Currently the Pound Yen are in 61.8% pullback and also in the bearish channel. If the Pound Yen are able to break this trend line, we are going to Long this pair to the major 61.8% retracement of previous ABCD pattern. If not able to break and form reversal signal, I'll aim back to its support level.
Here I start to look for clues to get back in to the upside. Price action on the 4 hour chart need to confirm that move and the trendline needs to stay respected.
According to technicals, and confirming the trend on the Daily timeframe, this level appears to be an interesting level if price breaks that zone.
EUR/USD bounced from the top trendline for the 4th time now. We are constantly making Lower Highs indicating a downtrend. This is only a short term trade. Long Term I believe EUR/USD is bullish. Risking 1% on this trade.
Quick video and only one I'll be posting tonight and likely for the weekend. Anyway, my top down analysis of XRP and general opinion on price action. I am a long term holder for XRP, but do see more downside possible in the pair. Especially, if we see BTC start moving up. I believe we'll see a breakdown to the lower level demand zone from the daily!. Be...
Hello Traders, Potential short term target for ETC found from technical analysis. Price breakout from a flag pattern with volume confirmation, potential target are highlighted in gold box. MACD and DI+ has also made crossing after the price action bounce off from trend-line and EMA50. This bounce is a confirmation of trend line indicate this trend line is...
If we get a solid break lower out of the consolidation we should see lower prices, given we have what looks like a fake break to the upside, looking for buyers around the 0.882 level
Looking at USDJPY on the 4h timeframe we can see a clear trendline bounce with 2 confirmation candles. Low RSI shows a clear oversold making the trendline hard to break. Adding to the support there is the pivot point just on the trendline. Targets towards the top trendline but being cautious of the MA zone that is on the P pivot point acting as resistance.
H4 - Price respecting uptrend line, we may expect it to hold. M15 - We may now expect the price to move lower and reach the H4 uptrend line also creating bullish divergence. Then we can go long with the breakout of the downtrend line.
NZDJPY forming a nice wedge on the D1 chart. Multiple touch points on both upper resistance and lower supporting trend line.