Firstly, let's take a look at the Weekly timeframe graph as illustrated on the left-hand side of the screen. We may observe that the price has been consecutively printing massive bullish candles after having rejected a crucial level of support (1802 - 1810) highlighted on the graphic. Zooming into the Daily timeframe chart, it can be inferred that the price has...
The price has successfully rejected the ascending trendline plotted on the graph that lines up with a key area of support and is now impulsive to the upside. Due to the fact that a valid bottom pattern has not been fully formed yet, we would expect for the price to re-touch the entry zone highlighted on the chart once again before initiating a full-scale bullish launch.
Looking at the 2D timeframe chart of USD/CAD, we may observe that a descending triangle pattern has been formed and that the price has successfully broken the upper boundary (the descending trendline) of it. Using the Fibonacci retracement tool, we might identify that the 38.2% key Fibonacci level nicely lines up with a crucial area of previous resistance that now...
As it can be identified from the higher-timeframe graphs, the price has formed some sort of a triple top, which is a sign of incapability of a bullish break. From here, we are expecting for the price to perform a solid, potentially a 100-pip drop and reach the level identified on the graph (area of the previous Higher High that lines up with the 50% Fibonacci...
Taking a look at the Monthly candle closure, we might observe that the price has printed a massive wick candle to the upside, implying that bears are in control. A massive impulsive push from the 0.876 area of support into the 0.888 level of the upper boundary of the descending channel plotted on the graph, might bring some buyers into the game, as they would...
Now that the price has rejected the declining trend-line illustrated on the graph that nicely aligns with a key resistance level and the 50% Fibonacci retracement level identified on the DAILY timeframe, we are pretty positive about the fact that the bearish moves will continue. Have a great Tuesday. Investroy
After breaking and re-testing the lower barrier of the descending channel plotted on the graph, we might conclude that the current sentiment for this pair is clearly bearish. Recently, the price has been ranging within the boundaries of the mini-descending channel identified on the chart, and at the exact moment, the lower barrier of the same channel (that...
The massive bearish reversal at the 1960 - 1950 region has led to a dramatic drop in the price of Gold. Luckily, the price action has been absolutely fantastic and ideal for entering both short and long term trades and riding the bearish waves. We may observe how the price has been actively following the impulse + correction pattern. At the moment, we are sitting...
First and foremost, taking a look at higher-timeframe graphs, we may observe that the sentiment of EURGBP remains bearish for the time being. Failure to break the 0.88970 area of resistance has brought to a dramatic price drop and a seriously bearish set of DAILY TF candle closures. As we know, the market moves in "impulse + correction" phases. We have...
After failing to continue growing above the 0.93 area of crucial resistance, the price has managed to initiate a decent drop and close below the 0.926 zone of previous support that now acts as resistance. Looking at the higher-timeframe graphs, we may observe that the price has been able to print long and nice wick candles and reject this local area of resistance....
First of all, taking a look at the DAILY timeframe chart of EUR/USD, we may notice the inability of the price to break below the 1.065 - 1.068 area of support and a formation of a huge wick candle. What is more, an ascending channel can be identified and we can observe that the price is stuck in a consolidation box at the lower barrier of it. It's a "break or...
As the current structure stands, we are shifting our bias towards bears for the upcoming period of time. The price has been able to bounce off the 1.068 - 1.069 area of support and is making its way to the 2 important recently penetrated key zones plotted on the graph: 1.086 area of resistance that lines up with the lower barrier of the portrayed channel...
Initially, we were expecting for the price to re-visit the 1.093 area of resistance before initiating a full-scale drop and reaching the 1.07 area of crucial support that aligns with the 0.618 Fibonacci retracement level. Now that the price has nicely lined up at the local support level, we are awaiting some confirmations and a nice bottom formation before...
After initiating a massive drop from the 1.10330 area, the price has been declining ever since. As we know, the price moves in phases, meaning, after a massive impulsive, a correctional leg is needed. Currently, the price is sitting on a crucial area of support and we are anticipating for a short-term bullish phase to kick in, drive the price up, reach the zone...
Monitoring the H8 timeframe of USD/CHF, we may notice that a number of confluences has lined up nicely for a short bias. First of all, it can be observed that the price is trading within the borders of the descending channel plotted on the graph. After forming for a whole week, the price has been able to print a nice Head&Shoulders pattern around the area of the...
Looking at the Daily timeframe chart illustrated on the left-hand side of the screen, we may notice that the price has printed a massive DAILY rejection wick and failed to break above the crucial area of previous support that now acts as resistance. Zooming into the H4 TF graphic, it can be inferred that some sort of a descending channel has been formed and the...
Judging by the HTF view, the sentiment of the market is bullish. We were able to witness a pump earlier in the morning and we are expecting some more bullish action once a mild correctional move is completed.
The price has been able to reject the 1.352 area of previous support later turned into resistance and initiate a dramatic drop. The 1.344 key level has been heavily penetrated and we are now waiting for a re-test of this zone for our plan to be fulfilled and for us to look for executing short positions and to aim for the area plotted on the graph (Weekly TF previous LL).