USD/CHF - 4HR Chart
Price has been trading in this ascending channel. Not long ago we saw 6 year lows on this pair. We have remained bullish on the USD throughout.
Price is testing the topside of our structure. Will we see a breakout to the upside or a retracement before another bullish push?
USD/JPY - 4HR Chart
We've seen a bounce off our long term ascending trendline. Bullish cycle upwards imminent? Will we see price follow our forecasted price path?
Do not use trendlines alone to take trades, however - they can be great to help you identify the trend on the HTF.
We can see this support zone has now held for over two weeks. Following the previous break of structure we are still bullish on this pair. Price action was choppy last week on this pair.
Where is price heading next?
Have a great trading week!
We have seen our forecasted break of the key 4hr resistance level on this pair. We have predicted this for a long time now. As expected, it's a strong bullish break with CHF weakness through the London session.
Go back and check through my previous analysis on this pair!
We're currently at 1.37 once again. We tested this level yesterday and saw a strong bearish bounce off the level. Will we break this level today?
In yellow highlighted circles we can see all the previous tests of 1.37 and strong bearish rejections. This is combining a key level in the market with a whole psychological level that often acts as additional support...
What have we seen on this pair?
We've seen an ascending trendline broken and retested acting as resistance.
Following this we've seen a strong bearish move.
Will price rally up to our highlighted key level before more sellers enter the market?
Happy Trading! Simplicity is Key for longer term structure!
USD/CHF - Daily Chart -
Our blue daily key level is market at 0.9000 whole level.
We're expecting price to break our current 4 hr level during next week and rally up to test our blue highlighted level.
The green arrow shows the potential price path the pair could make in the longer term.
GBP/JPY - 4HR Structure
We can see here that price is trading in a flat channel, with 2 bounces off our 4hr resistance and support levels.
Zoom out to the daily chart and we can see this pair is in a long term uptrend, and nearer the bottom of our 'bigger picture' ascending channel.
Therefore, we can anticipate that price will break out of this structure to the...