though this week was very bullish for EURUSD
I think that the market leaves clear clues that it is overbought and needs a pullback.
you can notice that on 4h chart we have a sequence of two rejection candles in conjunction with
RSI divergence and resistance of a rising channel .
For this reason, I think that...
after a very strong selloff SPY has retraced and currently, the market is approaching a key level of resistance on daily.
On 1H chart the market is consolidating and coiling within a narrow trading range.
If bears break below the range, for us it will be a perfect signal of a bearish continuation and...
dollar index has finally reached a resistance line of a rising channel on daily.
there is a high chance to see a strong bearish wave but
for confirmation, we are waiting for a bearish violation of a rising wedge pattern
within the channel.
Target level will be based on horizontal structure and support of the channel -...
this is the update for my previous trading plan on EURGBP .
The lower boundary of a flag has been adjusted.
After multiple attempts to break above the 0.892 level the market is still standing below the identified resistance.
My bias remains bearish and I am waiting for a bearish violation of a flag.
Targets have been also...
EURGBP is currently trading within the rising parallel channel .
What is worth paying our attention to is recent rejection from 0.893.
It looks like sellers accumulate their selling positions around this level.
based on this observation and horizontal structure on the left I have
identified a potential...
on USDCAD there is a high chance to see a bearish continuation
after a pullback from 1.318 level.
the price has recently reached 1.324 level - significant level of resistance.
and we see a dodji formation and clear rejection.
target levels are:
T1 - 1.3205
T2 - 1.3180
Stop - 1.325
USDCAD remains bearish .
You can see that the market one more time has respected a falling resistance of the channel.
Our bias is bearish and our next mid-term target is 1.3 structure support level.
Strong selloff that we saw on Friday will most likely trigger more selling volumes and
after a small pullback, selling...
Monfex is at your service and today we overview USD/CAD.
USD/CAD near 2 years support line, possible a good moment for long position.
Active Trade Signal by USD/CAD
Buy near 1,318
Take profit ~ 1,378
Stop at 1,31147
Share your thoughts, ideas about the market under the chart.
Watch for our Updates to be the first who gets well-timed signals...
yesterday we saw a very significant movement on GBPUSD
and the pair is very very close to a key supply zone .
I think that many traders will take profits inside this area and structure trades will open shorts.
For this reason, on my trading radar is 1.249 - 1.258 area of resistance.
I will be waiting for a...
Completed head and shoulders pattern formation on NZDUSD .
There is a high chance to see bullish continuation to higher levels of structure.
Now we are waiting for a bullish breakout of a neckline to buy the pair.
Target levels are based on structure:
T1 - 0.6380
T2 - 0.6335
Please, support idea with like. Thank you!)
Looking to SELL GBPUSD in SELL AREA and to close position in TP AREAS. (30+ PIPS, Potential 120PIPS SWING)
- Do not enter on strong bullish breakthrough of sell area
- Look to enter on reversal pattern
- If price breaks through 122 area with strong bearish momentum, execute sell
TRADE AT YOUR OWN RISK!