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...
GBPJPY SUPPLY AND DEMAND ANALYSIS/KEY LEVEL INTRADAY POSITION. We have some nice range going on with GBPJPY this week. Once price breaks out of the key level we can easily enter on the retest of it for an intraday position. This can be done on the m30 or m15 or even m5.
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
EURAUD H1 - More of a diagram than a technical analysis piece! But this is something we would typically be looking for, a break of structure, a break of sequence, everything is sequential, and a break (reversal) and retest (confirmation) is required to get on board in the change of sentiment!
EURAUD H4 - Broken below support at 1.65, sold off towards 1.63250 and retesting 1.65 again, zones holding nicely, pushing up to 1.65500 and rejecting could be going. This could show us trading back between major resistance and major support. This range covers circa pips, and was a lucrative trading range for some time before the upside breakout towards the latter...
USDCHF H4 - Major support and resistance range marked on showing a 180 pip potential, please listen to the above voice note, we don't want to be caught on the wrong side of big fundamental moves! Try and work from higher timeframes if you're comfortable as this would allow breathing space for intraday highs and lows, effectively meaning we can ride some of the...
Levels I'm currently looking at and what id like to see:
- Bullish push to the recent highs then look for evidence to go short.
- Or a break of the current trendline and then a retest of that trendline for a trend continuation to the downside.
- Only looking for shorts (for now) as the higher timeframes are showing bearish price action.
You can have two pending orders, a "Buy Stop" and a "Sell Limit" so either way you can get in on the right side and catch the momentum of the market. Once an order has been triggered then cancel the other. Be cautious of the London/New york crossover sessions.
USDCHF H4 - Quite a clean S/R range with an interim S/R zone where we have seen a 2 stage reversal, we've continued to set new highs, looking for price to see a test of major resistance if these USD risk markets keep pushing up. YEN is still seeing strength and DXY is now trading above that 93.30 zone after retesting effectively as support.
DXY H4 - Resistance zone has now been turned to support after breaking and retesting. New highs required to maintain upside momentum. Trying to follow YEN and USD strength in line with market risk. For example, minor bounce on EJ (Yen relief) but soon to be reversing downside once again as EUR/LON market volume resumes.
EURJPY H4 - Little bit of a relief rally yesterday from our identified support zone, recent H4 candle has closed to break support, potential rejection of weekly key level and retest of that broken zone before possible short continuations, simply support turned to resistance. Very similar to DXY where resistance turned to support.