The EURUSD pair turned neutral technically both on the 4H timeframe (RSI = 51.027, MACD = -0.001, ADX = 32.294) and 1D (RSI = 48.083, MACD = 0.000, ADX = 32.045) and that creates the conditions for sideways trading. Though the short term pattern may be a Channel Down, we will use the range provided by the Double Top and Double Bottom 1.07900 - 1.0670 to scalp for...
From the previous breakdown we price now respecting the fib and counter trendline and we could see this week a massive move to upside Follow me for breakdown like this
Interest Rate rising GEO political upheavel continues
The EURCHF pair is being heavily rejected on the 1W MA50, the 1D time frame has turned bearish (RSI = 42.235, MACD = -0.001, ADX = 20.466) and the target is now the S1 (0.97300). Only crossing above the R1 (1.009500) justifies a buy, in which case the target will be R2 (1.051500). ## If you like our free content follow our profile to get more daily ideas....
The USDCHF pair is forming the Right Shoulder of a Head and Shoulders pattern. For many weeks now it has found Support and is turning sideways within the Shoulders Rectange and can trade within that range for as long as 6 months. This is an excellent sideways trading opportunity. Proof that 1D is technically neutral (RSI = 50.834, MACD = -0.001, ADX =...
Short term update for EURUSD on the 1H timeframe whose technicals are neutral (RSI = 45.855, MACD = 0.000, ADX = 34.784). The reason is this very well structured Channel Up that has just tested the 1H MA50. If it holds, target the 0.382 Fibonacci (TP = 1.0800). If the 1H MA200 breaks, start targeting the 0.5 Fibonacci and 0.618 Fibonacci. Short term strategy...
EURUSD hit the bottom of the long term Channel Up, as well as the 1D MA50, turning the 1D technicals red (RSI = 46.112, MACD = 0.003, ADX = 28.557) for the first time since January 6th. That was coincidentally the last Higher Lows at the bottom of the Channel Up which kick started a +4.20% rally. The previous Higher Lows also made a +4.20% rally so it is a...
AUDUSD hit yesterday the 1D MA50 and today at least before Powell's speech, was staging a big rebound. That hit was also made at the bottom of the long term Channel Up started in November. With the 1D technicals neutral (RSI = 49.300, MACD = 0.004, ADX = 28.417), we see this as a good buy entry, targeting on the long term just under the R1 (TP = 0.71350). The...
GBPJPY is bearish on the long term as it remains under the 1D MA50 (right chart) with technicals all in red (RSI = 41.765, MACD = -0.860, ADX = 25.857) despite trading within a range since the end of December. This range is practically what we want right now as the sideways price action offers the best scalping opportunity for at least the next week. The price is...
Simple technicals combined with a broad perspective. 1) Resistance trend-line ongoing since April 5th was broken 24th may, indicating bull trend initiating. 2) Since breakout, connecting lows and highs are parallels indicating a consistent up-trend in the shape of a tunnel. The range of the tunnel is 0.980 to 0.916 , current rate is 0.911. A break below...
ger30, daily thought. where we are right now we in a channel but any break to the levels indicated it will results in one of the predictions made.
Hi guys this is my view on eurusd, i think since the market is already bullish price therefore is likely to continue in the direction of the trend and thus my daily support level. I would like to know your views.
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...
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. Technically. 7>21 MA...
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...
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...