🔸 4H CHART EXPLANATION: . . 🔸 Price is on a downtrend. . 🔸 It has broken the Descending Trendline, however, the bullish strenght was not enough to break the Resistance Zone. . 🔸 Instead, the structure has been broken to the downside. . 🔸 Will look for a lower timeframe setup. 🔸DAILY CHART ANALYSIS:
🔸 WEEKLY CHART EXPLANATION: . . 🔸 Price is facing the Ascending Trendline. . 🔸 It showed some rejection signals at the current zone. . 🔸 We observe that the last downside impulse was very pronounced, however, price is on an uptrend. Higher highs and higher lows can be spotted. In case the Trendline can not hold, then the Support Zone would be the first Target of...
🔸 WEEKLY CHART EXPLANATION: . 🔸 Price is on a Downtrend. . 🔸 We observe that was rejected at the confluence zone between the Descending Trendline and the Resistance Zone. . 🔸 If it breaks to the upside then the bullish scenario would be active, and the target of the move is the Resistance Zone. And, if price continues to the downside, then it has potential to...
price has respected the levels near the bottom range of the current price. As we are continuing to test the support levels and create a more prominant bias and the market condition begin to strength one can look for a potential in holding AAL towards previous highs. Although the time range for this correction to occur could take weeks over time as the consumer...
Dear traders, I had posted my monthly view on March 27 Now things have moved enough to create a monthly view for June. There are two things I want to mention which I try to tell myself every single day Technical Analysis if just a way of logical thinking and deciding your own course of action amidst market uncertainty. These lines , averages and...
🔸 4H CHART EXPLANATION: . 🔸 We have two potential scenarios to consider on this pair. . 🔸 The bullish one, in case price breaks the Resistance Zone, this could lead to a bullish move towards the next zone at 1.31500. . 🔸 And the bearish, in case price breaks the Ascending Trendline to the downside, this could lead to a bearish move towards the Support Zone at...
🔸 4H CHART EXPLANATION: . 🔸 Price broke the Descending Trendline. . 🔸 After that, it consolidated on a Descending Wedge, which was broken to the upside. . 🔸 At this moment price is facing the Resistance Zone at 1.09800, which, if it is broken, it has potential to reach the next zone at 1.1200. . 🔸 Will look for a lower timeframe bullish setup. 🔸DAILY CHART...
DAILY CHART EXPLANATION: 🔸 "AUD/USD On the Reversal Zone": . . 🔸 Price has been on a downtrend for more than two years. . 🔸 It is now facing the bottom of the Descending Channel, which is a reversal level. . 🔸 Be careful, we are considering this level as a rejection zone but just for a retracement of the downtrend, this is not a trend change. . 🔸 Will look for...
🔸 "NZD/USD Long Term View" Weekly Chart: . . 🔸 Price is facing the Weekly Support Zone. . 🔸 If it bounces here, it has potential to reach the Descending Trendline. . 🔸 If the Descending Trendline is broken, then the next target zone is the Resistance Zone. . 🔸 We are waiting for a lower timeframe bullish setup to get involved on this pair. 🔸 DAILY CHART...
DAILY CHART EXPLANATION: 🔸 "USD/CAD Breaking the Downtrend" Daily Chart: . . 🔸 Price has been on a Descending Wedge for more than a year. . 🔸 It has broken the Descending Trendline of the Wedge today. . 🔸 We consider it has potential to reach the Resistance Zone at 1.35300, and, if this zone is broken, then the next target is the Resistance Zone at 1.36500. . 🔸...