Long term uptrend.
Price has been respecting this ascending channel.
We are very overextended on this pair.
Will we see a turnaround and reversal on the pair after topside of ascending channel has been respected?
Check this setup out.
We've seen 1.40 respected both as resistance and now support.
A key level in price coinciding with a key psychological whole level can act as a strong turning point in the markets.
Dollar has held firmer this week, but GBP has been strong throughout.
We have seen price break our descending trendline. Could this be a sign that things are starting to turn for the USD?
Have a great trading day, remember - Jobless Claims data release is out today and every Thursday.
We have seen a break of structure on the 4HR. Is this the first indication of a trend change?
Lets see how price moves over the next few days. Could we see further downside?
Also note how psychological whole levels have acted as support and resistance in this structure.
Have a great trading day!
XRP is in a really interesting spot right now. We have seen a small dip in crypto over the last few days. Is this a potential re-entry position on XRP?
Price currently resides in and around an ascending trendline after previous rejection of a key level in price. Could we see another bullish rally up to 1.90$ in the coming days?
CJ has been very bullish recently.
We've been in a risk off environment, USD and JPY hit with a poor economic and fundamental outlook. Traders are flocking to the CHF as an alternative safe haven.
Price is currently residing at the 121 whole level. We have seen some initial rejection with sell orders being triggered.
Will we see a turn in price this week or...
DOT/USDT - 4HR Chart
Two key levels have been identified. We're looking very bullish on this coin.
We have made a price forecast in line with the technicals. Lets see how it pans out!
Crypto is a very volatile asset class. Only risk money you can afford to lose.
EUR/USD - 4HR Chart
We can see price was respecting this ascending channel. We broke with a strong bearish push after price failed to test the upside of the channel.
We are currently testing 1.21 which has acted as a key psychological resistance level previously. Will we see the strong bearish move to the downside as forecasted?
Watch out for NFP release today...
Bring up a chart! Identify the trend, using trendlines as above to highlight a channel can be useful with this.
Then, identify levels in which price has gravitated towards and bounced from on a consistent basis. You can see three of these key levels in the chart above!
This is simple market structure and can really help you with chart analysis.
Not one of the more talked about coins - but here's some analysis
We've seen this coin continue to simmer after a breakout of this descending channel. What we're looking for is a break above this highlighted level, potential pullback before a confirmation entry to the upside!
Disclaimer: Be very careful with crypto investments. Only risk what you can afford to lose.
First analysis of the week we cover AUD/USD!
Price has been range bound (100 pip range). Will we see a USD resurgence, breakout to the downside of this range and a bearish impulsive move?
This 0.77 level is key and price is approaching out support zone highlighted in this analysis. A potential price forecast has been identified by the red path!
-Breakout of Descending Channel
-Structure Levels and 2020 Long Term Level
-Directional Bias - Bullish
-Dovish Economic Outlook for both
-Both currencies weak across the board
-Neggy JPY Interest Rates
Here we can see simple structure for EA, with two potential price paths for the pair based off this 4HR key level.
Price broke a long term descending trendline and since bulls have recovered bringing price higher. We are long term bullish on the Euro and awaiting fundamental confirmation before a strong bullish move.
However, for the time being it's possible...
Recently seen EURUSD reject 1.21. This is in line with a key psychological whole level and where price has previously bounced from, either as support or resistance.
The red line is a potential price path.
We are awaiting some hawkish fundamentals for the USD to act as a potential catalyst to break this structure and find bears entering the market.
Price has broken out of our descending channel today after crypto bulls entered back into the market after a dip to end last week as people sold their crypto assets because of Biden's fundamental announcement surrounding the Capital Gains Tax.
Will we see another push to the upside across the board on crypto this week after BTC dipped to as low as $48k?
Here we can see Cable trading in a range, the topside 1.40.
Previously, we've seen price tag and turn at 1.40 with sellers sitting at this whole psychological level!
Often you will find support and resistance levels coinciding with key psychological whole levels in the markets. Do some research and see for yourself!
We predicted this potential price path on the pair. 20 days later we can see price has played out according to our price forecast.
First and foremost - our directional bias was absolutely correct.
Yes, the move took longer to play out than we anticipated; BUT - it really proves patience is a key skill in this game that you must have to become profitable....