Looking at the DAILY-timeframe graph on the left-hand side of the screen, we may observe that the previous candle has managed to close impulsively bullish and approach the crucial area of resistance highlighted on the chart.
Zooming into the H8 graphic, it can be inferred that the price might be headed towards the 1.364 - 1.365 region before forming a Double Top...
As our previous EURUSD idea played out perfectly, we're now looking to break our previous target which currently holds up as a resistance zone. The initial attempt to breakthrough was rejected; however, as the wedge keeps on getting tighter and tighter it is clear that the breakout is inevitable. Buying off the trendline might be a move for some traders; however,...
Happy new trading week to all the community members! As we're currently resting around a 1.355 level, there is a clear short term opportunity to sell this pair. A vividly developed range is always a good way to make some quick bucks on this potential 120 pips downside move. Would you enter this trade?
Good time of the day, traders. In today's technical analysis, we're taking a closer look at EURUSD that has been on a beautiful symmetric uptrend for quite a while now. It's look like this decisive directionality is slowly running out of the steam though. These periods are usually followed by consolidation areas (a simple box range) where we would build more...
After our successful USDCAD short trade using the "Flag" pattern as a bearish continuation, we have another opportunity slowly but steadily forming in the kitchen. If we zoom out, we can see that this is all a part of the W (double bottom pattern) that has been formed due to recent USD weakness. The common misconception here is that, people sometimes expect...
As Bitcoin prices continue to surge, you may wonder wonder where the next area of interest will be. According to recent price development, HKEX:20 ,000 is the next target on the radar.
In February, we predicted that shorters would be wiped out and that a HKEX:20 ,000 pullback was likely. The sequence of events has unfolded as expected, with emotions flooding...
The bearish flag pattern is a common technical analysis pattern that is used by traders to identify potential trend reversals or continuation. This pattern forms when there is a sharp downward move (the flagpole), followed by a brief period of consolidation (the flag), before another downward move.
In the case of the USDCAD pair, we can see that the pair has been...
The pin-bar candle formation that can be observed from the Daily timeframe implies that short to middle-term bullish moves may continue for now as the price might potentially head towards the area of resistance plotted on the chart that lines up with the 61.8% Fibonacci retracement level also aligning with the descending trendline identified on the graph.
As it can be inferred from the H4-timeframe chart, the price has nicely rejected the local area of resistance highlighted on the graph. From here, we are expecting for the price to drop all the way down till the level of support (Weekly TF Higher Low) pictured on the graphic.
Judging by the recent price development, some sort of an ascending triangle has been formed and the price is currently attempting to reject the upper boundary of it. If we get to see a short-term drop and re-touch of the highlighted ascending diagonal area aligning with the 61.8% Fibonacci retracement level, we might consider entering long positions and targeting...
As it can be inferred from the Weekly Timeframe chart, the price is on the verge of approaching the ALL-TIME HIGH levels highlighted on the graphic.
Looking at the recent price development, we might observe that a rising wedge pattern has been formed, the bullish breakout of which we are awaiting for further upside move.
A mini-support has been formed at the...
As it can clearly be inferred from the DAILY timeframe graph of GBP/USD, the price is approaching a major level of resistance that it can possibly reject.
We will keep monitoring the price development around that zone and enter short positions upon confirmations.
As it can be inferred from the DAILY timeframe graph of EUR/GBP, initially, the price has heavily bounced off the 0.872 area of support and made its way to the upside. Afterwards, we witnessed the ability of the price to break above the 0.877 - 0.878 key region and massively impulse to the upside. Then, we witnessed a correctional phase as the price pulled back...
Both technically and fundamentally, the sentiment of USD/CHF is leaning towards bears. As it can be inferred from the recent price action, a crucial area of resistance lining up with the 50% Fibonacci retracement level has been rejected, which implies that a new bearish wave might be around the corner.
Thus, we are closely monitoring the price action and looking...
Looking at the Daily timeframe graph on the left-hand side of the screen, we may observe how the price has nicely rejected a crucial area of support highlighted on the chart by printing a huge wick candle the tail of which has bounced off the 61.8% Fibonacci retracement level drawn from the beginning of the recent impulse.
Zooming in and observing H16, H8, and H4...
As it can be inferred from the graph, the price has formed a nice descending channel pattern and is on the verge of breaking the lower boundary of it. If a breakout happens, we will see an impulsive drop. However, we are expecting for a one more re-touch of the descending trendline of the triangle before a full-scale “jump off the cliff” mission can be commenced.
Last week, when the price was sitting around the 1.202 - 1.204 zone, we executed long positions and aimed for the current level of crucial resistance. Now that a decent double top pattern has been formed, we are expecting for a deep bearish leg and liquidity grab before the uptrend may resume. We are aiming towards entering short positions upon further price...
As it can be illustrated on higher-timeframe graphs, the price has successfully broken out of the wedge plotted on the chart and is now on the verge of re-testing the penetrated structure before POTENTIALLY continuing its bullish movements.
We are awaiting for a possible dip below the current support before going long and aiming for the target pictured on the graphic.
