EURGBP has managed to break out of the Daily triangle, leading to an imminent leap of faith to the downside, but as always we must keep an eye on the latest UK/EU news due to the political uncertainty of brexit and its effects on this pair.
We expect a retest of Daily support.
Trade safe and use proper risk management.
USDCHF has finally broken out the downtrend on the lower time frames. An strong February NFP data and a long waited Fibo-retracement should boost the dollar higher before we can see another drop.
We can see that the currency formed a reversal pattern on the daily chart ( inverted head and shoulders) and it's currently being held up by the 50MA which is also...
USDCAD has been going on a downtrend for some time. Even though it looked like it was about to take off on the last impulse, the breakout was pulled back into the downtrend, meaning that we can expect a continuation of the downward momentum.
We expect the USDCAD to keep the downward momentum for the following months, keeping an eye on oil prices as this...
GBPJPY has formed a triangle on the 1D chart, this could be a great opportunity to buy for swing and intraday traders. To trade this idea you must first wait for a breakout of the triangle on the 1D and an entry structure on the 4H chart.
Trade safe with proper risk management.
US30 or DOW Jones have finally made a long waited retracement. This 60% Fibonacci retracement could go both ways if we look at the technical analysis. First we must understand that this drop of a 60% could be attributed to the investor's reaction to world news and the fear of a recession in the US. News of the Novel corona virus could have triggered the "sell...
GBPNZD It's showing clear signs of an uptrend for the swing traders on the 1W and 1D chart. We can see long engulfing candles for this week and last week's candles. If we head to the 1D chart we can see how price bounced off a 50% Fib retracement, finally drawing a trend line for our uptrend on the Daily chart.
To ride this wave for big long term profit we will...
EURJPY has broken out of the shown structure. We could interpret this action as a sell signal. We might see a pullback back to the broken structure for a brief retest of it. Wait for the pull back or a clear entry signal on the lower time frames for an entry.
Bitcoin has continued to impress after last year's drop. We're now approaching a key resistance. We might get a retracement here or a likely continuation to the golden box area, but overall Bitcoin looks bullish with a lot of upside potential. We're looking at buying the dips.
GBPJPY Could be dropping back to daily support levels. Just as shown on the charts, GBPJPY has failed to make fresh heights for the second time, leaving us with a beautiful AB=CD pattern with bearish momentum after being rejected from the 50% Fib retracement. We could take this as an opportunity to sell.
GBPAUD it's currently trading under heavy selling pressure. Here's a trade for next week. We'll expect a pullback to the sell area for a 50-60% retracement and then short withing this area targeting lower levels.
After gold rallied to yearly highs due to geopolitical tension, the price of the shinny metal went on a selloff after the deescalation of the matter. Gold will continue to selloff, but after that huge drop, it'll need a 30% to 50% retacement before we can look for a sell.