We are looking at the setup on Euro versus US dollar with the pair having run up over 200 pips since last Tuesday and now looking overbought short term as it reaches resistance levels just short of 1.14. We are therefore looking for Euro to pull back lower and retest support levels in low 1.13 area
We have highlighted both overbought levels...
Overnight we had the Australian central bank cut interest rates as expected by the market and they also indicated that they were "one and done" for the time being which lead to Aussie dollar rallying overnight to the top of the descending channel highlighted in our tradingview chart.
At the same time we have the spike higher meeting an area of...
Looking to enter a short trade on New Zealand Dollar versus US dollar after the pair have failed on numerous occasions to breach resistance just under 1.06.
Add to this that the pair is extremely overbought on stochastic and the price patterns pointing to a move lower as per out trading view charts.
Clean simple trade with a the ability to...
Looking at Euro versus New Zealand dollar which is flagging up as extremely overbought on daily stochastics and RSI after moving another 50 pips higher overnight. On our trading view chart we have drilled down to 4 hourly candles to highlight the pair is hitting resistance levels dating back to January which had already been tested at the start...
Good morning traders,
Looking at gold versus US dolllar here after the weekend news of Trump looking to escalate trade tensions with China, completely against what the business media had been suggesting last week of a deal being finalised this week. Fake news it appears! Needless to say markets were risk off and gold has spiked back up to resistance levels around...
New day but similar story across multiple G10 forex pairs with many at extreme oversold levels whilst at resistance levels and the market questioning if the moves continue or we see a reversal. One such pair is British Pound versus Australian Dollar.
We had entered this pair yesterday but poor data out overnight on Australian building permits...
We have been watching US dollar versus Swiss Franc for sometime and even been burned on a prior short as the pair has continued to trade deeper and deeper into overbought territory over the past couple of weeks. But the market appears to be finally turning lower with the past 5 days trading sideways to lower as volumes have dried up and the...
This morning we have had the Swedish central bank come out and delay interest rate rises with market now pricing no rise until early 2020 (from mid 2019). This has had a secondary effect on the Norwegian Krona leading to a 700 pips drop versus the Euro. We are looking to capitalise on this move into extreme overbought territory and looking for...
Looking at a short setup on Euro versus Australian dollar after last nights inflation data out of Australia coming in at 1.3% versus 1.5% expectation leading to a 140 pip spike higher in this pair. The miss on inflation suggests, in simple terms, points to slowing growth and creates a lower expectation of the Australian central bank raising...
Divergence is one of the best technical analysis theories. Although not 100%, a very high probability of profitability is well known.
This idea lists most of the instances of divergence on BTCUSD (Coinbase) since $19892 summit of December 2017 on 2H interval.
9 Seasons Rainbow Multiple Time Frames Pattern PRO
Base Time Frame: 2H,...
RSI bearish divergence illustrates price exhaustion, bearish reversal.
Strong resistance around 1.3000 psychological level .
Rejected 50 EMA on the daily timeframe.
Consolidation of price since reaching this upper end of the downwards parallel channel.
100 pips target 50 pips stop.
The daily graph is showing something completely different to the weekly, the daily graph is showing that the price may not be able to breakout this triangle on this attempt. This can be seen by the overbought signal that is being seen as the price gets closer and closer to the resistance level of the triangle. I would keep everyone updated on any signals that I am...
I've been watching this and the DXY lately and now the gbp has reached overbought levels via the RSI indicator, i know its not set in stone but its a good indication to start looking for short entry points for the cable. Big important news today could support this further and strengthen the us dollar.
UK100 is at the moment touching the strongest 7600 resistance line. There are now 2 topping tail which indicates rejection of closing the price higher. Also RSI(14) is currently nearing the overbought territory. If price can close around 7570 level, I'm planning to short it with profit target is somewhere around 7445, which is the previous strong support line.