I have been following GBPUSD's recent decline from the 1.38000 level over the past few weeks across various intra day positions. I am anticipating price to fall further toward the September low at the 1.34000 psychological, which is also it's lowest price since December 2020. I have entered another short position today following the retest of the 1.36 level,...
Haven't published on here in a while! Here's a simple set up on GBPAUD with lots of confluence pointing to a reversal. Here we see price rejecting both the 100 and 200 H4 averages at a significant area of support-resistance. The last H4 doji closure implies a bearish reversal, in which i expect price to fall to test the 1.86 psychological support level....
Buy Setup Based on Psychological (Round Numbers) Levels Strategy
Here we have the 153.000 psychological level holding as resistance on GBPJPY, from which I anticipate price to sell off from. I am mindful of a potential counter trend bounce, however if this area if broken we could see a drop to the highlighted target region of 131.500 This set up offers a nice risk:reward ratio with just a 40 pip stop above the key level....
Here we can see Cable trading in a range, the topside 1.40. Previously, we've seen price tag and turn at 1.40 with sellers sitting at this whole psychological level! Often you will find support and resistance levels coinciding with key psychological whole levels in the markets. Do some research and see for yourself!
The 1.20 psychological level is highlighted here as a significant area of support turned resistance, and although EU has been uptrending through April so far, price again appears unable to recapture the level. I expect another push down from the zone in line with the daily descending trendline. 1.186 appears to be an appropriate first target area, let's see how...
We saw some bearish movement on GBPAUD yesterday however it appears a weak AUD caused a bullish reversal in the pair overnight. (I am currently in UAE timezone) At the time of writing, the London session has just begun & we see price action indicating that another move down may be imminent. I observe a bearish doji followed by what appears so far to be an...
GBPUSD in a significant uptrend, with the pound showing strength today across the board. D1 timeframe illustrates the overall bullishness more obviously. Price has managed to close above the H1 100 and EMA, and so 1.4000 seems reasonable to reach at some point today. As illustrated on the chart, the 1.4000 psychological level is acting as a noticeable area of...
USD/CHF - Daily Chart - Our blue daily key level is market at 0.9000 whole level. We're expecting price to break our current 4 hr level during next week and rally up to test our blue highlighted level. The green arrow shows the potential price path the pair could make in the longer term.
I have been waiting on this set up for a while now so I'm hoping the wait will have been worth it! Current market price at time of writing is 1.19450. Huge swing trade set up here on EURUSD. Price has been so bullish over the last week due to USD's weakness and I did anticipate it reaching the yearly high at the 1.20 psychological level (2020's highest price.)...
D1 - Price has broken above the psychological level 0.68 and is holding above it. Expecting the price to continue higher further. H4 - Price has broken above the alternative trend line. Until the strong support zone holds my view remains bullish here.
A head and shoulders pattern appears to have formed on the EUR/USD H1 timeframe. (Illustrated with L/H/R annotations) The neckline of this pattern rests on the 1.18 psychological level. I believe, upon breaking this we should see a push down to the July-November swing low at around the 1.16 psychological level. EURUSD appears to be respecting these levels very...
Welcome back traders. Share My Analysis If You Agree :) Despite the big push to hell, Gold has been consolidating all week. Price found a strong level of support near $1875, which just so happens to be a key psychological level. A correction has to be made before another push to the downside. I predict a rally towards $1895 following a breakout of the zone...
EURUSD is currently extremely bearish. From a fundamental perspective the rising Covid cases in the Eurozone are weighing heavily on the Euro, which can be observed across most EUR pairs. Technically on EURUSD here we have a broken head and shoulders neckline in addition to a break of the 1.17000 psychological level. The next support zone on EU is around the...
Still Bearish on USDCAD Price has broken the uptrend and we may see a move back down to retest the previous resistance area at around the 1.32000 psychological level. 60+ potential pips!
By observing the D1 TF we can see EURUSD appearing to stall around the 1.20 psychological level. Yesterday's daily closure showed a lovely wick rejection also. EURUSD has been uptrending for some time and we may witness a correction to the previous D1 resistance. 400+ pips potential on this longer term trade.
USDJPY appearing to come to a halt at the 107.000 psychological level/reversal zone. Price appears to be breaking the recent uptrend and I believe we will see a further decline down to the July low at around the 104.100 area. The price action on the Daily timeframe also shows significant indication of a reversal (yesterdays spinning top closure)