A symmetrical triangle has formed at the higher time frame 4H & D1. Furthermore, a double bottom is visible at the lower timeframe 15M & 30M. Price didn't have enough momentum to break the triangle diagonal resistance level due to the minor resistance zone at 0.9155. Therefore, price is expected to break up. However, it should be cautioned that it has been an...
Price is currently at minor resistance zone creating an ascending wedge at the smaller time frames. If price doesn't break the 69.90 minor resistance zone on Monday and also opens lower then we're looking at an end of a consolidation to a downtrend. Furthermore, price failed to break the Daily 50SMA as price has shown to respect this zone historically.
Price has been unable to break the Daily 50SMA acting as dynamic resistance at price 105.80 this week. These failed attempts have created a head and shoulder pattern visible at the H1 and H4 timeframe currently completing the right shoulder. Price is expected to drop due to the strong resistance of the Yen as a safe haven. A A A short move should mostly be...
A triangle has formed at major resistance level. There is a possibility for the market to continue with the bullish trend or to have a major pullback until the major support zone before returning up and breaking the major resistance zone. The D1 wicks indicate bullish momentum rejection. If price breaks the W1 200 top bollinger band and MN 50SMA, and doesn't...
A head and shoulder is completing with the 2nd shoulder seen at the H1 or H4 time frame. Price has failed to break through the minor 1.3170 resistance zone indicating consolidation forming the 2nd shoulder. The diagonal support level acts as a neck line as well. A break out can potentially reach until the 1.2995 major support zone.
There are 2 minor support zones holding price above the 0.9156 minor support zone where it crosses the diagonal support zone. Price has shown multiple rejections at the 0.9185 major resistance zone. If price goes to retest the 0.9156 minor support zone, expect a short. Otherwise, consolidation so as to build enough bearish momentum. Another way to perceive the...
Price retested to the 0.7235 minor support zone. Currently, bullish momentum is being gathered for a strong bullish move. Using the 200 Bollinger Bands at W1 and 50MA at MN, they show that the price range 0.7250-0.7260 is being held at that major support zone. If price breaks and retest to go down, then we're looking at a new downtrend developing or major pull....
Price has been in a partial uptrend channel ranging between the major resistance zone 1.1935 and minor support zone 1.1705. It should be noted that at there is an uptrend continuation ascending triangle forming where the diagonal uptrend meets the partial uptrend channel. Expecting a strong bullish momentum towards the next resistance zone 1.2485
Price has reached the resistance zone 0.6780. It will require a strong bullish momentum to break through or else price will consolidate between the 0.6780 resistance zone and 0.6450 support zone so as to gain enough momentum to break the resistance zone
The market had a strong bullish momentum starting last mid-week and continuing on next week Monday breaking the consolidation that was taking place. Price is now at a resistance zone 0.7390. Price may retrace and break forth the resistance zone to continue the uptrend or fail to break it and retrace back to the support zone at 0.7035 before attempting to return to...
