Looking at the 4-hour chart of NZDCAD, we can see that the price has been forming a series of lower lows and lower highs, indicating a downtrend. However, this trend has been interrupted by a bounce off a monthly support level, suggesting a potential trend reversal. After this bounce, the price formed an impulse that took it to a daily resistance level, where it...
CADCHF on the 4h chart after the recent drop tested perfectly the 50% retracement over a weekly resistance. The price might lose the bullish momentum and we will wait for a potential break of the minor support to look for a short opportunity. Being Friday it might be risky to open a position.
EURGBp on the 4h chart after the test of the 0.89200 area dropped to the 0.87200 exactly at the 0.618 Fibonacci level. The price claimed back immediately to the 0.5 Fib level over a weekly structure and is now trading below a minor resistance level. According to Plancton's strategy IF the market will break above we can set a nice long order as the MTB strategy expect.
The AUD/USD pair has been trading in a descending channel with a series of lower highs and lower lows, which suggests that the overall market sentiment is bearish. The most recent price action has seen the price drop to the daily support level at 0.68700, and a retracement to the 50% Fibonacci retracement level of the previous bullish move at the round level...
The EUR/USD currency pair after our previous anlaysis has formed a double bottom pattern on the weekly timeframe at the 1.05500 level, which has acted as a strong support level. This pattern indicates that the bearish momentum has ended and a new bullish trend may be forming. The price has already started an impulse wave and has moved up to the 1.07500 level,...
USOIL on the 4h chart after our previous analysis reached the 80 level and dropped to the 0.618 Fibonacci area exactly over a previous support that has been tested a few times before. The market anyway did not create a new recent lower high and also for this reason we can keep to search for a long opportunity in the short term. How can i approach this...
CADJPY on the 4h chart has been trading around the 100 level in a distribution phase. Lately the market broke below the area and close the day of yesterday below the support zone. In this case, the pressure of the seller might increase and if the price retests the previous support now turned resistance we will look for a nice short order according to the...
After our previous ideas on this pair we continue to ride the bullish bias on USDJPY. The price delivered an almost 4% since our analysis and after a confirmation of the ascending triangle the market is now testing a daily resistance. A classic 50% test retracement and and a break above the structure will further confirm the bias and we will be ready to set a new...
USDCHF after the rejection by the weekly resistance at the 0.94500 level retraced back exactly at the daily support over the 0.382 Fibonacci level. The recent news makes the price bounce over it and we can see how a new test of the previous recent high in this moment. Moreover the price shift the bias and we are in a bullish environment on the 4h hour time frame...
GBPCAD on the 4h chart is trading exactly at the fair value over the 50% support of the previous impulse. We can notice how the market created a range with a spike over the 1.65000 area that seems to be a head and shoulders pattern. The Head and shoulder pattern works in a better way at the top of a trend while here we are not but in case the price will break...
USOIL on the 4h chart has bounced over the monthly support and broke the descending channel. The price after the bounce create a move to the upside where it broke the downtrend and potentially could see a new trend to the upside. Infact both the break of the channel and the "new" recent high are supporting this fact together with a test of the 50% move of the...
There is a potential bullish trend forming on the EUR/USD 4-hour chart. The bounce over the weekly support and the subsequent upward move indicate a shift in bias towards the bullish side. The fact that the market has tested the support twice and created a new impulse suggests that there is buying pressure in the market. However, the current price is below the...
EURUSD has dropped as expected and reached the 1.06000 level over a 4h support. Traders will now be waiting for a potential break of this support level and a test of the lower weekly level at the 1.05000. If the price does indeed reach this level and provides an inversion, we may start looking for a potential buy opportunity. However, it's important to keep in...
The triple bottom pattern is a bullish reversal pattern that forms after an extended downtrend. It is characterized by three consecutive troughs that are at approximately the same price level, separated by two minor peaks. The pattern is complete when the price breaks above the resistance level formed by the minor peaks, indicating a possible trend reversal. Now,...
GBPJPY on the 4h chart after the break of the resistance area fetches the 50% move and s currently trading below the structure at the 164 level. As we know all the pairs but mostly the JPY ones are reacting very well to the round and half-round numbers and being in a bullish scenario we still be long for a long order. How can i approach this scenario? I will...
USDCAD on the 4h chart is creating a series of higher highs higher lows. The price couldn't create new highs in the day of yesterday and we can see a form of H&S pattern that could lead to a short term inversion. How can i approach this scenario? I will wait for a break of the support for a short term correction and look for a possible short order according to...
On the 4-hour chart of EURAUD , we can see that the price has been in a descending trend until it tested the weekly support level . After hitting this level, the price started to move in a potential bullish direction with a series of equal highs and higher lows. This is a good sign of a potential trend reversal. The price is currently trading below the resistance...
The USD/JPY pair has been in an uptrend for the past hours, with higher highs and higher lows. However, the price has started to consolidate and create equal highs and rising lows, indicating a potential formation of an ascending triangle pattern. An ascending triangle is a bullish continuation pattern that typically forms during an uptrend. It consists of a...