As the world's second-largest producer of gold (third largest some years), the Australian dollar has a high positive correlation with the precious metal.
Therefore, it has gained more momentum compared to other major currencies coupled with the weakening of the dollar.
Technically; this pair has failed to retrace into her channel and respecting her key level...
Although Yen is losing momentum against other currencies in the past two months, but it's getting stronger against Dollar.
At higher TF, the price currently forming the handle of the cup where we can see the price moves in the channel since Dec 2016.
The price has just broken and retest the structure and now in its initial phase of the 5th Elliot wave.
USDCAD has been ranging for past few days and it finally makes her support at 1.31340
However my bias still remain BEARISH for this pair.
I expect the price makes a temporary pullback since it crosses with trendline drawn from 2015.
With divergence identified at H8 TF, I expect it will break the trendline after forming the double bottom in the triangle.
If you look at the chart at bigger picture, you would find this pair has been bearish since Dec 2014 where we can plot two trendlines forming a falling wedge pattern.
In March 2020 , this pair has bounced from it's major TL drawn from 2007.
Price has break major key level - SBR zone at 69.550 - 69.590 and it also break the upper TL of the falling wedge.
The market sentiments for this pair has been Bearish since June.
We should aware of how the institutions love to take this opportunity to play with the trader's sentiments.
Two days ago, on the 12th August London session, the price makes a sudden huge reversal candle clearing up the liquidity before
heading back to the bottom today.
As a retail trader, we...
As dollar fumbles, sterling found its strength in recent weeks coupled with effective Brexit deal and stimulus package worth 30B pound sterling .
This would be a great opportunity for all GBP pairs.
GBPNZD has already geared up to its nest and now its GA time to follow the suit.
All the best.
Last week price breaks the weekly ascending channel and currently, it retraces back to the major and minor trendlines
forming the right shoulder of H&S pattern.
This would be a great opportunity for short with a good risk-reward ratio.
On monthly analysis, price is making temporary pullback after having consecutive bullrun during the end of July.
Price has just completed the first leg of the impulsive move last month and it hit all our TPs as expected.
Currently, it is in the corrective phase forming the right shoulder of the HNS pattern in the rectangle shape - entering the reversal phase.
I expect this pair will be making a temporary pullback to the Demand Zone before continuing the 2nd phase of...
NZDCAD has remained bullish for a couple of weeks and if the dollar continues to depreciate,
I will be expecting the momentum continue to be the same in the long run.
On annual TF - price moves in the bullish cup and handle pattern
pending breakout of the monthly channel.
While on the daily TF, it moves in the expanding triangle.
Both of these, couple with...
This is an intraday opportunity.
CADJPY has been moving sideways and downtrend in the past few days.
Trendline Breakout has been identified KIV formation of right shoulder at H2 TF.
This would be a great opportunity for LONG with good risk reward ratio.
Setup invalid if break key level.
All the best!
Cup and handle is a trend continuation pattern and if it is formed at higher time frame,
it is highly significant and in this case, EURCAD will continue its bullish momentum.
There are multiple entries you can take here and in this case; with the highest risk reward are the
i) SHORT opportunity during the course of handle formation.
ii) LONG opportunity from the...
Last week, Swiss currency is the strongest of all and we expect it currently in its exhaustive phase in the coming weeks.
We could take this opportunity to capitalize on other currencies.
At weekly TF, CADCHF is trying to make a U-shape pattern and this would be a great opportunity for long with good risk to reward ratio.
This is a long term idea.
Hi guys, we have seen that the price has tried multiple times to break the upper TL but failed.
Instead, price moves sideways in the bullish pennant for the whole week.
We hope that we would see an impulsive move next week and if this happens, 200pips is all yours!
Good luck guys!
Price has finally come down in the HNS pattern (yellow) and making a pullback today in a small triangle (green) and this will be a good opportunity for SHORT as it moves in the bearish sinusoidal momentum forming the Right Leg of HNS. All these combinations of chart patterns in one setup is totally unique!
Good Luck guys!
Price move in ascending triangle pattern and has tested weekly trendline thrice and it's getting weaker. Today it's gonna made the 4th attempts and this will give you a good opportunity for LONG.
Good luck guys!
POSSIBLE LONG OPPORTUNITY - 1100 PIPS (DON'T MISS THIS SETUP)
RRR : 1: 6 (3.64%)
1. PENDING DOUBLE BOTTOM FORMATION AT THE END OF BEARISH IMPULSIVE WAVE
2. TREND REVERSAL PATTERN AS SEEN FROM TRADER DYNAMIC SEQUENTIAL
1. DAILY RSI DIVERGENCE
2. WEEKLY DIVERGENCE AT SENTIMENT ANALYSIS
MONTHLY : DOWNTREND