NZDUSD is approaching our first resistance at 0.6722 (horizontal overlap resistance, 100% Fibonacci extension, 61.8%, 38.2%, 23.6% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 0.6619 (horizontal overlap support, 50% Fibonacci retracement).
Stochastic (89,5,3) is also approaching resistance and ...
EURUSD is approaching our first resistance at 1.1787 (horizontal swing high resistance, 61.8% Fibonacci extension, 38.2% Fibonacci retracement) and a strong drop might occur below this level pushing price down to our major support at 1.1622 (horizontal swing low support, 38.2% Fibonacci retracement).
Stochastic (55,5,3) is also approaching our major resistance ...
USDJPY is approaching our first support at 112.39 (horizontal overlap support, 100% Fibonacci extension, 23.6% Fibonacci retracement) and a strong bounce might occur above this level pushing price up to our major resistance at 113.11 (horizontal swing high resistance).
Ichimoku cloud is also showing signs of bullish pressure in line with our bullish bias.
Trading ...
GBPCAD is approaching our first resistance at 1.6937 (horizontal overlap resistance, 23.6% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 1.6827 (50% Fibonacci retracement).
RSI (89) is also seeing a bearish exit and we might see a corresponding drop in price.
Trading CFDs on margin carries high ...
XRPUSD is approaching our first support at 0.5228 (horizontal pullback support, 50% Fibonacci retracement) and a strong bounce might occur above this level pushing price up to our major resistance at 0.7555 (horizontal swing high resistance, 100% Fibonacci extension, 76.4% Fibonacci retracement). Ichimoku cloud is also showing signs of bullish pressure in line ...
BTCUSD is approaching our first resistance at 6875 (horizontal overlap resistance, 61.8% Fibonacci retracement) and a strong drop might occur below this level pushing price down to our major support at 5890 (horizontal swing low support, 61.8% Fibonacci extension).
Stochastic (89,5,3) is also approaching resistance and we might see a corresponding drop in price ...
GBPUSD is approaching is our first support at 1.3043 (horizontal pullback support, 50%, 38.2% Fibonacci retracement, 100% Fibonacci extension) and a strong bounce might occur above this level pushing price up to our major resistance at 1.3349 (horizontal swing high resistance, 61.8%, Fibonacci extension, 38.2% Fibonacci retracement).
Stochastic (21,5,3) is also ...
EURUSD is approaching our first support at 1.1698 (ascending channel support, 100%, Fibonacci extension, 38.2% Fibonacci retracement) where a strong bounce might occur above this level pushing price up to our major resistance at 1.1852 (horizontal overlap resistance).
Ichimoku cloud is also showing bullish pressure in line with our bullish bias.
Trading CFDs on ...
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Overall market analysis for GBPUSD for this week, it is still bearish!!
A shooting star candle appear showing that he buyers are loosing control, RSI exhausted with divergence its a good oportunity to a sell with a sell stop just below the candle
The conclusion in my analisis its long.
Price is currently in a D1 retracement, price was rejected at 50% fibo but price fail to break the last low and with that created a higher low, the logical sequence says price will be looking for a higher high near the 61.8 fibo.
This setup its invalidated if price break the latest low
On the daily chart the market break above and close above the Resistance(Red Line) but on the 2nd candle it closed below.
Hence, EURUSD on its daily chart hasn't formed a bullish bias yet.
However, on the 4-hour and 1-hour chart, the bullish bias has been formed. Based on the 1-hour chart and how most trend following trader trades, the green zone will be the ...
Price created a Higher Low with a piercing candle, and near the 61.8 Fibo level the probability is that price continue his way up
Saying that the conclusion its long
This pair is now at the bottom of a long-term trend channel, and could resume the uptrend at any time.
Don't forget to place a tight stoploss, as it might have one more leg down; if that happens we can exit the trade and enter again after that leg.
Stay sharp, and good luck!
USDJPY on its daily chart is still on the bullish run but as you can see on the daily chart, market close with a pin-bar having the tip of it touches the previous resistance.
On the 4-hour chart, I'm waiting for a retest of the high and preferably a pin-bar form for my shorting opportunity.
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