The USDJPY pair is inside an Ascending Triangle on the 1D timeframe, supported by the 1D MA50 and with the technicals bullish (RSI = 59.741, MACD = 0.520, ADX = 20.018). The price is approaching R1 (138.215) and as long as it remains below it (while also the 1D RSI gets rejected on the 70.000 overbought level) we sell and target the HL of the Triangle (TP =...
GBPNZD is rebounding on the 1D MA50, at the bottom of the thee month Rising Megaphone pattern. That is a bullish signal, which is further empowered by the neutral 1D technicals (RSI = 53.906, MACD = 0.003, ADX = 31.776) and the fact that the 0.382 Fibonacci level is holding. As long as the price trades inside the Megaphone, we will be long, targeting the 2.0...
The AUDCHF pair is on a long term Channel Down that has just been rejected on the 1D MA50. The 1D technicals are marginally bearish (RSI = 44.758, MACD = -0.002, ADX = 32.406) meaning that this is still a sell opportunity in its early stages. As in December, target the LL line (TP = 0.580000). ## If you like our free content follow our profile to get more daily...
The EURAUD pair is on a strong green 1D candle today, turning 1D technicals neutral again (RSI = 48.319, MACD = 0.001, ADX = 27.956) after the 1D RSI rebounded from a 42.000 three month low yesterday. It did so after crossing under the 1D MA50 for the first time in 2.5 months. As long as S1 holds, we see a lengthy (even 1 month) support formation, inside a long...
The AUDNZD pair got rejected on the 1D MA50 turning the 1D technicals bearish (RSI = 42.793, MACD = -0.002, ADX = 30.864) for the first time in a month. The price got also rejected on the 1D MA200 and the LH trendline on April 21st, which started the current bearish leg. This may give a rise to a Channel Down. We are short, targeting the HL trendline (TP =...
The AUDCAD pair is on the 1D MA50 for the third successive day, which is also the top of the Channel Down pattern. The 1D technicals have turned neutral (RSI = 52.833, MACD = -0.001, ADX = 23.757), indicating that this is technically a firm sell entry. We will use this opportunity to short and target the S3 (TP = 0.88650) as all the Higher Lows of the uptrend...
EURCAD is on a very consistent bullish pattern since February giving low risk buy signals on the HL trendline and sell signals on the HH trendline. This is well illustrated by the bullish technicals on the 1D time-frame (RSI = 63.779, MACD = 0.009, ADX = 34.173). The price is currently on the final bullish wave to the HH trendline, and we will stay long with TP =...
EURUSD held this week the Channel Up pattern of March and remains on bullish technicals across the 1D timeframe (RSI = 60.701, MACD = 0.006, ADX = 39.732). As long as S1 holds, we expect a break of R1 and a new Higher High for the Channel Up on the 1.618 Fibonacci (TP = 1.11800). If however S1 breaks, we will switch to selling and target S2 and the 1D MA50 near S3...
CHFJPY is an almost overbought 1D technicals (RSI = 69.922, MACD = 1.670, ADX = 65.369), rising non-stop since March 20th inside this 1 year Channel Up. The pattern is much like the June 29th 2022 top that after almost hitting Fibonacci 2.0, it pulled back to the 1D MA50 and resumed the rise to Fibonacci 2.618. Consequently, we are selling this pullback and once...
GBPJPY crossed under the 4hour MA50 for the second time in 4 days. Based on the 4hour RSI, it is similar to the February 28th top inside the long term Channel Up. Sell and target 164.250, potentially a contact with the 4hour MA200. Previous chart: Follow us, like the idea and leave a comment below!!
USDJPY is forming a Head and Shoulders pattern right on the 0.618 Fibonacci level. That, along with the 1day MA200 which had the last major rejection (March 8th) are the ideal sell entries. Target Support A (129.700) on the short term. The long term target can be much greater. Previous chart: Follow us, like the idea and leave a comment below!!
W Formation formed on the Currency Pair. We had strong signs from the indicators including 7>21>200 - Bullish RSI>50 (Higher Lows) Target 157.57 As there is high volatility in the market (with whipsawed wicks), it's for this reason we would place the stop loss below the second Ronding Bottom. SMC Also below the 2nd RB is a Sell SIde Liquidity Order Block,...
The GBPJPY pair has been trading inside a Channel Up pattern for the majority of the year and with the price now on its top, the 1D technicals are naturally bullish (RSI = 65.660, MACD = 1.070, ADX = 50.539). A Golden Cross will be formed by next week and just as the Death Cross was on a bottom on Jan 17th, the Golden Cross can be the Channel's new Higher High...
The GBPUSD pair crossed over the Resistance level that was in place since December 14th with the 1D technicals displaying healthy bullish numbers (RSI = 65.308, MACD = 0.009, ADX = 28.394). The 1D RSI is rebounding on the former LH trendline and this is an indication that the current rise can extend more. The R1 Zone is the next Resistance and is where we expect...
The NZDUSD pair is under the MA50 (4h) and about to complete a Head and Shoulders pattern. A break under Support (1) would accelerate what is already a strong sell signal. Trading Plan: 1. Use split lot. Sell half on the current market price and the rest if/ when the RSI hits its Resistance. Targets: 1. 0.6100 (over Support 2). Tips: 1. The MACD (4h) completed...
The USDJPY pair is inside an Ascending Triangle on the 1D timeframe, around the 1D MA50 and with the technicals basically neutral (RSI = 56.011, MACD = -0.010, ADX = 22.352). Our trading plan is simple. Sell on the 1D MA200 and target the HL of the Triangle (TO = 132.000). Buy above the R1 and target the R2 (TP = 142.250). If we close under the HL of the Triangle,...
The AUDCHF pair is trading inside a nearly 1 year Channel Down, with the 1D technicals obviously bearish (RSI = 35.683, MACD = -0.006, ADX = 40.124). We will trade according to whether the LL trendline holds or breaks. If it breaks, we will sell and target the bottom of the Channel Down (TP = 0.58000). If it holds, we will buy and target the 1D MA200 (TP =...
The EURUSD pair is in the process of completing a Head and Shoulders pattern with the 4H technicals neutral (RSI = 51.260, MACD = 0.000, ADX = 33.876) on the Right Shoulder. The 4H RSI is under an HL trendline, which keeps it bearish short term, while having crossed under its HL trendline yesterday. The target of the Head and Shoulders can go as low as the 2.0...