Fundamental Info : The report of Pending Home Sales US has just been released and showed much of an improvement in the US property market sector which has been slowing down during the pandemic. This could set a further strength to USD.
Technical Analysis : EURUSD on 4H chart has just made a breakout on the strong level of support at 1.1670 which could indicate a...
GBPNZD is trading on a key daily structure support.
On 4H time frame the pair is ranging.
1.9425 - 1.945 is the resistance of the range
1.9335 - 1.9355 is the support of the range.
To buy wisely, I will look for a bullish breakout of the range's resistance. (4h candle close above the underlined area)
They open your trade...
AUDCHF is approaching a daily supply area.
0.68 - 0.6815 is a potential reversal zone from where a bearish move may start.
Your confirmation will be a bearish breakout of a rising wedge pattern on 1H time frame.
While the price remains within its boundaries, though, the market remains bullish.
In case of a bullish...
Update for EURUSD.
Standing on a strong daily horizontal resistance,
the price formed a head and shoulders pattern.
I am waiting for its neckline breakout (hourly candle close below) to short wisely.
Targets will be: 1.177 / 1.175
In case of a bullish breakout of a head level (new higher high), the setup will be...
EURNZD is trading within a key daily structure resistance cluster.
On that, the price is currently consolidating within a horizontal trading range.
1.715 - 1.716 is its resistance.
1.7045 - 1.7065 is its support.
For now, I see two equally possible scenarios:
In case of a bearish violation of the support of...
Comments from Bank of England officials during the week, pointing to the need to reduce asset purchases earlier than expected, failed to lift the pound significantly. “The impact on GBP was limited, partly because the next step in the eventual policy normalisation process (rate hikes) remains still some way off. Despite the increasing Covid-19 cases, the UK...
• Pair broke above the June-July descending trend line
• Trading inside a falling wedge
• Falling wedge is a reversal bullish pattern
• Expect upward move in the short term
• Long at the breakout of the wedge with Tp at 1.2000
#usdjpy, 2nd july daily key reversal bar dictation further weakness ahead, 3rd july insurance bar confirmed weakness. jpy one year bullish extreme suspect reversal in jap as strength soon for medium and longer term.
Hey Traders so in my last post I had mentioned that the Euro could be topping well amazing as it is the charts were right!
Of course the FED also helped by saying they are going to raise interest rates in the future.
Does this mean the charts are the Holy Grail of trading?
Ha ha ha I don't think there is a Holy Grail in trading but lets go back in time today...
12th May 2021 formed lower low as 1.4590. 13rh May daily bar did not break lower low while broker higher high of previous bar high. pair forming accumulation phase till last month. Split your risk into two positions first from 1.4630 with half risk, second from 1.4720 with remain risk. Trend is bearish so use low risk in counter trend.
10th May daily key reversal bar dictating further weakness in copper. 12th & 18th May also showing weakness ahead. price forming distribution phase to short copper. 4.7550-7860 supply zone for short target 4.5220.
AUDUSD - 24/5/2021
There is currently Bearish trend and traget price 0.73968 (It will be also above this price) .
I will update continuously.Stay with me for more analysis.
Support & Resistance
Supply and Demand Areas
Trend Lines and Trend Channels