A double top formation seems to be forming, so I will be looking for reversal patterns to form around the 61.8-78.6 region before going Short or even a break of the 2hr CTL. The previous setup was invalidated as there was no reversal pattern. Keep an eye out on the DXY.
I will be looking for shorts if a reversal pattern does occur at 1.6350 and the Daily CTL (Counter-Trend Line). However, if we do break above 1.6350 I will be looking for a pull back into 1.6350 before going long.
Afternoon traders,
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
Follow us on tradingview under forexTrdr to get...
We might feel that as the 30min chart is bit weakening in the EURUSD counter part ,it might come down.
It is not the actual case!
The price may bit come down until 1.13200 below to this there is no down as of now possible.
EURUSD has stong up line hence after this point reversal price will quickly jump to reach 1.3500 and 1.3600 level.
LongbuyLongSellindicator...
Morning traders,
Looking to take advantage of the weakness in Aussie dollar overnight which took GBP AUD higher providing a great entry point for shorting British Pound against Aussie dollar. Our chart on trading view highlights the levels of overbought status on both RSI and Stochastics which have previously led to a move lower and the chart work also highlights...
GBPJPY have come out of the Downtrend Zone .
Volume are gaining the momentum.
SAR become Positive
Price started holding HH after the reversal from LL.
As per the LongBuyLongSellIndicator in the many of the timeframe the price is in postive longside.
Also the trend in up side ,Soon we will get the 138.100 price range as per the chart.
Do your own analysis... if...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=136.55.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=137.5.
TP4: R2=137.8.
Set the stoploss of these orders at breakout of S2=136.35.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
I will be looking for reversals to form around 1347-1350 for a potential short. I do see Gold making a retracement to the 61.8-78.6 fib region or make it's way back down to 1275 for a swing higher.
So for potential targets
Target 1: 61.8 Fib
Final Target: 1275.000 (If there is a Weekly Closure below 1275 I will continue to hold).
If I do see any reversal...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.1185.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.122.
TP4: R2=1.124.
Set the stoploss of these orders at breakout of S2=1.1175.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
Afternoon traders,
We hope you are enjoying the long bank holiday weekend with both UK and US markets closed on Monday we would expect a slow start to the trading week with Monday being somewhat non-existent in terms of volumes and volatility. For this weeks SundaySetups we have taken a look at Gold versus US dollar.
On our trading view 4 hourly chart you can...
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