We can see a break of descending structure, bears take over the market. Price finds support and is consolidating in this range. Where will see price go heading into next week?
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No significant change, whilst mixed daily readings keep price action cautious.
Intraday price action is leaning lower, but critical support at 1.2059/65 should continue to underpin any immediate downside tests. The broader weekly chart, however, continues to deteriorate, suggesting the current consolidation phase is likely to give way to renewed losses.
The bitcoin price has potentially shown us some new levels for support and resistance levels
We've found support off a multi week trend line which seems to give us new parameters for the consolidation pattern in play, possibly indicating a prolonged consolidation.
This will allow the 20 week moving average to catch up and potentially suppress volatility on a...
Here we can see price is trading in a flat channel highlighted with the black horizontal lines and our green highlighted rectangle. Price is contained in this area. We are waiting for price to breakout to the downside on this pair.
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This range has buy & sell side liquidity that needs to be tackled. Ideally, I want to see a strong push above the consolidation into the order block marked before a reversal to the downside, as illustrated.
We've seen price honouring support at $35k now three separate times. While this is bullish it shows a strong sentiment to consolidate to the downside. This week I will be looking to see which event happens first: 1. we break outside the triangle using it as support (very bullish) 2. we break down below our $35k support and consolidate down to $30k. There will be...
New pair on the analysis page!
We've seen a long term uptrend on the pair. Price currently trading in a range with price failing to make new highs (aside from the fakeout). Will see more bears enter the market during next week.
Many AUD pairs at the top of their respective ranges including AUD/JPY - see our previous analysis on the pair!
What a week! Continual weakening on the TVC:DXY which caused my gold trade to fly through the roof at 320 Pips profit! Ive been thinking a massive economic reversal will be approaching since the lows in March due to the start of the UK's lockdown. My GBPUSD long positions have been consistently benefitting of this as I've been picking up long positions in the...
eurjpy has been in a downtrend recently and we can now see consolidation happening.
Once price has broken the purple box we can then see which way the market wants to go and can get in for a buy or sell order next week.
I will post a update of price oce this has happend
We are seeing the same theme across the USDXXX pairs which is lots of consolidation and indecision. Although we saw price break out of that strong descending trend line, we have seen nothing but a range ever since. I will be waiting patiently for a break either way followed by a re-test and rejection before considering a position.
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