Most of us either are scalpers & day traders. A very few categories of traders perform swing and position trades, as it involves higher timeframe analysis possibly from 4H & above up until monthly candles. Here we analyze the EURUSD M charts and try to observe what the market is telling us on a larger scale! Currently the price of the EURUSD is approaching a long...
Since MAY 2021, the greenback has been appreciating against the CAD and various other currencies! The FED signaling BOND tapering at a faster rate and 2-3 hikes already priced in for 2022, the USD is resilient as for now. With the price of USDCAD approaching 1.3000 resistance barrier, the RSI has been generating a loose in price momentum evident by the bearish...
A very interesting pair to trade during this ongoing pandemic, certainly USDJPY has caught the eye of many traders as both currencies acting as SAFEHAVEN. However in RISKOFF mood, the advantage certainly lies with the JPY, as the SAFEHAVEN status makes it appreciate against various counterparts such as the AUD, NZD, CAD, EURO, GBP. In the case of USD and CHF, the...
Pattern has been completed. Price is highly likely to target 0.83800 area. This analysis is not meant to be a trading signal nor financial advice! Its highly advisable to perform your own analysis and trade markets at your own risk. Please LIKE & FOLLOW if you found this analysis helpful in assisting with your own personal analysis. Cheers
AUDUSD is has completed an inverse head and shoulder pattern on 4H TF. Now it has set firm sight on the next high at 0.73400 which also happens to be an upper end of a descending parallel channel on daily TF. Strong concrete support lies at 0.7000 monthly support. This analysis is not meant to be a trading signal nor financial advice! Its highly advisable to...
For 2022, many financial banks are predicting the USDJPY to HIT 118.00 level. Tonight the FED guidance path for next year could likely clear the path for USDJPY to move higher next year. Tight tapering and 2 interest rates hikes have already been priced in by the markets in 2022, should the economic data be strong as expected next year on month to month basis, we...
Currently USDJPY is on a BUY, with the short uptrend expected to meet key monthly resistance at 115.000. After that we might probably see the YEN appreciate VS the Greenback. USDJPY is being supported beneath by a rising key strong trendline, which would likely be tested if the rejection occurs at 115.000 again. There is no doubt that this pair is expected to...
Could this week be the week where we see the EURO push higher against the greenback? Its quite visible that the EURO is oversold and is resilient in dropping further. Therefore, a correction has long been on the cards, however looking at the bigger picture, this pair is still in a FALL. The descending daily trendline is quite clearly capping any further gains in...
EURGBP as seen has likely rejected the long term descending daily trendline and now has eyes to move lower. To confirm this move, the daily candle needs to close below 0.84900 support which would open the door to further drop towards the next support located at 0.83800. The stop loss can ideally be placed above the long term daily descending trendline to achieve...
Currently EURUSD is likely to form and complete the inverse head and shoulders pattern. shall the pattern complete and the neckline break, we can expect the price to rise towards the next resistance. However the rally should be short lived, as the acceleration towards the 1.11700 should resume. The current probable inverse head and shoulders is likely just a...
AUDJPY could target the next high at 89.00 as the path remains clear with least obstacles. TECHNICAL ANALYSIS On the MONTHLY TF the monthly candle closed ideally above 85.000 crucial psychological resistance, indicating that the price is ready to head higher. On the main weekly chart we can see the price failed to break the higher high at 86.00, which is...
Last week's push in the USD strength led the EURUSD to breach 1.15000 crucial monthly support. As things stand, its not looking good for EUR on both technical and fundamental point of view. TECHNICAL ANALYSIS After the weekly candle closed convincingly below 1.15000 crucial monthly support, the path to the next low at 1.11700 remains clear and with near zero...
Last week was vital and perhaps the most important week for the DXY this year, as it has likely broken a crucial resistance. As seen from the main chart, the weekly candle needed a convincing close above 94.60 which confirms the previous high break. Now it is highly likely in the coming weeks we could see the price targeting the next high at 97.60. Prices would...
NZDUSD has already broken out fairly well out of its descending trendline and currently due to USD strength, it has fallen this week to around 70 cents. This fall offers a great opportunity to trade this pair LONG as the RISK TO REWARD RATIO is highly feasible TECHNICAL ANALYSIS 1. PRICE BROKE OUT OF A STRONG RELIABLE DESCENDING TRENDLINE ON BOTH DAILY AND...
TRADE TYPE: SELL LIMIT ORDER TRADE DIRECTION: SHORT TIMEFRAME: 4H ENTRY PRICE: 0.70650 STOP LOSS: 0.71250 TAKE PROFIT: 0.70050 RISK TO REWARD: 1:1 Follow this thread for any future updates regarding this specific trade
TRADE TYPE: SELL LIMIT TRADE DIRECTION: SHORT TIMEFRAME: 4H ENTRY PRICE: 152.930 STOP LOSS: 154.150 TAKE PROFIT: 151.720 RISK TO REWARD: 1:1 Follow this thread for any future updates regarding this specific trade
TRADE TYPE: SELL LIMIT ORDER TRADE DIRECTION: SHORT TIMEFRAME: 4H ENTRY PRICE: 1.24360 STOP LOSS: 1.24940 TAKE PROFIT: 1.23790 RISK TO REWARD: 1:1 Follow this thread for any future updates regarding this specific trade
TRADE TYPE: SELL LIMIT ORDER TRADE DIRECTION: SHORT TIMEFRAME: 4H ENTRY PRICE: 113.170 STOP LOSS: 113.770 TAKE PROFIT: 112.570 RISK TO REWARD: 1:1 Follow this thread for any future updates regarding this specific trade