GBP/EUR is in an overall downtrend. Double top setup is in place. Price has retested neckline. Now price will probably consolidate considering that it is now hitting a key level. Ideal move: Price breaks key level and falls to the downside. I think the probability of price going to the upside is about 25% and price to the downside is about 75%. Trading Journal...
USD/AUD is approaching a level of note. Price has broken and retraced from this resistance level before. Overall I think price will consolidate in this level for a bit and then choose either to head further up or reverse to the downside. Either or it is important to be ready for both. Trading Journal #4
USD/CAD - Trying to apply some new techniques learned from the Trading Academy. #TradingAcademy #ApplyingthePrinciples #PriceAction #LongTerm Question: What could price do at its current level. Key Point: Look for an area of retracement Trading Journal Entry #3 - Austin S.
EUR/USD will be my go to pair for the year. Price is close to Minor Support Level. We currently have two bullish candles at the minor support level but there is a bearish engulfing before it. I envision a little pull back to the upside and final breakthrough to the downside or breakthrough to the downside for the longterm. The Bears have momentum on their side....
Currency Pair: USD/JPY Date: May 03, 2019 This is an application of the few rules I have learned about trading forex. - Support and Resistance - Pattern Trading - Price Action - Trends Some thought on this pair: The pair is kind of wedging up. It is creating a point of pressure in that price will have to either do one of three things. (1) Bounce (2) Break (3)...
Currency Pair: USD/JPY Date: May 03, 2019 This is an application of the few rules I have learned about trading forex. - Support and Resistance - Pattern Trading - Price Action - Trends Some thought on this pair: The pair is kind of wedging up. It is creating a point of pressure in that price will have to either do one of three things. (1) Bounce (2) Break (3)...
Currency Pair: USD/JPY Date: May 03, 2019 This is an application of the few rules I have learned about trading forex. - Support and Resistance - Pattern Trading - Price Action - Trends Some thought on this pair: The pair is kind of wedging up. It is creating a point of pressure in that price will have to either do one of three things. (1) Bounce (2) Break (3)...
Currency Pair: USD/JPY Date: May 03, 2019 This is an application of the few rules I have learned about trading forex. - Support and Resistance - Pattern Trading - Price Action - Trends Some thought on this pair: The pair is kind of wedging up. It is creating a point of pressure in that price will have to either do one of three things. (1) Bounce (2) Break (3)...
Support and resistance are clearly defined. Fibonacci indicates strong resistance at level 0.618. on the 45-Min Timeframe. Waiting to see what candlestick shows next. Question: Would this be considered a double top? Key Points: - Support and Resistance - Fibonacci indicator - Down Trend
NZD/USD is in a strong downtrend. Major support level has been broken once. I forsee a retest of the new support once resistance level 1 and 2 are tested. Bears have the advantage at this point.
Looking at this chart I see a future layout on CAD/CHF. The current price of sits at around 0.72863 right around at 0.7235 (previous support level), I think a rally could happen in the next 1-2 days if it hits the support zone. Once support zone is hit, price could go as high as 0.73395 to the previous support zone that turned into now resistance. If price reaches...
Here is my analysis for AUD/CAD. If you are a swing trader, you can use this as a guide, but I here are my forecasts of where price could probably go. Chart has been attributed with a good visual representation of levels of support and resistance, market sentiment and overall movement of where price could be headed. The doji formed at the "bounce or fall level...
Spotted a Bullish Pennant on USD/CAD. Price is at a resistance area but the bulls look like they are gaining some momentum by passing previous resistance. I think there will be a high chance of breakout to the upside soon. Risk to reward ratio at a two; adjust take profits along the way. I'm rooting for the bulls on this one folks. Good luck.
In this EUR/USD analysis I am using the 15-min time frame. On the monthly and weekly chart for EUR/USD the pair can be seen in a current uptrend. Price may continue to go up from its current point but If I were to enter I would place my entry at retrace a little but the pair looks strong. As a day trading perspective this analysis I would enter this pair at the...
Major resistance at 0.79950 - 0.80016 Zone; Fibonacci Retracement Level 0.236 - 0.382 - Probable retracement back to minor support zone at 0.7980. Looking forward to see how this one plays out with current downtrend.
GBP/USD broke its 1st major resistance level and may soon be on its way to breaking another resistance level. The US Dollar is at a weak point right now but the GBP is looking healthy. Future economic news could push the U.S. Dollar further down and GBP well much higher. You might want to keep an eye out for this pair; I see a lot of good opportunities coming....
I analyzed this chart with the intention of helping you see the bigger picture of where the overall currency pair is heading. The Euro looks like its in a uptrend but it also could be in turn for a downtrend. In my educated opinion, I think the currency pair holds strong bullish sentiment and is riding to some higher highs unless some economic events unravel...
Horizontal lines are set at basic support and resistance levels. Colors represent the past and future battles between Bulls and the Bears. Will the Bulls push pass resistance at 1.05? I think they have a high probability due to a strong Resistance 0.90. The Bulls have some great momentum. Keep an eye out for this battle of the greats. Good luck trader.