The market has been consolidating on a 200 pip range between 138.00 - 140.00 for sometime now. This price zone is also previous resistance, now turned support. A bullish trend was established on USDJPY on March 2022 when the FOMC started hiking the Dollar interest rates. For the first time since then, the FOMC is expected to pivot the rates at 5.25% this week....
For the last three days, the market has been opening ,selling and tagging the 138.00 prize zone which is previous support/resistance. Since the opening of the July's monthly candle, the market has been on a downward correction. The most likely outcome is that the uptrend will resume from this point , so that by the close of the monthly candle in the next two...
For the first time since then, the FOMC is expected to pivot the rates at 5.25% this week. Volatility on this pair is always wild when the FOMC makes major decisions. In March 2022, when the FOMC first raised the interest rates by 0.75%, USDJPY broke out of 116.00 and rose sharply foe almost 5000 pips within months. The pair is currently in a messy B wave...
US 30 stocks , some of which recently tagged ATH (the blue chip companies) are showing signs of rejection. Apple and Microsoft stocks are leading the NAS 100 stocks and the bulls were recently rejected at a major resistance level. I shared the ideas here: At the same time, bond yields ( both long term and short term are falling, meaning that the investors and...
Nasdaq stocks , some of which recently tagged ATH are showing signs of rejection. Apple and Microsoft stocks are leading the NAS 100 stocks and the bulls were recently rejected at a major resistance level. I shared the ideas here: At the same time, bond yields ( both long term and short term are falling, meaning that the investors and the market are nervous ,...
Apple is leading the Nasdaq blue chip stocks in the US. Last week Apple stocks were trading at all time highs. The market is now at a previous resistance where it has reversed before. If the DXY starts to rise, the stocks will fall. The chances that the market will reverse at a point where it has reversed before are very high.
On the faster timeframes, price is being rejected. Shooting stars are being formed at a level where the market has reversed before (previous resistance). With the FOMC maintaining the dollar interest rates, new trends are underway. This is a long term sell opportunity.
Greetings ! NZDUSD is sitting on a long term support. DXY has been rising for the last few days/weeks. If price is rejected on the Long term DXY resistance/support at 100.00, NZDUSD will be exposed to the previous October 2022 lows below 0.5500. The best selling strategy here would be to wait for a breakout and retest before selling.
Last month's candle broke out of the 1.6000 daily/weekly resistance and closed well above it at 1.6800, which is 800 pips above the 1.6000 resistance. The candle also had no upside wick, which shows that the bullish sentiment is strong. This is most likely a breakout- retest-trend continuation rather than a fakeout.
A bullish trend appears to be brewing on EUR pairs. EURNZD is one of the most volatile currency pairs. Recently on the faster timeframes, it broke out of the daily/weekly/weekly resistance at 1.780. Now, it appears to be retesting this zone before it can push higher to at least 50% of the previous January 2009 - May 2015 downtrend.
There was a strong price rejection at the 1.6500 on EURAUD after the FOMC statement yesterday. The 1.6500 is a significant psychological zone for traders, as it is a previous support/resistance zone. Bulls coming in at this point will push the market to new highs.
On the Monthly TF the trend is clearly bearish. For the last three months, the candles have been opening at the low and almost immediately the bulls take over. However, at some point, price reaches the highs where it becomes suitable for selling. The bears start coming in and slowly overwhelm the bulls , closing the price below the opening. This Month's candle is...
This is a 1 YEAR EURUSD chart. It opened on 1/1/2023 and it will close on 31/12/2023. Assume for a minute this is a daily candle. The last two days the market has been extremely bearish. Today, the market opened and the bulls took over for the better half of the day (since half of the 2023 is gone). What is most likely to happen in the other half ?, given that...
Many novice and advanced traders try to complicate trading with complex strategies and indicators. In my experience, trading comes down to three simple things. Support. resistance and breakout. Add some knowledge on reversal ( for fakeouts) and continuation ( for breakouts) candlesticks and you are good. On NZDJPY, last week candle was extremely bullish on high...
On the slower timeframes, the market is approaching a critical resistance level where it has reversed before, and which has held for the last three(3) years. The final push to this level is more likely to happen when the FED announce the Dollar interest rates early next month on Wednesday May 3, 2023. Candlesticks and candlestick patterns showing rejection on the...
As the Monthly candle closes, there has been a sharp rise in price in the last two days of the Month ( JULY). Price has seen a steady rise of more than 300 pips from 104.00 to 107.00 currently. 107.00 is previous resistance from November/ December 2014. A breakout from this zone will expose CADJPY to the 125.00 previous highs. A possible 2000 Pip trade !
Microsoft and Apple are leading the Nasdaq blue chip stocks in the US. Last week Microsoft stocks were trading at all time highs. The market is now at a previous resistance where it has reversed before. The weekly candle closed as a high volume shooting star, another strong bearish signal. If the DXY starts to rise, the stocks will fall. The chances that the...
Greetings !.On my previous AUDCAD analysis, I was expecting the market to break the 0.8770 support when it retested it in early July. Here is the analysis Last week the market made new lows to the 0.8770 zone before going back up to retest the broken support. On the faster TF the market is forming Multiple shooting star candles which shows that price is being...