Due to the potential fake breakout of the resistance and the selling tail on the daily time-frame, I see opportunitiy for the downside movement.

All ideas on FXC and FXC TV are created and recommended with the intentions of help and education, but not guarantee the future success. Please be aware of your account risk management and leverage trading knowledge. For more information, ask us on chat or with your FXC account manager.

Recommended Content


Recommended Content

Editors’ Picks

EUR/USD clings to strong gains above 1.0950 ahead of US data

EUR/USD clings to strong gains above 1.0950 ahead of US data

Following a pullback seen in the European session, EUR/USD gathers bullish momentum and trades at fresh multi-month highs above 1.0950. The US Dollar remains under heavy selling pressure and helps the pair push higher ahead of ISM Services PMI data.

EUR/USD News

GBP/USD falls back below 1.2750 ahead of US ISM Services PMI

GBP/USD falls back below 1.2750 ahead of US ISM Services PMI

GBP/USD has come under renewed selling pressure, trading back below 1.2750 in the European session on Monday. Potential Iran-Israel war and US recession fears weigh on risk sentiment, acting as a headwind for the higher-yielding Pound Sterling. US ISM PMI is next in focus. 

GBP/USD News

Gold price steadies on firm Fed rate-cut bets, Middle East conflicts

Gold price steadies on firm Fed rate-cut bets, Middle East conflicts

Gold price recovers above $2,440 after declining to near $2,410 in Monday’s European session. The precious metal faced selling pressure as profit booking kicked in while attempting to recapture all-time highs above $2,480.

Gold News

Bitcoin price falls below $50,000 amid rising Israel-Iran tensions

Bitcoin price falls below $50,000 amid rising Israel-Iran tensions

Bitcoin's (BTC)  price shows weakness on Monday, trading 12% lower at $50,898 at the time of writing, amid a slowdown in US employment as shown in the NFP report for July published on Friday and rising Israel-Iran tensions. 

Read more

Five fundamentals for the week: Global sell-off has a life of its own, Middle East may spiral out of control Premium

Five fundamentals for the week: Global sell-off has a life of its own, Middle East may spiral out of control

Panic – no better word to describe a fall of over 12% in the Nikkei stock index and plunges in almost all assets. Will it continue? The sell-off has a life, but the factors triggering it matter. 

Read more

Majors

Cryptocurrencies

Signatures