At the moment with all the Brexit uncertainty going on, it
is difficult to try and implement any technical analysis.
Nonetheless, I have made an attempt to forecast the price
of GBP/USD based solely on technicals.
The chart is quite cluttered with information, but I will try
my best to explain what it is you should be getting from
USD/JPY Bullish Wolfe Wave
This analysis focuses on a potential bullish trend breakout and
subsequent bullish trend continuation. Looking at price action
we can see that the bullish support trend line from March to
August, 2018, is still intact - however, as is always the case
with trend lines it depends on where you connect the points,
thus, it is always...
USD/JPY Bearish Gartley and AB=CD Pattern
The bearish Gartley pattern formed in July is now being
accompanied by a bearish AB=CD pattern. I have posted
an analysis earlier based only the bearish Gartley pattern, but seeing
that a bearish AB=CD pattern has formed it reinforced my
At the moment price is running the risk of forming a
GBP/USD reached a very crucial and decisive level this week
despite giving back 'almost' all it's gains on Friday.
The 1.3299 high of Thursday hit the bottom of the primary
support trend line formed in January, 2017. This could be
seen as a case of support to resistance, however, if you look
at the yellow highlighted area on the chart you will notice
Bearish H&S Pattern DAX
Although the current bearish H&S pattern on DAX is not
symmetrical i.e. the right shoulder is higher than the left
shoulder, however, it still is indicative of a bearish correction
to take place; also, this unsymmetrical setup does form a
megaphone setup if you draw trend lines extending from the
right to left shoulder and from the low...
Bearish Alternative Bat Pattern
GBP/USD as GBP/JPY is still in a bullish medium term trend,
however Cable, too, is getting overbought on smaller time
frames. This is evident also with a close look at the RSI
indicator where the bullish trend has been broken multiple
times, and it seems to have difficulty getting above the
bullish trend line at the moment,...
Bearish Crab Pattern
GBP/JPY is still bullish overall, however, it is a little
overbought on the lower time frames. If you take a look at
the RSI indicator you will notice that the bullish trend line
has been broken.
The candle on the chart which correlates
with the break of the RSI trend line is highlighted by the blue
vertical line, hence, a sustained close...
DXY Bearish Crab vs Bullish Alt Crab Pattern
Currently price is battling for dominance between two
'crustacean's' i.e. a bearish crab and an Alt bullish crab
At the moment, looking at the close of this months candle it
seems clear that price is ready to dive lower and resume
the bearish trend that has been in tact since the end of
USD/JPY Potential Bullish Three Drives Pattern
After the long and medium term analysis for USD/JPY on the
weekly and daily time frame, the final analysis for the
short term on the 4 hour time frame is ready.
As previously mentioned in the other two analysis of USD/JPY,
the key level of support is the 110.30/00 level. On the 4
hour time frame however we could...
USD/JPY Bearish Gartley Pattern
Unfortunately my trade got stopped out last Tuesday when
price shot up some 36 hours prior to the FOMC meeting,
luckily I didnt go long sensing that this was only an impulse
prior to the upcoming events. Nonetheless, it does seem as
though USD/JPY is back on track to complete the bearish
Gartley pattern. As I mentioned in my...
USD/JPY Bullish Breakout or Bearish Continuation?
USD/JPY continues being range bound, even with a strong
USD and the Yen fundamentally weak after BoJ proceeds
with quantitative easing. Naturally, since the DXY is taking
a breather and fighting resistance at 95.15/20, this pair
will remain range bound, though new highs are of the
essence if USD/JPY is to...
GBP/JPY Bearish Three Drives
GBP/JPY is hanging, or better resting, on a very thin level of
intermediate support formed by a minor bullish trend line
currently. However, looking how close price came to closing
the gap between 142.20 to 142.60 at the end of May, 2018,
it seems very likely that it will now close this gap. The
reason why I believe it will, is...
A risky, but potentially lucrative long opportunity for
GBP/USD with the help of a bullish Deep Crab Pattern.
Obviously at this stage with all the uncertainties surrounding
the Brexit negotiations, it is rather risky to trade any pair
with GBP. However, GBP/USD has reached extremely
oversold territory on nearly all the time frames, especially
the daily time...
It looks like DXY will still be heading lower in the short to
medium term after last Fridays close below the 61.8% level
measured from 95.53 to 93.71, thus, a bearish 2618 trade
signal following the double top above.
At the moment it is difficult to assess the medium term trend
for currencies with all the political turmoil in Europe and the
A bullish 121 trend continuation pattern on GBP/JPY looks
promising and can soon be entered, if price remains bullish.
GBP/JPY seems to prepare itself for a larger move to the
upside and should also generate a longer term overall bullish
trend. If you look at my analysis from last week concerning
GBP/JPY where I forecast a large move to the upside coming
A potentially giant bullish move may be in the process of
forming for GBP/JPY. After analyzing price action, as well
as the RSI and MACD, since 1995 I noticed an interesting
pattern which now seems to be repeating for a fourth time.
I will try and explain the near 'chaos' in the chart as best as
I can in words so that it is clear, if not, please feel free
Before price makes a true reversal, whether bearish or
bullish, price and SMA's have to make a series of cross overs
in the direction of the reversal. Once every new level of
support for price and SMA's has been made and confirmed,
price then has the base from which to rally.
Of course the easiest and safest way to profit from a trend
reversal is a candle...
USD/CAD is starting to show some weakness, finally, thus
offering a chance to short this market as it starts a
corrective move towards the end of this month.
With the current DXY strength and potential for oil prices to
drop, USD/CAD should remain bullish in the longer term but
only after a much needed correction. By looking at the