We have been bullish on the USD for some time now. We've seen a break of our ascending channel and key level in the market in the latest bearish 4HR. Right now we're seeing some rejection of 1.38. Be careful trading this market today with NFP figures out!
EJ has produced some great setups over the last couple of weeks as the overextended bullish cycle continues. We can see a couple of great B&R setups. Will price continue to target the previous highs and form a double top? Will we see some retracement and bears sitting at this level? As mentioned previously, this pair is currently weakness vs weakness.
Two potential price paths have been identified. Will NZD weakness continue? Price residing in an interesting spot, back in our range. Price has broken out one to the upside and downside. Long term bearish on this pair. Will we see that strong downside break now?
USD/CHF - 4HR Chart Price has been trading in this ascending channel. Not long ago we saw 6 year lows on this pair. We have remained bullish on the USD throughout. Price is testing the topside of our structure. Will we see a breakout to the upside or a retracement before another bullish push?
We can see price broke out of an ascending structure following CHF weakness across the board. Price is now retesting the top of this ascending structure. Where will price head next? Two potential price paths for you follow. Have a great trading day and weekend!
Price cycled downwards, currently residing at a key level in price and a trendline test. Lets see how this 4HR closes. Simple structure on the HTF. Identify trend and key levels.
Price has hit our long term targets at the bottom of previous structure and since has found support at the level. Will we see NZD strength prevail and price break further to the downside for the rest of the week? Have a great trading day.
Price has followed our forecasted price path perfectly so far. Will we see a close above this level and a retracement for long confirmation? Happy Trading! Any questions don't hesitate to ask!
Price residing back down at our long term range support level. We've seen CHF bulls sitting at this level providing some resurgence so far today. Are we going to see a break to the downside this week and price continue to fall?
GBP/USD - 4HR Chart Price has tagged 1.41. Last week we saw price finish above 1.40. This key psychological level (1.41) in price is coinciding with the top of our ascending channel on Cable, so will we see a bearish day for the pair? Keep an eye on this pair. It is currently very fundamental. How much weight do these psychological levels have in these market conditions?
USD/JPY - 4HR Chart We've seen a bounce off our long term ascending trendline. Bullish cycle upwards imminent? Will we see price follow our forecasted price path? Do not use trendlines alone to take trades, however - they can be great to help you identify the trend on the HTF.
Who thought TA could be so simple? Identify trend, Identify key levels. Two potential price paths for the upcoming week. Lets follow this pair and see what happens! Have a great trading week!
Will we see further downside movement on this pair? We saw a break of structure last week after price tagged the top of our ascending channel around a key long term level in the market. Will we see price cycle down to the bottom of previous structure? This pair indicates strength vs strength in the forex markets at the moment. Want to know what this means? Drop...
Check out our previous ideas on this pair! After breaking our descending structure, price formed a double bottom before bulls took over the market. Strong bullish momentum in the markets has continued today with long term targets at the top of previous structure now in range.
We saw a JPY resurgence through the trading day yesterday. This has seen price retest the top of our range after the strong breakout. Where is price heading next on this pair? Are we due EUR strength across the board?
This pair identifies strength vs strength in the forex markets right now with both currencies strong across the board. We can see GBP is gaining on the NZD breaking through key short term Resistance levels. Lets see what happens at our long term key level in price. Use wider stop losses on this pair to account for the choppy price action.
All the information you need is on the chart. Confused by any of this? Or want to find out more? Just drop me a message and we can discuss it! Will we see price rally up to our yellow highlighted key level?
Here's an update to yesterday's idea. We've seen price fall from our highlighted level, in line with a triple top formation at a whole psychological level in the market. Make sure you check these whole levels and familiarise yourself with actual price. It can be very useful!