Candlestick_OB

Candlestick_OB

As CHFJPY approaches an area containing three resistance elements - the 145.750 resistance level, the monthly ascending trend line, and a supply zone - it is probable that the price will rebound from this area and decline to 138.90. However, if the price manages to close above 148.350, then a bullish scenario may...

Candlestick_OB

The GBPCAD currency pair has failed to make a higher high and instead made a lower high. It then broke the monthly trend line and the 50-day moving average, immediately testing the neckline of the double top pattern. On the last day of the previous week, the price managed to break that line with a high momentum candle engulfing all of that week's candles. Now, the...

Candlestick_OB

The EURUSD pair performed as predicted in my recent two analyses. It rebounded from the lower boundary of the channel and the 50-day moving average, made a brief attempt at the last broken support, and continued its downward trend. However, the momentum appeared to be lacking, as evidenced by the divergence on the RSI and MACD. This was because the price was...

Candlestick_OB

The recent performance of the Dollar Index suggests a potential upward trend, as it has closed multiple daily candles above the yearly trend line. However, for this to be confirmed as a buy signal, it is necessary for the index to clear the resistance at 103.500, the 50-day Simple Moving Average, and close above the upper boundary of the descending channel. If...

Candlestick_OB

The SPX500 failed to reach a new high when it hit resistance at 4160.0, forming a triangle pattern. The price has broken the ascending trend line and the 4-hour 50 moving average, and a break to the downside of the pattern at 4080.5 would confirm a new downtrend, signaling a sell with a target of 4006.0. On the other hand, if the price breaks the pattern to the...

Candlestick_OB

The EURUSD has hit the bottom boundary of the ascending channel and the 1.07150 support level as well as the 50-day moving average. Currently, it is attempting to test the 1.08350 level in order to form the first lower low, or possibly the 1.09000 level to form a head and shoulders pattern. Ultimately, if the price fails to produce a higher high, a bearish trend...

Candlestick_OB

The XAUUSD failed to make a new higher high and instead made a new lower low after touching the upper line of the yearly channel and being rejected strongly for two days. This indicates that the bullish trend has ended and a bearish trend has taken over. The gold has returned to retest the key level of 1870, which is a challenging area to break through due to...

Candlestick_OB

The GBP/USD currency pair has formed a double top pattern with a divergence on the MACD indicator, which has been confirmed. The price is currently heading towards the neckline, which is the key level of 1.18550. At this level, there are several factors that may provide support, including the 200-day moving average, the ascending weekly trendline, and the 23.60...

Candlestick_OB

On the weekly and monthly time frames, EURUSD failed to break above the yearly trendline, which serves as a strong resistance. There was also rejection at the 100-week moving average and the 50% Fib level. On the daily time frame, the rejection was more clear with the presence of the upper line of the ascending channel and the 1.09000 resistance level, as well...

Candlestick_OB

The price on AUDUSD has followed the expected movement as outlined in the previous analysis . Currently, the price faces a combination of four resistance levels that need to be cleared before moving further down: a weekly trend line, a yearly trend line, the key level of 0.68650, and the 38.20 Fib level. It is probable that the price will bounce off these strong...

Candlestick_OB

The price attempted a false break out of the ascending wedge and was rejected by the yearly resistance at 1033, leading to a downward move. A divergence is evident on the MACD indicator. In order to consider a sell signal, we need to wait for the price to break down to 1025.5 ---------------------- Let me know your thoughts in the comments, and show your support...

Candlestick_OB

The US Dollar Index has produced a bullish engulfing candle on the weekly timeframe after failing to break down the weekly resistance level at 101.50. On the daily timeframe, there is a breakout of the falling wedge pattern with a positive divergence on the MACD indicator. The price still has three more resistance levels to overcome before it can be considered a...

Candlestick_OB

The EURCAD currency pair has formed a triangle pattern with a divergence on the MACD indicator. This pattern also appears to show triple tops with another divergence. These patterns are located at a strong resistance area, as the price is touching the 200-week moving average and testing the key level of 1.46350. To consider a sell signal, the price must break the...

Candlestick_OB

USDJPY may attempt to break out of the descending channel, facing resistance at 130.400 and the 12-hour 50 MA. If it successfully breaks out, this could signal the end of the downward move and the start of an upward trend. ---------------------- Let me know your thoughts in the comments, and show your support by liking the idea. Please follow if you're interested...

Candlestick_OB

AUDUSD has already declined after reacting to a supply zone and upper channel line, and may retest the bottom line of the ascending channel and 50 MA. A bounce to the upside is possible, but if there's a clear break, the price could continue down to reach the 100 SMA and ascending weekly trendline. ---------------------- Let me know your thoughts in the comments,...

Candlestick_OB

The GBPJPY on the daily chart has formed a double bottom pattern, with a divergence on the RSI. A break of the neckline could indicate a move towards higher prices, potentially targeting 163.888. ---------------------- Let me know your thoughts in the comments, and show your support by liking the idea. Please follow if you're interested in more ideas like...

Candlestick_OB

The hourly chart of Gold appears to have formed a head and shoulders pattern, with a divergence visible on the RSI. A move to the downside may occur if the price breaks the neckline and the ascending channel. ---------------------- Let me know your thoughts in the comments, and show your support by liking the idea. Please follow if you're interested in more ideas...

Candlestick_OB

As shown in the chart, GBPUSD is in an extremely difficult resistance area. A trend line from October 2022 and the neckline of the previous head and shoulders pattern, as well as the Crossing 100 and 200 four-hour SMA are all forming this zone. The price is expected to react and fall toward 1.1853 and 1.179. ---------------------- Let me know your thoughts in the...