Price is at a key level and could be forming a double bottom. The level has already been tagged and rejected and now price is forming a lower time frame structure. There is potential for price to move up to the beginning of structure which is also a recent high.
These are the two most probable scenarios to play out this week. Price is heading toward a key level and will soon find out whether price breaks or bounces from the level. We will wait for price action to develop a bit more.
I have been watching the kiwi for weeks now and price action has just been developing. Price is at key level of value, similar to NZD/USD so I will be watching to see how the NZD pairs perform this week. Price has formed a channel and now we have touched the top there is a possibility for price to move to the downside. For the longer term play I would be looking...
- LARGER BULLISH CHANNEL W/ PRICE ON 1/4 AREA
- SMALLER BEARISH CHANNEL W/ PRICE AROUND 1/3 AREA
- SIGNIFICANT NUMBER
- 71% + 50% FIBONACCI RETRACEMENT
**THIS ANALYSIS IS CONDUCTED AFTER CORRELATION ANALYSIS OF OTHER MARKETS IS CONDUCTED**
**ADDITIONAL RISK AGAINST LONGER TERM HTF BIAS**
It is possible that EURGBP will continue its H4 downtrend to the lower support zone (around 0.888). The market is making lower highs and lower lows which is by definition a downtrend. A medium-to-large sized bearish candle closing below 0.89377 will be the signal to place a SELL on this currency pair with a stop loss placed just above the previous high (SL =...
Here we have a possible head and shoulders pattern forming on the H4 charts. The long wicked bullish candle on the right shoulder shows how price attempted to climb but struggled to even get past the left shoulder's high. Ultimately it formed a shooting star which is a good indication of a price reversal. A SELL order can be placed when the market opens providing...
Here we can see that CADCHF is in a clear H4 support zone. Trades can always be found at H4 support/resistance zones providing you use price action. As we can see price recently pushed down to 0.69020 but buying pressure caused the price to close within the support zone. This was then followed by a bullish candle. We need more confirmation here that price will...
USDCAD is forming an inverted expanding triangle on 4H.
the price respects a horizontal 1.361 4H structure support with equal highs, setting new lower lows after each test.
yesterday the above-mentioned structure was reached again.
the price has formed a bearish engulfing candle and was rejected.
on 1H the price has...
Crude oil reached a current structure high yesterday.
Bears started to push during the US session but were immediately rejected on 4H.
it looks like bulls are preparing for a continuation.
next week pay attention to 39.9 - 40.5 structure resistance area.
if bulls manage to break and close above that then we...
A great example with these stats on AUDUSD....
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Direction: - The pair approached the end of a Bearish Cycle which may continue on the H4 time-frame, but on the H1 time-frame a reversal off bottom of level was due.
- The pair was expected to enter a Bullish Cycle on the H1 time-frame now.
- A multi-session W (Double-Bottom) pattern formed on the H1, giving us the direction, and also failed to take...