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
Though USDCAD is very chaotic in the last few days
yesterday we saw a very strong bullish impulse
breaking the resistance line of a falling channel and setting a new higher high higher close.
however, I am very very skeptical about further bullish continuation of the pair.
analyzing structure on 4H and daily...
The entire industrialized world is engaged in a form of economic warfare known as inflation .
The idea being that if you can make your currency less valuable it makes your export more attractive for the foreign nations than if your currency was more expensive. So this has to do with fluctuations in currency prices. What...
though many traders have already turned bullish on EURUSD ,
I will be more patient and wait for a bullish breakout of a 1.096 - 1.097 narrow neckline
of a classic head and shoulders pattern.
only then my bias will switch to bullish .
Target levels will be based on structure: 1.1 / 1.104
If the market sets a...
nzdusd is standing on a 6 years low on a weekly.
recent false breakout of a previous structure low on a daily leaves us clues
that bearish pressure is exhausted.
currently, the market is started to contract within a symmetrical triangle formation
- a clear indication of high indecision.
though according to a...
after a very good long trade that we have taken this week, it is time to adjust our trading plan.
Next week I will be paying close attention to a rising wedge pattern that can be easily identified on 1h and 4h charts.
On Friday the market has closed approaching a support line of the wedge .
Most likely buyers...
usdjpy has recently broken below a key support level on 4H,
quite quickly though the market has returned within the boundaries of a wide trading range 107.4 - 108.4
simultaneously braking the falling parallel channel .
now the lower boundary of the range will be again significant support for the buyers,