Right off the bat, I normally get short analyses wrong with USD/ZAR.
But the system is the system, so I have to keep to the rules.
Since the trade hit my first target at R18.90, it's been forming an Inverse Cup and Handle.
Now the price has broken below, which means the USD is likely to weaken from here.
The indicators however are conflicted.
7>21 (about to...
Inv Head and Shoulders seems to be forming on the CAD/CHF Minor Currency Pair.
There is a fight between Canada and Swiss Franc and it looks like Canada is preparing the troops for upside in the chart.
We need to wait for the higher low to form (right shoulder).
Then for the price to break above the neckline and it will be breaking above the medium term...
Rounding Bottom formed on EURAUD and since it broke above the neckline, it's been moving on a strong up trajectory.
During the upside there have been two order blocks formed Sell Side LIquidity, which everytime the market comes down big orders are taken out and there is buying into it pushing the price higher
7>21>200
RSI>50 =70
Bullish bias
Target1.6816
Prices are testing a key resistance level on the daily and H4 time frame in line with the 78.6% retracement, we could see a further downside to our support level at 3156 in line with the H1 support area.
The Eur/Jpy has a lot of potentials. The movement of price is dope. There is a lot of both buy-side and sell-side liquidity that needs to be taken out from the market by the banks and institutional traders. So we hope to see this pair fall to at least the level I expected. When trading this, one needs to note what to do whether to take full profits or take it in...
cadjpy rejected by strong supply zone 83.900
MACD shows bearish momentum
RSI shows negative divergence
so its expected further selling to support area around 83.000
and fibo level 38.2% from major uptrend wave.
GBPUSD is approaching our first resistance at 1.3571 (horizontal swing high resistance, 76.4% Fibonacci retracement) where it could potentially drop to our first support at 1.3526 (horizontal swing low support, 38.2% Fibonacci retracement). A breakout below our first support might push price down to our second support at 1.3476 (horizontal swing low support, 61.8%...
EURJPY is testing our first resistance at 129.96 (horizontal overlap resistance, 161.8% Fibonacci extension, Elliot wave structure). A strong reaction might occur below this level, pushing price down to our major support at 129.07 (horizontal swing low support, 100% Fibonacci extension). Ichimoku cloud is also showing signs of bearish pressure, in line with our...
USDX reacted off our first resistance at 92.85 (horizontal swing high resistance, 76.4% Fibonacci retracement). A strong reaction might occur below this level, pushing price down to our major support at 90.96 (horizontal pullback support, 50% Fibonacci retracement). A breakout below our intermediate support at 91.93 (horizontal overlap support, 61.8% Fibonacci...
GBPAUD is approaching our first resistance at 1.8101 (horizontal pullback resistance, breakout level) and a strong reaction might occur below this level, pushing price down to our major support at 1.7980 (horizontal pullback support, 100% Fibonacci extension, 38.2% Fibonacci retracement). Ichimoku cloud is also showing signs of bearish pressure, in line with our...
CHFAUD broke out of our first support-turned-resistance at 1.3340 (horizontal pullback resistance) and short term ascending support-turned-resistance line. A strong reaction might occur below this level, pushing price down to our major support at 1.3216 (horizontal swing low support). Ichimoku cloud is also showing signs of bearish pressure, in line with our...
ASX is approaching our first resistance at 5989.2 (horizontal swing high resistance, 76.4% Fibonacci retracement). A strong reaction might occur below this level, pushing price down to our major support at 5871.9 (horizontal swing low support, 38.2% Fibonacci retracement).
Stochastic (89,5,3) is also seeing a bearish divergence and is approaching our major...
AUDJPY is approaching our first resistance at 83.06 (horizontal overlap resistance, 38.2% Fibonacci retracement, 61.8% Fibonacci extension). A strong reaction might occur at this level, pushing price down to our major support at 81.97 (horizontal overlap support, 61.8% Fibonacci retracement, 100% Fibonacci extension). A breakout below our intermediate support at...
Price is approaching our first resistance at 1.3988 (horizontal overlap resistance) and a strong reaction might occur below this level, pushing price down to our major support at at 1.3743 (horizontal swing low support, 100% Fibonacci extension, 23.6% Fibonacci retracement). A breakout below our intermediate support at 1.3914 (horizontal overlap support) might...
