scaige96

scaige96

Price broke out the bear trend with much more momentum than expected Depending if we see a follow through bullish daily candlestick today , this could prove to be a successful reversal ending the bear channel

scaige96

Last week price broke out of weekly trendline, however with very weak bullish follow through Due to weak bulls in the market, we should expect a pullback to test the breakout zone. This could then lead to double bottom bullish rally or a consolidated market

scaige96

Price is currently consolidating around support area which is acting as a short term magnet against bearish channel

scaige96

Price is testing breakout point, a rejection on the upside can lead to a bullish rally

scaige96

Moving average test, bullish trend likely to resume

scaige96 Updated 

EUR/USD has been a very consolidated market in previous weeks. With price trading between the upper and lower ranges of 1.1470 and 1.1270 respectively . Even though there has been many attempts to break below or above the consolidation box all of them have failed. Current price action has broken the long term trendline and unlike previous tests there is enough...

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As we can see, price has strongly broken the weekly trendline but attempts to break below the monthly trendline last week failed, as there was a rapid recovery which pushed price back inside the trendline/support area. Because sellers who entered positions early on are likely to close in on their profits, we should expect selling pressures to slow down in the...

scaige96

Currently, price is testing the monthly resistance zone as well as the longterm trendline, which is a very interesting level for both buyers and sellers There are a number of different scenarios that could play out based on price action. As price has effectively bounced off of the support area and looking set to break the resistance and trendline, some could...

scaige96

The bulls look exhausted after the short rally to test the trendline break gap at around the 1.1440 level, forming a double top formation. This is a good opportunity for a short position targeting the 1.12800 level Stop losses should be placed beyond the double top zone allowing for a 1:3 risk/reward trade to the weekly support zone

scaige96

In the past few weeks we have seen a very consolidated market but last week we saw what seemed to be a break out from the consolidation box with a price spike which broke the consolidation box temporarily at around 1.4700- however this turned out to be a fake out as price was rejected by the trendline, and failed to break out of the consolidation zone. Wshould...

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Following the neckline break of the head and shoulder pattern last week, we saw price melting below the weekly support target. Even though our chart analysis is showing signs of a bearish reversal on the weekly chart, we still need further price information to determine weather this will actually be followed by more selling in the coming weeks. There’s a few...

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IF we look at price action over the last few weeks we can see that the recent bullish spike of the recent few days is simply a pullback retest rather than a bullish reversal. Last week we saw the market breaking below the monthly trendline with strong bearish follow-through, price then tested the 1.2552 monthly support level. The rejection at this level followed...

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Price has just rejected resistance zone on the 4 hour, with the shooting star pattern. We could see a evening star formation which could lead to a start of a reversal Recommended stop loss would be above the resistance level at 1.27000 and take profit target at around weekly support of 1.25000

scaige96

I believe recent bullish spike seen on GBP/USD is simply a pullback and that there is further downward bearish momentum to be seen in the coming days. LAst week we saw price breaking the long trendline with a strong bullish candlestick which was followed through by another bear candle on the daily. Price then pulled back at around the monthly support level 1.2500...