We have been bullish on the USD for some time now.
We've seen a break of our ascending channel and key level in the market in the latest bearish 4HR.
Right now we're seeing some rejection of 1.38.
Be careful trading this market today with NFP figures out!
We're currently at 1.37 once again. We tested this level yesterday and saw a strong bearish bounce off the level. Will we break this level today?
In yellow highlighted circles we can see all the previous tests of 1.37 and strong bearish rejections. This is combining a key level in the market with a whole psychological level that often acts as additional support...
NZD/USD - 4HR
I appreciate there is a lot going on in this piece of analysis here. If you don't understand, private message me and I can break it down for you!
We can see a break of structure, push to the downside and a bearish retest of a key level in the market - our sell confirmation.
Happy Trading. Stay tuned for more analysis
EUR/NZD Analysis on the 4 hour chart.
Price has hit a key level coinciding with our top descending channel trendline. We have seen some sharp rejection off this level. Check out how simple it is to find key structure levels in the market!
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Happy Trading!
Good Day Traders, I hope all is well.
These are my thoughts for GBP/CAD.
After a strong and lengthy downtrend price has begun to exhaust and has found a strong level of support. The market is creating a series of downside wick rejections on the 1hr and 4hr timeframe , indicating strong buy pressure.
Advice:
Stop trying to always being right. I myself have lost...
Attention Traders!
Allow me to share my thoughts on GBP/JPY.
Price is now at a strong level of support (on the 4hr timeframe). If price doesnt break this level immediantly and find a new low , i expect the markets to start pushing up again. Its been a slow week so far , but grateful for the lessons.
Advice
"Less is more"
#Forexprodigy
Fellow Traders! I have spotted a potential trading opportunity, GBP/USD (LONG)
ANALYSIS:
Consolidation & Bullish Breakthrough
Resistance at a key support level
Rejection At Fib Level 61.80
Previous Strong Bullish Momentum
As it rejects the Elliott Correlation wave, we expect to touch the support before going up.
Open Short = 9750-9850
Stop Loss = 9978
Targets = 9680, 9570, 9630, 9420, 9280
Leverage cross maximum of 2% investment.
USDCAD has reached the 1.38600 support zone and is showing signs of rejection. If bullish candle closures remain then I can see buying at these levels should prove profitable.
There is a 1hr bearish trend in play (trendline shown) so watch for price reactions there. If that TL breaks to the upside then 1.40200 and even 1.42500 could be achieved.
The dollar us...
been rejecting trend line consistently as it broke the uptrend and created the down trend rejecting of multiple spots to create the down trend , looking to take this the bottom trend line to create the 3rd touch .
Looking at my previous EU sell which went as expected and fell past the target 2, having seen that the price has several times retested and failed to break the ascending trendline.
I would be looking at some further downside potential on this pair, hopefully down to my original target 3 area.
Several rejections of the yellow resistance area, rejections of the descending trendline and 200sma. Lines up perfectly with the 'golden pocket' area of the fibonacci.
EURCHF analysis looking very strong indeed, currently consolidating around the exact zone where we've seen a ridiculous amount of market reversals, due to the current levelling rejecting its 3 year low along with a nice bullish engulfing candle its showing to be a great sign for a buy
