USDJPY (Daily) - Last week the Yen finally broke out of the 12 week consolidation zone with a strong impulsive move that came on Thursday. We saw the move violate both the 110.500 and 110.000 levels which are important numbers followed by a retracement move which came on Friday to retest the zone. As long as price remains outside the channel, we can expect more...
AUDJPY (H4) - Earier in the week we saw price impuse to the downside before it hit support and pulled back. It now looks like the correction move may be coming to an end and we may see another impuse which could potentiay break support and sink the pair lower.
Following yesterday’s sell off Gold appears to be forming another continuation pattern this time on the H1/30min timeframes. Price is currently wedged bewteen support and resistance and break of support could see gold sink even lower in the next few hours into tomorrow.
AUDUSD (H4) - Last week we saw the Aussie make a corrective move back to 0.76000 following an aggressive sell off from 0.77000 the week before. The market closed just below 0.76000 on Friday with a pinbar on the daily timeframe after price tested the level from below and failed to close above. On the daily timeframe this level is also currently acting as a...
Weekly Head and Shoulders? Strong bearish close last week on the weekly after bears stepped in from around 1.21500 driving market prices lower. This has created what seems to be a right shoulder with price pushing towards the neckline for the completion of the pattern. High volume and a strong bearish engulfing weekly close last week indicates that sellers have...
Price holding above psychological level 1.27000 following successful retest. If price remains above zone we can expect buyers to step in between tomorrow and Friday and possibly drive the pound higher to around the 1.28800 area. Break of trendline confirms entry.
The market recently rallied up and broke 27.00000, a psychological key level.
Last week saw the market pullback correctively and find support above the level.
If buyers remain in control, we expect the market to push higher this week with upwards targets around the 28.00000 zone.
Following an impulsive move to the downside last week, EUR-GBP has returned to 0.86250, the previous level of structure which was acting as support before the market broke to the downside.
If the level holds early next week it is possible that sellers may once again step in and attempt to drive the market lower with potential targets to around 0.85250 levels...
Following an impulsive move to the downside last week, NZD-CAD has returned to 0.88000, the previous level of structure which was acting as support before the market broke to the downside.
If the level holds early next week it is possible that sellers may once again step in and attempt to drive the market lower with potential targets to around 0.86000 levels...
Will GBP soar higher this week? Last week price closed well above 1.4000, a psychological level in the market. Should price continue to hold above this zone, a push to the upside and creation of a new higher high may be expected. If price fails to hold above this level and breaks below 1.4000, then sellers may step in for a push lower and bearish GBP.
NZD-JPY at crucial level for a potential strong break to the downside. Bears is control. Kiwi weakness likely to push the pair lower as seen on correlated pairs.
Price has returned to a previously broken key level, 7.7700 which is now acting as resistance.
Friday closed the week with a bearish engulfing candle on the daily T/F signifying the presence of sellers in the market.
Last time price visited this zone was in April and we saw strong rejection to the downside.
If sellers remain in control we can expect that the...
