eurjpy is in a descending channel consisting of lower highs and lower lows. Price seems to have reached its first resistance zone. Resistance zone was previous support from past data and has now been broken and turned into a newly formed resistance which adds to the continuation of the descending channel. on top of that, price was in alignment with the fib...
Reason to Sell 1) 3220 = key resistance 2) Lower Low Lower High on Daily timeframe 3) Bat pattern = potential reversal
With JPY new set for tomorrow with the Bank Of Japan discussing the Monetary Policy and the governor of the BOJ speaking on the Bill Of Exchange, this could be a influencing factor as to where AUDJPY price would like to move. Currently, at the time of writing this article, we are sitting above the 78.750 monthly key level. We are respecting the descending trend...
Hi! Here are my thoughts for gold XAUUSD . - Gold is bullish since November 18th, 2018. Afterwards a solid pullback with a 38.2% rotation on the weekly and monthly chart. In fact, there was a failed breakout of the 1300.000 psychological level which was not more than a test of the downward trend on the daily chart since the high price 1348.000. Thus a lower high...
Last night we had exciting movement from cable, seeing price bounce off a daily support/resistance region. The main catalyst being PM May's visit to Strasbourg yesterday where it was rumoured she had gained assurances from the EU. However, as of today it is evident she was unable to win over the Government & Members of Parliament, with the governments chief legal...
Okay, so not a pair I usually trade or analyse but it was requested and I humbly accepted. So we can see bulls are in control at the moment, I see an upside move of around 80 pips before we can see a good reversal zone met. I will be looking for the descending trend line to be respected between the 71%-88.6% Fibonacci zone. This will also be a good rejection...
Last 2+ weeks now we have been watching the weekly chart. We watched as the bulls set their higher low compared to our December low of $3129 and bulls made $3338 the higher low. We were then watching a strong bounced towards $4k a few days ago but anything under $4239 was just a lower high on the weekly. I have to admit, I became optimistic the bulls may shift...
The drop today in bitcoin is forming a tweezers pattern for the past two day's price action. This shows a rejection of yesterdays price increase and the drop today also forms a lower high on the longer-term daily timeframe. The candle has not yet closed but this type of price action typically would result in an increased likelihood of a movement to the...
Sorry everyone, been away for almost 2 weeks now! Last chart post was back on Feb 8th and BTC had set its higher low at $3338 and we were watching to see how it would bounce. Knowing full well anything under $4239 is just another lower high on our weekly chart. Well 11 days later and here we are, same chart with minimal change. Bulls have pushed price up from...
GBP/AUD: Beginning with the monthly chart, we can see that GA is currently resisting off of the 1.8500 zone which it has done in many previous tests. As well as this, we also have a support level on at around the 1.7300 level which in previous tests has proven to be a strong level of support especially. Dropping down to the weekly chart we can now see the true...
This is my zones I have set for GBPAUD. I have them color coded so there will be no confusion since I utilize multiple time frames. I patiently wait for opportunities.
We have seen nearly a full week of slow and boring sideways action with BTC. I've had zero interest in the market all week as we were watching to see if the bulls could test the daily lower high up at $3766. After several days of minimal movements, we saw the bulls make a push this morning up to $3658 and are now consolidating back down from there into the range...
On the daily chart, the euro seems to have hit a new formed resistance which has been tested twice already. I'm expecting price to form a lower high than a lower low to confirm the bearish trend. Would suggest selling at the break of the pattern if you want to wait for confirmation or you can sell below the resistance line if you're an aggressive trader.
GBPUSD Opened higher, but this caused the pound to retreat from a strong zone of resistance, previously tested at 1.300 zone. Overall bias of a bearish trend on the higher Timeframe suggests Bears could continue their push further to the downside towards 1.2850, 1.2800, until support zone of 1.2700
Last chart we were watching to see if bulls could get their continuation from the small bull break they had. Bulls had topped out at $3766 and was watching for continuation either yesterday or today or would the bears step in? Unfortunately for anyone bullish, the bears stepped in this morning and once again it was another elevator down. I had been in an LTC...
S&P 500 forming lower low and lower high suggest to look for opportunity to short around 2626.90 will be a good area to short SL :2820 TP : Follow arrow
Bitcoin update: Price is beginning its first real test to prove if the recent rally is truly the beginning of a broader recovery, or not. The chart formation that is still developing can be the sign of the bottom that everyone has been waiting for, but it still has a ways to go in terms of proof. On the other hand, if price clears the newly projected support...
Last chart we were dropping to lower lows again. Bulls stopped the bleeding at least temporarily at $3129 and we saw a pretty uneventful weekend. Early this morning the bulls began to show up. Bulls got ahead of both 12 and 26 EMA on 4 hour chart but thus far have been unable to break $3486. Looking out at the daily chart we are rejecting off 12 EMA currently....