GBPUSD H4 - The big bearish H4 candle we saw yesterday was off the back of the USD data. A big move and excuse for some USD correction, big relief rally needed, but unlikely a trend changer, I think we can expect continuations of DXY and dollar weakness going forward this week, cable is a good example of a break and retest to set new highs and continue the bullish...
Gold H4 - This 1851 zone is the zone I'm more concerned with, the head and shoulders neckline isn't really something I'd go off, the 1851 zone has been test on the H4 previous circa 4 times, a break and retest of this zone downside could warrant shorts, if this current move fails to set news highs (right shoulder).
EURUSD H4 - USD on the backfoot yet once again, DXY analysis to follow. EUR seeing gains as you'd expect off the back of existing risk sentiment. Following each zone as they come and looking for respective confirmations/rejections.
As per the VN we are 'technically' bearish as we have a big selloff move $110 pulling downside, we also are trading below 1880, which is our resistance zone. Effectively a bearish flag pattern, and a bloody big one at that! The flag consolidation alone is 230 pips. With a target of 350 pips from 1880 to 1915 if we break upside. We haven't had much movement...
USDWTI H4 - Monster RR on this one if we can find resistance on the support zone we have just broken... WTI is more impulsive than confirmative, so often very fast moves are seen without 2 stage or multiple retests. 618 to 786 ties in nicely with corrective fibs from week open down to current price (resistance retest point).
AUDUSD H4 - Here is Aussie vs the dollar, again very similar structure to the above, 0.733 was the resistance zone in this occassion whereas 1.33 was cable resistance, regardless we are close to seeing a break and close on the H4. From this, we could look for entries around 0.7335 to jump in long after a correction, just cautious of the rally leg going in to break...
DXY H4 - We gapped downside, have yet to filled and we are seeing downside pressure on one of our final support zones at 92.20, could see a subsequent break and retest of support on DXY and break and retest of resistance on EURUSD from long potential, analysis to follow!
i'm sharing this screen, felling it's gonna be an intersting one,
at this technical analysis we still didn't get full confermation of a full break from the resistance line,
i'm only predecting the break out for many other reasons,
and let hope for the profits,
USDCHF D1 - Bit late to the part posting this, apologies. Very similar structure and paced moving pair here, DXY is at a key level to monitor, retesting after breaking upside of a trading zone, we covered all of this in the rundown, but take a look here too if you haven't got a chance to watch the video.
GBPCHF D1 - This is an absolute textbook example of trading between the zones using price action, GBPCHF generally deemed as a slower moving pair (confirmation can be seen). The only issue is, the confirmation candle was very large which skews RR a little bit. Risk markets are still in play which is dangerous too, but confluences all stacked here and the...
USDCHF D1 - Here is the update on USDCHF, the big daily resistance is approaching, we can see where the fundamental spike started, but are we going to exhaust where we would expect? Simple react to what we see unfold. These higher timeframes do a bit more time to unfold (for obvious reasons), but they do provide a bit more protection against false sense of confirmations.
EURGBP seems to be breaking out of key support levels, after putting on a regression channel you can see its broken out of a strong supportive trend line. Fundamentally, with Brexit being much in the air right now, we can expect a lot of volatility within this pair. However with the strength on other pairs and the bearish movement I will be looking at shorting...
GBPCHF H4 - Another CHF quote pair here, and again a very similar structure to USDCHF, sideways range bound setup. The easiest trades to quantify and identify. Don't fix it unless it's broken right? I was saying this last week, just need to be cautious of Brexit, EU/UK related headlines this week as always.
USDCHF D1 - Carried forward from last week, big daily S/R structure here, seen the downside break, looking for the subsequent retest and to find resistance at circa 0.90400. No stacked confluences here, just a simple break and retest of daily S/R, daily candlestick confirmation would be a must. Probably be more inclined to use this pair as a comparison pair, to...
EURAUD H1 - Bearish trend has broken the S/R zone, the existing H4 1.63 handle. Now seen the retest, looking for the hourly rejection to see another wave downside. Friday markets to take note of, seen some hard risk on moves already this week.
WTIUSD H1 - Western texas has been gaining since the start of the week, significantly, we have recently seen a double top exhaustion at a relevant resistance zone. We are now trading on support, further bearish pressure to break current price could see support turn to resistance and a s subsequent selloff to look to fill last Sundays market gap