We have multiple indicators lining up to suggest US dollar versus Japanese Yen price action is about to head lower towards low 107 area.
Firsly we have a descending trendline that we have highlighted on our trading view chart coming from 109 area on 10th of July and being tapped twice overnight at low 108s before pulling back to 107.85 area. ...
Should be interesting to see where price starts as the markets open back up again. My predictions are that this pair will continue on the downside and could be quite a smooth and big move. GBP corrected its price on most pairs last week and now sits nicely to continue with its downtrend as the buyers appear to have lost their strength.
Looking for a bounce off...
Predicting a short movement on AUDNZD.
This is a more long term trade with a larger R/R. The 382 fib was respected well from the 24th of June 19 and the 5th of July 19 and I normally like to trade off the second touch of it as I believe it holds some weight.
NZD was not strong enough to push past the red zone highlighted on the last occasion, however news from...
We have various indicators of a reversal:
• Divergence in play
• Potential reversal channel in line with the divergence
• 200 EMA acting as our resistance in target area
• Price level 1.30750-1.3000 has been a key Support/Resistance level since 2016
• Oil prices looking bearish which influences the value of CAD
• NFP positive speculation for the USD...
Something like this, can you see I have a stop below the antipcated potential RT of the Lows (the "Potential" harmonic pattern outlined in previous post). If price breaches below that level with a close and bearish strcuturee then the long setup will have to be re-evaluated if the bias is still there. (See related Posts below)
Monday afternoon and we are looking at the 130 pip run up in Euro versus Japanese Yen since early morning Friday taking this pair up to resistance around 122.4 area where the pair are running out of steam and turning over on stochastic indicators.
Our trading view chart highlights the relevant support and resistance levels for this pair which...
Morning again traders,
Looking at a short term trade on Gold versus US dollar after formation of a bearish candle pattern on the 2 hourly Advance and a Bearish Harami on the 4 hourly both of which point to price action moving lower over the remainder of today.
Looking for a move back down to support levels around 1389 over the coming hours as per our hourly...
I'm stalking a bullish rebellion into a sharp ATR switch for the south, on an 8H time frame. If there is a reversal is may happen on a 15 min time frame. In this screencast, I explore the price action and envelopes of probability.