The pair was ranging in a flat channel since august 2018 and finally broke the channel last month and retested it forming a small corrective channel on the H4. A break to the downside of the support of the channel and the target for the pair is at 1.09500.
Bullish pennant formation on AUDNZD. An upside break is favoured on this setup with a target at 1.08500
CADCHF got rejected by the major support at 0.73875. The pair broke to the upside the descending trend line of the descending channel. Before the breakout there was a double bottom formation at 0.73675 and a divergence on RSI on H4 and a hiddendivergence on H1 I am expecting an upside movement to 0.74450 with an entry if there is a retracement at 0.74220 and a...
I expect bears to take control of NZDCAD. The reasons: - Prior Bearish movement - Breakout of the corrective ascending channel + retest of the trend line and 18 EMA with a pinbar formation. I would favour an entry at 0.88300 with a stop at 0.88760 and a Profit target at 0.87000
I see the pair keeping the downward momentum active and push down to 108.438 and further 107.780 in the next trading session. Safe Trading !
After a break of the major descending trendline, I expect the pair to move higher in the next trading to 0.66860-0.67000 area. Before placing any buy order I will look for a pullback at 0.65370-0.65420
After almost 30 consecutive days of downside movement materialized by a descending trend line, the pair broke the major trend line. On the H4, the breakout followed a phase of stabilization with the pair unable to create a lower low under the 0.68650 zone. During the stabilization phase, a bullish divergence was formed on the RSI 14 indicating a change in...
After a strong move to the downside on wedneday and thursday, the pair slowed on friday and started to consolidate under the key level of 0.74715. I see this level act as a resistance and any upside spike in this zone (0.74630-0.74715) will be a signal for a move down to the zone between 0.73875-0.74000 as next target. If there is no move back to the upside zone,...
GBPJPY Has been making a serie of LHs materialized by the descending trendline connecting the previous highs. the pair is actually testing this line for the 3rd time, showing some indecision candlesticks on the last 2 days trading session showing a deceleration of upside movement. It also important to take in consideration that the 3rd touch where we actually are...
CHFJPY is contracting within the triangle formed by an ascending and a descending trend line. The pair is currently at the descending trend line for the third time and is being rejected. Inside the formation, there is a mini upside trend line which is supporting the pair. This line has a high probability to be broken to the downside. If the break happens, I will...
After the loss on that pair from my analysis of March 16 2019, the pair moved in the direction expected. It has retraced form the low at 75.460 and is now retesting 76.000 zone. That zone used to act as support and now is turned into resistance. if the pair fail to break the resistance, I see it make a new bearish leg to 75.150 - 75.300. Safe Trading!
I see: - 76.444 horizontal line acting as a daily resistance of the range (support at 75.129) - Indecision candlesticks on the daily with a pinbar as last candlestick - 5th touch of that resistance, price being rejected on H4. - Bearish divergence of RSI 14 on the H4, H3, H2, H1 These confluences give me a bearish bias on the pair. Safe Trading !
Euro is at a a very interesting point where there are good confluences: - 4th retouch of the descending trend line - resitance level at 1.13578 resisting well with multiples wicks on H1 H2 candlesticks - bearish divergence On RSI 14 on H4, H3, H2 A clear break of the ascending trend line and the pair may fall down to 1.12730 Safe Trading !
The Pair is sitting at a major area at 1.32850 - 1.33150 zone which used to be a resistance and is now acting as support. The support zone is in alignment with a trend line joining previous highs and now supporting the pair. Plus, still in that zone, we have the 50% fib retracement (1.32988) of the bullish move from the lows at 1.31320 to the highs at 1.34650. I...