Andralex_11

Andralex_11

As we can all see since the very start of February, the market has been consolidating between the 1.80000 (resistance) and the 1.78000 (support) price range. Half way into the month (18/2/21) price rejected the 1.80000 resistance area and started gaining some bearish momentum. Due to this momentum the market has formed a very clear bearish trend line creating LHs...

Andralex_11

As we can all see, price has created a strong bullish momentum this week after a pretty bearish first month of 2021. During this time, price has formed a very clear bullish trend line. Currently, it seems that this bullish momentum is starting to weaken due to the fact that we had multiple rejections of the 0.77570 resistance area and the break of the trend line....

Andralex_11

As we can all see, price is currently on a very clear bullish trend. Due to it's constant bullish momentum price has created a trend line which has been hit and rejected three times in these past couple of days. Currently, price is respecting the trend line once again while also creating a very clear morning star (bullish signal) which is one out of the three...

Andralex_11

As we can all see price actually broke 1.37000 last Thursday and consolidated between the 1.37500 resistance area and the 1.37000 support area before breaking below this major support. Currently, price is rejecting the support area by creating a very strong signal for a move to the downside which is a bearish pinbar candle. In addition the MA (moving average)...

Andralex_11

As we can all see price has been consolidating between the 0.78150 resistance area and the 0.76500 support area since the start of the year. During that time, the strong bullish momentum started to weaken and price was making LHs (lower highs) and LLs (lower lows). Currently, price is testing the bullish trend line that was formed in the past. For this swing...

Andralex_11

As we can all see price has been consolidating in a bullish channel. It has just broken and retested it which means that a move to the downside is due to happen next. More confirmations that lead to this move is the 1h MA (moving average) crossover and the strong bearish momentum that has recently been created. This was my analysis on GBP/AUD and I hope you like...

Andralex_11

As we can all see price has been consolidating between the 1.37000 resistance area and the 1.35400 support area for a couple of weeks. In addition price hasn't broken past 1.37000 since 2018, meaning that it's quite a strong resistance. Price is currently rejcecting it once again leading to the only possible conclusion which is a move to the downside. In order to...

Andralex_11

As we can all see price has been "trapped" between the 1.37000 (resistance) area and the 1.35400 (support) area for quite some time. Price is currently testing both this support area and the daily bullish trend line that was formed in the past. In addition, price has also created and M formation and it will only be completed if price rejects the trend line and the...

Andralex_11

This analysis is a little different than what I usually do just because it's on the 1h chart but I don't think we will have any difficulties. So, as we can see price has been testing the 1.37000 resistance for a while and it has just rejected it, meaning that a move to the down side is probably what we expect. We also have a couple of confirmations that lead to...

Andralex_11

As my previous analysis on GBP/AUD showed, price has finally reached our first target (1.76150). I also said that I would make an update to this pair once we hit this area so here it is. This might be another chance to go long again due to the strong bullish momentum that has been created from the first move. We need to consider the fact that the 1.76150 area was...

Andralex_11

As we can all see price has broken its bullish trend line that was formed a couple weeks ago. It has reached the very start of the trend line which in this area also happens to be the 1.21280 support and both the daily and weekly 0.5 fib retracement. The multiple rejections of this area also leads us to have more than enough confirmation signals for a future move...

Andralex_11

It just can't get any simpler than this. Price has been "trapped" between 141.300 (resistance) area and 139.430 (support) area for a couple of weeks and has recently tested and rejected the resistance area. Price had also created a strong bullish momentum forming a very clean trend line which has also been broken. This leaves us with a very good shorting...

Andralex_11

This is an update to the last analysis I posted yesterday about GBP/AUD. The bullish momentum showed up a little late but its finally here and the move to the upside seems more and more certain now with price creating multiple rejections on the support area. It doesnt seem that price will break 1.74000 any time soon so I believe we should take this opportunity to...

Andralex_11

As we can clearly see, the market has been consolidating between the 1.79000 and 1.74750 area for a couple of weeks. During this time, price has created an M formation and is also currently testing the 1.74750 support. Firstly what we usually want to see after an M formation is for price to reach the neckline and in this case the 1.76150 area which is our target...

Andralex_11

Happy New Year fellow traders, I hope this year we all overcome any obstacles that stand on our way to success! ~Okay now back to the markets and spesifically on the USDJPY pair. My last analysis for USDJPY we identified a shorting opportunity using just a trend line, support and resistance areas and the fib retracement tool and as we can see price has dropped...

Andralex_11

As we can clearly see, price had been consolidating between the 104.740 resistance area and the 103.670 support area , rejecting both of them at least three times before it finally broke the support(103.670). We all know that once price breaks below the support then the same area turns into resistance. So after the drop, price created a nice bullish trend line and...

Andralex_11

As we can easisly identify GBPUSD has been maintaining its bullish momentum for almost a whole month. It has also recently rejected a major weekly resistance area (1.35000) and is currently consolidating between 1.34000 and 1.33000 with the last one being a strong support area. A shorting opportunity will present itself if the price finally breaks the 1.33000 area...

Andralex_11

As you can see the market has created an inverted HEAD AND SHOULDERS pattern. This pattern indicates that there is a strong possibility for a move to the upside. In addition the market has already broken and retested the neckline so this means that we are ready to get in this trade with the odds being in our favour!