Hi Traders!
A head-and-shoulders pattern is forming on the AUDUSD 1D chart.
Here are the details:
The market has found strong support at the 0.65255 level, which is the neckline. The right shoulder is currently forming, and we expect some consolidation around this level before a possible break and close below the neckline.
The plan here is to monitor both the...
Hi Traders!
A falling wedge is forming on the EURUSD 4H chart, and we could have a breakout soon.
Here are the details:
The market has found support and resistance at both the trendline support and trendline resistance of the wedge, as the market is looking for a direction.
Looking at the price action, it looks bullish; we have had multiple tests at the...
Hi Traders!
A symmetrical triangle is forming on the GBPUSD 4H chart, and we could have a breakout soon.
Here are the details:
The market has found support and resistance at both the trendline support and trendline resistance of the triangle, as the market is looking for a direction.
Looking at the price action, it looks bearish; we have had multiple tests at...
Hi Traders!
There is a triangle pattern on the USDCAD 4H chart ahead of the Bank of Canada (BoC) Monetary Policy Report, Rate Decision, and press conference.
Here are the details:
The price action looks bullish due to US dollar strength, and the market is currently in a consolidation phase in the triangle.
Depending on what we get later from the Bank of...
Hi Traders!
There is a bear flag pattern on the EURUSD 4H chart.
Here are the details:
The price action looks bearish, and the market is currently in a consolidation phase in the flag's channel. The 20 EMA has been broken, and we are getting bearish momentum candles forming, and we are awaiting a possible test of the flag's channel to the downside.
Preferred...
Hi Traders!
There is some bullish momentum behind GBPUSD, and there may be a possibility of a re-test of the monthly high.
Here are the details:
The price action on the 1D chart looks bullish. The market is in an ascending price channel with higher market swings and lower rejection price wicks; the market is also currently above the 20 EMA.
Preferred...
Hi Traders!
USDJPY is approaching the 150.00 psychological level for the first time this year as the US dollar's strength continues.
Here are the details:
The trendline support on the 1W timeframe has held perfectly, and the market swings with higer highs and higher lows continues. The market has also broken above the 20 EMA this week, and we are looking for a...
Hi Traders!
EURUSD has had double price rejection at the resistance, and there are shorting opportunities near the resistance to target support levels below.
Here are the details:
There is double price rejection at the 1.09986 level, which tells us that bearish demand is currently too strong in this area.
We are looking for a momentum price break and a close...
Hi Traders!
USDJPY is under more pressure as we head into the final trading days of the year.
Here are the details:
The price action here on the 4H chart is extremely bearish. The 20 EMA has been broken, the market swings are getting lower and lower without any bullish pullbacks suggests that there are hardly any bulls in the market at this current time.
We...
Hi Traders!
EURUSD has broken above its ascending triangle on the 4H chart, and the price action looks bullish as it looks to finish the year off strong.
Here are the details:
The trendline resistance at 1.10094 has been broken, which tells us that the market is looking to test prices to the upside. The strategy that we are looking to implement is to buy the...
Hi Traders!
Today is a big day for the USDCAD, and the pair is approaching its yearly high at 1.38623, but before that, the monthly high resistance at 1.37858 must be broken.
Price Action 📊
The market has broken its trendline resistance and is near the monthly high at 1.37858. There is bullish momentum due to the anticipation of hawkish statements from the...
1st December! An interesting month for sure.
Technicals for Euro shorter term view clean levels ahead that it could head towards either direction.
(Disclaimer: Just a trade idea, not financial advice)
Force Vector Technology
has an uncanny highly predictive nature where the interstitial buying and selling force vectors produce a resultant vector that points into the direction the market will move in the near future.
Potential short trade on USD/JPY breakout bounce off of the resistance wick. Strong downside momentum after relief bounce as indicated by a...
EUR/USD - Where to? Long term outlook.
If we pass this key trendline down in yellow. We could head to bullish momentum - However, we may get a pull back or may trade wise until then. long term outlook if it does go above trendline we will head to 1.18/1.20 areas.
Below trend-line (Pull back areas - 1.15 areas)
Just a trade idea, not recommendation!
The FX majors stretched into 2020 firm, spelling a strong term against a weaker #dollar!
Will this continue being the case though when uncertainty around #tradewar and #Brexit remain elevated?
Take a peek at our #elliottwave analysis for some technical insight at least.
Timestamps
EURUSD 1H 01:45
USDJPY 1H 03:30
GBPUSD 1H 05:50
Trade safe
Stavros...
In today’s #marketinsights video recording, I talk about EURUSD and USDJPY FX Majors
Both major pairs were affected by incoming trade war flows, following China's rather pessimistic view on proceeding with a phase-1 of a potential trade deal.
Euro could move towards 1.11 round resistance and yen could push the dollar down near the 108 round support.
The above...
In today’s #marketinsights video recording, I talk about NZDUSD and USDJPY FX Majors
Not only markets expected with 80% chance that RBNZ will cut rates which they never got, but the central bank also said that kiwi is expected to be supported in the medium term by the low exchange and interest rates.
USDJPY on the other hand, remained somewhat muted as Trump...
