After hitting our uptrend targets...EURJPY formed a double top with a consolidation near support/ bearish flag. A break below the bearish flag could present a potential downtrend.
Downtrend targets will be the 50%, 61.8% or even 2 Apr structure low of 124.489.
However a close above the double top pattern will cancel out this downtrend analysis.
AUDUSD could potentially have a downtrend as long as prices trading below the 0.7165 in the daily or 4hr timeframes.
Potential targets are either the 50% or 61.8% fibonacci retracement levels.
However a close above 0.7165 will cancel out this potential downtrend analysis.
Do double confirm with your own trade setups.
Happy trading =)
EURUSD could experience a potential downtrend because there is a double top in the 4hr time frame.
Targets are either the 50%, 61.8% or even the 1.1210 level.
However this analysis is invalidated when prices closed above the double top pattern.
...prices can stay above 125.960 resistance zone. If buyers can get the job done, we could potentially see prices going for an uptrend.
There are 3 uptrend targets, each are highlighted in green.
However this entire bullish uptrend is trashed when sellers forced a close below 123.700. This is because a close below this level means the structure is still a...
KO managed to close sustain above the 200 days average for the 3rd trading day.
We could potentially see prices rally and retests either of the 3 green targets, as long as prices able to sustain above this crucial average.
However, a close below the red support line will cancel out this uptrend analysis.
prices can break above RM2.35. If buyers done that, the bullish flag pattern is valid and we could potentially see prices trend towards either of the 2 green targets.
a close below the red trendline will negate this uptrend analysis.
EURUSD is poised to have another breakout towards the upside. The catch is prices need to remain above the green trendline.
Potential targets can be considered at the respective Fibonacci levels.
This uptrend potential is cancel out shall prices break below 1.12 region.
Do plan your trade and trade your plans. Happy trading.
USDJPY could potentially start a downtrend shall prices able to close below the red trendline.
Potential downtrend targets will be 110.800 or even 109.600. However this downtrend analysis is negated if prices broke above the green trendline.
This because a close above the green trendline will spark an uptrend towards the 114.500 or even 115.600 levels.
EURUSD broke out of the upper trendline.
Prices then faced selling pressure and retested the upper trendline resistance turned support.
We can expect EURUSD had potential towards the upside, as long as the upper trendline resistance turned support hold.
However a close below 1.13 will cancel out this analysis.
Plan your trade and trade your plan.
USDJPY has been consolidating between the green and red trend lines for quite some time. The market is preparing for a major trend.
Here are the potential scenarios.
A break and close below the red trendline will spark a strong downtrend.
On the other hand, a break and close above the green trendline means USDJPY will resume it's strong uptrend.
At the risk sounding like a broken record... trading is a game of planning and probability. A break and close above the green trendline is a welcome message for the bulls. We could see market potentially reaching 1,750 or even 1,800 structure. A break and close below the red trendline is a good news for bears. We could potentially see the market retest 2018's lows...
there is an unusually large bearish pin bar on the back of a fundamentally important news event.
This is one of the likely scenario that will happen, AUDUSD could have a brief retracement towards the upside.
But as long as this bearish pin bar is not negated (above 0.732-0.733), the pair is likely to trend lower towards either one of the highlighted green...
AUDNZD had formed a 4hr pin bar. There is possibility of an uptrend with potential resistance zones at the highlighted green lines.
However, this uptrend is negated if prices below 1.086 zone.
Plan your trade and trade your plan.
Further downside is expected for BTCUSD if sellers can secure a close below 6,500.
Otherwise, a close back above 6,800 will signal to us that the buyers may push the market upwards.
Trading is all about planning a few potential outcomes and waiting for the trigger.
EURJPY 4HR showing potential BULLISH bat pattern formation with D leg at 127.700
however this pattern is invalidated if prices breaks below the 127 level.
This is not a buy/sell call. Do double confirm with your trading plan.