EURNZD is currently at strong supply zone with price action here indicating slowing bull momentum/incoming bearish reversal (dojis)
The strong upward move followed a phase of consolidation/accumulation after NZD interest rate news/coronavirus fears.
I am expecting price to drop to meet the descending trendline. We may see a break or bounce scenario here. Should...
EURNZD consolidated yesterday at the downward trendline/S&R zone highlighted. Today on H1 we have a break and retest of this area which indicates shorts are looking likely. With these confirmations I expect a drop to the 2020 low.
However technicals aside, we have the RBNZ interest rate decision 1am tomorrow GMT which will affect NZD pairs. These data releases...
USDCHF nearing the sell zone of the current trading range. We can look to short/sell limit at the 0.9760 area.
With stops placed above the range at around 0.97850 this will give us a lovely entry to target the 0.96300 with an excellent R:R of over 1:6!!
1.10 target reached on my previous short idea posted Monday. Now looking for long entries once we get a clear bounce from support.
Let's assume there is a lot of liquidity at this 1.10 zone and possible stop hunts. NFP tomorrow also so may not get a clear direction until the data is released.
1550 zone holding well as support. Refer to D1 chart to see how significant a level this is!
Price action on H1 and H4 from today indicates price does not want to push down.
Gold is still up trending and so I am expecting longs into S/R zone around 1572. Not interested in selling against this trend.
USDCAD has been up trending for a number of weeks, bullish momentum being boosted by a weak CAD on Januarys BOC interest rate data.
The daily timeframe is still downtrending however, and we have several indications of a bearish reversal (see annotations)
Long term target is the previous daily low at around 1.296.
By observing the lower timeframe we can see EURJPY has been consolidating over the past week, ranging from around the 119.800 - 120.400 level, in line with the lower trendline of the ascending channel observed on D1.
Today we see a breakout and retest from the upside of the range. Stability in the Euro following Brexit should hopefully give EJ the headway it...
Posted this late - was meant to publish last night before the move began.
EURUSD still downtrending on higher timeframes. By condensing to 4hr we see a clear rejection of the 1.11000 psychological level in line with our trendline and resistance-turned-support zone.
Next area of support is the 1.10000 psych level, I'll be monitoring this area for profit taking.
GA forming a descending wedge pattern.
Price now consolidating at the upper trendline in line with the 1.92 psychological level.
I am hoping price will reject here to break through the current trading range, in which it may give way to a 300 pip drop to the lower ascending trendline.
Amazing R:R on this trade!
As we can see from the daily chart the pair has risen to retest the previous broken support zone at around the 1.27 psych level - I believe this was due to GBP gaining strength on last weeks employment data.
Bullish momentum appears to have slowed at this zone with price action showing a potential reversal (doji), whilst retesting the opposite side of the upward...
We are presented with what appears so far to be an ascending channel on this pair, with higher timeframes displaying price up trending since late December.
By condensing to the hourly i have observed an area of consolidation around the lower trendline - with price unable to break below. With the trend bullish i am going to look to place buys if we are able to...
EURJPY currently uptrending. A weakness in JPY has been observed with XXXJPY pairs rising over recent days.
However, this pair has came to a halt at the resistance zone forming a triple top. We look to sell to meet the upward trendline.
Potential short for 150+ pips once price action confirms bearish reversal.
US/Canadian dollar observed on daily timeframe.
Wednesday's daily closure illustrates a clear rejection of the 1.31 psychological level. By observing higher timeframes we can see this zone is a significant area of multiple price rejections.
Now price has managed to break the zone and complete the retest I am looking to enter a short position on the pair...
Last week we saw some strong moves from this pair due to geopolitical tensions.
Initially we observed a powerful bearish push to the upper 107.000 range as the USD rapidly devalued following the Iranian attack on U.S forces in Iraq late Tuesday night (GMT).
However, this was short lived and the pair subsequently recovered, climbing to the highlighted...
GBPCHF holding above 1.267 zone since mid-October.
On the hourly timeframe we are presented with a descending triangle formation with price making lower lows whilst making continuous rejections from the highlighted support zone.
Expecting two scenarios as annotated on chart, perhaps it will be fundamentals which will give price the necessary momentum to...