We've seen yet another bounce off our support level and price continues to trade in our flat channel. We're expecting bears to enter the market around this level. Stay tuned and watch this pair as we head into next week. Will we see a breakout?
Lovely double bottom formation at a long term key level in the market. Price currently resides at a marked key level on our charts. Will we see a break of this level? If so - clean traffic up to 1.7070!
Keep an eye on this pair - And any questions please drop me a message.
Yesterday we saw price testing our marked support level at 1.2650. We've seen this level hold and buyers takeover today with a strong looking bullish candle so far. Will price rally up to our top trendline and see a potential breakout?
We're currently at 1.37 once again. We tested this level yesterday and saw a strong bearish bounce off the level. Will we break this level today?
In yellow highlighted circles we can see all the previous tests of 1.37 and strong bearish rejections. This is combining a key level in the market with a whole psychological level that often acts as additional support...
Here we can see price is trading in a flat channel highlighted with the black horizontal lines and our green highlighted rectangle. Price is contained in this area. We are waiting for price to breakout to the downside on this pair.
Please drop me a message. I'll be happy to help with any forex related queries!
What have we seen on this pair?
We've seen an ascending trendline broken and retested acting as resistance.
Following this we've seen a strong bearish move.
Will price rally up to our highlighted key level before more sellers enter the market?
Happy Trading! Simplicity is Key for longer term structure!
We can see we predicted a break of this level and a pullback up to test the level as resistance.
We have seen this. Lets watch and see how price reacts at this level. Will we see further downside movement off this level?
We've seen our first indication of a potential reversal - a break of structure. We've marked levels in the market to be aware of if trading this pair.
Any questions - feel free to message!
Have a great trading week!
This is EUR/GBP on the Daily Chart.
We can see price has respected this level of support since May 26th 2020.
Once again price has tanked down to our support level and bulls have been sitting at our support zone - we can see price starting to move away from our key area yet again to the upside.
We can use candlesticks at this key level as extra confirmation -...
We posted analysis on this pair last week on our profile expecting a break of our chart pattern. We have seen that break today! Will we continue to see downside movement throughout the week or will price retrace?
We can see price has now reversed - we expected dollar strength and this is what we're continuing to see through London this morning. Lets see how price develops on the pair through New York in around 4 hours time.
Identify key trends, key breaks, key structure levels. We're expecting more downside movement on the pair.
Happy Trading! Hope you all have a great...
We've seen NZD/CAD in a long term uptrend. We see a break of structure, a retest of a previous structure low before bears enter the market.
Look at these textbook break and retest setups and potential entries you can take to the downside! A break and retest is when price breaks through a previous low in the market, retraces and tests this level as resistance...
New pair on the analysis page!
We've seen a long term uptrend on the pair. Price currently trading in a range with price failing to make new highs (aside from the fakeout). Will see more bears enter the market during next week.
Many AUD pairs at the top of their respective ranges including AUD/JPY - see our previous analysis on the pair!
Good afternoon traders, hope we all have a great weekend. Here's what GBP/USD is looking like heading into next week.
We can see price tagged 1.37 forming a triple top formation. As expected, bears enter the market and take price down over 100 pips in a 24 hour period.
Will USD strength continue into next week? Could we see price test 1.35?
USD/CHF - Daily Chart -
Our blue daily key level is market at 0.9000 whole level.
We're expecting price to break our current 4 hr level during next week and rally up to test our blue highlighted level.
The green arrow shows the potential price path the pair could make in the longer term.
We can see multiple rejections of 1.78 and our trendline used as dynamic resistance twice after a break of the ascending channel.
Price currently testing a key 4HR level. Drawn are two potential price paths.
A key long term resistance zone. Price is getting squeezed in this rising wedge type structure. This week we've seen indecision with increased sellers in the market at this key level. Will we see a break of structure and move to the downside?
Happy Trading. And always manage risk!