Daily chart in an uptrend making higher highs and higher lows. 4hr chart has been working within the channel and weekly pullback looking for the market to resume the trend. If we see a double bottom we could look for a break and retest of structure to take this market higher.
As we discussed in our previous post EURO seems to be topping out as CANADIAN DOLLAR remains dominant against a number of currencies. Looking for further downside to come in this market. If price can continue to the downside and break the support level of 1.4444 this market has significant room to the downside.
Traders we have been watching EURUSD for a while as it struggles to break above its previous highs and is sitting within a weekly resistance zone. We are looking for a break below the daily lows for opportunities for a short position. Weekly chart suggests a weekly retracement could be playing out.
FOMC last week stated they expect to hike rates 1 more time this...
EUR USD spot 1.1476-80, there is clearly indicating in weekly chart market is forming triple bottom, and market 1.1450 after forming series of lower high, neckline at 1.1450-52, market tested this 2 times now it's highly expected it's break strongly ( not the false break) and again test 1.1450, then will higher up to the minimum objective 1.2450, almost 1000...
Inverse H&S pattern in play on daily time frame.
Looking at monthly time frame GBPUSD has done too much in to short a time i.e. seems oversold so this is likely to be the rebound
Although not shown on chart 38.2 fib level lies at approx 1.31
Entry is placed at the 1.264 which will likely occur on the next pullback following the break of the neckline
Short Bias - Price manages to break the bearish flag setup, confirming the 4 wave. Expected target would be for price to push into demand, supported by the Fib Extention of 50% thus completing the 5th wave.
The restriction of price movement is a strong indication of possible price breakout. Looking for possible short setup as indicated using the arrows on the chart. Definitely looking for price to break below 1.33679 level at which would indicate lower possible movements.
The New Zealand Dollar had a major downfall earlier this month, however price has built back up slowly but surely forming an uptrend. It has had two touches on the trendline that form a clean 'M' formation which I am looking to go short to complete. I am now waiting on a candlestick confirmation for pin-point entry.
Because it's still contained inside a bullish channel (red), we are expecting for the price to go up. It might target the 1270 area, which is the 100% equivalent of the previous uptrend. If in the event it will break outside the parallel line, the price may automatically go down.
Happy trading everyone!
Current decline we see suggests that EURUSD did topped at its 50% fibonacci correction. Price already broke past the yellow channel's outer boundary which means that the trend is bearish once again.
Happy trading everyone!
The anticipated corrective pullback is underway, with prices currently finding support at the 99.85, (50%) retracement of the Nov-Jan rally.
A short-term bounce is unfolding, as oversold daily studies unwind, with focus turning to the 101.73 high of 19 January. However, any tests are expected to prove difficult sustain, as weekly readings continue to...
Good evening traders,
Energy traders would have noticed the somewhat eery price action on oil prices recently. I believe that recently losses are attributed to:
- Emerging doubts over the degree of compliance with OPEC production cuts as Iraqi exports remain high;
- Concerns about the rate of market rebalancing;
- Rapid rebound in U.S. shale production following...