I have laid...it...out. 1.6:1 I would be quick to scale out of this, could just be a pullback to further upside? be a Baller.
🔸 WEEKLY CHART EXPLANATION: . . 🔸Price broke the Ascending Channel. . 🔸It is now facing the Support Zone at 93.00. . 🔸If this zone is broken to the downside, the next bearish target is the Support Zone at 89.00. . 🔸 Will look for a lower timeframe bearish setup.
Hello, everyone! Kindly ask you to read Related idea first. UPDATE: - After facing the resistance this instrument continued its movement within the channel with some false breakout. In my opinion, we might see the further movement in a couple of days. Good Luck!
The trend in the USD is down - and normally its a good idea to follow the tend BUT.... Europe second wave - euro negative US cases coming down (possibly because of less testing) US election US Treasury auction supply - 20 year bonds next week New Zealand example of other central banks easing first Haven flows without stimulus deal, US China relations (talks...
I show you the best Sell places. I choose to sell it because the global trend is bearish. The best pattern to enter the position will be a huge candle. If the price will approach slowly it will be better to wait and watch. Push like if you think this is a useful idea! Before to trade my ideas make your own analysis. Thanks for your support!
USDJPY H4 - Nice Double top in sight, rejections of 106.300 would be ideal, two heavy monthly key levels and a week, local H4 resistance, should see a reaction at 106.300 price for hopefully this bearish USD downside continuation after a recent relief rally.
DXY H4 - Another week of USD weakness. Clear downtrend seen here on dollar index, other pairs such as USDJPY, USDCHF following very similar suit.
Watch for price to tag the top of the rising wedge and enter short
🔸 4H CHART EXPLANATION: . . 🔸Price bounced at the Resistance Zone. . 🔸After that it broke the Trendline of the Corrective move. . 🔸Now it is facing the Previous low, so, we are waiting for a brekout of this level to confirm the view. . 🔸 Will look for a lower timeframe bearish setup. 🔸 DAILY CHART ANALYSIS:
On the lower time frames we have broken an ascending channel and price also rejected and formed a double top. Price has huge potential to the downside: the beginning of the lower time frame channel, the longer wider ascending channel support, and the beginning of the whole structure.
2 high probability areas of interest to SHORT. Will wait to see how price reacts around those levels and then jump in.
😯 The almighty usd is at a critical point of Resistance as it compresses for a major move. The green triangle is your zone of compression. I analyzed this chart not too long ago and spoke about how this Resistance level would be a strong level. We continue to fight as the monthly and 2 month start to compress and shift red with the ema dots indicator below. Once...
DXY technically is sitting on the critical support level and it seems to be gaining power from it to climb towards the resistance level. It is currently at the oversold position in terms of several indicators. FED's decision on interest rate will be decisive for the path of the US dollar index. Note: Interest rate seems to be staying constant.
🔸 4H CHART EXPLANATION: . . 🔸 Price is moving on a range. . 🔸 At this moment, it is facing the Ascending Trendline of the consolidation. . 🔸 If it is broken, then it has potential to reach the Support Zone. . 🔸 Will look for a lower timeframe bearish setup once the direction is confirmed. 🔸 DAILY CHART ANALYSIS:
Red line is 2019 close (2020 open). Considering we are above Kumo cloud both on daily and monthly plus having 2 bullish piercing patterns on daily - price should keep rising. Price is also making higher lows on daily. Also observe - price formed massive diamond bottom bullish reversal pattern on daily since Dec 2019. It means dollar will strengthen as USDCHF...
Further to our previous article , FXCM's USD index, USDOLLAR, has reversed its technical makeup. The EMAs are looking to turn negative (green ellipse). If the EMAs develop angle and separation to the downside the green 5-day EMA will be below the orange 13-day EMA, and the orange 13-day EMA will be below the black 34-day EMA. This will be a testament to the Fed's...
Dollar hit Monthly Pivot, trend-line support and May R3 reversal level (May top value zone - now support) Price is likely to reverse here and since dollar broke May roof it will proceed to May R5 (I marked the target). For educational purposes.