At the chart we can see that trendline from the bottom was broken with nice momentum. We now pulled back, also filled CME Gap and we have now met all the requirements for shorting BTC down to $7600 area. There is a possibility that BTC goes even lower if it breaks $7600, but we will be looking into it as time comes.
AUDUSD pair is currently trading at levels that were support from August 2019 until finally broken in February 2020. We retested this zone in March 2020 and then fell down. We are finally back at the crossroad and we're looking into price action to see what will happen next.
Most likely scenario is that we will reject this zone once again and go lower, but if we...
Today we're looking at Pound Yen and it looks like it is forming an ascending triangle formation (usually seen as bullish). We're looking into buying the breakout and retest of the top, or another touch of support trendline.
There is also a possibility that support trendline breaks to the downside (but chances for that are 20%).
We will be...
We are looking at the Gold chart here and although the pair was crazy bullish just couple of weeks ago, at this moment we're not liking the price action and to be honest if it loses 1720ish zone as support it could pretty much free fall towards 1700 area (where support trendline is).
This is why we are cautious about gold ATM and we would maybe even favor shorts...
EURAUD pair is currently sitting at support level with a descending triangle formation. We will be looking into the price action and see if resistance trendline is broken to go long, or if the support is broken to short the pair.
It seems that Kiwi is finally managing to break the resistance zone against Yen. We will be monitoring price action to make a corrective move after this impulse with nice bullish pattern on 1HR time frame to take this bad boy long.
One of the pairs that is giving us the clear view for the week(s) ahead is USDCAD. We are approaching support in a descending triangle formation. This formation is usually seen as bearish, as at resistance price was making lower highs and had one area of support.
This will be the 5th time pair touches this support, and remember more times support...
Hope you all caught some pips with our previous analysis on this pair ->
Now, the pair is creating a beautiful rising wedge pattern on H4, and it looks like price wants to test Supply Zone one more time before the big breakdown. If you want to be...
We're looking into retest of 1.0920ish zone for shorting the pair down to 1.0820 and possibly lower if we break support TL. We will wait for confirmation once price hits 1.0920 zone and short if all requirements are met.
EURUSD made a bounce of a support Trendline and on yesterday's news made a surge towards the top of the triangle and price is being rejected at the moment. If H4 closes like hammer inside of the triangle, we can expect that price will continue to fall and we can short the pair.
Stops ideally above the pin or at 1.10, Targets : 1.08000 and 1.06500
On the chart we can see that Aussie is making Triple top formation at institutional supply level. Therefore we can short the pair and target Supportive Trendline at around 0.64100 and 2nd target would be next institutional zone at 0.62750.
Stops ideally above first top (around 0.65730)
Despite the weakness across the board for USD at the start of the week, we still think that DXY will recover and go towards resistance areas by the end of this week. We have 2 plans for the pair if it tests supply zone and trendline resistance.
We will either see if it creates a reversal pattern and short the pair or see if it pushes through the resistance and...
Aussie Kiwi is trading at the recent top and institutional supply zone. Price rejecting from here would create a triple top, thus zone here is very good for shorting the pair. If we take a look at the wicks (on lower timeframes), buyers seem to be exhausted. Also a lot of shorts have been added to AUD in general by institutions so weakness is possible across...
NZDUSD pair is atm breaking through supportive trendline. If H4 closes below and we make nice corrective move to retest the broken trendline along with some bearish pattern on H1, we are looking into shorting the pair towards it's lower demand zones at 0.5850
As you can see in the chart EURNZD is close to the upper resistance trendline that was spotted on Daily timeframe. On 1h last 3 times we rejected it we had some sort of Doji shooting star candles before the drop. We are looking either for that kind of formation or some bearish pattern to short the pair down towards 1.76 demand area.
After strong demand for CHF as one of safe-heaven currencies during Covid-19 peek, USD has recovered it's ground and now is trading within a triangle. Looking back at monthly and weekly, USD buyers were stepping in strongly so we are looking to buy the continuation of the trend.
If we see resistance breaking we will be looking into finding nice setup and riding...
Lately whenever we thought EUR is doomed it pulled itself back up. We are facing support one more time now and we are looking to see if we are going to break it or not. If we do end up breaking the trendline, we will be waiting for nice corrective move to retest the broken trendline and execute short trade towards demand area at around 1.06500.
DXY is currently...
Here's our outlook for GBPUSD pair. It has been under bearish pressure for quite a while creating lower highs. We are currently at support, waiting for a nice break and a corrective retest within some bearish pattern to take the Cable short.
Once appropriate setup is found, we will update this idea.