EURGBP is currently consolidating within a horizontal parallel range.
Though I have seen a lot of trading ideas suggesting to buy EURGBP from current levels,
in my view, it is more reasonable to let the market go a bit lower and buy it from 2019's low.
*I am not suggesting to sell the breakout of a range,
Last week GBPUSD has retraced from 1.3 level
and currently, the pair is consolidating within a falling channel .
I believe that bears will continue pushing the market lower
and buying volumes will consolidate in 1.27-1.28 area.
Our trigger will be a bullish violation of a falling channel .
Target levels: 1.29/1.30
this is an update for my previous post on USDCAD .
Pair is currently entering the identified zone of demand
and we see a formation of a dodji candle in conjunction with oversold rsi .
for many sellers, it is a very important warning and I think that many of them
will close their selling positions.
The US Dollar has been gaining against the Japanese Yen since early this month. Figure 1 shows a 4 hourly candlestick chart. The uptrend maintained momentum and was relatively uninterrupted until a double top was put in place with highs on the 15th and 17th of this month, shown under the green arrows. A double top is an intrinsically bearish pattern and since its...
USDCHF has reached a decent zone of supply on 4H.
On 1H chart be focused on a rising channel and wait & sell its bearish breakout.
It will be a perfect confirmation signal.
Stop will be above the highest point of the flag.
Target levels are: 0.989 / 0.986
rising wedge formation on GBPUSD .
though the pair has broken below the support line of the wedge ,
I am paying close attention to 1.296 support of a narrow horizontal trading range.
I will sell the pair in case of bearish breakout of the range.
Target levels will be:
from august usdjpy is very bullish and last Friday pair has reached important decision zone.
109.0 structure level is significant for the market participants.
analysing the historical perspective we will immediately notice that this level
was respected by the market many times in the past and each and every...
this week is very very bullish for EURUSD .
If you analyze price action on a daily tf
you may notice than we haven't seen a pullback for quite a while.
Yesterdays, pair has reached key level of resistance 1.113 and, for now, buyers do not push the market higher.
I believe that there is a high chance to see a...
Hi, Traders ! Monfex is on the air !
GBP/USD can reach 1.30 already this week on a positive wave of a Brexit deal.
* During the past days, GBP has increased in value significantly ag USD against the background of improved outlook of a Brexit deal.
* There is the possibility that the UK government could start legal procedures to avoid asking for an extension...
descending triangle formation on AUDJPY.
Pay attention to a horizontal support of a triangle!
Bearish breakout of support is a signal to short the pair.
We don't know how long the pair will be trading within the triangle,
but when it breaks, set your stop above the last lower high!
target levels will be:
GBPAUD still respects the boundaries of the rising channel .
on Friday pair has reached 1.87 level.
what is interesting about this level is that
first of all, it matches perfectly with the rising resistance of the channel and
secondly, we see that in the past this level was respected by the market.
though this week was very bullish for EURUSD
I think that the market leaves clear clues that it is overbought and needs a pullback.
you can notice that on 4h chart we have a sequence of two rejection candles in conjunction with
RSI divergence and resistance of a rising channel .
For this reason, I think that...
yesterday we saw a very significant movement on GBPUSD
and the pair is very very close to a key supply zone .
I think that many traders will take profits inside this area and structure trades will open shorts.
For this reason, on my trading radar is 1.249 - 1.258 area of resistance.
I will be waiting for a...
Completed head and shoulders pattern formation on NZDUSD .
There is a high chance to see bullish continuation to higher levels of structure.
Now we are waiting for a bullish breakout of a neckline to buy the pair.
Target levels are based on structure:
T1 - 0.6380
T2 - 0.6335
Please, support idea with like. Thank you!)
descending triangle formation on EURCAD .
on focus is the horizontal support.
if bears break below it, most likely, selling volumes will increase and we will see bearish continuation to lower levels of structure.
T1 - 1.455
T2 - 1.451
Want to know where stop will be? Leave a comment :)
*remember, that the...
potential long trade on GBPJPY .
the market is approaching a key structure support level on daily.
for a confirmation, wait for a bullish breakout of a falling channel .
Target levels will be:
Monfex is at your service and today we overview EUR/USD.
EUR/USD still is in the downward channel and now the price has approached to the resistance line, and the MA100 also there. Enter a short position from resistance is a good practice.
The target for this idea is 1.08824
Stop lose for our short and buy price by the breakdown - 1.10231 with the...
EURCHF is standing on key structure resistance level.
Double top formation on a 1 hour chart is a very good indicator of a potential pullback from this level.
for confirmation, I am waiting for a bearish violation of minor support beneath the tops.
target levels will be 1.0915 and 1.088