FX:EURJPY The rate is currently testing some interesting former support levels which should now become the new resistance - Already confirmed polarity change area (the yellow rectangle) 120.20 - 120.55 4-month long broken rising trendline support The lower parallel of the broken falling channel (black dotted line) I am looking for a strong...
FX:AUDNZD The rate has finally climbed up to test the massive inverse head and shoulders pattern neckline at 1.0770. At the moment I expect bears to push the price lower to confirm the neckline resistance, however, I will be looking for an upside break and daily close above to enter a smaller long position and wait for a retest if the old resistance becomes the...
FX:GBPAUD The rate has broken down from a short term symmetrical triangle formation. I am now looking for a pullback towards the former support in the 1.6400-1.6430 area which should now become resistance and will enter a new short position if we see strong rejection there. The immediate target should be the 3-month-long rising trendline support around...
OANDA:XAUUSD The price broke through the major psychological resistance at 1,200, which was also a major polarity change as the old support/new resistance, and right after the break it has been stalling just above this level forming something of a double top. I am looking at this as a bull flag at the moment as long as we are trading above the rising trendline...
FX:AUDUSD Similarly as NZD/USD the aussie is testing a major resistance - the old former falling channel support as the new resistance which has proven to hold the rate since the start of 2015. At the moment I am looking at this as a symmetrical triangle formation and the next move will depend on how the rate reacts to the current levels. For a new long...
FX:AUDUSD AUD/USD DAILY The rate broke the gap resistance yesterday and is now testing the 3-month falling trendline and former support level at 0.7330. It came within 10 pips of stop loss, but I am still holding the positions and will be looking to scale in the trade. My bias is still lower, however I am will be waiting for today's NFP figures before...
FX:USDCAD The rate has broken the 2016 falling trendline and is now testing it as the new support. As it has formed a hammer at the former resistance and we are still trading within the rising channel I am more bullish here as long as we are trading above the former trendline. The immediate attention should be turned to the 1.3575 level as the rate seems to...
FX:AUDUSD The rate is currently pulling back higher to test the former support new resistance zone at 0.7280-0.7300 which is also a falling breakaway gap resistance from December. I am looking for a short entry, preferably somewhere around the falling trendline resistance (black) from November. Take a look at my video about weekly set-ups here
FX:NZDUSD The rate is currently testing the former broken falling channel support as the new resistance. I am looking for a strong rejection lower to enter new short position on the larger head and shoulders pattern trade idea . I would like to see a bit deeper retracement higher for the rate to test the neckline of the head and shoulders pattern around 0.6960...
FX:GBPNZD This one is has been in a free fall ever since the Brexit vote. It has broken every possible support and is trading at all time lows. For the next year I really don’t see anything good for pound so I am only looking for a downside continuation, the only question is where to sell... One possibility is the former channel support as the new...