USDCAD is in a free fall.
I believe that sellers will keep pushing the market lower.
I will try to catch a pullback based on the key structure support level 1.305.
This level matches perfectly with a horizontal structure on the left and
completion point of a harmonic gartley pattern .
Target level will...
EURGBP is very close to 2019's market low.
Pay close attention to 0.847 - 0.854 demand zone .
Bets are very high that we will see a pullback from this area.
Also, it is very easy to protect our position setting our stop just below the identified low.
Target level is based on structure and projection of BC leg.
this week is very very bullish for EURUSD .
If you analyze price action on a daily tf
you may notice than we haven't seen a pullback for quite a while.
Yesterdays, pair has reached key level of resistance 1.113 and, for now, buyers do not push the market higher.
I believe that there is a high chance to see a...
Dollar index keeps falling.
Selling pressure is accumulating and for the last two weeks, we haven't seen any pullback.
The market is coming closer and closer to a support line of a major rising channel .
I think that bears will keep pushing the market to 96.5 level and only from the identified zone we will see a...
Momentum is slowing down on AUDUSD as well.
After a strong bullish impulse, we see that the market is trading within a narrow rising channel .
In case of bearish breakout we can short the pair.
Target levels will be
Stop will be above the highest point of the channel.
Expanding wedge formation on BTC .
The market is very close to the horizontal support.
The odds are very high that we will see one more bullish impulse from it.
Safest stop is 7600
Initial target - 8400
Second target - 8800
after a massive buying reaction last week we see that GBPUSD is slowing down.
rising wedge formation is a very good indicator of weakening momentum.
More the market contracts within the pattern, higher the chances that it will break to the downside.
I am waiting for a bearish breakout of the wedge to short...
Monfex is at your service and today we overview EUR/CHF.
This currency pair is moving in a downtrend globally and now the local resistance zone has been overcome and there is the next resistance zone along with the resistance line. By breakout of this line, we can take the target ~ 1.14.
But it is more inclined to think that there will be a...
descending triangle formation on AUDJPY.
Pay attention to a horizontal support of a triangle!
Bearish breakout of support is a signal to short the pair.
We don't know how long the pair will be trading within the triangle,
but when it breaks, set your stop above the last lower high!
target levels will be:
1W Chart shows that price is moving in consolidation in this triangle pattern and that the exchange rate is above the 200 EMA, therefore suggesting the current direction of price is still upwards:
-Price can exhaust outside of a resistance/support zone. It's not forced to stay exactly within restricted channels. I would...
WTI has clearly respected a key structure support level on a daily.
we see a sequence of rejection/dodji/engulfing candles and rsi divergence as well.
I have a bullish bias on WTI and currently hold a long position.
My stop is 50 level but I have entered a few days earlier.
Key levels for targets:
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...
This is my update for DXY.
Dollar index has recently broken below the support line of a rising wedge.
It is a very strong signal which determines a bearish sentiment.
We can expect a rally to 97.5 level and my midterm projection is bearish.