There is a possible long trade set-up on GBPNZD which could present in the coming days,
Price is currently above the key level of 1.7500 which was previously a barrier of resistance for the pair and now appears to be showing characteristics of support.
If bullish price action is to present then there is the potential for price to reach previous resistance of...
EURUSD long set up
After being bearish on this pair in the early part of the week we are now seeing a daily reversal of PA
A daily bounce from support at 1.0500 rallied the bulls and broke the descending CTL to the upside
This bounce from support was also confluent with the 61% Fibonacci level
Expecting the pair to push higher over the coming trading days and...
A possible short set-up on EURGBP.
0.9050 is a significant ceiling of resistance for the pair and the November 2016 monthly candle close gave an indication of this.
Price has since floated between 0.87 and 0.84 with indecisive monthly closes but the latest close in January shows a significant upper wick rejection of resistance at 0.87 suggesting that the bears...
Possible long sent up on GBPJPY following the Wednesday candle closes
January closed with a strong wick bounce from support at 137.00
And price over the past week has shown bullish intent
Break and retest of the descending TL on daily as well as a close above support at 141.50 which is a level confluent with a daily 38% fib support and todays daily candle shows...
Possible long set-up on GBPNZD.
Recent Daily double bottom at weekly support zone of 1.6850 - which is historical lows for price.
Daily break and retest of the zone with a hammer close on 31/01/2017 signalling bullish intent of price
Daily 61% fib retracement and support
The monthly close was also today and while bearish it shows a strong lower wick rejecting...
Earlier in the week I posted a possible long trade set-up for USDCAD. This trade never materialised and instead turned to the downside with a daily close below the ascending trend line. As such, I have amended my perspective to the downside and view further depreciation of price in the coming weeks.
Weekly Fibonacci with retracement to 50%
Weekly break of the...
Possible short trade on EURJPY for week commencing 15/01/2017.
A number of daily spikes and rejections of the monthly resistance at 124.00
Recent daily consolidation range of around 150 pips was broken to the downside last week which meant a breach of weekly support @ 122.00
Daily candles also now below the daily EMAs
Possible weekly Evening Star formation...
EURGBP is showing signs of a growing bearish sentiment over the coming weeks.
A pin bar has formed on 10/01/2016 which shows a bearish rejection of the 50% Fibonacci resistance along with a rejection of the descending CTL. This daily rejection is also a rejection of the level at 0.8670 which is a place where the pair has rejected before.
While the price is...
USDCAD Long opportunity has presented itself.
The pair is being contained within an ascending channel which commenced in May 2016 and has since made HH and HL formations within the channel resistance and support.
Price recently bounced from the support of the channel but then encountered resistance at 1.3570 which was the previous HH of the channel. Following...
Will be watching how AUDUSD will unfold as the week progresses to try and identify opportunities for a short trade.
Price remains below the dynamic resistance of the moving averages, along with a potential short-term Daily Fibonacci move. This has confluence with a retest of the break of the ascending CTL which provides further confirmation of a bearish...
There is a potential short trade to be offered by EURJPY.
Price is in an overall downtrend and in a weekly Fibonacci pattern. Having retraced to the 61% resistance price continually rejected resistance and failed to move above in a bullish manner. The pair is now close to completing the move at the 0% support of 126.30. Assuming price breaks below this level...
Potential sell set-up on NZD/USD.
Price has recently tested resistance of descending TL and has created a double top formation in doing so. Break of the neckline of this pattern could lead to significant decline of price towards 0.60 but this will take time to play out.
Price has also reacted to Fibonacci resistance levels suggesting forthcoming bearish...
Will be monitoring Price Action in the early part of the week for a potential Long trade
Weekly candle close was Bullish and has been for the previous few weeks
Weekly break of trend line as well as also breaking above a key level of resistance with a major bullish candle which could represent a long-term shift in price momentum
Daily chart shows a recent MA...
Monitoring Price Action for a potential Short trade on USD/CAD this week.
Price has been in a decline for consecutive weeks now which correlates with the depreciation of DXY over the previous weeks
The Daily chart shows an MA crossover to the downside adding further bearish bias confluence
Daily Fibonacci action also is seen with price retracing to the 50% key...
GBPUSD presents a possible long trade in the coming week
Weekly candle close is Bullish engulfing which suggests the long-term nature of price is long
Daily shows price in an uptrend with Fibonacci retracement to the 50% level with price respecting support at this key level
MA crossover to the upside is also impending on the Daily chart
4 Hour chart shows price...
USDCAD is a pair which I will be monitoring closely upon the opening of the market - watching for price action to confirm a sell opportunity.
Price is currently at 1.2307 after rejection of the key level resistance - Would anticipate the downward momentum will resume following this.
4 Hour Fibonacci movement can be seen with price retracing to the 38% level...
Strong indications of further downward movements on this pair in the upcoming week.
A break of the upward CTL will also be a break of the confluent area of Support and Resistance at 1.10.
If price is to break these levels then, anticipate a retest due to the previous action around the area. Respect of the retest could result in a continuation of the downward...
