The pair broke the support at M_S1 early on the last week and then traded below this area the whole week. On the last part of the week, the bulls were a stronger and pushed the price above on the chart, reaching nearly the M_S1 again. We believe now that this support area is turned to resistance and if the price tests this area, there should be bears orders which...
On Friday, the pair closed in the middle of the channel created by the M_PP and M_R1, after previously having tested the M_R1 and getting rejected. Closing price at 109.97 leaves room for both moves, bullish and bearish. If we take into consideration the move from the short term perspective, we have been in uptrend since the 23 March 2018. Even though after...
For this week for the GBPUSD pair we expect some bullish price action to test the resistance at M_PP where we think price will find a lot of bears who will push the price down with very strong move. The area around the M_PP represents a support/resistance from the week of Brexit in 2016 so we think these levels are closely watched from a lot of traders. If price...
USDCAD was very bullish, notably on the last part of the week where it broke the resistance at the top of the trading range where the pair was trading, and on this strong move it also broke the M_R1 to reach almost the R2. With this strength of the move it may be hard to predict if the R2 will hold. It is also hard to get into trading positions since we have very...
Last week we had a very strong bearish price action on the AUDUSD pair as the price action now is happening outside of the inclining channel on which it used to move for a very long time. As we can see from the weekly chart, we have a very clear bearish flag pattern and from this we can conclude that now we may have a very strong bearish action. Based on this we...
Last week as expected, constantly offered good opportunities for long positions as the price action was pure bullish the whole week. The move was very strong and bulls pushed the price for more than 130+ pips during the week, with only one retracement which represented very good opportunity to add more to long positions. The price at the end of the week reached...
Last week we expected bullish move for the AUDUSD and the pair offered this on the first part of the week. Price opened a bit above the Monthly PP where we had planned our entry so we were out of the action for the pair with no position on the market. AUDUSD fulfilled our expectations and tested the Monthly R1 area, broke through it but did not manage to keep...
Last week we did not have a very clear expectation for the direction of the move since the pair was on trading lately on a narrow range. Last week was the same. For this week we expect the price to test one more time the Monthly PP at 1.2910 and then move upside at least to the upper part of the range, highlighted as possible resistance, but our expectations are...
Last Sunday when we concluded our weekly technical analysis for the USDJPY pair, we had strong expectations for a bullish run of the pair up to the Monthly R1. On the first part of the week the price action unfolded as expected but then on Thursday and Friday the bulls lost their strength and price returned back to where it started the week, on the Monthly PP...
As we analyze the Weekly, Daily and 4 Hours chart, we can conclude that the pair is in a very indecisive mood. The Weekly candle last week has formed a doji indecision candle, the Daily and 4 Hours chart represent a very narrow range trading which can be very difficult to trade. Even though we may have still to do with these narrow range movements, we will...
As we can see from the weekly chart, last week's candle represents a classical strong rejection candle on the area of Monthly PP at 0.7528. We expect that this area will be very important for this week too, as the bulls now may be keeping an eye on it and they can use it as initial place to start a strong move on the upside which may break the trading range the...
During the last week we saw a strong bearish move on the pair, which then reversed and on the weekly chart formed a hammer candle which makes us believe that the downwards move was a retracement and the uptrend is still valid. From this candle we expect that bulls will gain confidence and continue uptrend move to test the Monthly R1 area. Price last week closed...
From the current price action, we may expect the bullish run to continue for USDJPY pair as it has already broken the structure at monthly R1 at 110.691. If price falls down below the last higher low at 110.00, we may see a change in the trend and maybe the end or some retracement of this bullish run, otherwise we expect that the move higher to continue up to the...
Last week the pair had an overall bullish mood and reached above to test the Monthly R1 Point at 107.49. This zone represents a resistance zone and as expected price could not break above it on the daily chart, this way forming a nice bearish shooting star candle. We expect for this week now a change in direction, anticipating that the Monthly R1 will hold and we...
Last week we expected that AUDUSD will make a push on the upside to test the structure at Monthly Pivot Point area and then if the move fails to break above the resistance zone, we were going to take a short position in anticipation of a test of the bottom part of the channel which can be seen in Weekly Chart. This analysis for the last week failed due to not...
Last week, the USD gained some strength and went up on the chart to test the Monthly R1 zone at 107.49. This zone on the first test served as strong resistance structure where price tested several times but was unable to break above it. Then on Friday after the last test which also failed to break, price was pushed down by bears for about 70 pips where it then...
During the month of March the AUDUSD bears were very active, as we can see on the Weekly chart, every week of March was bearish. We can expect this mood to continue in April too as the price is expected to get lower and test the bottom of the channel in the Weekly chart. On the Daily/ 4 hours chart we can notice that we have a support area at 0.7670 which is near...
The pair closed the previous month with some strong bullish momentum making a move from 104.60 area to 107.00, then retraced a bit to 106.00. This strong momentum broke through very strong resistance trendline which held several times in the last few months and now we can expect that this resistance is turned to support trendline. Our expectations for the pair are...