Hey Guys!
This is purely for educational purposes. Do your own analysis before placing any kinds of trades.
As annotated in chart, we could expect price to rebound from bottom of parallel channel to top of the resistance as marked in green @1.7500 range. This is purely a technical analysis. Do consider fundamental aspects of the current situations before...
Hi Peeps,
The trend line channel was broken from the top and we can clearly see that the market has been in a bullish move for past weeks right now.
(a) Bullish Scenario:
If price manages to retest the top of the trend line channel, there are 2 potential targets we maybe looking at as marked on the chart. Do always wait for the daily candle to close before you...
Yo Peeps,
Another interesting week up ahead. Following the weaker EUR from the last trading week, we should expect some strength in the EUR the coming weeks. Retracement has been in the 50 fib range and a huge rebound should signify a breakout from the falling wedge as spotted in the daily timeframe.
However, as gone down to the lower timeframe, i can see a...
Hi Peeps,
Tough week for the US dollar . We can see an impulsive rally for Gold and it has even broken the record high of 1981 zone a few days back. Given the analysis, I do see an ascending triangle formed on the hourly timeframe. However, before the move upwards to break the resistance zone of 1981, the price should find back support at trend line indicated....
Hi peeps,
Found an interesting set up for EURJPY which was worth looking at.
Currently the market is in a downtrend and we can clearly see that price rejection was pretty strong on the resistance / trend line channel. Thus, i do make of it that the price may continue down to the bottom of the trend line channel.
For a bullish divergence, the price would need...
Hi peeps,
As you can see from the annotated chart, the next point in the descending channel would be the next support line @ 0.6800 if price respects the movement down in this parallel channel. Price managed to reject the resistance line and broke down as per candle bar price rejections as seen.
Based on the other major touches in the trend line channel, we can...
Hi peeps,
As you can see from the analysis, trend line channel hasn't been broken on the weekly, daily and 4H timeframe, except for some false breaks and volatility due to fundamentals and uncertainties revolving around COVID19. Price is still continuing in this parallel line.
Most possibly, price maybe moving towards the downside to 63.20 range. Japanese...
Hi Peeps,
Price has clearly broken the trend line channel. I personally think this is a long bias as there is a strong support @ 0.6880. If it manages to break this support, the bias will be a short and the buy stop of 0.6950 which i placed will not be triggered in the first place. If price do manages to trigger my buy stop order, there will be a good risk to...
Hi Peeps,
Personally, I don't like to trade this pair due to the current corona virus situation. However, if you look into the technical aspects of the chart, the trend line channel was indeed broken with a bearish confluence being the engulfing candle.
Bearish Scenario:
If price manages to break the support line as marked in orange, the next target would be...
Hi peeps,
As you can see from the annotated chart, the next point in the descending channel would be 1.2200 if price respects the movement down in this parallel channel.
Based on the other points in the trend line channel, we can see that price has always respected the descending channel except for a false break which might have trapped the buyers into a...
