The NZDUSD formed a double bottom from the price action overnight, with the price rejecting the 0.6131 price area. This has led the NZDUSD to trade higher to retest the 0.62 round number resistance level. With no major news for the NZDUSD, the current move on the NZDUSD is primarily due to the retracement in the AUDUSD and the brief weakness in the DXY. As the...
Overnight, the AUDUSD fluctuated between the 0.67 and 0.6760 price range as the DXY retraced lower but recovered in strength toward the end of the trading session. Early this morning, the AUD CPI was released at 7.4% (Forecast: 8.1% Previous: 8.4%) which was significantly lower than expected. This signals that the ongoing interest rate hikes from the RBA are...
Hi everyone! Back again with another trade idea and set up on the EURUSD using smart-money concepts (SMC). Fundamental backdrop 1. Sentiments in the market has been very data driven. 2. Monday's durable goods order m/m printed -4.5% mainly due to Boeing, the aviation company. 3. Resulted in heavy bearish market sentiments on the USD as it was completely...
Hello Traders: First forecast/analysis to share after the long break. What I see here is a possible short term bearish move from AUDUSD. We can see on the higher time frame, price has reversed from a double tops price action. An ascending channel structure, as we know is reversal in nature, hence after the structure completes, we see price begin to...
A review of the price action from the European session and US session as end the month in the red. The USD found some buyers as expected which pressured major currencies although Gold moved up and managed to fend off the USD strength...for now. I look at some key levels to watch and the price action setups I expect to see play out. Markets covered...
Hey traders, it might be time to start looking for a selling opportunity on EURUSD. Anticipating the price to retest the Major Level of Structure (intra-day). So, stay patient and wait for the price to make a saucerful retest and look for a short opportunity.
Hi Traders, XAUUSD, has been on a hard bearish cannel since it broke below the major OB zone. It will be very smart to wait for the price to retest the intra-day supply area and then look for a sharp sell opportunity. You can fractalized the timeframe to 15Min to spot your entry (price action H&H or Flat top). Keep watching.
The EURUSD has been trading within a Channel Down since February 03 and today failed to close above the 4H MA50 (blue trend-line) yet again. This is added to a series of failed attempts and it maintains the bearish monthly trend. A closing above the 4H MA50 should be enough to restore the bullish trend-line and in that case we will target the Fibonacci...
The GBPUSD pair eventually broke below the Channel Up, since our previous idea at the start of the month, hit the 1D MA200 (orange trend-line) and rebounded: This has created a ranged trading action inside a +2 month Rectangle. The price is now trapped within the 1D MA50 (blue trend-line0 and 1D MA200 and if it closes above the 1D MA50, it will target the...
In February, we saw the US Dollar Index (DXY) reject the 100.85 price area to climb strongly to the upside due to several key events 1) Federal Reserve hiked rates to 4.75%. Although the initial reaction was a big drop to test the low of 100.85, the comments accompanying the rate decision indicated that further rate increases could be expected as inflation has...
I am investigating the extent to which USD/CNY is an indicator of future USD moves across the Majors. First, notice on the chart how well Price-Action and Elliot Wave concepts apply to USD/CNY. The levels of polarity chance sit right on the Fionacci retracements. The Breakout Aug 2022, in (A), follows the description of a breakout (Pre-Breakout PA) to...
Price has broken its downtrend market structure and is not making higher highs and lows. The Dxy is also losing strength after lower than expected "CB Consumer Confidence'. Here is the Play I will be taking on this pair: Buy Stop - 1.06416 Stop Loss - 1.06095 Take Profit - 1.08010
Dollar seems to be forming a bearish rising wedge pattern. Swing failure pattern from Jan 6 high also hovering in and around my daily level. Potential short down to $101.50
hello guys... FX:EURUSD have made a divergence in the RSI indicator! from my point of view, this upward movement that you witness is for an old QML! and an opportunity for correction. however the big and the main move is still bearish! hunting after the range on the top proved that the main move is still bearish, therefor I am waiting for the short...
Hey Traders! I believe we have a good shot for some more bullish pressure, we are still in this bullish channel, CAD GDP came out with negative numbers we should see CAD losing strength, against dollar. We haven't broken yet the 1h 50 moving average if we do this trade becomes from good to great, otherwise, a stronger pullback could happen 🔥 ✅
The USDJPY pair is about to make contact with the 1D MA200 (orange trend-line) for the first time since December 20 2022. This is just below the 138.210 Resistance (December 15 High). With the 1D RSI overbought (70.00), we deem this level as the best sell opportunity on the medium-term, targeting first the 1D MA50 (blue trend-line) and the dashed Higher Lows...
In this area, a corner pattern has formed with a valid divergence, which has the potential for price decline. We are waiting to break this pattern.