Candlestick_OB

Candlestick_OB Updated 

The S&P 500 index dropped to test the lower trendline of the ascending channel, which also corresponds to the support level of 4000.0, the 23.6% Fibonacci level, and the intersection of the 50-day moving average. It is likely that the price will rebound towards the level of 4085.0, with three potential scenarios: 1- The price fails to make a new high and tests...

Candlestick_OB

On the daily chart, the AUD/JPY pair is in a strong support area, where the yearly trendline intersects with the monthly uptrend line and a monthly zone, in addition to a bearish weekly trendline, Fibonacci 61.8%, and the 100-week moving average. This indicates a high likelihood of strong price support at the level of 87.6. However, on the 4-hour timeframe,...

Candlestick_OB Updated 

XAGUSD has completed the formation of a head and shoulders pattern with divergence on momentum indicators, and has made an initial break of the neckline. I prefer to wait for confirmation of the breakout before entering a sell position targeting 21.19. However, with the current global crisis in American and European banks, conditions may change at any moment, so...

Candlestick_OB

The USDCAD pair is in a long-term uptrend and is currently moving within a short-term triangle pattern. It has almost reached the end of the triangle pattern. I expect the price to break out of the triangle and continue its upward journey, with targets at 1.38200 and 1.39250. ------------------------------------------------------------------------- Let me know...

Candlestick_OB

The GBPUSD rebounded from the buying zone i identified in my previous analysis, but it is now consolidating just below the 1.2200 resistance level. The second wave has less momentum than the first, indicating divergence on momentum indicators. If the price fails to break above the level and forms reversal candles, this could signal a double top pattern....

Candlestick_OB

EURUSD is currently influenced by two forces: the head and shoulders pattern and the bearish engulfing candlestick from March 15th. However, it is also moving sideways due to market indecision in recent weeks. Looking at the 4-hour chart for future price analysis, the price appears to be moving between two levels, 1.0692 and 1.0535, as shown in the dark grey...

Candlestick_OB

The dollar index is moving sideways on the daily timeframe, so we don't expect significant movement unless it breaks out of its range. To determine this, we look at the 4-hour timeframe where we see the index is in a downtrend channel until it reaches a strong support level at 103.5. This level also coincides with the daily 50 moving average, Fibonacci 38.20, and...

Candlestick_OB Updated 

In our previous analysis, gold has achieved our targets after bouncing off the area we referred to. Currently, on the hourly and two-hour timeframes, gold is forming a double top pattern with a divergence on momentum indicators, indicating a lack of liquidity to push prices higher. We are waiting for the price to break the support and neck line of the pattern...

Candlestick_OB Updated 

The GBP/USD is currently moving sideways at the support line of 1.21389. The price has two options: either it decides not to break this support and continues its upward trend towards 1.22750, or it breaks the support downwards to retest the area where the previous support line, the descending monthly trend line, the 100-period moving average on the 4-hour...

Candlestick_OB

The EUR/CAD pair is heading towards a retest of the previous resistance area located between 1.46556 and 1.46278, which forms the upper boundary of the ascending channel with a monthly resistance line. I anticipate that the next target will be at 1.45102. ------------------------------------------------------------------------- Let me know your thoughts in the...

Candlestick_OB

The AUDCHF pair is currently heading towards a key resistance area located between 0.63057 and 0.62358. This area is significant because it includes the Fibonacci retracement level of 38.20, two descending trend lines, and the 100-period moving average on the 4-hour timeframe. My expectation is that the price will drop from this area towards 0.61584 and then...

Candlestick_OB Updated 

The NZDUSD pair is nearing the end of its corrective movement to retest the downtrend line from the 23.6% Fibonacci level, alongside the 100-period moving average on the 4-hour timeframe. I anticipate a bounce from this level, with the price heading towards 0.6150 as the first target and 0.6100 as the second...

Candlestick_OB Updated 

Gold is currently in a corrective phase towards the next buying zone, which is located between 1891.142 and 1876.102. We will wait for any signs of a reversal to consider it the end of the correction and a continuation of the upward trend towards 1922. However, if the price continues to decline below the level of 1865.10, it will be a sign of a bearish trend in...

Candlestick_OB Updated 

In our previous analysis of the dollar index, we mentioned that it would rebound from the supposed neckline of the head and shoulders pattern, and indeed it did. It is now forming another shoulder before ascending again towards the neckline and attempting to break it upwards. Our focus on the rebound location may be at the level of 103.75, which is considered a...

Candlestick_OB Updated 

The EUR/USD pair has experienced a rapid decline, touching the lower trendline of the descending channel. Currently, the price is preparing to retest the upper trendline of the channel, as well as the 50 and 100 moving averages on the 4-hour timeframe, and the 61.8 Fibonacci retracement level. We will be waiting for any signs of reversal candles at those levels...

Candlestick_OB Updated 

The GBPUSD has broken down from a bearish price pattern, touching the monthly trendline at 1.1800 before rebounding to retest the previous breakdown level at 1.19254. We anticipate a potential reversal from this level back to the downside, although there is also a possibility for the price to continue rising towards 1.19984 before reversing...

Candlestick_OB

The EURUSD has completed a double bottom pattern on the daily timeframe with a breakout above the neckline, indicating a shift towards a bullish trend. However, with every strong move and breakout, there is usually a corrective move to retest the broken level. I expect the price to retrace to either 1.06897, which is a previous support and neckline, 1.06601, which...

Candlestick_OB

The USDJPY pair broke below the ascending channel and the neckline of a head and shoulders pattern last week, followed by a significant momentum weakness. Based on my personal analysis, I expect the pair to undergo a corrective move towards the broken neckline, where it also aligns with the 23.6% Fibonacci retracement level and the 100-period moving average on the...