On EURCAD, we have a bearish setup with the price forming a supply zone yesterday during the American session, effectively creating a FOREX48 BLOCK and an FVG (Force Vector Group). In the first case, if there is a re-test of the 1.4690 level, we could look for confirmations for a short trade. In the second case, the FVG in the 1.4680 area, where, with confirmation...
Here is our detailed technical review for USDCAD. Time Frame: 4h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is approaching a key horizontal level 1.317. Considering the today's price action, probabilities will be high to see a movement to 1.310. P.S The term oversold refers to a condition where an asset...
Hello,Friends! Previous week’s green candle means that for us the US30 pair is in the uptrend. And the current movement leg was also up but the resistance line will be hit soon and upper BB band proximity will signal an overbought condition so we will go for a counter-trend short trade with the target being at 33606. ✅LIKE AND COMMENT MY IDEAS
With declining buy vol on weekly trend-up, it was a matter of time till a correction was needed. What looks to be a Head & Shoulder on daily, also seen on lower timeframes. Happy trading
On CHF/JPY, we have a bearish setup with the price breaking through a Forex48 block at the level of 161.88. That will be the point of interest to consider a short position if the market provides a double confirmation at M15 timeframe. The target will be 160.90. Let me know your thoughts. Happy trading to all from Nicola, the CEO of Forex48 Trading Academy.
Hello,Traders! DXY has made a nice Bullish correction from The lows, however it Looks overbought at The moment so as the Price is approaching the Horizontal resistance level Of 101.000 we will be Expecting a local pullback To the downside Sell! Like, comment and subscribe to help us grow! Check out other forecasts below too!
Hello,Traders! AUD-JPY is already making A pullback from the horizontal Resistance level of 95.400 And I think that the pair Will go lower still Sell! Like, comment and subscribe to help us grow! Check out other forecasts below too!
RSI chart is moving in the sellers zone (4H, 1H and 30m TFs) Price has fixed under 50EMA on 4H TF. I think the asset will continue to decline after fixing under the support level.
On EURCAD, we have a bearish setup. The price, following today's news and the tight monetary policy in the Eurozone, has reached a Forex48 Block, which is a zone around 1.4690, where we could look for a short trade entry point. Furthermore, if it continues to decline, we have another entry point at the level of 1.4570, where the price could potentially change...
SAND broke below 50EMA on 1H TF. The 50EMA crossed down through the 200EMA on the 1H TF. RSI chart is moving in bearish zone (1H and 30m TFs) The asset will decline after exiting the channel.
GBPAUD - 24h expiry - We look to Sell at 1.9000 (stop at 1.9075) The current move lower is expected to continue. Further downside is expected. Short term RSI is moving lower. Risk/Reward would be poor to call a sell from current levels. A move through 1.8850 will confirm the bearish momentum. Our profit targets will be 1.8820 and 1.8780 Resistance:...
My dear friends , My technical analysis for EUR/JPY is below: The price is coiling around a solid key level - 156.296 Bias - Bearish Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bearish continuation. Goal - 155.601 About Used Indicators: On the subsequent day, trading above the pivot point is thought to indicate ongoing bullish...
On EUR/AUD, we have a bearish setup following the overnight Australian Dollar data. Currently, there are two setups: Break of demand zone with a retest of the same before continuing short towards 1.63. Retracement in the 1.6540 area, where we have a Fibonacci Vertical Grid (FVG) and a Forex48 block. The latter represents a potential zone for a short entry. Let me...
after a nice long position, Im looking for short position here. we have two supply zones and Im not sure which one would work so I would go for 2 short positions.
Hello,Friends! We are going short on the USOIL with the target of 71.20 level, because the pair is overbought and will soon hit the resistance line above. We deduced the overbought condition from the price being near to the upper BB band.However, we should use low risk here because the 1W TF is green and gives us a counter-signal. ✅LIKE AND COMMENT MY IDEAS✅
Hello,Friends! We are now examining the EUR/JPY pair and we can see that the pair is going up locally while also being in a uptrend on the 1W TF. But there is also a powerful signal from the BB upper band being nearby, indicating that the pair is overbought so we can go short from the resistance line above and a target at 154.986 level. ✅LIKE AND COMMENT MY IDEAS✅
Hello,Friends! It makes sense for us to go short on USD/CHF right now from the resistance line above with the target of 0.855 because of the confluence of the two strong factors which are the general downtrend on the previous 1W candle and the overbought situation on the lower TF determined by it’s proximity to the upper BB band. ✅LIKE AND COMMENT MY IDEAS✅
Support forming on 4hr of AUDCAD, We could see the rejection at this level. Looking to target Longs today, USD news later also so could see some volatile market movement later today.