pair is trading in side-move in 1.57 - 1.585 trading range.
Market is very close to trading range structure resistance.
We have a completed harmonic bearish cypher pattern,
pattern completion point matches perfectly with structure.
1.580 - 1.585 is selling zone.
1.576 initial target
1.572 second target
1. Fibbonachi retested. (61% - 78.6%)
2. Shooting star 4H.
3. Three pin bar at 4H.
4. 1H a big bearish engulfing.
5. Elliot wave is about to make the last push.
6. Trendline is downside.
7. Daily EMA are still in continuation to downside
Currently, there are two areas:
1. Around 0.71000
- The trendline should act as a support
- The round number 0.71000 should act as a support.
- RSI Divergence
Here we need one more criterion - bullish candlestick pattern on the 1h+ timeframe
2. Around 0.70800
- Previously worked support area
- Different Fibonacci levels
- Channel projection
- Cypher pattern, near...
- Fibonacci golden ratio
- Previously worked strong resistance area
- Round number 1.5000
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*This information is not a recommendation to buy or sell, it is used for educational purposes only!
The dow has broken out of the key triangle pattern and could continue its path higher to the all-time
high resistance. We will be looking for long opportunities off the key structure highs, making sure our stops
are below key lows.
CXY is approaching our first resistance at 7.0544 (horizontal overlap resistance, 61.8% Fibonacci retracement, 100% Fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 6.9899 (50% Fibonacci retracement, horizontal overlap support).
Stochastic is also approaching resistance where we might see a...
NZDCAD has recently hit the weekly support zone and could be forming a double bottom on a 4hr timeframe.
Strength and weakness indicators show NZD extremely weak and CAD extremely strong. At this key level, we could
see a reversal.
Updated View On WTI Oil (18 Apr 2019)
Back Ground: Oil is in a strong trend and it is very likely to go UP higher. The medium-term tgt is $68.8 region.
If you want good entries, 62 and 58.4 will be nice.
Target(s): UP 64.4 (TP1), 68(TP2)
SHTF: It will use 56 as strong support region.
DYODD, all the best and read the disclaimer too.
Feel Free to "Follow",...
HSI is approaching our first resistance at 30025.0 (horizontal pullback resistance, 61.8% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 27903.0 (100% Fibonacci extension, 38.2% Fibonacci retracement, Horizontal pullback support).
Stochastic is also approaching resistance and seeing a bearish...
In this video update, we take a look at the end of day trade we placed on our telegram channel.
USDCHF has been moving towards the yearly highs for some time now as the Swiss Franc weakens.
Typically, when a market tests a yearly high, we do see a reaction from the level, which we are anticipating
to be lower on this pair. If we do see a daily bearish close here,...
As we can see the Nasdaq broke through the all-time highs at 7702.50 this session.
But will price break highs or bounce?
Looking at the price currently, we are seeing a rejection of the all-time highs.
If the daily candle closes bearish, we could see downside to the previous highs at 7509.20.
A break and close above the all-time highs could see significant upside.
There is heavy Resistance from the Lower High trend line on 1D (bold dashed line).
If broken to the upside, a -0.82% high from the previous top may be made. The target on this scenario is 1.1353.
If rejected, it should test the 1D Support at 1.11815.
*Notice the 4H Channel Up pattern that resembles the one during February. This supports more the bullish break...