The EURUSD pair seems to have difficulties breaking below the 2018 low of 1.1176, printing bullish candlestick patterns in the last two days. Even though the pair has been trading in an overall downtrend for a few months now, notice the bullish wedge pattern in forming. Sellers are losing steam in pushing the price lower to large extent. In addition, the pair...
The NZDCAD pair broke above a long-term trendline which has started in late 2016 and formed what looks like an inverse SHS pattern. A daily close above 0.9300 would mark the pattern as triggered and confirm a buy setup. This week's RBNZ rate meeting will likely create volatility in NZD pairs and either confirm our bullish bias or put the trade on hold. Like...
Hi traders! Here we have a beautiful setup on NZDUSD. After the initial strong up-move following the Fed meeting, the pair gave back its gains to trade near a confluence of a horizontal support and trendline support. The current H4 candle shows that buying momentum is building up, which could send the pair further up. Like our analysis? Please hit the "Like"...
After a strong down-move following the dovish FOMC meeting yesterday, USD/SEK seems recovering at an important demand zone. The pair is trading inside a rising channel and has reached near the lower channel support, which aligns with a horizontal support and the 61.8% Fib level. Today's candle could provide the needed confirmation to enter with a long. Like...
The USDCAD pair is forming a very nice buy setup on the daily chart, after recently finding support at the confluence of a rising trendline and the 61.8% Fib level (February 27). In March, the pair broke above a triangle pattern and completed a pullback to the upper triangle line. The current price action is extremely interesting as a long confirmation, given...
We broke and close a rising wedge continuation pattern on the last H4 candle close. Right now we are retesting the support trendline of the wedge. If we see a LL-LC after the retest (you can drop a timeframe to the H1 to look for this), expect price to move toward the targets. Move SL to B/E after TP1 is hit. Goodluck!
CADCHF is trading near a horizontal resistance and has recently entered into a consolidation, forming a bearish wedge pattern. This is a continuation pattern, and the price seems to be breaking out to the downside. Further to the upside, the longer-term trendline could provide strong selling power. Like our charts? Please hit the "Like" button and feel free...
The NZDJPY is having difficulties to break above the 76.50 level, forming what looks like a triple top pattern on the D1 chart. The current price is also close to the 61.8% Fib level, which looks to hold so far. Note that we draw the Fibonacci retracement from 72.37, to avoid the flash-crash from January 3 to interfere with our analysis. Like our charts? Please...
We see a Doji forming after an uptrend by h1 chart + some other signs which I have drawed on the chart. Comment your thoughts below :)
EURCAD formed a promising buy setup after breaking above the falling channel and finding support at a longer-term trendline earlier. The pair now trades close to a horizontal support level. The pair fell significantly after the ECB press conference last week and bad news about the euro area may already be fully priced in. An important factor for the EURCAD pair...
After ranging since the beginning of 2019, NZDCAD is now approaching an important trendline resistance on the daily. The trendline has started in late 2016 and has been tested multiple times so far. We need to see a bearish candlestick pattern on the trendline to enter with a short position. A break above the trendline would aim for the 2018 high of 0.95. Join...
This morning's Australian GDP report caused a sell-off in the Aussie as investors assess the likelihood of an RBA rate cut. GDP growth came in 0.2% q/q vs 0.5% expected. From a technical standpoint, the AUD/NZD pair has formed a valid sell setup which is now confirmed by a fresh 2019 low. The SHS pattern has been triggered, a pullback is completed and there seems...
The Swiss franc vs Japanese yen pair seems to find support at the lower boundary of a rising channel, a horizontal support and a trendline pullback around the 111.15 level. Recently, the pair respected a longer-term rising trendline and picked up its underlying uptrend.
After an amazing bullish breakout that I forecasted in one of my previous analysis (link below), USDCAD is trading close to a horizontal resistance at around 1.3380. The Canadian dollar has been hit by somewhat lower oil prices, and a break above 1.3400 could lead to a retest of the 2019 high around 1.3650. To the downside, the pair seems supported by the...
Downside movement is expected for the Euro against the US Dollar in coming weeks. 1W: On the weekly chart we saw a large head & shoulders reversal pattern form, and price has since broken below the neckline support & found sustained resistance holding below it. We've also seen a smaller ascending trend line broken to the downside with a weekly candle close...
Hi traders, here is a potential sell setup in EURNZD. The pair reached the upper boundary of a falling channel, risk-on mode supports NZD in today's trade so far, and end-of-week profit-takings may push the pair lower. The up-move seems overstretched in the downtrend. The trade offers a good R/R ratio overall.