The double bottom pattern consists of two lows around the same level of support and indicates a possible bullish reversal signal.
Price is also resting at a key level of support and resistance
Once those levels of support or resistance are broken, the supply and demand dynamics which produced them are shifted
Support is the amount of demand that is strong...
EURAUD is heavily oversold after a sharp bearish move.
Today the price formed a double bottom pattern on key level.
Relying on a current fundamental data a bounce is expected.
Please, support this post with like and comment!
Here is your NZDJPY Focus for today;
According to our Currency Strength Meter Mark, the NZD reads stronger than the JPY, thus only looking for BULLISH/BUY opportunities on this pair.
NB: These reading apply best on H8 to daily timeframes, and fluctuate from time to time.
Like and Subscribe for more.
Gold tend to have a deeper retracement like 50-61.8 fib level. The wavetrend indicator is still very much bearish so I will probably get back to this set up next week when gold has pulled back to the 50 or 61.8% fib level then will look for a buying edge. Good luck to us!
1. Basic Rules (Filter Trend using H4 timeframe)
a. Only take Long when the price is above...
Price is approaching our pivot at 1.93710 in line with 100% Fibonacci retracement. We see a possible a potential climb towards our take profit at 1.94461 in line with 23.6% Fibonacci retracement. Stochastics D% is at a level where bounces took place previously.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites...
We are noticing a break in upward momentum in USD JPY especially in H4, H1 graphs. The only reason could be that the market has reached to a weekly resistance level which is a strong structure level.
So we could find a possible short opportunity here in this zone between $114.00 and $114.35. Place your entry only if you get a proper price action....
NZDCAD has tested a major daily support zone. We have built a base and formed a double bottom pattern. Price has also crossed over my moving averages. Not the downtrend of lower highs and lower lows. Draw a trendline if you must, but this trend is over.
One can enter now, or await a higher low confirmation with a close above recent highs of 0.8717. Some interim...
GBPUSD has traded into support prior to the USD Retail Sales data, which measures the total receipts for retail stores in the USA. Technically the pair is holding the 38.2% fibo level from the daily chart as support, and we anticipate a rebound into the recent highs at 1.3750.
Price is trading in an ascending channel . It is reacting from our sell entry level of 154.834 and can potentially dip to our take profit level of 153.285 which is also our Fibonacci retracement level of 38.2% and 50% Fibonacci projection . Our stop loss is placed at 155.135 which is our graphical overlap resistance. Our bearish bias is further supported by...
EURUSD has been on a downtrend since the September 03 Double Top on the 1.19100 Resistance. The price action has been below (never had a 4H candle closing above) the 4H MA50 (blue trend-line) since September 07 and the 4H MA200 (orange trend-line) since September 16.
Unless the pair closes a 4H candle above the 4H MA50, the trend remains bearish but recently the...
Price is consolidating in a bearish channel . We spot a potential entry at 1.07509 in line with 23.6% Fibonacci retracement , 100% Fibonacci Projection and parallel channel towards our Take Profit at 1.06998 which is a graphical swing low. Technical indicators are showing bearish momentum.
Any opinions, news, research, analyses, prices, other information, or...