As it can be noticed from the chart, the price has been on a bullish run for quite some time. A nice uptrending curve illustrated on the graph serves as a powerful line of support. Moreover, the price is currently sitting on a zone of previous resistance now turned support. Therefore, we are waiting for a nice bottom to be formed before we can open long positions...
The price is currently testing the area of previous support now turned resistance that lines up with 50% Fibonacci retracement level. We are patiently waiting for the price to form a nice top around this local zone before we can go short and aim for the 1.0807 price mark (previous Lower Low).
As it can be inferred from the graphical illustration, the price has nicely completed the "impulse+correction" pattern. A nice top is being formed at the area of previous support now turned resistance that lines up with 50% Fibonacci retracement level. We are expecting for bearish moves to kick in and drive the price all the way down till the area of 149.3 major support.
As it can be noticed from the DAILY timeframe chart, the price has been dropping non-stop. After a strong impulsive move, a correctional move is needed. Therefore, we are expecting for the price to keep rising in the short run and reach the 1.114 area of previous support now turned resistance. Our long-term bias still remains bearish. Therefore, after the...
As it can be inferred from the chart analysis, the price is slowly approaching the zone of previous support now turned resistance. The same zone also lines up with the upper boundary of the formed downtrending parallel channel. We are gonna closely monitor the price action around this area before opening short positions and aiming for the zone of support...
Taking a look at the Weekly timeframe chart, it can be inferred that the price has nicely bounced off 0.52 major zone of support. Could it be a turning point? Will the price skyrocket from here? Only time will tell. Zooming into H4 timeframe chart, we can clearly observe that the price has formed a nice Inverse Head&Shoulders pattern on a zone of previous...
115.35 and 115.75 are zones to follow closely and look for SELL positions. The sentiment of USD/JPY is slowly shifting to bearish. 114.7 zone of support was a crucial area from where the price bounced off nicely. A massive bearish candle that was printed last week is another confirmation of the fact that bears are in control. At the moment, the price is...
Taking a look at the Weekly timeframe chart, it can be noticed that the price has been heavily rejecting the local crucial zone of resistance. The previous weekly candle has left a 700-pip wick and closed below the local structure. Zooming into the H8 timeframe chart, it can be seen that the price has formed some sort of a Head&Shoulders pattern. We are patiently...
On the left hand side of the screen, we can see the Daily timeframe chart analysis of the pair. It can be noticed that the price has been actively rejecting the ascending zone of support. If the current Daily candle leaves a wick and closes above the local zone of support, it can be expected that the price will keep rising and reach the 131.4 area of resistance on...
The current ongoing war between Russia and Ukraine has been having a huge impact on the USD. As it can be inferred from the chart, the price of EURUSD dropped all the way down and visited the area of 1.113 crucial support. After an impulsive move, a correctional move is needed. The price has corrected till the 0.5 Fibonacci retracement level, and we are now...
As it can be inferred from the graphical illustration, the price has broken and retested the upper boundary of the sideways moving rectangular range. We are now patiently waiting for the price to form a bottom at the zone of previous resistance now turned resistance before going long and aiming for the zone of resistance identified on the chart
The price has been unable to break the 0.831 zone of crucial support and has bounced off it. Moreover, the 0.835 zone of previous resistance now turned support has been broken and re-tested, which gives us another confluence to go long. Our target will be set at 0.847 region and we will be taking partial profits along the way! Happy trading, everyone!
As it can be inferred from the chart, a nice double bottom has been formed on the area of massive support aligning with 50% Fibonacci retracement level. It is highly probable that the price will keep rising and reach the area of 1.148 resistance. Happy new trading week, everyone!
As it can be seen from the chart, the price has nicely bounced off the local zone of support that lines up with 0.618 Fibonacci retracement level. We are expecting for the price to keep rising and reach the area of resistance indicated on the graph.
After failing to break above 1.147, the price formed a nice top and dropped all the way down till 1.13 zone of support aligning with 50% Fibonacci retracement level in order to complete the correctional move of the previous impulse. We are now patiently waiting to open BUY positions at a good zone and aim for the area illustrated on the graph.
As it can be inferred from the chart, the price has finally broken out of the descending trendline. Moreover, a nice Inverse Head&Shoulders pattern has been formed, which indicates a possible bullish continuation. We are expecting for the price to keep pushing and reach the area of $52k resistance. Happy trading, everyone!
As it can be inferred from the chart, the price has nicely rejected the 0.836 area of support that lines up with 0.618 Fibonacci retracement level. We are patiently waiting for the price to re-test the zone that the price bounced off once again, before we can look forward to opening BUY positions and aiming for the previous Higher High as identified on the chart.
As it can be noticed from the graphical illustration, the price has formed a nice "M" pattern and re-tested the neckline of it. As of right now, the price looks like it is about to drop like a needle. Therefore, we are looking forward to opening short positions and aiming for two targets identified on the chart.