CADJPY approaching resistance recently broken under
POSSIBLE: Could break back over as bears v bulls is very close, and there may be a little bit of a triple bottom.
BIAS: Could bounce back down again and maybe hit a support further down, because overall trend is bearish.
If you look at NZDUSD on the long term charts (daily) you will see we are at a very important support zone!
We have had a nice downtrend lower with multiple waves, and no the trend may be exhausting.
I like the long wick that kissed the support level, and shows us where buyers are at. Can we create a potential head and shoulders here? Remember, this shows us a...
Looking for break out and attention to reversal candlestick formation!!
If the market breaks out at the resistance 1282.60, potential bullish trend continuation.
If the market breaks down, outside of the ascending triangle we will target the support level of 1241.56
EURJPY extends its concerted test of key support from its June low and78.6% retracement of the Q1 2019 rally at 120.79/78, which continues to hold for now. Although daily MACD momentum has turned lower, only a decisive break below here would confirm the break of the medium-term uptrend from 2016 to see the completion of a large bearish "triangle" continuation...
EURCHF has seen a conclusive break of key support from its 1.1056/51 range lows to mark a resumption of its core downtrend, in line with our broader bearish stance following the completion of a large bearish continuation pattern in late June. We look for the trend to stay directly bearish with support seen next at 1.0989/84, but with the next meaningful support...
Retracement resistance at 108.90/00 has capped to avoid a base to see a sharp fall, with support next at 107.60/50 USDJPY failed to clear key resistance from the 38.2% retracement of the fall from April at 108.93, avoiding a small ‘head and shoulders’ base to see a sharp turn lower within the recent range. Support ...
Our Proprietary Trading System indicates the following:
The Primary Trend (PT) given by the Global Monthly TIME BAR (GMTB) is currently Bullish
The Secondary Trend (ST), given by the Global Weekly TIME BAR (GWTB) is currently Bullish
The Medium Term Trend (MTT), given by the Global Daily TIME BAR (GDTB) is currently Bullish
The Short Term Trend (STT), given by...
AUDUSD weakness has indeed proved to be corrective as suspected, with the market surging higher for a break above the .7036 high of Monday to negate the bearish “reversal day”, and we maintain our view we are on the cusp of seeing a base complete. A close above the June high at .7023 and then .7036 remains needed to confirm a base and an important turn higher...
Key support at 1.3068/52 is holding. A break trough would set a large top USDCAD
USDCAD saw a quieter session yesterday, negating some of the gains from Monday to add weight to the view strength is corrective only ahead of a move back to retest important support from the 38.2% retracement of the 2017/2018 rally and 2019 low at 1.3068/52. Although further ...
The risk has turned lower for a retest of key support at 120.80/78
EURJPY weakness has extended after rejecting important resistance from its June high and 38.2% retracement of the fall from March at 123.35, as well as its 5-day average, removing support at 121.65 to warn of a move back to the lower end of the broader range. Support is seen initially...
Ending the day the price in gold touch the 142.00 zone and as usual we expect volatility in Friday for #Gold. We need to wait the daily closure for confirmation of a bear mommentum. The trade has already a good risk reward ratio but the zone 1310.00 still in play for further downside and good profits.
After the break of the ressistance $1317.19 we go straight to the $1345.00 zone and close the trade around $1342.00.
Now we have to wait if the market has a bull momentum the price can touch $1355.00. But we need a clear break of the $1345.00 zone for expecting new HIGHS. Anyway now its time to wait. Good vibes
In the next 3 candles we could see if the price support the $1320.00 zone (also the blue moving average) for a bull momentum looking for $1345.00 zone or if the price break below the $1320.00 we can have a pullback. But remember we are in a bull trend so stay cautious if you are in short positions.
Also we need a break of $1327.19 (blue choppy resistance) for the...
In the weekly chart we can see how the price close above the counter-trendline after the consolidation below the $1289.90 (Monthly Support) and after touching the inner trendline. So the price is looking for $1260.00 (Wick zone) but we have to stay focus in lower timeframes for any bull confirmation or a minimun pullback to the $1310.00 zone.