CHFJPY could not pass 78.6% Fib Retracement level which comply with resistance. It has broken the trendline meaning bearish momentum takes place. Wait for it to pullback for short as the price has already moved.
TP at 114.314
CADJPY closed at 61.8% of Fib Retracement expecting to go up. Wait for the confirmation first and the price is still consolidating in the SnR zone. The break of either zone indicates the momentum is bullish/bearish.
AUDCAD could not pass 61.8% Fib level and the recent candlestick showed a rejection to the engulfing base meaning it may go higher. TP1 is at the premature level and if the price breaks the level (0.96360), there is a high possibility it will go to TP2.
This technique will decide when to take profit from the exact Fib level and know how to identify the premature...
Risk-on market sentiment means USD becomes weak and give support to Kiwi and Aussie
The chart has reached premature points with a possibility to make Higher High. TP as in the chart.
Fibonacci students will know what does it means with premature point and how to get TP using Fibo only.
CADCHF will start to rebound and follows the trendline. A break below the trendline and resistance will bring the price downside.
TP for long and short entry can refer in the chart.
My students will understand how I work with Fib Extension and Fib Retracement in finding Entry price, TP and SL
This pair dropped below last week's 1.3100 mark and close at about 1.3080 near its weekly low. Continuous support shifts to 1.3040.
The price has reached the point where Fib Extension overlapped with Fib Retracement. So I'd expect it goes upward and a break above 1.31405 to tell that the next resistance is 1.32042.
A break below 1.3038 is needed to reassert a...
The initial litmus test remains the zone around 1.1790 which then focuses on the 1.1760 level, but the 1.1700 psych level remains crucial to entertaining the concept of a reversal.
If Bulls drive the price higher from here, the level of 1.1920 becomes the nearest level of resistance until the level of 1.1965 and the upper side of the long-term symmetrical...
AUDCAD has formed the double bottom pattern and now is in consolidation phase at the area where Fib Extension overlapped with Fib Retracement which complies with the previous resistance before continue going up.
The suggestion by Governor Adrian Orr that the Reserve Bank of New Zealand "actively prepares a set of additional monetary policy tools to be used if necessary" had surprisingly minimal effect on the local currency, as it erased annual losses and moved to a fresh annual high against the US dollar on September 2. This indicates a strength in NZD
The currency of the Eurozone rose against the dollar as the Euro reached a two-year high on the last day of August. However, recent price action on the back of disappointing Euro CPI data has shown that Euro trade is lower than Pound, bringing a number of key levels into focus.
EURGBP has created a new LL. It may pullback to the...
President Christine Lagarde and Co. may continue to stress that the EUR 1.350 trillion envelope for the Pandemic Emergency Purchase Program (PEPP) 'should be considered a ceiling rather than a target,' and that the Euro will continue to outperform its US counterpart ahead of the next ECB meeting on September 10 as the central bank speculates on additional monetary...
In my previous analysis on AUDCAD, it began changing trend from downtrend to uptrend. So we are going to have long.
It looks like AUDCAD had touched the point where Fib Extension overlapped with Fib Retracement. Still not too late to enter long now.
Negotiations between the United Kingdom and the EU hit a stumbling block on state aid laws and reopened no Brexit agreement. This indicates a strength in GBP.
GBPUSD will bounce to one of the Fib Extension entries which comply with SnR and continue going upward
At the Jackson Holeeconomic Policy Symposium last week, Federal Chairman Jerome Powell sent a direct message to stock investors that the central bank would allow inflation to be exaggerated for a period of time before stabilizing at a 2% long-term target. In the near future, the Fed is likely to remain supportive in its monetary policy, even though the economy...