NZDJPY has been creating lower highs inside of the above triangle and in addition to this fact price rejected the last resistance at 87.00 . The fact that we are seeing lower market structure and the fundamentals not being so good for the new zealand dollar is in my opinion that a push to the downside in the near future might happen to the following targets ;...
The overall trend is bullish and CHFJPY seems to have found support on the 15min timeframe at around 165.60. From this level, ptice has formed a triangle that would require to be broken tot he upside for the trend to resume higher. If broken, my targets are at 165.66 , 166.09 and 166.35.
Happy week traders, I hope you had a great weekend! Today, we are looking at USDJPY which is in a strong uptrend even after the last CPI number that was lower than expeted. Usually, when an asset continues a trend even with conflicting data it means the trend is very strong and is not about to stop. Technically, we can see that price formed a rising wedge that was...
CADJPY has been forming higher highs and higher lows inside on this ascending channel confirming that the overall trend was bullish. Last sessions, price came and retested the support at 107.50 which had already been a solid one in the past. At the moment, what we see from price action is a break of the last high that showns strong momentum to the upside... My...
Since last week, EURZAR has been in a strong uptrend from the 19.40000 level. Recently, we have broken out of the descending channel that was maintening it inside a bearish structure. What we are seeing now in my opinion in simply a re-test of the 20.6500 level that was a resistance and is about to turn into a support to continue higher up to 21.3000 probably next week.
EURCAD has found support at arounf 1.45 and failed to create a lower low. It has now broken the trend line that has supported the downtrend wich probably means that a upside continuation will happen in the near future.
EURUSD found substantial support at the key level of 1.0920, demonstrating the significance of this price zone in halting bearish pressure. Furthermore, a decisive break above a crucial trend line has signaled a potential shift in market sentiment towards the upside. This break indicates a potential trend reversal and suggests that buyers are gaining strength. At...
EURJPY seems to be forming a higher market structure suggesting a bullish continuation in the near future . I have also marked the 2 last lows consecutively higher inside of the triangle formed on the 2 hour timeframe. For this setup to be valid, we would need a break of the last high at 157.52 to see price go higher to TP1 and TP2. More details in the video...
USDJPY found support at 141.60 and just broke out of the triangle. Upside continuation is to be expected...
The Rba (reserve bank of Australia) decided not to increase its rate by 25 points as expected but rather to maintain its rate at 4.10%. This decision triggered a sell-off of the Australian dollar on the markets and revived EURAUD, which for a few days had been a little undecided... More details in the video
EURCHF has recently made a small uptrend inside but failed to reach the last high at 0.9650. We saw a loss of momentum leading to a bearish divergence and also the break of the last low. We could be forming a new lower high before heading to 0.9570.
EURZAR has rejected a resistance at around 20.40 and has created a double top, creating a faekout. The pair has failed to create higher market structure and a loss of momentum next week would make price fall.
EURUSD found support at 1.0920 and managed to stay above this level. At the release of the nfp report we saw EURUSD break above the last lower high and is now starting to retrace towards the 50% Fib retracement level. My target after that will be at 1.1140. More details in the video...
AUDUSD has been consistently making lower market structure. The level at 0.6750 was a support and this morning it just turned into a resistance suggesting the trend should continue lower. More in the video...
In this video, I explain the potential bearish scenario that could play out on EURJPY. Details in the video...
EURJPY has just hit a major resistance at 157.20. I am waiting for a confirmation of lower market structure on the lower timeframes...
EURZAR has been in a bearish market structure for the past few days. The pair created lower than previous highs and lower than previous lows confirming the trend all the way. Right now we have been testing a key support which if broken will accelerate the new bearish leg. More details in the video...
CHFJPY has been in an uptrend and has seen a very extended move to the upside after Japanese inflation came out. At the moment, we are seeing ahealthy pullback being made towrd the daily pivot point before in my opinion continuing the move to the upside.