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There is a high probability that EUR will eventually break out of the long-term descending channel.
* EURUSD has been squeezed in the downward sloping channel over the past year. However, this time, it has a good chance to break upwards and cancel out the recent formation.
* The pair shows promising dynamic having reached a...
rising wedge formation on GBPUSD .
though the pair has broken below the support line of the wedge ,
I am paying close attention to 1.296 support of a narrow horizontal trading range.
I will sell the pair in case of bearish breakout of the range.
Target levels will be:
With the overall trend being down on the Daily TF
There have been numerous test of this 0.64 level and there is a nice shooting star candle followed by an engulfing candle.
IF this current 4HR candle can finish like this then i will be taking a short trade along with other reasons for my entry
Any questions feel free to ask
At the period from 11.10.2019 to 20.10.2019 the corrective confirmation of local reverse was formed.
the local impulse that completes this correction confirms the strength of the market and allows you opening long positions with minimal risk.
Additional confirmation of the reversal formation in the area
8800-8900 will give the market new strength for...
from august usdjpy is very bullish and last Friday pair has reached important decision zone.
109.0 structure level is significant for the market participants.
analysing the historical perspective we will immediately notice that this level
was respected by the market many times in the past and each and every...
. There is a possibility of temporary retracement to suggested support line (0.6350). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. NZDUSD is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.109.
But the short term forecast is range bound, so we expect to reach the following targets:
Set the stoploss of these orders at breakout of S2=1.108.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
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...
Here is a short trade set up using my own personal strategy.
Targeting a lower low on the 1hr timeframe for over 3:1 RR
Check out my blog for my strategy and more free technical analysis diaryofafinancekid.com
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...
This is the more detailed entry for my long position. I shared this set up previously and was waiting for the sell off down to my buy zone.
All analysis is on the chart.
TP 1 is the previous resistance and fib -0.618 extension
TP2 is longer term at 0.66
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...
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.