-$21,000 level in the coming weeks, where a rebound could be facilitated. We can see on our weekly MACD that BTC is now venturing into overbought territories like in 2017. Bitcoin will likely take a breather at this point before resuming its sharp bull rally. The next break of the $24,300 ATH will likely get followed by an immediate clearance of the $25,000 round figure. Considering the factors surrounding the Bitcoin market and the financial market at large, we expect a continuation of the parabolic bull run into 2021. Source: https://learn2.trade

Annual Forecast for Ethereum (2021): ETH Is Expected to Reach High of $2,500 Major supply zones: $800, $820, $840 Major demand zones: $360, $340, $320 In 2020, Ethereum traded mostly in a bull market. In January, the biggest altcoin has an opening balance of $129 which rose to a high of $287. In March, the biggest altcoin encounter bearish rejection as the coin plunged to $89.66. The bulls bought the dips as they resumed an upward move in April. The coin has risen to $621 in November but it is facing resistance in December. ETH/USD – Monthly Chart Ethereum (ETH) Price Predictions: Monthly Chart Since April, Ether’s price has been making a series of higher highs and higher lows. A trend line is drawn showing the support levels of price. The candlesticks are testing the trend line and trending upward. However, if the price breaks and closes below the support line, the current uptrend is presumed to be terminated. The uptrend will continue as long as the trend line remains unbroken. ETH/USD – Weekly Chart Ethereum (ETH) Price Predictions: Weekly Chart Ethereum is in an upward move, the chart shows the resistance at $440 which was broken in November. A Fibonacci tool has indicated an upward movement of the coin. On the August 10 uptrend, a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that the coin will rise and reach level 2.0 Fibonacci extension. That is the coin will reach a high of $756.56. Conclusion Analysts believe that Ethereum will be range-bound between $500 and $700 this year. Where Ethereum is heading to in 2021? By end of 2021, Ethereum is likely to reach a high of $2500. This will depend on the growth of Ethereum in 2020. The growth phase can extend to 2021. Source: https://learn2.trade

GOLD PRICE ANALYSIS — DECEMBER 16 Gold (XAU/USD) inched lower in the early European session on Monday and has recorded a fresh daily low of around $1825. The renewed selling pressure got sponsored by the prevailing upbeat market mood as a result of the blooming optimism over the rollout of COVID-19 vaccines by Pfizer (NYSE: PFE). Investors’ risk mood got further bolstered by the news that the UK and the European Union have agreed to extend the post-Brexit trade talks, as both parties attempt to reach a compromise deal. The risk-on market mood got highlighted by the leg up in the equity markets and a positive bounce in the US Treasury bond yield, which naturally undermines demand for the non-yielding metal. Furthermore, hopes for additional stimulus measures, and the prevailing bearish pressure surrounding the US dollar (DXY) failed to woo gold bulls or extend any support to the dollar-denominated commodity. The greenback is currently languishing near a 30-month low amid fears of economic fallout from the imposition of stricter Coronavirus restrictions across several states in the US. Meanwhile, it is becoming more likely that the proposed bipartisan $908 billion COVID-19 stimulus package could be split in half to get approval by Republicans. Moving on, traders will remain cautious around placing any aggressive bets on gold as markets anticipate the two-day FOMC monetary policy meeting, which commences tomorrow. That said, it is advisable to wait for a sustained drop before placing any trades. XAUUSD – Hourly Chart Gold (XAU) Value Forecast — December 16 XAU/USD Major Bias: Sideways Supply Levels: $1850, $1865, and $1876 Demand Levels: $1823, $1815, and $1800 Gold is currently trading within a consolidation range between $1850 and $1825. A sustained break above or below this range would determine what bias the XAU/USD will likely trade on in the coming days. However, it is very likely to see a break towards the downside, given the fundamental factors surrounding gold. That said, a sustained break below the $1800 psychological level remains unlikely at the moment. Source: https://learn2.trade

