With DXY weakness EURUSD keeps growing.
We saw a nice expansion this week and it's time to look for the next strong supply area.
I am paying close attention to the confluence area between:
1.2 horizontal resistance (current structure high);
Rising trend line ;
1.272 extension of the last bullish leg.
I won't expect a...
Gold broke key level again.
And though I was quite confident in 1800 level, after two day's consolidation the price has easily broken that.
With yesterday's daily candle close I expect a bearish continuation next week.
The area around 1750 will be the next goal for sellers based on price action in May/June.
gold just reached a strong falling trend line .
for now we see a positive bearish reaction from that and this touch may initiate a strong bearish swing move.
I will pay attention to a support line of a bullish flag pattern.
in case of a daily candle close below its support, bearish continuation will be highly...
I have analyzed the strongest bearish rallies on gold since 2017.
What I noticed is that both the selloff of 2018 and 2020 made gold lose almost 15% of its value.
a new bearish rally that started in august has already corrected the price by 10%.
Even though the trend remains sharply bullish , it looks like we...
I know that many of you are struggling with making long-term predictions on wti.
being fundamental trader or technician, the future right now is unknown.
the only thing that we must admit for now is that the market is currently consolidating.
we broke below the uptrend parabolic channel and now we are trading...
though bearish movement on eurusd is officially started,
always remember to look left at structure.
the market is very close to a key monthly/weekly support cluster
based on 2015's - 2020's price action.
with average weekly atr, chances are high that this level will be reached quite soon
and then most likely a...
gold is still stuck in a correctional structure.
the price is weakening within a descending triangle formation and expansion is coming.
for now keep following the price within a triangle and consider intraday short and long opportunities within that.
it you want to make an accurate long term prediction, breakout will...
I am one of those traders who are waiting for a strong correctional movement on dollar.
during many weeks I am looking for reversal clues on EURUSD .
one of those is a lower high formation within the expanding channel that the price is currently following.
it is a strong indication of a weak bullish sentiment...
Gold is becoming weaker and weaker.
lower highs are closer and closer to a yellow horizontal daily structure support.
this trading week the market was phenomenally slow and we didn't see even 1 strong bullish/bearish candle.
currently, it is better to stay away from gold and wait until the market will start moving.
+4.5% growth during the last 10 days on EURGBP .
Pound keeps losing its grounds on brexit news.
however, based on 3 days chart analysis you can see that the market is facing a crucially important zone of supply.
its lower boundary - 0.93 level is based on 2019's structure high (immediate bearish reaction followed and -10%...
Crude oil lost almost 10% from the 26th of August.
clearly, 43.5 is our new key daily structure and currently, it is the closest strong resistance.
the closest support is quite far.
34.4 - 36.2 is the first strong support based on this year's price action.
the next support is lying within 27.1 - 28.7 also based on this...
EURUSD has perfectly closed on the support line of a rising parallel channel .
as it been said earlier, we still remain bullish biased until the market is trading within.
however, the market is clearly slowing down and we must consider that.
for that reason, we should be prepared for a bearish breakout.
Confirmed violation of strong horizontal support and new lower low lower close on a daily on EURGBP .
now bearish continuation is highly probable.
The next strong support is based on June's structure and 618 of the last bullish impulse.
0.8875 is the first goal for sellers.
In case of a further decline, the next goal...
if you are struggling to make predictions on gold atm, you are now alone.
I am also stuck with its price action and behavior during the last two weeks.
technically the price is now trading in the middle of August's trading range.
the support of the range is based on the rejection wick of 12th august candle and two major...
on Thursday NZDUSD broke below a 4H structure support.
the breakout is considered to be confirmed and on Friday the price retested the broken level.
Friday's high momentum bearish candle indicates the prevailing bearish sentiment.
on Monday the price will most likely keep falling!
those who will trade the market opening...
though during the last few weeks EURGBP remains quite weak,
we should remember that technically the trend is still bullish and the market keeps growing within the expanding wedge pattern.
during the current trading week, we saw a false violation of the support of the wedge .
trading for a couple of days below that, bulls...
USDCAD is currently trading in a strong bearish trend .
during the last few days, we saw a nice pullback though.
friday's candle closed on a resistance line of a falling channel .
matching with fib.levels of the last legs and a horizontal structure on the left,
the price is now clearly trading within a strong structure...
EURUSD is trading within a rising parallel channel on 4H.
the resistance of the channel was reached on Wednesday and the market set it's last higher high there.
during the next two days the pair started to consolidate:
with a sequence of three equal highs and two equal lows, the price is stuck in a narrow horizontal...