Conclusion for today’s EURUSD analysis: A close above ~1.12660 implies bullish strength in the EURUSD. EURUSD analysis for today is carried out using a 1 hour timeframe candlestick chart. The main purpose of analysis today is to quickly review price action. Besides, chart patterns that can be identified are also paid attention to since they are crucial to...
Long trade, based on support/resistance levels and candlestick and volume analysis.
1H CHART EXPLANATION: The main items we observe in the Chart are: - Price is currently on a range, between an important Support Zone and Resistance Zone. - Bullish Divergence on MACD. - Price bounced on the Support Zone and is trying to go up. Based on this, if price breaks the Descending Trendline at 1,3435, it has potential to move up towards the Resistance...
Conclusion for today's analysis: Price action closing above ~1.72766 is bullish for the EURNZD EURNZD analysis for today is examined on the 6 hour time frame with the sole purpose of inspecting chart patterns and moving averages (50 and 200) used in this study. Price action from December 03, 2018 to current date is present inside of what is best described as a...
GBP/NZD, H4: Mirror level + Breakout of resistance zone + Convergence & Oversold on RSI(14)
NZD has been in a strong downtrend on the back of softer local data, a recent RBNZ rate cut, and downturn in global sentiment. More recently, Kiwi has been sinking in sympathy with its Aussie cousin, reminded once again of the rate cut trajectory after the RBA Minutes moved in a similar direction. We like pullbacks towards short-term resistance as entries....
Bias: Long 1, Bat Pattern on Daily Time Frame 2, D point at monthly support region (H4 and Daily TF) 3, RSI Divergence 4, D Point also 61.8% of previous Bullish Impulse 5, Falling Wedge near D point on lower timeframe
Bias: Short 1, Ascending Channel 2, Ascending Wedge 3, RSI Divergence 4, Price currently in Daily Resistance Overall, I am see a huge channel that made its way to a well respected daily resistance. Now that the price is hovering around in the daily resistance region, I am noticing a strong RSI Divergence and a textbook Ascending Wedge. The aim now is now to...
Wait for a correction back down before taking long Decent R\R of 1:3
Conservative members of Parliament agreed on a timetable for a leadership race to replace PM May in June. Boris Johnson confirmed he would be in the running to succeed PM May. After May there will be more pro-Brexit support. GBP has been sold aggressively on higher Brexit probability. Previous target/support has become short-term resistance and that is the...
As market volatility has come back with a vengeance and the US Dollar continues to remain strong, one EM currency that has been hit particularly hard this year has been the Brazilian Real ($USDBRL). Sluggish growth forecasts, coupled with waning support for the Brazilian President has sent the Brazilian Real to its lowest level of the year thus far. The sharp...
Been monitoring this trade since last week Monday. Saw the support zone for last week overall trend reversal and now letting the pair produce a bullish channel. It the current candle which opened this evening closes above my line @110.189, this will show that it has broken previous daily tf resistance. Target Price @111.459
4H CHART EXPLANATION: Main Items we observe on the Chart: - Price is on the Support Zone. - Bullish Divergence on MACD. - If price breaks the Descending Trendline at 0,694, we expect an up move towards the Major Descending Trendline at 0,714. MULTI TIMEFRAME VISION: - Weekly - Daily