Short term Elliott Wave view in EURJPY suggests that rally to 165.35 ended wave 3. Wave 4 pullback unfolded as a double three Elliott Wave structure. Down from wave 3, wave ((w)) ended at 162.59 and wave ((x)) ended at 165.17. Down from there, wave (w) ended at 163.85 and wave (x) ended at 164.69. Wave (y) lower ended at 162.26 which completed wave ((y)) of 4 in...
AUD/USD is rising toward a resistance level, which is an overlapping resistance aligning with the 38.2% Fibonacci retracement. A reversal from this level could cause the price to drop to our take profit target. Entry: 0.64891 Why we like it: There is an overlap resistance level which aligns with the 38.2% Fibonacci retracement. Stop loss: 0.65483 Why we like...
💹 Let's dive into another forex currency pair for trading analysis. 🔍 The Japanese yen (JPY) continues to weaken against other major currencies such as EUR, USD, and GBP, including the Canadian dollar (CAD), losing its value. 🕰️ In the weekly timeframe, if the current candle closes similarly, we observe strong buying pressure, with last week's two red engulfing...
USD/CAD is falling towards a pullback support and could potentially bounce off this level to climb higher. Buy entry is at 1.3738 which is a pullback support that aligns with a 38.2% Fibonacci retracement level. Stop loss is at 1.3715 which is a level that lies underneath an overlap support. Take profit is at 1.3807 which is a pullback resistance that aligns...
Hello traders! ‼️ This is my perspective on AUDCHF. Technical analysis: Here we are in a bearish market structure from 4H timeframe perspective, so I look for a short. I expect price to continue the retracement to fill the imbalance higher and then to reject from FIBO 0.618 level + institutional big figure 0.59000. Like, comment and subscribe to be in touch with...
Entry: 1.0649 | Stop Loss: 1.06390 | Take Profit: 1.06799 This entry strategy relies on a specific scenario: a breach of the support level, prompting a retracement for a retest. The key here is confirmation, which we seek through candlestick patterns. We're looking for a convincing signal that the market is ready to reverse, such as a bullish engulfing pattern or...
The price perfectly fulfilled my previous idea. The market literally went up and hit the target level. It is heading toward the strong resistance zone, which is the potential swap zone. I think the best scenario might be to wait for a pullback towards the swap zone and then short the market from the optimal entry zone. If the price rejects the resistance at...
Update for AUDUSD: after a correctional bullish movement, I see the signs of strength of the sellers on an hourly time frame: the price formed a descending triangle formation and broke its neckline. I expect a bearish movement to 0.6417 / 0.6405 ❤️Please, support my work with like, thank you!❤️
Hello traders, on account of US Dollar demand across the board due to news about the escalating Iran-Israel conflict, GBP/USD fell quite rapidly during the Asian Trading session on Friday. However, in the 4-hour chart, we can see that the price is currently at the lower trend line of the price channel. So, if the lower TL holds, traders can consider going long...
Price has been stagnating in the daily Fibonacci zone between 50 and 61.8, price has made a higher high and higher low on the lower timeframes. Positive data release for the pound, anticipating a bullish leg up into 1.26000
-Impulse move has been completed -H1 Head and Shoulders -Monthly Pivots Resistance Zone reached
GBPUSD held above the lower boundary of the descending channel as well as support and dynamic support. The chart repeatedly failed to break the nearest support. The price formed a bullish takeover. We think that the chart is ready to bounce off the support. ------------------- Share your opinion in the comments and support the idea with a like. Thanks for...
EURJPY is moving in an ascending channel. The volatility continues to decline, which means that a new impulse is about to emerge. The price is approaching the psychological resistance level of 165. The chart has already reacted twice with a sharp decline after reaching the dynamic resistance. We expect a pullback to the 50% retracement level after the...
NZDUSD - 24h expiry Price action looks to be forming a bottom. Short term RSI has turned positive. A move through 0.5950 will confirm the bullish momentum. The measured move target is 0.5975. Pivot support is at 0.5875. We look to Buy at 0.5900 (stop at 0.5872) Our profit targets will be 0.5970 and 0.5985 Resistance: 0.5950 / 0.5970 / 0.5975 Support:...
AUDUSD experienced a slight recovery today, reaching 0.642, yet the overall trend remains bearish according to the daily chart, as this pair has twice attempted and failed to breach the resistance level at 0.662. Sellers continue to dominate, evidenced by the breakdown of the uptrend line. On the upside, AUDUSD might see a minor correction to retest the breakout...
i know my things so sometimes chart is not complicatet so dont need complicated analysis, this is a trade only on Market Structure
EURJPY is trading in range bound with 250 PIPS range. some time ranges are the best things to play just buy the support and sell the resistance. as this one is 250 pips range which can deliver fine risk to reward. currently the price is at resistance level and being rejected due to selling pressure. will the pair head back to support area ? what you guys think of...