SILVER PRICE: BULLS RETURN PAST $24.00 LEVEL ON XAGUSD AMID DOLLAR WEAKNESS XAGUSD Price Analysis – December 15 Silver (XAGUSD) price registers technical buying early in the European session while bulls return past the $24.00 level. The white metal is up ahead in trend amid continued dollar weakness on Tuesday as a result of an improved risk appetite. Key Levels Resistance Levels: $27.50, $26.00, $24.50 Support Levels: $23.50, $22.83, $21.89 XAGUSD Long term Trend: Ranging Silver (XAGUSD) moving average 13 which currently sits as support at $23.82 level has been like a solid base to the price action over the past few days, with the moving average 5 at $24.10 acting as solid resistance. The price of XAG continues to trade well within know levels to the upside, there is decent resistance in the $24.50 region, while to the downside, the bottom of the recent range comes into play just around the $23.50 level. At present, XAGUSD is up and the bulls may attack further north is of the $24.50 level. XAGUSD Short term Trend: Ranging A bout of technical buying on the rebound of a short-term downtrend around the ascending trendline support at the $21.89 level from Nov 30 has continued to sustain spot silver prices in the short term frame to reclaim past the $24.00 level. Nevertheless looking at the white metal over a medium time horizon, silver still trades well within recent ranges. Silver (XAG) is now attempting an upside breakout today and a breach of $24.50 minor resistance may usher in price to the $25.00 threshold. There is no follow-through buying yet. But sustained trading beyond the $24.00 mark should confirm that a rebound from $21.89 has been completed at the $24.86 level before another advance. Source: https://learn2.trade

ARE THERE THE BEST AND THE WORST MONTHS TO TRADE? The first time I set my eyes on a Meta Trader platform, I doubted I would be able to master its use, since the figures and features I saw seemed daunting to me. When I even heard about candlesticks, I didn’t know what it meant. Stupefied, I wondered whether I’d need to light some candles before I would be able to trade. Did this have to do with the environment? That was the year 2007. I got used to the markets and the Meta Trader, and I fell in love with them. Yes, I may be considered a pro now; but I was once a noob. I’ve had much experience and I’ve seen the good, the bad, and the ugly in the markets. I stay in the markets days in days out, learning many things. One important thing I learned is that there are some months of the year in which trading is easier and there are some months in which trading can be difficult. Just as the ‘sell in May and go away’ idea, yes some observations confirm repetitive patterns in the markets, and the patterns are valid. Best and worst months? I’ve observed that, in the months of January, February, March, and April, the markets tend to move seriously and predictably. Reversals are huge and sustained, as they form new trends. Trend continuations are more pronounced. This is also true of the months of October, November, and December. Trend-following strategies usually work well around this period. In the months of May, June, July, August, and September, false breakouts are never a curiosity and sustained trending movements are rather rare. During these months, the markets are difficult to predict, and most traders to get suboptimal results. Mean-reversion strategies tend to work around this period. Although there are exceptions, as this doesn’t mean there can’t be large movements anytime between May and September each year. Large movements do exist, and they often come as surprises. You can see them in historical data. Generally, I find trading easier from October to April; I find trading difficult from May to September. What about you? At times, this also has to do with the kind of trading system one is using. Source: https://learn2.trade

EURUSD UPSIDE RUN HALTS UNDER THE BARRIER AT 1.2150 LEVEL SUGGESTING DEEPER PULLBACKS EURUSD Price Analysis – December 9 The major European currency adds to prior session corrective downside and takes EURUSD to fresh lows in the sub-1.2100 area. EURUSD appears to be fading after its upside run halts under barrier 1.2150 level. The pair is off its highs could extend its downward correction. Key Levels Resistance Levels: 1.2350, 1.2200, 1.2150 Support Levels: 1.2040, 1.1920, 1.1800 EURUSD Long term Trend: Bullish The upside traction in EURUSD eased in the proximity of the 1.2200 resistance level in prior sessions. At the moment, the pair is losing 0.12% at the 1.2110 level and confronts the next support at 1.2040 level seconded by 1.2011 level and finally 1.1920 level. On the other hand, a breakout of 1.2150 level would target 1.2177 level (high Dec 4) en route to 1.2200 resistance level. The alternative scenario sees the loss of the 1.20 zone as an initial bearish signal, which would be boosted on a breach beneath last week’s low at the 1.1922 level. EURUSD Short term Trend: Ranging The intraday bias in EURUSD stays neutral for some range trading beneath the 1.2177 temporary high level. Meanwhile, the downside of the retreat should be contained by the 1.2011 support level to bring another increase. On the upside, breach of 1.2177 level may aim for 61.8% forecast of 1.0635 to 1.2011 levels from 1.1602 at 1.2200 level next. The pair is currently signaling a short-term downside correction towards 1.2040 levels. Any more losses could lead the pair towards the 1.2011 support zone. Source: https://learn2.trade

