GBPCHF starting the week/month with a strong break to the upside. Bullish monthly profile for Jan, with consolidation/reaccumulation after early month buying. As long as price remains above todays open, a breakout should b respected (NO SHORTS). The daily chart shows big upside possibility with price breaking a bigger consolidation volume box. Watch and see...
CADCHF had an interesting Jan. As shown on the Daily chart, its trading on the HT in a tight consolidation volume box. Early month (Jan) price action on the H4 chart showed clear buying. We broke above the trendline from mid November, consolidated and broke to the highs. However, there was no acceptance of price above 0.700 and price quickly returned back to...
GBPCHF getting a strong push to start the week. Demand remains in control as we retest November supply for third time in like a week. If we finally get a break, risk is clearly to the upside as shown on the daily chart. With this current consolidation, price action is clear. Price should remain above the 1.21 area, with any move back below raising serious...
Going into next week, keep a close eye on GBPJPY...we had a nice consolidation in November & December..resulting finally in a breakout starting this year. Buyers have been in clear control, and how price behaves as we retest this breakout level will be an important indicator of what comes next. Failure to hold sends Pound back into last years consolidation zone,...
Its important to keep an eye on Gold for a broader understanding of what is going in the Markets. We have an interesting profile setup from 2020. A strong demand/accumulation zone between 1680-1750, and a large acceptance zone between 1850-1970(2000ish). Since we topped in early August, we've had choppy sideways consolidation in what could be a pause before...
CADCHF seems to be about to have a major breakout on the higher timeframe..looking at the H4..u see a zoomed in look of wat could end up being a big 1.2 wave if confirmed. Its been playing out rather orderly but patience was key...Supply on the 10th of November was actually a bullish sign. The move took out previous supply..and the move down was a return to...
With GBPCHF trading at a similar level..keep an eye at CADCHF which is also testing breakout levels...currently at top of volume box..a break from here sets up a much bigger move to the upside..testing above supply would come first..then higher into last year highs.
Pound setting up some interesting patterns across all pairs..GBPNZD testing upside resistance..possible double bottom set. Break up brings it back into last years value, supporting much bigger moves to the upside going into 2021.
Pound swiss testing upside of that volume box yet again..Can we finally get some momentum to break to the upside!?!