Preceding a broadening formation It seems higher probability to sell DOW30 than to buy it.
With EURUSD price near parity, it seems that there is a confluence of bearish trend channel and a three-drives pattern. Possibly an entry near 1.034 with stop loss near recent low and a target near 1.0455
Given the backdrop of strong bullish rally for USDJPY, it is highly unlikely that a bearish reversal is in sight. Price is contesting recent bullish breakout levels, with seemingly rising wedge pattern to signal potential bearish move. For a conservation entry, look at near 133.60 for potential re-entry for next new high near 138 - 140.
A nice bearish trend channel for past few months seems to continue.
Given the bullish rally and that BOJ is unlikely to provide bullish support for JPY. The Fib retracement maybe good opportunities for re-entry and exits as marked.
On 1H chart, up trend line and down trend line cross, the current bullish up trend may challenge a few fib retracement zone. Set up here is only on the near term target.
This is a long term call for USDJPY. With the pandemic as the backdrop and inflation as current theme, the only reason for USDJPY to u-turn from the current bullish trend is sovereign default. That is highly improbable given the creative ways to support the economy by allowing central banks to print legal tender notes, making periodic economic-positive...
EURUSD will continue to the bearish trend due to Ukraine war, with the backdrop of the persistence of COVID-19 pandemic and slow economic restarts, this may fuel the currency to find support near 1.0650. A possible support trade may be in the playbook when that happens.
A evening star, which seems to hint that the current bullish sentiment has waned. This bearish pattern was formed just above the recent resistance and recent price action has turned lower below it. So, it is highly bearish and a lucrative target at 112.50 region will result in handsome profits for an ambitious and patient trader.
With 2021 double top as backdrop, coupled with 2021 lows near double top measured move and weekly 61.8% retracement, EURUSD is poised to be bullish for 2022.
With the recent bullish rally background and bullish base around weekly pull back at 61.8%, there is a higher bullish move probability for coming days.
On the weekly chart, SPX had a bounce off support and is currently at the axis line. This may suggest a potential pullback for a bullish continuation. 4800 maybe a near-time psychological resistance, with 5,000 as all-time high and a major resistance at end of 2022.
Here is anticipating a large trading range so that AUDUSD maybe forming a bullish base. Based on short term sentiments, selling at pullback seems to be of a higher probability and first target at near support found near end Jan 2022.
AUDUSD seems to be forming the double bottom. Expects to be bullish for any daily false breakdown and to take profit near the neckline of the double bottom.
Based on 4 hourly Chart, USDJPY had a bearish harami with a sell zone. Looking to sell next week and it has a pullback, and also to sell when it breaks the support zone. Potential targets at test of recent bullish breakout bars at 114.80 and the start of the bullish rally near 114.15. Stop loss at above the sell zone.
GBPUSD had a bullish wedge pattern and a recent consolidation near 2021 low. The trajectory is expected to continue to challenge 1.38 region. A possible dip is likely to happen this week due to expected poor economic indicators. So, any unusual and extreme bearish moves are potential bullish uptake. A dive to 1.330 invalidate the bullish sentiment and to challenge...
It is holiday season. USDJPY gains due to the commitment from Central Bank to taper. So at the current price level of 114.70, it appears that USDJPY is at a recent top. At current level, it seems to form a right shoulder. Will it challenge the next top or to fall back to the range support?
Bullish setup for USDJPY next week. Based on the current bullish trend and weekly bullish bars, it seems that bulls are in charge and looking for another resistance.