EURUSD rallied heavily following the projected 0.25% rate rise but more importantly a dovish tone from Fed Chair Powell. Typically the first euphoric reactions are already priced in, technically the price reached the top of the Channel Up that goes as back as November.
Turning overbought technically on the 1D time frame (RSI = 70.995, MACD = 0.008, ADX = 49.037),...
Box Formation has formed on EURGBP.
We have the 7 looking to cross above the 21 and already price is above 200MA.
The RSI is above 50 and is making a bullish divergence.
These are all signs that we can expect the price to move up and breakout.
First target 0.9312
Yesterday EURUSD closed below the 4hour MA50 for the first time in almost 4 weeks and confirmed a short term bearish signal. Today it is making a classic counter trend rebound to re-test that level as its new Resistance and confirm the bearish pattern's strength.
As long as it is under it, we are sellers with 1.07800 the short term target. On the medium-term we...
As per technical side SANK as per 1M Stoch RSI.
That factor will certainly prevail which will cause stronger EUR and regaining the ratio in a favor of EU currency.
*MACD. multy cross on 1W
*1M KDJ bottomed.
*RSI hit the bottom on 1M timeframe.
Strong EURO will make Europe less competitive and leading towards implosion in certain timeframe (strong currency,...
The USDJPY pair has reached the top of the Channel Down after a a rebound two weeks ago near both its bottom and Support 1. The 1D technicals remain bearish (RSI = 43.265, MACD = -1.260, ADX = 20.176) prompting to a continuation of this downward trend.
The short-term target is Support 1, with a break below it capable of inflicting an extension as low as the...
Yesterday's buy is so far working out perfectly as EURUSD bounced exactly after touching the 4H MA200 (1.05278) and just hit the 4H MA50 (1.06355), which is the short-term Resistance. I am now booking my profit as it is substantial for one day and with the 4H technicals turning from oversold to neutral (RSI: 47.296, MACD: -0.002, ADX: 37.053), I will either buy...
The USDCAD pair reached the Higher Lows trend line for the first time since August 11th, which has been supporting the bullish trend for the past 6 months. The 1D technical outlook decpits the medium-term bearish correction (RSI = 39.227, MACD = -0.004, ADX = 28.712) but it can't continue unless the HL break.
Since it has been the strongest Support of the past 6...
The EURUSD pair remains bullish long term as the 1D technicals are all green (RSI = 67.498, MACD = 0.008, ADX = 42.429) and the Channel Up since the middle of November intact. Right now the price is supported by the 4H MA50, which is our Bearish trigger. Under it we sell with TP = 1.07200 (bottom of S1). The Bullish trigger is over the top of the Channel Up, above...
Two patterns have been spotted on GBPUSD: an Inverted Head and Shoulders that formed the market bottom on September 26th and a Channel Up that is guiding the price higher. The 1D technicals are marginally above neutral levels (RSI = 55.748, MACD = 0.004, ADX = 34.526), indicating that there is still considerable upside potential.
The price is testing the 1W MA50...
There are two formations that is showing bullishness (price wise)
First there is a small recent W Formation, which the price has broken out of the neckline and is currently coming down to test it.
Second, the price broke up and out of a medium term downtrend. It looks like there might be a conservative entry if we get a bounce up on it.
Hi, and welcome to today’s update. Today we are focusing on ETHUSD after yesterday’s solid rally.
Today’s format is slightly different as we use a double CCI method to analyse the current price action. These methods are nothing new and are primarily used to validate trend continuation ideas.
Indicators, whether you love them or hate them, are just tools. We...
Market reversed from daily high (Double top formation) and broke trendline to indicate potential downward movement. Price also broke structure level but we are currently waiting for a retest before going short.
AUDJPY jumps after BOJ leaves yield curve range untouched.
Hi, and thanks for looking at today’s update. Today we are analysing the daily AUDJPY after the BOJ left the yield curve as is after last month's shock adjustment. The market may have been looking for further moves today, which might be why we saw heavy selling on the Japanese Yen.
Update on the January 3rd, 2023 GBPCAD Trade Idea. Where am I exiting this previous long trade idea? When price reaches the larger parallel channel resistance level, then I will exit the trade. Next, I will wait for a short trade opportunity. I will have to wait and see what opportunities that the market will present.
Here's a quick Pre New Year Analysis of a Currency market so all know what we are looking for and what explains current PA...
The Market has been slightly subdued and EARLY PA levels hit reacting to the north side.
In this video we look for Risk Averse short zones upwards / Long Zones to the south side.
Watch on for more