Here is my Multiple TimeFrame Analysis of USDJPY. If you think otherwise feel free to comment/post your anaylsis. Please Comment, Like, or Follow.
-Price has been in an uptrend for 3 consecutive months.
-Price then made a pullback and tested/respected the 38.2 fib level.
-The next month price formed sort of...
1.) Price is in the monthly/weekly supply zone. Price has had trouble breaking this zone and I think price was just consolidating and gathering momentum to make a bearish push.
2.) Price formed a double top, after an uptrend. A double top formation at the end of an uptrend can signal a potential reversal.
3.) After forming a double top, price then broke the...
After price finally made it's bullish push and breaking out above the resistance trendline, I am expecting price to pullback and test that area, creating a higher low.
Price broke out above but ultimately ended up respecting/meeting resistance at the 110.0 major point.
Price also retraced and tested the 78.6 fib level then ending it what appears to be a...
Take a look at my original analysis, to see how price has behaved.
Price has now completed the Inverse head and shoulder pattern.
Price has retraced to the 61.8 fib level. Here is where price found support at that fib level which also correlated with the daily support.
Price now began making its bullish move to the upside.
I am expecting price to test the...
-Price found support at the monthly/weekly support or demand zone and began it's push up.
-After an extended push to the upside (or bullish pressure), it appears price is preparing to make a retracement.
-Price broke through the daily support level now, I am expecting price to retest this area.
-After drawing a Fibonacci, it appears the 50.0 fib level corresponds...
-Price is clearly in an overall bullish trend.
But price appears to have become overextended, after a huge breakout (through the trend line) and has since been consolidating preparing to make a possible pullback/retracement.
Price has formed a Head and Shoulders (H&S) formation which is a sign of bearish pressure or a possible...
Looking to sell EURUSD
I am expecting the dollar to continue to gain some strength, which in turn will cause a weaker euro.
I think price will retest the previous low and find support at that area (the green zone).
I am expecting tp at the 1.163 area.
This week I am expecting some volatility in the market due to the fundamentals. On March 22&23 there is US news, where Fed Chair Powell will speak. This news heavily affects interest rates which can possibly make the USD stronger. There is similar news regarding the British pound on the 25th.
The higher a country's interest rate, the stronger their currency....
A double bottom formation is appearing with a 50% ret.
How to trade this chart:
Limit order above the neckline (dashed line)
Market order on break above resistance line (red dotted trendline)
Objective is the previous highs at the 100% level. Potential extension targets are plotted on the chart as 127.2% and 161.8% fib levels.
Good luck to all buying USD!!
A fibonacci cluster indicates potential reversal zones, on any chart, in any market. They are used to anticipate major support/resistance levels.
In this chart the cluster is made up by 4 different levels, consisting of:
61.8% retracement (dark red)
78.6% retracement (red)
127.2% extension (golden)
0.618 projection (black)
Bearish hidden divergence, in which...