EURUSD is close to an important decision area.
1.1665 - 1.168 is the zone based on the summer's low.
Being broken (daily candle close below), the pair will most likely keep falling.
The next major support to watch will be 1.16 - 1.161 structure.
Alternatively, forming a reversal pattern within the decision...
Welcome to this analysis about EURUSD and the 2-day timeframe perspectives. EURUSD in recent times as I discovered has formed a massive formation that is indicating bearish dynamic volatility developments to emerge within the upcoming times. In this case, we should consider that the formation here is mainly completed and that a high possibility is given...
Gold has been playing out perfectly. In our last analysis, we were short from the ascending correction and price moved down nicely. We are now in a correction and looking for rejection the 1780-1785 level where we have the descending trendline, fibonacci and structure level.
Waiting for gold to make one more move higher before entering shorts back down to the...
In our previous EURUSD analysis, we were short from the 1.19 area. Price dropped over 180pips and now we have a great opportunity to buy. Looking for 2 possible areas for longs.
This is all dependant on where USDOLLAR reverses. We have a possible head and shoulder formation for USDOLLAR which could mean EURUSD will reverse from 1.17 region. However, if USDOLLAR...
USDCAD is showing a case of the Dejavu effect (See linked chart for the post on The Dejavu Effect).
1. We had a descending ABC correction
2. Once price broke out, we saw a bullish correction which resulted in an impulse
3. We had a minor bullish correction before the next big impulse
We are waiting for price to create a minor bullish correction before jumping...
EURUSD is trading within a wide horizontal trading range on a daily.
1.166 is its support
1/191 is its resistance
Reaching the upper boundary of the range, the market started to fall sharply.
I will expect a further decline to the lower boundary of the range.
Being quite oversold, the price may pull back...
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Last week we were waiting for the right shoulder to be completed. We moved up nicely to the right shoulder and we capitalised on the XXXUSD shorts, particularly the EURUSD short (see linked chart for EURUSD analysis).
We are now waiting for bearish price action to confirm USD weakness. If we do not...
Today we will talk about DXY- US dollar Index, which we see it finishing five-wave cycle and approaching strong March highs resistance zone.
Well, USD IS still strong, but it's now moving into some late stages of a higher degree structure. We are also in the mid of the week when flows can change, especially when you have the FED minutes. Keep in...
As previously posted, we are anticipating USD strength this week. We correlated that with our USD pairs and can see that we have bearish set ups for all of them.
Please note that it would NOT be a good idea to trade them all - pick your favourite and trade that only.
Goodluck and trade safe!
Here is a very nice scalp trade that I took with my mentee this morning:
GBPUSD is relatively oversold,
the price formed a falling wedge pattern on 30m time frame and formed a double bottom formation within.
The resistance line of the wedge was broken this morning and we bought and a retest.
After a bearish movement from 93.50 to 91.90, Now DXY corrected to .786% fibo ret and again time to goes down.
Fed announcement was not surprising and Powel said we waiting for next move job claim and NFP to start tapering.
So, I think DXY will weak until next month data.
Last week we identified the head and shoulder pattern and we were anticipating XXXUSD shorts which played out well. We are still looking for further strength from USD. Looking for the completion of the right shoulder this week. Correlate this chart with the USD pairs and try and get and entry for the XXXUSD shorts.
Goodluck and trade safe!
NZDUSD formed an inverted h&s pattern on a key daily level.
Breaking its neckline, I opened my long position on a retest.
I expect a bullish move to 0.7166 / 0.7215
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Investors are back from holiday, labor day is over, there is today some jewish holiday I do not know the impact but anyway the stock market will be open today, maybe a bit slower than it should because of that holiday. We'll see what happens, but unless something insane goes on I see no reason for this currency pair to suddenly go crazy. It has been in a boring...
USDOLLAR is approaching a significant structure level which can also be the neckline for the bigger timeframe head and shoulder pattern, which is typically a reversal pattern.
Waiting for bullish price action at the neckline to then create the right shoulder. We can potentially take advantage of the bullish short term move by selling some XXXUSD pairs such as...
USDCHF broke and closed above a major weekly/daily falling trend line.
Now it turned into strong support and from that, I will look for swing buying opportunities.
The next goal for buyers is 0.947 (summer's high)
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