savvyacademy

savvyacademy

SPX is likely on the rangebound with support around 4300 and resistance around 4500. With the current levels, bullish setup maybe considered and to be cautious and change to bearish when near the top of the range.

savvyacademy

Based on weekly chart of GBPUSD, it appears that there is a head and shoulder pattern. So, a bearish approach is considered for next week.

savvyacademy

EURUSD has broken down the neckline of a weekly double top pattern. The bearish sentiment may continue to persist and hitting the measured move of the double top will be a sweet spot for both bullish and bearish traders.

savvyacademy Updated 

USDJPY is still seeking direction at multi-month bear trend channel. It seems that next week may have a bullish move. The setup here is to look at price action at 110 to take short with 111 at stop loss. 1st Take Profit level maybe around 107.50

savvyacademy Updated 

USDJPY may have either a strong bullish markup or potential bullish exhaustion for the last week of Feb 2021. In addition, the price level happened to be within a confluence of axis line and intersection of long term bearish and short term bullish equidistant channel. 107 which is near 61.8% retracement, seems an ideal level to be ready to short USDJPY.

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DXY ended positive for last week and seems to be start of the formation of a double bottom. Looking to go long with target based on the double bottom measured move to 97.665. Stop Loss at around 89.30

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Based on weekly chart of EURJPY, there is a likely double bottom 2 x measured move to 134.60 in coming days.

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Cardano is still on near term bearish retracement, with a bullish background. Playing on possible trading range and target to hit $2 or $2.46.

savvyacademy Updated 

With previous bear break down of the weekly channel, EURUSD has found good support and is back with previous trading range. This bullish outlook may face resistance 1.2250 before considering 1.25. A steep plunge below 1.17 may expose 1.14 for support.

savvyacademy Updated 

SG30SGD is on a downtrend channel and any extreme bullish move is a great opportunity to take position to follow through.

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Looking at STI Weekly chart, price was in range for about 6 weeks and had a significant break down. It will seem that the long term downtrend channel may be as a temporary support and further breakdown back into the downtrend channel will likely resume bearish outlook. The past movement indicate highly cautious move, sell into exuberant strength seems higher...

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In view that, Feb close near 38.2% and aligned with the bullish equidistant channel. So maintain bullish sentiment for March.

savvyacademy

The monthly bull trend channel is still intact and likely to face resistance at 0.8135.

savvyacademy

In view of bearish dollar outlook, USDCHF is likely to breakdown to be supported near 0.850. For risk management, any attempt to invalidate the recent high of the retest of the "double top" neckline indicates a possible bullish reversal.

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Related to my post on Short DXY for 2021, the bearish outlook for USDJPY is illustrated using the bearish trend channel. The possible strong support could be at around 99, which maybe ideal for building a base before slow and cautious bull rally.

savvyacademy

EURUSD is on an uptrend channel, so a near term challenge is on the 1.25 region.

savvyacademy

HK33HKD is on a downtrend channel and the recent bull rally is hitting the top of the channel. The sell opportunity should be setup soon before Chinese New Year.

savvyacademy

In view of more economic stimulus, it is highly likely SPX will be hitting 4382, with 3242 as its base support for 2021.