NBent

NBent Updated 

Keeping it simple. The resistance area marked on the chart was tested as support back in March and held strong with 4 days of bullish movement. Mid May we broke through this level to the downside, turning this level into a potential resistance then retested it from the downside. It holds and moves all the way down to the marked support level. Since then, we've...

NBent

EURUSD saw immense selling during the Brexit, traveling over 400 pips in 8 hours. Since then the bulls have only been able to recover roughly 50% of that downward leg over the course of 2 weeks. With the lack of any prevalent bullish moves and with a weak correction currently in play, another impulsive downward leg is anticipated in the sessions to come,...

NBent Updated 

USDCAD has been creating lower lows and lower highs the past week and has offered several great sell opportunities, one of which I had posted a previous idea regarding (See related ideas below). Going into this week, USDCAD has formed a corrective move back into a previous support level, now turned resistance (Roughly 1.2925). This is an ideal area to form another...

NBent

Greetings, USDCAD has been in a ranging environment the past week, in-between around 1.297 - 1.31. After an impulsive leg down, price broke through the support level with strength and since then has created a weak correction back into this role reversal level. This hints at another potential leg down, especially with the rejection candle that formed off the...

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Since mid 2015, USDJPY has seen significant declines--recently hitting the 104 handle. With that said, there is no indication of any kind of slowdown or potential reversals to the upside given the recent impulsive-corrective structure on the daily to intraday charts. As seen on the chart, the red boxes highlight the impulsive moves that consistently create new...

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Since late January, USDCAD has seen a significant counter-trend move to the downside after a sizable bullish run. On it's way down, price briefly found support at the 1.3390 handle (the first blue box) before breaking through it shortly after. After breaking through to the downside, this level got retested twice (the next 2 blue boxes) and met significant selling...

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EURUSD has formed a series of impulsive and corrective moves that shows us exactly how much power the bulls currently possess. To clarify, impulsive moves tend to be "strong and fast" while corrective moves tend to be "weak and slow". This directly correlations to the strength of each party's hand. The bulls are in control right now. The push from the bulls are...

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Within a steady uptrend, price initially struggled to break above the 38.5 level. However, the immense bullish pressure resulted in a breakout to the upside and a brief intraday pullback shortly after. Price preceded to create a new high and has pulled back to that same role reversal level (now support). It has formed a notable reaction hinting at potential...

NBent

Very easy setup. AUDUSD is currently in a medium term uptrend. Dating back to early March, the 0.7400 - 0.7420 handle initially acted as resistance. Price then broke through and found support at this same level (blue boxes). Since then, price has created 3 new highs off of this support level (orange boxes). Look for another bounce off of the 0.7400 - 0.7420 level...