The price has nicely broken the 1.253 zone of resistance and we are now waiting for a re-test of that zone before expecting further bullish moves. As it can be inferred from the current price action, the price is being unable to push to the upside and needs some correction before impulsive moves happen again. Thus, we have marked the zone of support illustrated on...
As it is can be clearly seen from the graphical illustration, the price is continuing its bullish movements to the upside. The price managed to drop below the zone of support of the ascending channel and take out early entrants before going up again. From another point of view, the price simply visited the area of 0.831 crucial support and gained volume before...
As it can be inferred from the graphical illustration, the price has been trading within the boundaries of a formed sideways-moving rectangular box for quite a while. The price has nicely rejected the upper boundary of the box and is now headed to the downside. If the lower boundary of the pattern gets broken, it is more than possible that we will see the price...
Last Friday, we published an article scrutinising Stop Loss hunting and everything about it. If we take a look at the USD/CAD chart, we can clearly observe that the price spiked below the previous Low 1.243 and went back up immediately. Due to the fact that market participants tend to set their Stop Losses around this particular level, the liquidation phase took...
As it can be identified from the graphical illustration, the price is currently sitting at the area of the lower boundary of the formed ascending channel. Moreover, the price has also been able to approach the 0.831 area of massive support. We will be closely monitoring the price action and waiting for confirmations before opening possible BUY positions and aiming...
Yes, the price was able to break and close above the 45k zone of strong resistance. But has it been able to continue its upside movements? Does not look like it. If we observe the DAILY timeframe chart, we can identify that an up-trending channel has been formed and the price has nicely rejected the upper boundary of it. The question is the following: did the...
It can be clearly noticed from the graph that the price is currently forming a nice bottom on the zone of crucial support. Considering the fact that the price has been dropping for quite some time, correctional move is definitely needed. A nice bearish candle left a huge wick to the downside on the 30th of March, rejecting the local zone of demand and printing...
As it can be inferred from the graphical illustration, the price has nicely rejected the lower boundary of the up-trending channel. The overall sentiment of USD/CHF remains bullish, and thus, we are expecting for the price to keep rising and reach the upper boundary of the formed channel.
Taking a look at the WEEKLY timeframe chart, it can be inferred that the price has nicely rejected the zone of support that lines up with 0.618 Fibonacci retracement level. Zooming into the DAILY timeframe chart, we can observe that the price has been nicely rejecting the local zone of 1915 support. We are carefully eyeing the price action and looking forward to...
Taking a look at the DAILY timeframe chart, it can be inferred that the price is currently in the process of completion of the correctional move. Narrowing down to the H4 timeframe chart, it can be observed that the price is trading at the level of previous support later turned resistance. Going even further and zooming into the hourly timeframe chart, we can see...
As it can be inferred from the chart, after breaking out of the ascending trend-line illustrated on the chart, the price has been ranging between the borders of a formed consolidation box. Right after the markets opened a few hours ago, the price dropped and closed below the formed rectangular box to grab some liquidity. It is highly possible that the price will...
As it can be inferred from the graphical illustration, the price of USD/CAD has been dropping for a while. After a strong impulsive move, a correctional move is needed. The price is currently sitting at an area of crucial historical support. We are expecting for the price to consolidate for a bit, form a nice bottom, and keep rising in the short term. The target...
The zone of $37600 is serving as a powerful area of support and the price has successfully bounced off it. From the looks of it, the ascending triangle that the price was attempting to form has been broken out of to the upside. $42600 is the only area of support in the way. Thus, if the price manages to successfully break and retest the stated zone, it is highly...
As it can be inferred from the chart, the price is currently testing an important zone of resistance. The previous DAILY candlestick has left a nice wick to the upside and closed bearish. On the lower timeframes, it can be observed that a nice top is being formed and the price is preparing to launch to the downside. 0.928 area of previous resistance now turned...
The sentiment of EUR/USD still remains bearish, as the price keeps printing Lower Highs and Lower Lows. This morning, the price managed to spike above 1.098 zone of previous support later on turned resistance, which also acts as the resisting point of the previous lower-timeframe Lower High. However, it was not able to hold much longer above the local zone and it...
As it can be inferred from the chart, a massive ascending channel has been formed and the price is currently testing the upper boundary of it. Just like it is written in the books, after a massive impulsive move, a correctional move should happen in order to complete the pattern. We are expecting for the price to form a nice top and drop all the way down till the...
After tapping into the zone of all-time high last week, the price of gold has been rapidly dropping ever since. From the DAILY timeframe chart, it can be witnessed that the previous DAILY candlestick has left a huge wick to the downside and closed in the favour of buyers. Yet, the current DAILY candle looks super bearish. It had been forecasted that the price is...
As it can be inferred from the graphical illustration, the price is still ranging between the boundaries of the downtrending parallel channel. Taking a look at the current price action and few previous DAILY timeframe candles, it can be observed that the price is nicely rejecting the local zone of resistance and preparing to drop even further. If everything plays...