As we discussed on Monday's FX market scan USDCHF looks like it's finished its correction and is making another run to the downside on the daily.
See you on the next call in Market Mentor on Monday at 5 pm AEST
Cheers
Dale
DISCLAIMER: Just ideas, no crystal ball, NO ADVICE. The information presented here is general in nature and is for education purposes...
As we identified on Monday's FX market scan, Euro weakness persists.
See you on next Mondays call at 5pm AEST.
Cheers and trade safe
Dale
DISCLAIMER: Just ideas, no crystal ball, NO ADVICE. The information presented here is general in nature and is for education purposes only. Nothing should be considered to be advice. You should consult with an appropriate...
As we've been tracking for a while, USD looks like short-term strength is confirmed leading to bullish candlestick reversal patterns on the weekly.
Expecting a continued correction of the current strong downtrend in DXY before finding some resistance at some point and continuing the downtrend for the foreseeable future.
After finding buying activity in the demand zone that we identified last time, Gold rallied nicely.
Now it looks like it's been rejected and looks weak.
What's next?
Check out the video for my thoughts.
"DISCLAIMER: Just ideas, no crystal ball, NO ADVICE. The information presented here is general in nature and is for education purposes only. Nothing should...
After a decent pull back yesterday which we have all been waiting for. the buy back looks very strong for BTC today
a healthy correction was needed and we finally got it, price was attracted to the demand zone.
This 4hr candle is very bullish which could see another decent run up in the next 24hrs.
BTC 4hrly
ETH has cleared previous resistance at the 790 level, pierced through the supply zone with ease of movement and hit a new level of resistance from 2018.
I am expecting ETH to continue to push up to higher levels.
this is a weekly chart so we can see previous levels and set targets.
ETHUSD
1 week
BTC has shifted down to the previous consolidation zone. showing many signs of a reversal but also many signs that price might hang around at this level for sometime.
Everyone seems to be waiting for a decent pullback. finally BTC looks like it may correct creating LH's on the 4hrly.
a correction down to the mid 16k will be a healthy correction it has previously...
could this be a big double top?
if so I have a supply zone where I would expect a retrace to consolidate at.
Also lining up with the 23 on fibs
BTCUSD weekly
ETH had a double bottom which played out perfectly driving price to a key level of resistance.
Price was rejected but still maintaining the solid uptrend.
A bounce off the 38. on fibs should give another nice impulse back up to that key level.
a close above will take us to previous structure at around $538
Wicks to the down side tell me that buyers are in...
BTC has formed a Double top failing to close above resistance.
RSI is showing bearish divergence.
I am expecting a break in trend with a consolidation period at Zone 1
a close below support could take us to Zone 2.
BTC is in need of a correction after last weeks rally.
BTC 4hr
BTC has tried multiple times to close above this level of resistance.
Its wicked to the 14k mark but sellers are in control stopping the price from creating further upwards market structure.
I think a decent correction is due.
potentially pulling back to the Demand Zone. which also happens to a consolidation zone
I will be keeping my eyes on this long term...
BTC is in a new area of consolidation testing $13,300 twice over the last 5 days.
At this stage I am still bullish for a few reasons:
Dominance is still going strong at 61.1 % (Thank you paypal)
We are in a zone where we haven't seen solid closes over the $12,900 mark since 2017, BTC is now creating new market structure.
The wicks to the downside indicate that...
