Looking at USDMXN here for USD strength to come in.
WE see price has been in this parallel channel structure for quiet sometimes now,.
LTF had a initial push up, follow by a correction to breakout of the HTF channel.
Now that price has manage to break out, I would look for LTF continuations now to get in on this bullish continuation buys to the...
About a month ago we took a look at US Oil & identified a classic reversal pattern called a head & shoulders bottom. We predicted a breakout from this level, however, there was a previous level of structure slightly above the neckline that I thought would be tested first. After nearly a month of consolidation, we've finally violated that level which allows me to...
Now that we've closed the New York session by putting in a LLLC below the 128.30's level, I'm now predicting to see a bearish continuation here on Canada. When will it happen? How will it happen? Who knows, that's the markets decision. All i can do is use my skills of technical analysis to try and make the best prediction that I can.
After being broken, previous...
Here we have a VALID SYMMETRICAL TRIANGLE on FX:NZDJPY that is formed when market is putting in lower highs and higher lows. This give us a signal that neither BUYERS nor SELLERS are able to push the price far enough to make a clear trend. This can also be referred to CONSOLIDATION , since the market movement is limited between the top...
PRICE IS STRUGGLING AT AN IMPORTANT STRUCTURE WHICH HAS ALSO FORMED A SMALL DOUBLE TOP. PRICE ACTION IS SHOWING THAT SELLERS ARE PROTECTING THIS LEVEL. THIS IS LOOKING LIKE A GOOD OPPORTUNITY TO GO SHORT IN LINE WITH THE DOWNTREND. IF PRICE MANAGES TO BREAK THE STRUCTURE LEVEL THEN THE NEXT LEVEL TO LOOK TO SELL IS AT THE 200 SMA WHICH HAS BEEN ACTING AS A DYNAMIC...
As we progress on the EURUSD we can see a potential change in Price Action to the high side on the EURUSD. As A combined technical score setup trade. I am looking for a couple of things to get me involved in this setup.
1. Pull back of Price Action to 0.382
2. RSI to be oversold
3. Double bottom or for price action to show signs of rejecting near term support
Another simple structure trade, going bearish on the AUD/USD
Have a very nice risk reward ratio that cannot be ignored.
Anxiously waiting the outcome with this trade, best of luck!
There is no doubt that the bigger trend right now in most of the USD pairs has remained bullish and fundamentally speaking there is no reason behind the recent USD bear moves but profit taking of the massive long positions.
Remember: Nothing moves in a straight line
Now about the technicals:
DXY fell sharply last week in a fashion that has happened once a...