Taking it back a few days, price broke the weekly resistance, 0.67693 on 13th Feb and came to retest this level this week. This move will form the basis of my bullish bias on NZDUSD for the upcoming week and possibly weeks to come. Long term targets will be 0.70000 but price will not just make a surge up. 0.68216 will serve as a solid area for buying opportunities...
I try as much as possible to keep away from any GBP pairs because of its currently manipulation and abrupt spikes to either the upside or the downside, courtesy of the Brexit politics ongoing. However, GBPAUD is moving smoothly along a descending trendline on the Hourly continuously respecting the trendline's linear resistance. This bearish movements is further...
Carefully on the lookout for short plays with the condition of 110.317 being broken and retested to serve as confirms for short positions. Preferable targets will be 109.719 and 108.681 in extension. Further updates will be made depending on how price moves. In addition, I will also be expecting institutions to make a liquidity grab at the beginning of the week if...
The only time this will be rendered invalid is if price closes back inside the consolidation zone. Price is currently making Higher Highs and any pullback/retracement will be met bu buying pressure. Targets remain the same as indicated on my last Gold article.
Following the much anticipated correction of the pair throughout last week as analyzed in my previous article, price is now back to a significant Daily support region of 1.13182 that has had a lot of buying sensitivity in the past. Judging from how price reacted to this level time and time again, i am expecting some sort of bullish pressure to come into the market...
USDJPY has found itself at an accumulation phase a few pips below the weekly resistance. This presents a very high probability setup owing to the price mechanism of what is currently happening here. For the upward breakout to be valid, price needs to successfully break 110.032. In the event 109.657 is broken and further tested then we can expect to see a sharp...
In order for bulls to take over the market, price needs to first surpass the 1315.18 level. We are currently forming a bullish leg and a slight retracement to 1311.11 is looking very likely. if price respects this level then long positions will be in order till 1323 and a further 1328 upon further bullish momentum. The conservative way would be to wait for the...
Apologies for being out of the scenes this past January. Going forward in the coming months more technical articles will be written according to my perspective of what i see happening in the markets. It is therefore important to supplement my analysis with your own sentiments where necessary. Moving on, here we have EURUSD capped be a declining trendline on the...
Markets ushered in the new year with a flash crash of over 400 pips giving the JPY a surge of strength during the Asian session. Irrespective of such a decline in prices, price managed to close above the monthly support, 106.970 and is currently consolidating in the form of a rising channel. Buyers and sellers are battling it out to decide where next to take the...
So many possibilities being hinted with this pair and it is therefore possible to keep an open mind on this one and let price action dictate you positions 1. A lot of sellers exhaustion is evident as shown by the wicking of candlesticks and failure of price to break 1.14046 this lines up with the 50% Fib retracement level which isn't a strong reversal zone but...
Friday's 4Hourly closed as a classic fakeout signifying that the bulls were not ready to give up just yet. Overall bias remains very bearish for the pair and now the most ideal thing to do would be hunt for valid sell setups upon the pullbacks. Unless something goes entirely wrong, I don't think we could have a deep pullback to the top of the range(this is the...
113.121 level served as a critical SZ in the past to open the gates for bulls to take the price further higher as we come to the close of 2018. After price wicked 113.121 my bias remains strongly bullish as long as we maintain above 113.029 level. However, do not be oblivious of the fact that price is moving in an upward rising channel which highlights the...
After a break of the extended falling trendline, AUDUSD proceeded to rally up about 140 pips where 0.73497 resistance limited any further upside. Breakout buyers failed to notice the Double Top formed on H4 validating the resistance zone and preparing for another rally to the downside. The bears might experience some bullish pressure at 0.71670 in the coming...
In a perfect world, USDJPY would go up to 113.195(serving as our potential neckline), reject this price level and make a 61.8 retracement to form a Right Shoulder and rally for over 135pips(Christmas comes early!!) However, such a world is non existential. Looking closely at price action, NFP results came in worse than expected and price wicked, failing to make a...
We had what seemed to be a break of 1.14164 after long periods of rejection. What happened next? Price closed back in the range, immediately taking out long traders who had their stops below 1.14164. In as much as we are in no mans land, with the bulls and bears fighting it out for supremacy, numerous trading opportunities await. The eclipsed region highlights...
USDCAD is moving smoothly within a descending channel actively making LHs and LLs signifying that CAD bulls are in control of the market. The latest printed Lower High coincides with 1.31400 which served as a strong turning point and Resistance zone in the past. We see price sensitivity upon a third touch of the channels linear resistance zone. Possibilities: 1....
As long as 132.533 holds, bearish momentum will take precedence up until the desired TP which is 130.887. a break and close above 132.731 will invalidate my bearish bias
Price heading back to 1.15303 which served as a huge Demand zone for the pair in the past. How price behaves around this level will determine the next move for the pair. A break will send price falling approximately 100pips while a bounce will send price rising approximately 169pips. Lets see how price action will unfold in the coming trading days