Blackboot_Battalion

Blackboot_Battalion

EURUSD recently bounced off a multi year trendline support and currently forming a double bottom pattern on the 4 hour TF with the second low being a higher low. If price reclaims 1.11100 level which coincides with a recent broken down trendline support on the daily TF, it may signal a takeout which may push this pair higher. This level is also in confluence with...

Blackboot_Battalion

EURJPY trading in a strong bullish trend. I expect a minor pullback to around the 130.500 area in order for bullish continuation up to the 132.000 handle.

Blackboot_Battalion

GBPUSD recently broke out of the falling wedge pattern and is currently completing an ABC correctional pattern before resuming downwards. Expect GU to gain strength in the near term.

Blackboot_Battalion

More downside pressure for EURUSD. Expect a strong dollar in the near term .

Blackboot_Battalion

This pair is currently trading in a strong bullish trend. It is now retracing back to the bullish order block on the daily time frame. We scale down to lower time frames for entry confirmations once we hit that order block.

Blackboot_Battalion

EURJPY looks over extended and has hit critical support around the 124.500 institutional level. We see 2 reversal patterns formed on the 1hr timeframe namely a double bottom and and inverse H&S. look for longs at the break and retest of neckline

Blackboot_Battalion

EURAUD recently hit weekly demand zone at 1.46000 institutional level with a potential pinbar daily close. Scaling down to the lower timeframes we see a clear double bottom pattern which price broke the neckline to the upside. We expect bulls to step in for a correction.

Blackboot_Battalion

EURGBP is trading within a well established daily bearish channel. Scaling down to the 4hr timeframe, we see price is retracing and is approach resistance + channel resistance + 100SMA. Any rejection and a break of structure in this area should signal a move down to the next key support at 0.85

Blackboot_Battalion

GBPUSD just printed an inverse H&S pattern on the 4 hour timeframe. Price found support on the 200SMA and recently broke and closed above the 50SMA. THE next hurdle to tackle will be the 100SMA and with a break above the neckline of the pattern, price may head back to test previous swing highs.

Blackboot_Battalion

Looking at the 2hr timeframe, USDCHF found support at the 0.923 area forming an inverse H & S patter . The 50 and 100 SMA are both below price serving as dynamic support for this pair. If neckline of the said pattern breaks, a possible move to the 0.95 price tag could be a possibility.

Blackboot_Battalion

We see an established ascending triangle on the 4 Hour timeframe which is considered to be a continuation pattern. More confluence is justified with the 50SMA hovering just below price serving as dynamic support for the pair. A break above this pattern could trigger bullish pressure.

Blackboot_Battalion

This British Index just broke out of a consolidation phase inside a long term triangle on the daily timeframe with what seems to be a retest underway. Scaling down to the 4 hour timeframe we see a bullish pennant which is a trend continuation pattern and a break of this structure could push the FTSE higher. Also with risk on sentiment in the market about the...

Blackboot_Battalion

Price retested broken neckline of a H&S pattern on H4. After the retest, scaling down to the 2hr we price broke structure and is giving more signs for bearish continuation . With the risk on sentiment in the market I wouldn’t be surprised if this pair pushes lower. However, Canadian jobs data later on today could stimulate consolidation for GBPCAD.

Blackboot_Battalion

EURAUD recently broke below the 1.54 handle with a healthy bearish candle close. Previous day close is just above this resistance cluster which gives us more confluence for a bearish continuation. With risk off mood in the market, I would be surprised if this drop aggressively.

Blackboot_Battalion

Markets are reacting positively to the $1.9 trillion US stimulus package setting a strong risk off mood. Price broke below the 1.26 handle, if we get a strong close below this key area and preferably a retest of the broke structure then expect 1.245 level to get exposed which is a critical monthly demand zone.

Blackboot_Battalion

AUDCHF just recently broke and retested above 0.72 resistance. Currently we see price attempting a break out of the bullish pennant to the upside. If we get a close above this pattern, we should get a run up to the 0.73 handle, and a break of this level could send it to 0.735. Also with the risk off mood in the market set by the $1.9 trillion US stimulus package,...

Blackboot_Battalion

Price broke below major support zone to hit multi year lows. Any bullish move will be read as a retracement act in my books with potential selling pressure at the 38.2 fibo level which coincides with the broken support level.

Blackboot_Battalion

This minor pair broke below rising channel on the weekly timeframe and is currently retesting the structure. A bearish pin bar was printed at the close of last week’s candle and a potential weekly engulfment at the close of this weekly candle. Scaling down to the H4 timeframe, price is currently sitting on the rising trendline support. A break below this structure...