Bias: Long 1, C wave (Elliott Wave Theory) 2, Ascending Triangle (Chart Pattern) 3, Bounced from monthly support 4, Target based on daily resistance
Not getting into all the details here on tview. Monthly (Purple) Weekly (Blue) Daily (Red) H4 (Green) Support, resistance, major trends. Simple Four Timeframes. Waiting for a great long opportunity over the next few weeks.
The New Zealand Dollar managed to find its way back to the topside last week, with the primary driver of flow coming from Wednesday's Fed Chair Powell testimony. In contrast to this, the RBNZ seems less dovish at the moment, with recent PMI data supportive. We like EURNZD shorts on pullbacks.
DAY TRADE - Expires at 9pm Trade Idea A bearish Head and Shoulders has formed. A break of the neckline is required to confirm the formation. The measured move target is 1.6300. Negative overnight flows lead to an expectation of a weaker open this morning. Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 1.6800,...
XAUUSD is in Horizontal channels XAUUSD Following Horizontal channels in that there is a small symmetrical we need to wait until they out the level. Horizontal channels are trendlines that connect variable pivot highs and lows to show the price contained between the upper line of resistance and lower line of support. A horizontal channel is also known as a...
Long Opportunity on GOLD after breaking out of the intra week $1205 Consolidation zone We may see a brief pullback before continuing higher into the $1426 upside target level early into next week Keep an eye on a weakening dollar
Long-term, the USD looks to outperform the EUR so we should talk any pops as a great short entry. Significant resistance lies above and I could understand waiting to get there before shorting but I'm not so sure we'll get there. Instead we'll put a stop loss above local highs and jump ahead of the official short signal, which hopefully comes soon.
EUR/USD is, in my opinion, forming a bull flag which makes me believe the pair will be moving towards the upside purely speaking out of a technical perspective. If anyone would like to add a fundamental bias you can do so in the comment section below. **THIS IS MY PERSONAL OPINION AND NOT A RECOMMENDATION TO TRADE. Check out my chatroom on my status page on...
BIAS: Short Over the weekend, there will be a gap to the upside so there is still a good chance to get in this trade as it has broken the neckline. This is also B wave within the corrective phase of Elliott Wave Theory. I don't usually trade B waves but with the confluence of the H&S it looks pretty promising.
4H Chart Explanation: - Price broke the Descending Channel. - Price is on the Weekly Ascending Trendline (Bottom of the Triangle Pattern) and have tested it 4 times. - If price bounces from here, it has a long potential movement towards the Resistance Zones. - The next Resistance Zone is 123.22, the next one is 125.044 and the last one is 126.764. The Weekly...
FX:EURGBP OANDA:EURGBP FOREXCOM:EURGBP SAXO:EURGBP Monthly – Triangle formation. Trend of lower highs at 0.9022 Daily - 261.8% and a DeMark 13 Intraday (four-hour) – Expanding Wedge has a bias to break lower Trade Idea We look to sell EURGBP at 0.9000 Stop 0.9025 Target 0.8830 Euro-zone retail sales declined 0.3% for May compared with consensus...
NZDUSD: double bottom ---> back on the trendline what now? 0.6653/58 key level.
Hi guys, the EUR/USD pair is completing a correction to the 61.8% Fib level on the daily chart, suggesting that the recently formed uptrend may continue. The price has also formed a bullish wedge pattern with an indecisive candlestick during yesterday's trade and a bullish candle in today's trade. My buy trigger is an upside break of the wedge pattern, with an...
The hryvnia (UAH) continues to trade sideways while in consolidation in the "no trade zone." Recently, the currency strengthened against the dollar (USD) and initially it looked like an opportunity to go long on the USD. However, the weekly EMA50 (which historically has provided support for the USD) turned into resistance, broke the 3 year trendline, and now we...
1 Hour Chart Explanation: - Price bounced on the Resistance Zone and, then, broke the Ascending Trendline. - It is currently on a Bearish Corrective Structure. - If price breaks it, it has potential to move down towards the Fibo Levels. Also, our 4H Vision supports a Short View too! Updates coming soon!
FX:EURGBP OANDA:EURGBP FOREXCOM:EURGBP SAXO:EURGBP EURGBP - Intraday - We look to Buy at 0.8916 (stop at 0.8891) Selling pressure from 0.8992 resulted in all the initial daily gains being overturned. The overnight rally has been sold into and there is scope for further bearish pressure going into this morning. Price action has formed an expanding wedge...
FX:AUDUSD OANDA:AUDUSD FOREXCOM:AUDUSD SAXO:AUDUSD AUDUSD - Intraday - We look to Buy at 0.6962 (stop at 0.6922) The gap open from 0.7022 to 0.7026 has now been closed. Selling posted in Asia. Daily/Weekly Ichimoku Cloud resistance is seen at 0.7035. Bespoke support is located at 0.6962. The medium term bias remains bullish. A bullish reverse Head and...
FX:USDCAD OANDA:USDCAD FOREXCOM:USDCAD SAXO:USDCAD USDCAD - Intraday - We look to Sell at 1.3140 (stop at 1.3175) Closed the day little net changed. Buying posted in Asia. Previous support located at 1.3068. The sequence for trading is lower lows and highs. Bespoke resistance is located at 1.3140. The rally is close to an exhaustion count on the intraday...