EURNZD has remained sideways for more than 17 trading days, printing a flag pattern. However, it appears that the resistance zone above the pattern is very strong. All the previous 6 days' candles were engulfed by last week's last candle. Bears may be in control in the next few days. ---------------------- Let me know your thoughts in the comments, and show your...
In the past week, DXY has succeeded in breaking out of the falling wedge pattern, getting into a resistance area around the 105.5 level. Following the employment news, DXY fell again into the wedge pattern. Price is likely to retest support at 103.5, asking for liquidity to rise again, maybe to 105.6 or 107. Note the divergence in the RSI and the crossing of the...
EURCAD was rejected at 1.4610, and the supply zone was also around this level. Local support at 1.4357 prevented the price from falling further, perhaps looking for more liquidity. We might see a retest of the resistance level at 1.4610, printing a double top pattern with a divergence on RSI or MACD. Then, we have to wait for the local support at 1.4357 to break...
The gold price has broken and remained above the neckline of the head and shoulders pattern at 1805, but there is a lack of momentum, as indicated by the RSI indicator, which shows divergence at the daily time frame. That makes sense when it's almost touching a monthly trend line from March 2021, I expect the scenario to go longer to reach the trendline and then...
A yearly support zone dating back to 2022 was touched by CADCHF. The price bounced off that zone. But there is a lack of liquidity, making it difficult to trade long. The price is likely to retest the resistance level at 0.6800 and make a bauble bottom pattern, But this time, there might be a liquidity hunt for orders below 0.6800. You should wait until the hunt...
At 0.688, AUDUSD was rejected from a supply zone and from touching a 200 DMA and 32.8 Fib level. However, it appears it will climb again to form a double top. Monthly resistance at 0.700 may be reached if it continues to rise. There is a high chance it will bounce back, and it will be an excellent time to sell. There is also a possibility that the price will...
Although the price has broken the previous lower low from the August 2022 level, indicating a new downward trend, Currently, the price is facing a significant support area. As we look at the chart, we can see a year and a monthly trendline meeting, a 55-week moving average, a demand zone, and a 50 Fib level at 102.25. A daily timeframe shows the MAC D divergence....
CADJPY is in a flag pattern. We are waiting for an escape candle with Propper momentum ether up above 101.212 to continue bullish or below 99.254 to fall bearish. Although a bullish move would be more favorable, the price is in a Demand zone, with a 50 weekly moving average and touching the trend line below. ---------------------- Let us know your thoughts in the...
SP500 has finally broken down the head and shoulders pattern I discussed in the previous idea , and now it's facing some resistance from a trend line descending since last Aug. Here I see two scenarios: scenario-1: opening in a gap without under the trend line, but it has to face the demand zone @3771. Then it might shoot up to retest the neckline of the...
AUDCAD Has Bounced off a strong supply zone, breaking 2 trend lines and printing a new price below the previous lower high to make the first lower low in the new downtrend, we might see a retest at 0.92070 and then continue downwards at 0.90035. ---------------------- Let us know your thoughts in the comments, and show your support by liking the idea. Please...
The DXY needs to break up the 105.8 level, a previous resistance level, and break from a local trend line. As the price approaches 107.8, it may be a combination of 3 resistances, a descending trend line, a daily resistance, and the 100-day and 50-day moving averages. -------------------------------- Feel free to share your thoughts in the comments, and kindly...
I see USDJPY moving upward for the following reasons: 1- failed to make a new low, lower than the previous low @ 130.50 2- touched a Demand zone. 3- made a double Bottoms with Divergence @ RSI 4- Broken 2 weekly trend lines and a local small trend line. 5- got rejected from a 200 DMA. We must see a break in momentum through the Fib level 23.60 and 61.80 for that...
On the daily chart, The DXY holds in a powerful resistance zone; there is a 200DMA, monthly resistance, weekly resistance, and a supply zone with a 38.20 Fib. In the 6-hour time frame, we have two reversal patterns, with a divergence in the MACD. We may see a head and shoulders pattern if a candle closes above 105.74, as shown by the yellow arrows on the hourly...
SPX500 is facing strong resistance, 1 - touching a trend line that started on January 22 and touched again on March 22 and August 22. 2- A touch of the 200-day moving average. 3- Touch the ascending channel's top trend line. 4- Entered and exited a supply zone. On the 4 hour time frame, I see a head and shoulder pattern with a divergence on the MACD In order...
AUDUSD is in a strong resistance area, touching the daily 200 DMA, a descending trendline, a 61.80 Fib, and a supply zone, We could see a wedge pattern with a divergence if we look closer at the price action. I believe we could see 0.66095 and 0.65534 this week, -------------------------------- Feel free to share your thoughts in the comments, and kindly support...
I see the Dollar index bouncing off a monthly resistance area , a combination of horizontal resistance from 2017 and 2020, and a rising trend line . Also, a place to meet with the 55 EMA and a 100 EMA and remember a 23.6 Fib line. Also, on the smaller time frame, I see a weakness in momentum and divergence as arbovirus on RSI . As for COT data, I do not see any...
After USDSGD has escaped the ascending channel and the head and shoulders pattern, it is now touching an ascending trend line starting back from Sept 21 and touched again on Feb 22, also touching a 23.6 fib level, currently looking to retest the previous support (neckline) and a 61.8 fib, which is now resistance @1.366, and also the lower channel line. Which was...
If gold breaks the neckline of the inverse head and shoulder pattern @1803 with momentum and stays there, it will probably target 1832 and then come back to retest the neckline and do some liquidity fishing to head up again towards 1895. There is a possibility of changing the hole direction down to 1703, but I am still biased long on gold ; my reasons for that is...