GBP/JPY 4HR - Remember yesterday we posted analysis on the pair expecting a break and retest move to the upside. We didn't get triggered into this trade as price didn't come back to test our key level, but we certainly saw the bullish move.
However, price now testing our 4hr resistance as expected. Will we see a break or a bounce heading into next week?
NZD/USD has been on a long term uptrend since March 2020. Zooming into the 4hr we can identify an ascending channel that has been respected for some time.
Here can see that key levels are being broken to the upside and price is coming back to retest the level as support. From these levels we can take out long positions as a break and retest setup.
It will be...
GBP/JPY 1 Hour chart - Possible buy opportunity forming in line with our higher time frame analysis! See our previous analysis on the higher time frames too!
This is EUR/USD on the 4HR Chart. We can see price is testing our longer term ascending channel and we could see a possible break. Watch this 4HR candle! The purple level is our long term level marked on the Daily chart. Our blue level is a lower time frame level that price has respected numerous times.
GBP/JPY - 4HR Structure
We can see here that price is trading in a flat channel, with 2 bounces off our 4hr resistance and support levels.
Zoom out to the daily chart and we can see this pair is in a long term uptrend, and nearer the bottom of our 'bigger picture' ascending channel.
Therefore, we can anticipate that price will break out of this structure to the...
EUR/NZD Update. This is the 4HR Chart.
We can see price broke back into our descending channel.
NZD is incredibly strong at the moment, breaking our long term support level and now approaching the bottom of our descending channel.
This is GBP/USD on the 4hr chart. In most recent price we can see we broke a key level yesterday and we can see price has revisited our level quickly after. The blue circle at the top indicates where trendline bounces and whole psychological levels can be used in harmony to take high probability entries! If you remember we posted GU analysis on the 15 minute...
USD/CAD - Daily Chart -
We can see two potential long term price paths on this pair. We've seen a double bottom formation coinciding with a key psychological whole level in price (1.27). We could dip to test this level again or continue the upward momentum following a strong bullish candle yesterday. The blue highlighted zones represent key levels in the...
GBP/CHF - 4 HR Chart - There are four different technical aspects on this chart.
First is the double top, where price has formed a 'V' type pattern.
A psychological level which price often respects.
Thirdly, a break of an ascending channel which indicates sellers entering the market.
Finally, we can see a key level in the market which is acting as support...
Simple technical analysis on Cable today.
Price tested 1.37 three separate times (a whole psychological level) and rejected all three times. Price has moved 125 pips to the downside. Combining key psychological levels with double and triple tops is a powerful trading confluence.
We also have fundamental news with Boris Johnson to outline further lockdown steps...
EUR/NZD Analysis on the 4 hour chart.
Price has hit a key level coinciding with our top descending channel trendline. We have seen some sharp rejection off this level. Check out how simple it is to find key structure levels in the market!
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We can see EUR/JPY is currently trading around our long term resistance zone. We have highlighted our flat channel and marked key levels in the market. Price has been gravitating towards these levels and bouncing.
Scaling down to the 4hr timeframe we can see a short term support zone marked with a black horizontal line.
