US dollar versus Japanese Yen flagging a bearish pattern with the formation of a Bearish Harami as RSI hits resistance level and Stochastics trade in extreme overbought territory on 4 hourly.
Looking for this pair to head lower from here back to 108 levels then a potential break down to 107.5
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EURAUD rejecting the resistance zone at 1.63500
2 nice daily wick rejection candles and it appears the 4hr bullish trendline has now been broken. I am aiming for 1.60 before waiting to see if price breaks through the daily trendline marked on the chart.
Stop loss placed above the wicks to avoid any SL hunting and further tests of resistance.
the chart remains simple and tidy, however, there are many different tools to indicate and support our directional bias, in this case, GBP/USD has shown extensive pressure towards the downside, however, the price was unable to penetrate the dynamic area of support 1.26000. Based on previous price action this area showed a lot of liquidity hence why became an area...
This resistance zone has held for quite a while, infact, the first analysis I EVER PUBLISHED featured this pair, with this same setup.
If a true breakout occurs (price passes the previous high, the the ridiculous candle, the candle peak at 1.6200) then I'll revert the resistance to a support level for price to bounce off.
Should it hit 1.6200 and reverse, the...
Due to basic price action respecting the strong downtrend movement, i believe it will follow this set up.
1) trend touch
2) Fibonacci level 50-38.2%
3)previous respected zones
4) candlestick formation at trendline touch
TP - 144.800 region
Please leave a comment with what you think and if i have missed anything.
we are all students,...
As we can clearly see FX:EURCHF has retested resistance and rejected on the 4 hr. Looking at the weekly chart depending on how the candle closes out we could see a bullish week ahead. As shown current weekly time frame shows a clear tweezer bottom candle formation.
Also hit 61.8% fib retracement on the monthly.
Possible pullback to 1.1205 wait for confirmation....
USD/CAD to reach weekly resistance due to strong bullish trend
Bullish engulfing candlestick shows bullish sentiment reaching trend line resistance
Previous bullish engulfing showed strong bullish breakout
Daily support has been retested once again
Price has bounced off 0.382 level and has broken through 0.5 fib level
BROKE OUT OF WEDGE TREND
HIT SUPPORT AND WHEN BULLISH, HOWEVER WE HAVE NOW FORMED A SHOOTING STAR CANDLE STICK. FURTHERMORE THIS IS A STRONG CANDLESTICK SIGN OF A REVERSAL IN TREND.
WE HAVE ALSO JUST HIT THE 50% MARK IN FIBONACCI MEANING WE COULD EITHER GO BEARISH FROM HERE, OR IT MIGHT GO BULLISH AND THE 61.8% MARK AND OUR RESISTANCE LEVEL THEN BE A STRONG...
Break out has happend with a bearish candle with big wick with MACD tops lower. Target is the major support before this will have the next bounce. Stochastic has room to move lower. Will take trade on 60 min timeframe which is also showimg comfirmation
It was a very exciting trading week ended on Friday 04th October 2018, it just goes to show that what goes up must definitely come down.
Based on the last 2 trading sessions, the question we should be asking now is how far down will the markets be going? What does this new week bring? Some weeks it is difficult to technically forecast the market movement and I...
EUR/USD could have finished its retracement after a series of bearish momentum. The 61.8 fibonacci level seems to be holding up as price has rejected it on the H4 a couple of times. You can see a doji and spinning top on the H1 which suggests uncertainty around this level and potential reversal to the downside as PA seems to be exhausted around 1.1655. Price has...
This EURJPY trade has already been taken long, however I would like to show the Indication of setting the trade. Bullish Pinbar, key area and trend all factors.... EUR showing strength after Tuesday also.
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