USDCAD performs backward test of lower range of narrowing triangle at 1.3920, the level is confirmed by descending trendline from 27.Jan and pivot point 1.3940. Selling USDCAD from current level, SL 1.3960, TP 1.3750.
USDCHF on 4H timeframe has tested the crossing of descending violet trendline from 11.Aug high and ascending yellow line from 18.Jun low. Rebound from the mentioned level indicates possible mid-term long trade targeting 0.9970-1.0000. First target is set below Dec'15 low at 0.9770. Entry point is exacted with intraday trendline on 15M timeframe. Stop-loss set at 0.9620.
I. EURUSD on daily timeframe has tested 1.1280-1.1310 resistance area for the second time this week. II. Resistance barrier is exacted with orange trendline on 1H timeframe; the line is projected through 26-28.Jan max levels. Resistance is confirmed by R1 pivot point 1.1348. Expect EURUSD falling from current level targeting 1.1170 and 1.1100. Stop-loss...
TWTR is a curious instrument to watch in the following sessions as the stock has tested daily descending trendline that connects close values of 09.Dec 2014 and 24.Aug. By now TWTR has technically touched its projection at 17.15. Keeping in mind stock behaviour during previous bearish craze we need to keep in mind potential shadow to the downside. 17.20 area test...
AUDUSD and GBPUSD have synchronically tested dynamic supports based on descending trendlines from 09.Dec and 29.Dec, accordingly. i.imgur.com - the screenshot reflects AUDUSD to GBPUSD correlation. Although in mid-term perspective it's evaluated as regular, in last month it's clearly above average value which supports view on correlated rebound.
USDJPY is testing dynamic support from min levels of 25.Nov-14.Dec. Although the barrier was broken for two times, it remains actual in line with daily S1 point 117.30. Test and rebound from the mentioned barrier would indicate USDJPY continuing move in the expanding triangle 117.30-121.50 targeting 119.20, static resistance line and 38.2% Fibo correction level to...
A. Decline from dynamic resistance 2.2050 down to brown trendline in 2.1700 area. B. Close above dynamic resistance 2.2050 (confirmed with PP 2.2100) would indicate upside test of 2.2250, R1 and green trendline projection.
EURUSD develops in a descending triangle since week beginning with current range of 1.0795-1.0830. Breakout to the downside opens way for further decline down to 1.0720. Likely scenario is EURUSD closing above upper line of the figure at 1.0830 and rising up to 1.0900 , R1 and descending trendline projection (violet).
GBPUSD is trading in a violet descending channel with current range 1.4390-1.4530. Rebound from supports 1.4380/1.4350 (later in the evening) would indicate bullish move targeting R1 zone 1.4550.
USDCAD has reached 1.4240, projected upward trendline from Jun-Sep 2015 extreme levels. Expecting USDCAD reversal from current level down to former dynamic barrier in 1.3830 area.
GBPNZD rose above dynamic barrier of 2.2100 on 4-hour timeframe which works now as support to the pair. Once above it, GBPNZD targets 2.2435.
As expected AUDUSD has declined back to September lows, then recovered to current price level. In short term persperctive I expect the pair to bounce from instant dynamic support at 0.7000 up to 0.7080 (38.2% Fibo retracement level and ascending trendline from September minimum levels). Stop loss set below 0.6945. In mid term perspective we could see...
AUDUSD has just tested intraday dynamic resistance line, which connects Tuesday's highs with projection of 0.7210. We're seeing immediate retracement from the level which confirms its relevance. Currently expecting I. Immediate decline from 0.7210 II. Quick test of 0.7225/30 resistance. Sell entry 0.7210, SL set 0.7245, target 0.7080. Target explained.
Price has left the consolidation zone that's been going on for some time, and if it manages to come back to the 0.97347 zone then we could expect some evidence for a last kiss trade
1. Descending triangle 2. Market structure resistance 3. Trend line resistance
1. MA Above price 2. Market structure blue box resistance 3. 0.382 Fib level.
GBPUSD sits on a long-term support line, projected at 1.4850 from minimum levels of 08.Jul and 04.Sep. 1.4850 is additionally confirmed at weekly timeframe by descending trendline from 2008. Test and rebound from 1.4850 could be used for entering mid-term long positions targeting 1.5180/1.5200 area.
Since 15.Dec USDCAD has been trading in the ascending channel that starts from 1.3673. Once we test it's upper border in 1.4000 area expect pair rebounding down to 1.3940. Further resistance is set at R1 pivot point 1.4016.