Currently analysis showing a bullish pennant / bullish triangle pattern. Still very hesitant to get in on any GBP for the following reasons:
- Price is too high to start entering
- Major move has already taken place
- High volatility due to Brexit
To be a bull in this situation:
- Wait for confirmation of the triangle break as the price is very...
USDCHF 240 Short setup
- Price has recently broken the longterm trend
- Now in corrective wave
- Lower low waiting on confirmation of lower high
- Will allow for possible false breakout
Wait and see.
We are starting to see signs of momentum slowing down. Support levels set with next week/next months plans in place for a return to lows if key level is broken. Given the current economic conditions, we cannot rule out a possible bull rally.
The greenback is looking strong but it approaching some levels of resistance and should see tests of the...
EURNZD Weekly outlook
Price has been bullish since late July with no major pullbacks. We did see some small areas of consolidation but nothing too major from the bears. We now have a triangle pattern forming with a key level highlighted in yellow. 2 plans on this:
- To be a bull in the pair ideally we would need a break of falling resistance and...
USDCAD weekly outlook:
Seen a recent double top formation with a strong uptrend holding. Naturally, we are looking to break this line and rally back to support levels. We still have to consider further bullish control if we break above the highs.
- To be a bull in this pair we are waiting for a break of trend and target previous levels. USD is...
USDJPY weekly outlook -
Long term bearish trend with some short term bull momentum following wedge breakout. Is there a potential for an inverted head and shoulders pattern? Not putting all eggs in one basket on that plan but could happen.
Rising trend line heading to key resistance above means we are waiting at this level for price to test and...
This pair has claimed retail trader accounts since mid-2019. Traders thinking they have found the top but with Brexit talks very much a hot topic.
Price has found a bullish channel after breaking yearly highs and recently broken the midline. Previous high acting as support with S1 pivot right on top. Will wait on this level for...
GBPUSD 240 Analysis
Been in a long term downtrend within the channel currently grinding lower with Brexit talks and a strong US economy with a newly resolved trade war and strong data.
- THE BE A BULL: We are now seeing a rising uptrend; if we can break above the channel mean then some short term buying can be a potential setup but still...
EURUSD setting up a nice spike and triangle pattern here. 200 moving average holding the falling resistance well for now but the spike is hard to ignore. Seems the bull objective would be a return to the previous highs or a long term level of falling resistance. Currently, price is in the middle of the triangle so no trade here. Will be monitoring for a break in...
A quick analysis of the 1HR chart, Waiting on the next few candlesticks for confirmation on the next move.
Both 1H and 4H showing divergence on STOCH RSI for the possible bearish move and break trend support, waiting for more confirmation on this. Price has tested 0.882 for a double top and possible triple top. Will be waiting for RSI to be oversold and coming...