I analysed this pair last week, speaking about this level we are currently at saying we should get a move down from here, if price prints and closes a nice confirmation candlestick this would be a beautiful trade setup for shorts. Price broken out of ascending TL, printed lower low, stalling at 50EMA, structure level and 38.2 fib level.
Price has recently made a lower low, signalling the change in trends after creating a double top, we are now at an interesting level (50 EMA acting as resistance, structure level acting as resistance and was very few pips away from the 38.2 fib level. If we get this wick close which price is printing at the moment I will enter this trade tomorrow morning.
We can see price is now in an uptrend on the 4hour chart as we broke out of this descending trendline very impulsively to create a higher, we are now in an area of interest and looking to confirm this higher low. Longs do look good from here as we have a few confluences which include, 50 fib level, structure level and 50EMA all acting as support. Price also looks...
Price has broken out of our descending trendline, created a higher high, and broken above previous resistance level, therefore we are now changing trends and bullish on this pair on the daily timeframe, before entering longs I am looking for price to retrace into this 38.2 fib level where we have a few areas of confluences (structure level, 50EMA) and looking for...
We can see price has fallen out of this ascending Trendline, confirming a lower low, we also saw this head and shoulders formation which has been highlighted which caused price to plummet down. I would not be surprised if we got a deeper retracement into the 71.8 fib level where the neckline of the head and shoulders was formed, also the 50 fib level looks like a...
Price has now broken out of this descending TL, and retraced into the 38.2 fib level. With a weak NZD and GBPUSD ready for a retracement I believe we will ger a push higher in this pair. EYES PEELED ON 4HOUR close, if we get a doji candlestick like this I will enter this trade.
Price has fell out of this ascending Trendline and confirmed we will make a lower low, however there is no sign of price stopping yet, I do believe we will stall at this level however and have a slight retracement up to the 38.2 fib level where we have a few confluences (50EMA and previous structure level). If this trade plays out how I expect it will be nice...
Buys look good from this level on the 4H chart, as we have price hitting the ascending TL for the third time, a retracement into the 78.6 fib level with a rejection doji candlestick, and also the 50EMA acting as support
As we can see price has broken out of this previous support zone and an ascending trendline which can be seen more clearly on higher timeframe, therefore we have confirmed a new lower low, I am looking to get in on a confirmed lower high and catch this new trend, the 38.2 fib level and old support looks like a good place to sell this pair if we get the right price...
Daily Timeframe we can see price has fallen out of this ascending trendline after 3 touches and has now made a lower low. 50EMA acting as resistance today and we are also at a structure level which is more than likely to serve as resistance 4H Timeframe- we can see price confirmed this lower low and is now retracing, we have a retracement to the 50 OR 61.8 fib...
We have entered a really nice level of interest here which I stated could look like a nice long on Monday, we are now at the 38.2 fib level, strong structure level and the 50EMA all have to break for support to be broken. However because of how impulsive the previous candlestick is I am waiting for this 4h close first, if we get a doji candlestick of some sort, I...
We can see price has moved very impulsive since the Breakout of the ascending TL, however we are now in an area of interest, we have to 50% fib level, previous lows acting as resistance, we can see a double top and a bearish wick candlestick to confirm this entry. The only timeframe this doesn’t look good on is the 15m, however these higher TF’s are much more...
As we can see price has correlated since creating this new higher high after a breakout of this descending TL, and we can see that we are on a strong recent support level backing up this idea that we are due a break to the upside with DXY also breaking out of its descending TL and oil still looking weak.
Price is in an overall downtrend, forming lower highs and lower lows and a third touch of this descending TL, usually when we have an impulsive move like we have, we tend to see a retracement into the 38.2 region or the 50 fib region, here we have a retracement to the 50% Fibonacci level and with what looks like is going to be a doji candlestick candlestick, wait...
Price is in an overall downtrend, forming lower highs and lower lows and a third touch of this descending TL, usually when we have an impulsive move like we have, we tend to see a retracement into the 38.2 region or the 50 fib region, here we have a retracement to the 50% Fibonacci level and with what looks like is going to be a bearish engulfing candlestick, wait...
We can see on the 4H chart how impulsive price was last week and is now due a retracement, the 38.2 fib level lines up with a daily structure level (roughly) if we get a nice retracement down to here with a confirmation candlestick I will be looking to go long. Lovely risk to reward, nice and simple trade if it plays out.
Weak oil = weak CAD and oil is weak right now, its important we look at the legs of pairs, and CHF has been looking strong therefore this makes up for a great trade theoretically speaking. Technicals are also looking very clean, break of the ascending TL, making a new lower high and a lower low, I believe price will come into the 61.8 fib level as this was where...
Gold has been controlling the FX market in recent weeks, crushing the US dollar as it rises, however we know from previous data that gold moves in waves, it likes to correct for a month or so before the next wave higher. We can see price has been correcting since the 7th August (a month ago), we have respected previous highs as support with several wicks, the...