Following a month of trading within a horizontal range, CADJPY recently broke above its resistance level and closed higher. The previous resistance has now become a strong support level. I anticipate further upward movement in CADJPY, with targets set at 113.00 and 113.51.
A significant head and shoulders pattern has emerged on the intraday chart of USDDCAD. The pattern's neckline was breached during the Asian session, with a candle closing below it. I anticipate a downward trend from here on, with the next support level likely at 1.3670.
Gold broke below a strong horizontal support level and the neckline of a dynamic head and shoulders pattern. The broken neckline and horizontal structure now form an expanding supply zone. I anticipate a bearish movement from this area, with a target of 2330.
⚠Bitcoin is currently trading in a wide horizontal range on a daily chart. Depending on whether there is a breakout to the upside or downside, I see two potential outcomes. In a bullish scenario, if the price breaks and closes above the all-time high resistance level of 73,670 on a daily chart, I anticipate a bullish movement to at least the 82,000 level. In a...
EURUSD is currently in a bearish trend within an expanding wedge pattern. However, there are signs of a potential bullish reversal as the price recently tested a key daily wedge support and formed a falling channel pattern. The price has now broken above a resistance line of the falling channel pattern, suggesting a likely continuation of the bullish trend....
📈EURNZD formed a double bottom pattern following a test of a crucial intraday support level. Breaking above the pattern's neckline is a significant bullish signal. Anticipated upward movement could reach the 1.8100 level.
This week, NZDCAD broke through and closed below an important horizontal support level. The broken support has now become a resistance level, which the market is currently retesting. I anticipate a bearish trend continuing towards the levels of 0.8117 and 0.8070.
GBPCAD created a bullish flag pattern on the 4-hour chart. After testing a strong intraday support cluster, the resistance was eventually breached. This could signal a potential bullish trend continuation. The targets to watch for are around 1.7220.
Gold is currently in a bullish trend and recently reached a new high before starting a correction. There is an important confluence zone to watch for potential bullish movement, indicated by a rising trend line and horizontal structure on the chart. The expected goals for this movement are 2389 and 2405.
⚠USDCHF is currently at the top of an ascending triangle pattern on a short-term chart. This formation is typically seen as a strong indicator of bullish momentum in an upward trend. A breakout above the neckline at 0.9152 would confirm this bullish pattern, with a potential target of 0.9220.
CHFJPY successfully broke above the neckline of a flat top triangle pattern on a 4-hour chart and closed above it. This signals the strength of the buyers and suggests a possible return to a bullish trend. The next targets for buyers are 169.33 and 170.03.
⚠DXY closed last week at a solid daily resistance zone Depending on the reaction of the price to that structure, I see 2 potential scenarios for this week. Bullish Scenario If the price breaks and closes above 106.17 resistance on a 4-hour chart, a bullish continuation will be expected to 106.89 level. Bearish Scenario The price may respect the underlined...
AUDJPY has developed a significant head and shoulders pattern on the an intraday chart. The pattern's neckline was breached yesterday, with an intraday candle closing below it. I anticipate a downward trend now, with the next support level likely at 98.20.
We have observed two significant developments on the AUDCHF chart. The market has broken through and closed below a strong upward trend line and an important horizontal support level. These broken structures now form an expanding supply area. We can expect a further downward movement towards the 0.5828 level.
Yesterday, Gold hit a significant upward trend line on a short-term chart. Despite the market consolidating in a sideways pattern for a while, touching the trend line caused the pair to move higher. The market then surpassed and stayed above the resistance level of the range. I anticipate that the pair will continue to rise after retesting the broken...
The GBPUSD experienced a significant decline yesterday following the release of CPI data. After reaching a new intraday low, a corrective movement began. The market was showing steady growth within a bearish flag pattern. To anticipate a bearish trend continuation, look for a bearish breakout below the flag's support level. If the price breaks and closes below...
USDCAD is currently testing a strong horizontal daily resistance level. Once it reached this level, the price began to consolidate in a tight horizontal range on the 1-hour timeframe. To consider a short position with confirmation, it is recommended to wait for a breakout below the support of the range. A close below this level on an hourly candle will confirm...
The GBPNZD broke through and closed below a short-term horizontal support level, which has now become a resistance level. Given that the pair is currently in a downward trend, it is likely that we will see further bearish movement towards lower levels of support. Selling targets are set at 2.0799 and 2.0706.