Candlestick_OB

Candlestick_OB

The AUDUSD has broken below the support level of 0.6700 and formed three consecutive daily doji candles. Currently, it is heading towards retesting the previous level we mentioned, which also coincides with a weekly downtrend line, an annual uptrend line, and a 23.60% Fibonacci retracement level. I anticipate the price to bounce off this level and continue its...

Candlestick_OB

The daily silver chart has shown a strong engulfing candle that has absorbed two days of trading, along with a divergence on momentum indicators between the recent lows and touching the last low of an ascending yearly trendline. These are all indications of a potential change in price direction from bearish to bullish. Looking at the 4-hour timeframe to try and...

Candlestick_OB

After forming Double bottoms pattern on the daily chart and a bullish engulfing candle on the weekly chart, the bullish scenario seems more likely for gold. Looking at the 4-hour chart to evaluate the gold's movement for the upcoming week, we can see that gold has started moving in an uptrend channel and made its third pivot at 1863, which is also a previous...

Candlestick_OB Updated 

We may witness sideways movements of the AUD/NZD pair within the range of 1.08962 and 1.08584, and it could potentially form a reversal pattern such as double tops or head and shoulders before continuing downward towards the level of 1.0800. If the level of 1.08500 is breached downwards, the price could reach there quickly. Conversely, if the price breaks above...

Candlestick_OB

The USD/JPY is nearing the end of its uptrend within the ascending channel, unable to make any new highs and showing signs of divergence on momentum indicators. It appears that a head and shoulders pattern is forming, waiting for the final shoulder to complete before attempting to break the neckline at 135.5 and potentially experiencing a bearish move towards 134...

Candlestick_OB

The EURJPY currency pair has reached the end of its upward trend, as shown in the chart. It has faced resistance at several levels and has been unable to create new highs. Momentum indicators also show signs of divergence. However, the price is now approaching an important support area where the upward trend line meets the 50-period moving average on the hourly...

Candlestick_OB

The CADJPY is still in an uptrend, although it has shown signs of weakening over the past three weeks. This is evident from the converging peaks and the inability to make new highs, as well as the appearance of divergences on momentum indicators. By examining the weekly chart, it is clear that there is a Doji candlestick, while the daily chart shows a bearish...

Candlestick_OB

The weekly chart for XAUUSD has formed a bullish engulfing candlestick pattern, indicating that the overall trend for gold in the upcoming days, or at least for this week, is bullish. We can also see these signals on the daily chart. Thus, we have identified the general trend for gold. To determine and analyze its movement during this week, we move to lower time...

Candlestick_OB

After the US dollar index broke out of the descending channel as we previously mentioned, it is now testing the strong resistance level at 105.70. It is likely to bounce back to form the first shoulder of the head and shoulders pattern, possibly towards 103.850 or even 103.750 to retest the previous support level and the ascending annual trend line. This would...

Candlestick_OB

The EURUSD is currently moving within a local downtrend channel and has almost reached the lower edge of the channel and the support level of 1.05900. After a potential reversal price action, it is expected that the price will rise again to test the upper edge of the downtrend channel before continuing its downward...

Candlestick_OB

A simple way to trade EUR/USD is by taking advantage of its tendency to retest the 200-period moving average on the hourly chart. To do this, wait for the currency pair to move away significantly from the 200-period moving average and show signs of overbought or oversold conditions with two peaks or troughs, along with divergence. This presents an opportunity to...

Candlestick_OB Updated 

The Australian dollar is moving in a descending wedge pattern. Currently, the price is heading towards a corrective phase to test the upper edge of the wedge, which is also a convergence of an ascending annual trendline and a 100-period moving average on the 4-hour timeframe, at a level of 0.69400. I anticipate a price reversal from this level to continue its...

Candlestick_OB Updated 

The bullish trend line for AUDNZD appears to be nearing its end, as upward momentum appears to be losing steam. This is evident in the fact that higher highs are becoming increasingly closer and new highs are being printed less frequently, as well as a divergence on the MACD indicator. Additionally, the monthly resistance at 1.10500 and the 200-day moving average...

Candlestick_OB

Gold is currently in a corrective movement towards the 1850 level, which is a previous support level that has turned into resistance. Additionally, the upper trendline of the descending channel, the local trendline (in yellow), the 23.6% Fibonacci level, and the 50-period moving average on the 4-hour timeframe all converge in this area. It is possible to see a...

Candlestick_OB Updated 

After reaching resistance at 134.50, USDJPY appears to be forming a double top pattern with a divergence. If the closing price of a 2-hour candle falls below 133.774, this could indicate a sell signal, with a target to retest 132.800. ------------------------------------------------------------------------- Let me know your thoughts in the comments, and show your...

Candlestick_OB

As stated in my previous analysis of DXY, it has finally broken out of the channel, along with the 103.500 resistance and the 55-day moving average. It is now anticipated to move towards 105.700. ------------------------------------------------------------------------- Let me know your thoughts in the comments, and show your support by liking the idea. Please...

Candlestick_OB

After reaching the support level of 1830 and being rejected, GOLD formed a price channel. It appears that gold is poised to climb up and retest the resistance level of 1861.10, which happens to be the top line of the channel, a supply zone, and the location of the 50 4-hour moving average. Based on this, I anticipate that gold could move towards the targets of...

Candlestick_OB

In line with my previous analysis, GBPUSD has moved precisely as anticipated. Following a retest of the prior local resistance, the price broke the trend line with an engulfing 7-day candle. The next target for the price is the 1.18550 support level, after which there may be a small bounce before it aims for...