AUDUSD is approaching the year's high 0.74 level.
Yesterday, once the level was tested, the price reacted immediately and bearish engulfing candle formed on a daily.
Taking into consideration slowing market, chances are high that we will see a pullback.
With DXY weakness EURUSD keeps growing.
We saw a nice expansion this week and it's time to look for the next strong supply area.
I am paying close attention to the confluence area between:
1.2 horizontal resistance (current structure high);
Rising trend line;
1.272 extension of the last bullish leg.
I won't expect a...
NZDUSD has reached a resistance line of a rising parallel channel on 4H.
The price has formed the sequence of 3 dodji candles on that.
On hourly the price went rejected multiple times and formed a double top formation.
Now I expect a pullback to support of the channel.
Goal is based on 618 retracement of the last bull...
USDJPY is trading within an ascending triangle on the hourly chart.
Taking into consideration that the trend is globally and locally bearish,
I remain bearish biased and expect a trend continuation.
In order to catch the next wave, I would suggest being focused on 103.67 - 103.73 hourly demand area.
If we see a 1H candle...
“Make it simple, make profit”
Don’t forget to
“Follow” me and press “Likes”.
If you "follow" press,
In real time, you can check major sections and move,
Real-time "update I dea" can be checked.
I will begin NASDAQ ZeroMarket US100 Chart Analysis for November 30th .
It is a 30...
USDCAD is still trading below a strong daily structure resistance.
Yesterday's daily candle closed retesting the underlined level.
Because the trend is bearish, probabilities are high that the price will keep going in the direction of a trend.
I expect the price to drop.
NZDUSD is approaching a local structure high that was previously reached 12th of November.
the price has violated the support line of a rising wedge pattern once it reached the underline structure
and currently it is trading within a narrow horizontal decision range.
0.6896 - 0.6915 are the boundaries of that range.
EURUSD has reached a very strong demand zone yesterday.
We see a perfect match between a major falling trend line & horizontal daily structure support.
+ on hourly the price has formed a double bottom with a higher low as a confirmation.
the price has easily broken 1.718 resistance with a strong bullish candle and now...
The short signal issued on 191120 at 3559 was negated last week on 241120.
A long signal on 051120 at 3622 targets 3653 (All time highs) for the next trading week.
Users of the Helkin Ashi Candlesticks would have stayed long from the initial buy signal on 031120. There was no Short signal on the Helkin Ashi Candlesticks 25 days on. I personally use the HA candles...
A lot of bears have been piling into short USD positions. I think the time is ripe for DXY to prove itself and break out in a strong way. USD bears will be punished as bulls prevail and the dollar rockets higher.
USDJPY is still trading below a major falling trend line that we can identify on 3 days/daily charts.
While the price is below that we remain bearish biased.
On a daily after a strong bullish wave from 103.2 level the price has perfectly stopped on that trend line.
In the next two days we saw a clear indecision with a...
USDJPY finally broke and closed below 104.0 major structure support on 3d/d timeframes.
now this structure turned to resistance.
In my view this breakout defines midterm/long-term sentiment on the pair and sellers will push lower.
we can not define the exact time horizon for now, but the next goals for sellers...
1. Election result in uncertainty will fuel the bulls.
2. Stimulus package is obvious with Baiden will push the metal lower.
3. Stable and predictable economic policies, Paris accord and china deal will make the economic outlook better.
So blue is red for Gold. Stay updated with us.
due to uncertainty with elections, it is quite hard to find a decent trading opportunity.
the instruments are quite volatile and chaotic at the moment so I am waiting until it settles.
On eurusd after a bounce from the current structure low, the price is currently attempting to break above a major falling...
In this idea I explain how to leverage the S/R flip principle to find support in an area where previously resistance was found. I then use this level to suggest a long trade set-up towards the resistance trendline.