Trade_Point

Trade_Point

Price is currently within a ranging channel. After it made a fake-out at the support level it has formed a rising wedge pattern as it reaches the resistance level for the second time, forming a double top bearish reversal pattern. Now, before price breaks out of the wedge , it is also looking to form a head and shoulders pattern as the impulsive move is looking to...

Trade_Point

Price is looking to make a breakout of the symmetrical triangle pattern, as it has completed the wave E. It might pullback at the 38.20% Fib level before continuing to the upside.

Trade_Point

Price is currently within a ranging channel and formed an ascending channel towards the resistance level. Expecting a bearish reversal from this pair as it completes the wave E as well.

Trade_Point

This pair has formed a bear flag pattern on the 4H time frame. It has completed the wave E as well, with a rising wedge pattern. Expecting a bearish run for this pair.

Trade_Point

As DXY is looking to be bullish for next week, we are expecting a bearish reversal for XXXUSD pairs including this EURUSD pair. Price has formed a possible double top pattern on the weekly resistance level. Now, here on the 4H time frame we can see an inside bar candlestick reversal pattern. Expecting a formation of lower low and lower high before considering a...

Trade_Point

Price is currently within an ascending channel. It has formed a bear flag with a rising wedge pattern approaching the 61.80% level. Expecting a bearish reversal on this pair for next week.

Trade_Point

Price is currently sitting at the weekly resistance level and has formed a bearish engulfing candle here on the 4H time frame. Now after price break the 0.69900 support level it has retested the key level and closed with a doji candle. Expecting a rejection of the 50.0% Fibonacci level and a bearish reversal on this pair for next week.

Trade_Point

As forecast on the weekly we are bearish bias on this pair for the upcoming weeks. Here on the 4h time frame, we have a head and shoulders pattern as a confirmation for bearish reversal pattern. Expecting a lower low and lower high confirmation.

Trade_Point

Here on the weekly time frame, we can see price is within a descending channel. We are expecting a bearish momentum and trend as it hit the weekly resistance as well. If the weekly candles closes as a bearish engulfing candle we can expect a confirmed down trend signal.

Trade_Point

USDCHF had formed a descending channel ending with an inverse head and shoulders pattern right at the support level. Now, we are expecting a trend reversal. However, we need to see a higher high and higher low before we can consider a buy entry.

Trade_Point

Like CHFJPY, price broke out of the ascending channel and is now looking for a pullback. We are expecting a pullback at the 61.8% fibonacci level. A bearish reversal candlestick pattern rejecting the golden ratio would give a good entry point for shorting this pair.

Trade_Point

Price formed a double top pattern on the daily time frame, which is a bearish reversal pattern. Digging down to 4H time frame we can see an ascending channel that approached the resistance level. After price broke out of the channel it is now pulling back at the 50.0% fibonacci level and forming a lower high to confirm the downtrend.

Trade_Point

This pair has been in a long term correction. Now, as it hit the 61.8% fibonacci retracement level and considered as the end of wave E, we might see a bearish run for this week. Looking to enter short after a lower high confirmation.

Trade_Point

This pair has broken the 1.62733 support level. Now price pulled back on the broken support level acting as a resistance. Expecting a bearish price action down to 1.60900 if the smaller bear flag breaks its trend line support.

Trade_Point

We have here a possible bear flag formation on the 4H time frame of USDCAD pair. An ascending channel or rising wedge formation ending with a bearish candlestick reversal pattern would confirm a possible short on this pair.

Trade_Point

As forecasted yesterday, GBPJPY is looking to be bullish. We also stated on our group that we need to have a higher low first to confirm the start of an uptrend.

Trade_Point Updated 

This pair is currently within an expanding channel. Now, after a bearish push which started last June 12, 2020, price has corrected and formed a rising wedge pattern. Expecting a reversal from the 78.60% fibonacci retracement level. A bearish candlestick reversal would be a good signal for the completion of wave E.

Trade_Point

We have forecasted this pair to reverse bearishly at 1.58350. However, it surged higher and tested the higher resistance level at 1.54162 and formed a double top pattern. Entered short on this pair with a good 1:2 risk to reward ratio.