NZDCAD created a bearish bat pattern and is now trading a little bit above 0.886% retracement of the XA leg. If you look at the volumes you can clearly notice that the pressure is shrinking and now there are high probabilities of a retracement towards the Point of Control in H4 chart (which also corresponds at 0.618% of Fibo retracement of AD leg). Enjoy your trading!!
EURGBP quick forecast! bearish trend and 200 ma to cap the price
Cadchf idea! Wait for confirmation before an entry ! Drago Investments
GBPUSD 17/08/2022 PRICE ACTION AND LIQUIDITY ANALISYS: Gbpusd is trading in a range market in h1 chart, in the broader picture price may have bottomed in July because in weekly chart we notice that the price is in a really strong demand area. In h1 there is an imbalance that has not been filled yet, now the price is trading above a small support (useful for...
Gbpcad is developing a range market, we need to wait if it is n accumulation phase or just a redistribution. We will follow the price action, if a spring should be developed we might consider to buy until the fullfilment of the imbalance.
GBPUSD has created a bullish bat pattern but price has not reacted well at D point, we can notice the level of sell side liquidity; price has broken it in order to make a stop running and now the price will have to fill the imbalance created this morning in a strong h1 bearish candle, as soon as the imbalance will be filled price might retrace a little bit and...
AUDJPY - WYCKOFF analisys price is in a range market and has had a mSOW (minor sign of weakness) in which there was a liquidity grab, now the price will probably form the UTAD (Upthrust after distribution) and if that new high will be formed we will just have to wait for a reversal sign (such as shooting star or bearish engulfing) in order to open a sell...
AUDNZD has formed a bullish bat pattern in h1 chart, the price is on the lower band of Bollinger and will probably rise up towards the B point of the harmonic pattern (which is near to 61.8% of Fibonacci retracement of CD leg). I will open a buy trade with take profit and stop loss highlighted in the chart above. Risk no more than 1% of your trading capital! Buy...
The cable is in a bearish trend and we can clearly notice the 5 impulsive waves, now the price is correcting and we expect the C corrective wave to be formed in these days. The elliot theory combines perfectly with a very strong MACD divergence. Pay attention at the news affecting the pound and the dollar this week.
The fiber has created a bearish cypher in h1 chart and now it is going to have a pullback towards the 200-hour simple moving average. Then in the larger picture we can notice a ranging trading where the price has created two false breakouts below the support line, as soon as the price reaches the 200-hour sma we should consider a possible rebound because the...
The cable has had a strong recovery in last trading days and has broken a small falling wedge, now the price is on the 50 day simple moving average, we should see by this evening if the close will be above or below that MA. In case the price closes above the MA we might consider to buy gbpusd because in the bigger picture (weekly chart) we can notice that price...
GBPCAD has formed a bullish shark pattern and price is approaching the lower band of a solid range in daily timeframe, we can in addition see a strong RSI DIVERGENCE in h4 chart, this situation is really common where there is a bottom in a market structure, the accumulation structure is clearly working and the pair will push towards the 0.50% retracemtn in next...
EURGBP dropped last week and went below the six-year old support level (valid since July of 2016), that happend because of the war between Russia and Ukraine, that situaiton weighed on the Euro. Now we can see the price in a sort of falling wedge and we must notice that the break of the lows of last week is not confirmed yet as a breakout because we can see a...
Usdjpy technical analysis: h1 chart: price is above 200 hour sma and has tested a support zone (highlighted in orange) that corresponds at 0.382 fibonacci retracement from the last impulse. The pair is in a general uptrend in bigger timeframes as h4 and daily. There are good chances that usdjpy can push higher towards the main resistance, already tested two...
The pair is trading in a bearish channel, price is touching the resistance trendline for the third time, a smaller trendline (in green) has been broken last week and this is a classic sell scenario, we have two important support zones as highlithed in the chart above, the first one is also a confluence with the 38.2% retracement of Fibonacci, and the second one...
EURJPY TECHNICAL ANALYSIS: Price action: eurjpy failed to make a new high in h4 chart and is currently trading above the 400 hour simple moving average, if price broke it and closed with at least 3 h4 candles below the moving average you can open a short trade until the support as highlighted in the chart, use a small stop loss. It can occur tomorrow or monday,...
Fiber has hit a sort of stop hunting recently and is now trading above the 200 hour sma, there is a sort of megaphone which is developing, we can open a small trade now with sl and tp as highlited in the chart.
The par is trading in a descending triangle and the 50-day moving average is capping the buyers, it is important to notice that 50 day ma creates a confluence with a descending trendline, gbpjpy is having a cyclic trend, the bottom should come around 17th of september and I think that price could reach the red support line, stochastic gives us anothere bearish...