NASDAQ 100 PRICE ANALYSIS — DECEMBER 1 The Nasdaq 100 (NDX) has rounded off November on a positive note, after the month up by more than 11%. This surge was mainly stimulated by the recently-concluded US Presidential election and the discovery of potential COVID-19 vaccines. These themes were the major dominating fundamental factors through November, as hopes for things to go back to normal (pre-covid) ignited some sectoral rotation. The rotation occurred mainly between work-from-home stocks and traditional businesses, which helped indexes like the Dow Jones (DJIA) and Russell 2000 take the lead from the Nasdaq 100. Nonetheless, the NDX remains in a favorable position as markets enter the close of 2020. That said, stimulus hopes and potential political stalemate in Washington over most of President-elect Biden’s policies could cause the Federal Reserve to maintain its dovish outlook, which would be very beneficial for NDX bulls. That said, it is likely that there are tailwinds present in the equity market ahead of December and 2021. However, there’s the possibility that the NDX could fall into consolidation before we see a continuation to the upside, as the US Presidential election-induced volatility has now been weaned out of the market. Nasdaq 100 (NDX) Value Forecast — December 1 NDX Major Bias: Bullish Supply Levels: 12300, 12370, and 12439. Demand Levels: 12220, 12000, and 11890. The NDX is on an aggressive bullish rally as it inches closer to its all-time high at 12439. At the moment, the 12220 support will likely prevent any sustained decline given the confluence of indicators (ascending trendline and 12220 crucial support) at that level. We expect the NDX to break its previous all-time high and record new peaks in the coming days before consolidation likely sets in. Source: https://learn2.trade

GERMANY 30 (DE30EUR) IS IN A DOWNWARD MOVE, MAY FALL TO LEVEL 13153.70 Key Resistance Zones: 13600, 14000, 14400 Key Support Zones: 11200, 10800, 10400 Germany 30 (DE30EUR) Long-term Trend: Bullish The index is an upward move but it is facing resistance at level 13200. It must have reached bullish exhaustion as it faces rejection. On November 10, a retraced candle body tested the 88.6% Fibonacci retracement. This indicates that the index will rise to level 1.1129 and perhaps reversed. DE30EUR – Daily Chart Daily Chart Indicators Reading: Presently, the SMAs are sloping upward indicating the uptrend. The index is at level 64 of the Relative Strength Index period 14. This indicates that it is in the uptrend zone and above the centerline 50. Germany 30 (DE30EUR) Medium-term Trend: Bullish On the 4- hour chart, the index is in a downward move. On November 30 downtrend, a retraced candle body tested the 61.8% Fibonacci retracement level. This implies that the index will fall and reach level 1.618 Fibonacci extension. DE30EUR – 2 Hour Chart 4-hour Chart Indicators Reading The market is below the 80% range of the daily stochastic. It indicates that the index is in a bearish momentum. Meanwhile, the 50-day SMA and the 21-day SMA are sloping upward indicating the uptrend. General Outlook for Germany 30 (DE30EUR) DE30EUR is likely to take a downward movement. The index has been trading in the overbought region. Sellers may emerge to push prices down. However, in a trending market, the overbought condition may not hold. That is the pair will continue to rise. Source: https://learn2.trade