USD/CAD surged after the break of the inside bar candlestick pattern that we covered yesterday. The breakout of the inside bar candlestick pattern lead the price to break the 1.1015 resistance level. Note that the inside bar candlestick pattern was coupled with the Stochastic and Commodity Channel Index (CCI) showing the price is oversold which adds strength for...
NZD/JPY printed an inside bar plus a bullish engulfing bar combination of candlestick patterns on the chart. The long term trend is still up as the short term moving averages (10 and 20 period) are above the long term moving averages (50,100 and 200 period) and the Tenken-sen has just crossed above the Kijun-sen showing the bulls might be accumulating position...
GBP/USD has been in a strong down trend since last month but seemed to find some ground in the last few days. There's an inside bar candlestick pattern formed on this pair, so the price could potentially move slightly higher to the resistance level and fill the gap before continuing to move lower. The stochastic and Commodity Channel Index (CCI) are showing the...
EUR/USD has been trading within the inside bar candlestick pattern throughout the Asian and early London session. The long term trend is still bearish as the Tenken-sen is still below Kijun-sen and the short term moving averages (10 and 20 period) are still below the long term moving averages (50,100 and 200 period). The stochastic is showing this market is...
EUR/GBP has been quite volatile recently which was caused by both the Pound and Euro dollar. There's no obvious trend over the long term horizon but based on the shorter time frame, we do have bullish momentum going on in this market as we can see through the up sloping trend line and Tenken-sen continuing to stay above the Kijun-sen. The current support level is...
EUR/USD slid after the price moved slightly higher and created a pin bar candlestick pattern near the 1.3000 resistance level. The price has fallen further since then and is currently trading around the 1.2870 support level. The long term trend is still bearish as the short term moving averages (10 and 20 period) are still below the long term moving averages...
After multiple attempts to break below the 1.0880 support level, USD/CAD’s price eventually started to see some upside movement in today’s Asian and Lohndon session. The price has created multiple pin bar candlestick patternw in this market, which shows the bulls aren’t going to give up anytime soon. The overall trend is still up as the price remains above the...
Silver has been rising since last Friday and is near the 19.32 resistance level. The overall trend for this market is still bearish as the price continues to stay below the 200 period moving average. There is a bearish engulfing bar candlestick pattern which could lead the price lower in todays London session. The current support level is at 19.00 and resistance...
EUR/USD declined significantly after the price broke the multiple inside bar candlestick pattern that we discussed earlier today. Note that the Commodity Channel Index (CCI) also showed an overbought situation for this currency pair at that time and the probability for the price to break below the inside bar candlestick pattern is high due to the strong down trend...
The most traded pair has multiple inside bar candlestick patterns just below the 1.3160 resistance level. EUR/USD is still in a strong long term down trend as the short term moving averages (10 and 20 period) are still below the long term moving averages (50,100 and 200 period) and the Tenken-sen remains below the Kijun-sen which also shows the bears are still in...
NZD/JPY continues its upside movement after rejecting the 87.15 support level with a pin bar candlestick. The overall trend for this market is still up as the short term moving averages (10 and 20 period) are still well above the long term moving averages (50,100 and 200 period). The pin bar candlestick pattern that pushed the price higher also pierced through the...
USD/CAD surged higher after it broke the 1.0880 resistance level which we mentioned yesterday. This surge was caused by the inside bar breakout which is just below the 1.0880 resistance level. The overall long term trend is still up as price continues to stays above the 200 period moving average and the 10 and 20 period moving averages have crossed above this 200...
EUR/USD has broken its down sloping trendline from todays London session. We could potentially see the price rise higher from here to the 1.3215 resistance level. The overall long term trend for Euro is still down as all the short term moving averages (10 and 20) continue to stay below the long term moving averages (50,100 and 200). The tenken-sen on the other...
Gold has been in a consolidation in todays Asian session. The short term trend for this market is up as all the short term moving averages (10 and 20) have crossed above the long term moving averages (50,100 and 200) except that the 100 period moving averages is still below the 200 period moving averages. The current support level is at 1287.00 and resistance at...
NZD/USD is consolidating and forming a triangle chart pattern. The price has soared higher after the break of the inside bar candlestick pattern that we discussed yesterday. It's price has filled the weekend gap as well and if the price breaka above this triangle chart pattern, we could possibly see price rise to the 0.8425 resistance level. The short term trend...
EUR/JPY will be one of the key markets to watch today in the New York session. The overall long term trend in this market is still down as the short term moving averages (10 and 20) are still below the longer term moving averages (50,100 and 200). The tenkan-sen is below the kijun-sen as well and the Chikou sen continues to stay below the candlesticks which adds...
USD/CAD is in a trading range over the short term horizon while the longer term trend is still up as the 200 period moving average has not been breached. The current support level is at 1.0880 and resistance at 1.0983. The price action performed a false break at the top of the 1.0983 resistance level yesterday which led to a big downside move. The price has broken...
Gold has breached the black horizontal line that we discussed yesterday in our London Session Watch. We could possibly see the price continue this upside movement until the 200 period moving average is hit. If the price breaks the 200 period moving average, we could possibly see a trend change coming. The parabolic SAR indicator and the MACD has been supporting...