The usdcad pair rallied to hit the resistance level as initially predicted in my previous posts but couldn't hold above it. This negative closing suggests that the price will make a pullback with the initial target at the pivot point.
XAGUSD is bullish. Enter a long position. Trail stop loss.
Watch Pivot Point Levels For A Possible Entry. Specifically, watch for a rejection candlestick at pivot point.
EUR/ZAR hit take profit from the September 6th, 2022 trade idea. Link To Chart: Link To Image:
• The weekly S1 (0.9880) provided support for the EUR/USD, which has since attempted to close the gap. It has encountered resistance at 0.9935 and currently appears to be unsure. It might shift sideways in the near future. • Price declines are still possible as long as the pair remains below the descending pitchfork's Resistance Trendline, signaling a bearish...
The GBP/USD pair retested the downtrend line and has since fallen under the previous low of 1.1624. It will be interesting to see if it can validate its breakdown. After today's sell-off, a brief rebound is not entirely ruled out. GBP/USD may continue to move downward as long as it remains below the downtrend line. Technically speaking, the weekly S2 (1.1600)...
Wait for a price action signal like a Pin Bar, Rejection Candlestick, or Engulfing Bar for a long entry.
Price recently broke above the resistance and has retraced back to it. Look for reversal confirmations on a lower timeframe before opening buy positions.
• On the H1 chart, you can see that XAU/USD found support just beneath the downside line of the channel. Only a false breakdown and an upside turn were registered. It tested the S1 (1,706) static resistance (support turned into resistance). • It has formed a flag pattern in the near term, which is considered a bearish formation. Major uphill challenges are...
Technically, the USD/JPY pair is positive as long as it remains above the R1 (138.20). Upside barriers are represented by R2 (138.90) and 139.07. Additionally, the uptrend line functions as dynamic support; only a new lower low and a legitimate breakdown below this line might render the upward scenario incorrect and herald a bearish reversal.
On the h1 chart, you can see that XAU/USD is signaling significant downward pressure by breaking through the weekly S1 (1,722) barrier. we cannot exclude a temporary rebound. Before continuing to decline, gold may return to test and retest the S1 (1,722) level. The bias is still bearish as long as it remains below the downtrend line.
BTC/USD is stuck between 20,566 and 19,526 as seen on the H4 chart. Bitcoin could fall back down at least to the previous lows as long as it remains below the downtrend line and the weekly pivot point of 20,325. A larger rebound could only be triggered by successfully breaking through the downtrend line and recording a new higher high. Good Luck!
EURAUD hit the monthly support once again and bounced bullishly forming a double bottom with bullish divergence(D1). Price also broke out of the trendline and is retracing back to it. We can expect the price to drop to 1.45041 from where we can open long orders. The initial target for buys is the pivot (1.48430).
USDCAD has maintained stability above the monthly pivot and is now heading to the resistance level. The price might pull back towards 1.29850 before resuming the rise.
ETH on the 4h starting to put work in on the right shoulder of a Head and Shoulders pattern. With a breakdown of the neckline target would be 1.1k-1.2k The head and shoulders patterns are statistically one the most accurate of the price action patterns, reaching their projected target almost 85% of the time once break out is confirmed. It would take an extra...