Though USDCAD is very chaotic in the last few days
yesterday we saw a very strong bullish impulse
breaking the resistance line of a falling channel and setting a new higher high higher close.
however, I am very very skeptical about further bullish continuation of the pair.
analyzing structure on 4H and daily...
Monfex is at your service and today we overview EOS/USD.
The blockchain company Block.One, which developed the EOS protocol, agreed to pay a $ 24 million fine imposed by the court on charges of SEC of unregistered securities trading during the ICO organized by Block.One in 2017-2018.
Against this background, the price of EOS rose by...
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...
Bitcoin is currently trading between two key structure levels.
After a massive selloff from 10000 level it looks like sellers started taking their profits.
Recently the market has formed a peculiar double bottom pattern, lying perfectly on key support.
+ Row of rejection candles and dodji + RSI divergence give as a clear...
I am and I was among those traders, who was skeptical in a further exponential growth on gold this autumn.
And finally selling volumes have been accumulated and we see a strong bearish breakout of key structure support .
Our bias clearly remains bearish and there is a lot of space to go lower,
on EURUSD we see a bearish continuation.
Next level of support that I will pay attention to is the wide area
between 1.080 - 1.085.
This area is a perfect conjunction of a horizontal structure support on weekly timeframe
and a support line of a falling parallel channel .
There will be a high chance to see a pullback from...
Looking to SELL GBPUSD in SELL AREA and to close position in TP AREA. (30+ pips)
- Enter sell on reversal candle
- Do not enter if price breaks through sell area and closes above strong with no clear signs of reversal
USDCHF is now trading at trendline and horizontal resistance after the midterm uptrend. The pair appears bullish around this area so we will wait to see a rejection of this level before looking for short entries.
GBPAUD is approaching a key support level on a daily.
On 1H chart the market has recently formed a double bottom pattern
and currently, it is attempting to break above the resistance line of a bull flag .
if it breaks, it will be a perfect confirmation to buy the pair expecting the retest
of the recent market...
though many traders have already turned bullish on EURUSD ,
I will be more patient and wait for a bullish breakout of a 1.096 - 1.097 narrow neckline
of a classic head and shoulders pattern.
only then my bias will switch to bullish .
Target levels will be based on structure: 1.1 / 1.104
If the market sets a...
thank you for supporting my previous ideas!
As I promised, here goes a trading signal :)
usdchf has recently broken below a rising wedge on a daily and on Thursday we saw a perfect
retest of the support line of a broken wedge .
On Friday on 1-hour chart the market has formed a perfect double top pattern and...
nzdusd is standing on a 6 years low on a weekly.
recent false breakout of a previous structure low on a daily leaves us clues
that bearish pressure is exhausted.
currently, the market is started to contract within a symmetrical triangle formation
- a clear indication of high indecision.
though according to a...
after a very good long trade that we have taken this week, it is time to adjust our trading plan.
Next week I will be paying close attention to a rising wedge pattern that can be easily identified on 1h and 4h charts.
On Friday the market has closed approaching a support line of the wedge .
Most likely buyers...