I started with a Top Down analysis and noticed on weekly there is a double top and also how market had recently went up to the neckline and respected it(purple line) and also it had tapped Trendline and made a new low as well. The other trendline that got broken, market had made a head&shoulders which made it drop. As of now i see this Pair should go to around...
Gold recently broke out of February's bullish flag pattern and broke pass that area of supply that is now demand (1350's area). Price is now floating in the Weekly Resistance area of 1428.30 and is creating an ascending broadening wedge pattern. There is also bearish divergence on the RSI indicator. These confluences are letting me know that this pair wants to...
WERE CURRENTLY sitting at a 61.8 fib LEVEL we can see a reversal to the downside for the market to gain some more momentum to break this level in the future if we see some wicked or consolidation around this current level it may represent market conditions currently rejecting price from passing this level lets see how it plays out im calling a small short into a...
its been a while since i posted but im back ive been studying and watching markets intensively we got rejected earlier this week on a fib level so im thinking markets will come down this level for support and make a rise
My point of view concerning CHF/JPY , for the next week :) .. wait for a good signal
momentum is slowing down. we are looking for that 38 retrace to 1.34600 to shoot to the 1.40500 level. while that is happening i will be looking for some shorts.
remember the market can only go 3 ways UP DOWN AND SIDEWAYS but ultimately there is an uptrend left as seen on the WEEKLY chart up to a resistance point to intiate a major downtrend look out and lets see how it plays out
Although GBPJPY seems very bearish, Price is staying above weekly support and respecting TL. MAs are crossing over. (Risky trade)
HH/HLS, MAs open, Euro could possible come to Monthly Support 1.1773, or 38.20% fib, before shooting up.
GBPAUD should retest CTL before it continues it's downward trend. Monthly Resistance should hold.
USDCAD will continue it's downward journey till Monthly supply 1.2245 zone. UC re-tested daily resistance and, now we could see it fall.
MAS open, gold has potential to reach back into 1300/oz zone and take out the price. (HH/HLS)
Weekly bearish, USDCAD has been super bearish, MA's crossed over, (open), UC will try to break its previous lows on weekly, potential target for now is monthly support 1.2245 zone. Analyze bigger picture.
TL broken, MAs crossed over, GA could retest to 1.6430 before it drops to Weekly support 1.6250.
Currently at Weekly support 144.07, if 144.67 is broken and becomes the support GJ is expected to reach back to Monthly Resistance 147.47 zone. Anyhow, if GBPJPY breaks below weekly support 144.67, GJ could potentially reach 140.00 since the trend is bearish, and MAS touching each other on daily tf.
AUDJPY has broke the bearish structure, MAs have been crossed over, HLs and HHs. An uptrend channel has formed and its respecting the market move. We could see a retrest at monthly s 88.00 (CT) as its upper continuation move to weekly r 90.00. Once target reached further analysis will be updated.