Last week price was met with a strong reaction at 0.6500, an important level for KIWI. Last time price traded at this level was in August after which a 900 pip move to the downside followed and a bottom was later found in October around 0.5500. Since then, buyers have been in charge and have brought prices back to 0.6500. For the first time since October we have...
From the last update a week ago price was wedged between support and resistance below 1800. On Tuesday we then saw price spike to the upside triggering buy orders as well as taking out any stop losses above the zone. Price consolidated above the 1800 zone until Thursday enticing even more buyers to go long. A strong reversal then came on Thursday which saw prices...
From the last update a week ago price was approaching the end of consolidation inside the triangle. On Tuesday we then saw price 'Fake Out' to the upside triggering buy orders as well as taking out any stop losses above the triangle. Price consolidated above the zone for 2 days enticing even more buyers to go long. A sharp reversal then came on Thursday which saw...
Pressure building as consolidation looks like it may be coming to an end as the market prepares for the next move to close the fourth quarter of 2022. It has been a dreadful year for crypto, but it may not be over. How worse could it get for Etherium before the end of the year? Tick Tock....Tick Tock...
Pain and blood this week as we saw the bears step in for what could be the beginning of another impulse leg to the downside. For the 4th time this year, price has respected the descending channel and formed a new lower high around 4100 last week. All eyes and ears are on the CPI and Fed statement this week which will be critical in determining price movement into...
After breaking below the 1800 level back on July 5th, Gold retraced and came back for a retest from below and found resistance around the 15th of August. Bears stepped in again pushing prices lower to around 1615 levels where it bottomed. After finding support at 1615, Gold has now returned to 1800 once again and is currently trading in a rising wedge and is...
As interest rates continue to rise into the new year, things are looking like the worst is still to come. How much more pain is still to come ? 3200 ?
A bullish month for AUDJPY. As price consolidates to close the month, Can we still go higher or it's time to sell?
USDJPY (Daily) - Last week the Yen finally broke out of the 12 week consolidation zone with a strong impulsive move that came on Thursday. We saw the move violate both the 110.500 and 110.000 levels which are important numbers followed by a retracement move which came on Friday to retest the zone. As long as price remains outside the channel, we can expect more...
AUDJPY (H4) - Earier in the week we saw price impuse to the downside before it hit support and pulled back. It now looks like the correction move may be coming to an end and we may see another impuse which could potentiay break support and sink the pair lower.
Following yesterday’s sell off Gold appears to be forming another continuation pattern this time on the H1/30min timeframes. Price is currently wedged bewteen support and resistance and break of support could see gold sink even lower in the next few hours into tomorrow.
AUDUSD (H4) - Last week we saw the Aussie make a corrective move back to 0.76000 following an aggressive sell off from 0.77000 the week before. The market closed just below 0.76000 on Friday with a pinbar on the daily timeframe after price tested the level from below and failed to close above. On the daily timeframe this level is also currently acting as a...
Weekly Head and Shoulders? Strong bearish close last week on the weekly after bears stepped in from around 1.21500 driving market prices lower. This has created what seems to be a right shoulder with price pushing towards the neckline for the completion of the pattern. High volume and a strong bearish engulfing weekly close last week indicates that sellers have...
Weekly timeframe Double Top? Strong rejection to the downside after price, for the second time has failed to break above 1.41200 in recent weeks. A strong bearish engulfing weekly close last week indicates that sellers have now stepped into the market. 1.37000 is the next support level which is also acting as the neckline for a potential double top pattern...
Price holding above psychological level 1.27000 following successful retest. If price remains above zone we can expect buyers to step in between tomorrow and Friday and possibly drive the pound higher to around the 1.28800 area. Break of trendline confirms entry.
The market recently rallied up and broke 27.00000, a psychological key level. Last week saw the market pullback correctively and find support above the level. If buyers remain in control, we expect the market to push higher this week with upwards targets around the 28.00000 zone.
Following an impulsive move to the downside last week, EUR-GBP has returned to 0.86250, the previous level of structure which was acting as support before the market broke to the downside. If the level holds early next week it is possible that sellers may once again step in and attempt to drive the market lower with potential targets to around 0.85250 levels...
Following an impulsive move to the downside last week, NZD-CAD has returned to 0.88000, the previous level of structure which was acting as support before the market broke to the downside. If the level holds early next week it is possible that sellers may once again step in and attempt to drive the market lower with potential targets to around 0.86000 levels...