NZDCAD has been in an uptrend since the first week of November.
In the past few days, the price attempted several times to break the Ichimoku cloud, but we always had a very good reaction by buyers, pushing the price back towards new highs.
This time, action by sellers seems to be very strong and there are also all the conditions with the Ichimoku trading...
EURUSD has been in this ascending channel for more than one month and, at the moment, we seem to have strong action by sellers, attempting to break the lower part of the channel.
Standard trade, with stop loss above a short-term congestion phase, take profit at the same level of the swing low that started this...
NZDCHF is currently in a good short-term uptrend, with the price that is just breaking another area of resistance, setting a new 12-day high.
If we have a closer look at the price action, we can see that the setup of the moving averages is slowly turning bullish and the price is also breaking last moving average, the long...
EURGBP has been in a range between 0.9020 and 0.9150 for the past 4 weeks.
After a short-term congestion phase, buyers seem to take control of the market, rejecting the area of support at 0.9020, pushing the price higher.
With easy to set stop loss and take profit, we can have a standard trade with a risk to reward ratio of 1:2.
CADJPY recently broke an uptrend line that was representative of the minor trend since the end of last month.
After the breakout, we had a small re-test of the same area and then a bearish engulfing pattern that may indicate that sellers are again in control of the market.
With a risk to reward ratio of 1:3, definitely...
The strong movement we had on Friday formed a very rare candlestick on GBPUSD hourly chart.
It is a candlestick that we have studied in the course on Udemy and we have seen that it can serve as a continuation pattern but also as a reversal in some market scenarios.
Do you know the name of it? :)
CADCHF is currently having a very strong acceleration that threatens the level of resistance at 0.6950.
We can comfortably place our stop entry order at 0.6955, with a stop loss below the short term resistance and the take profit applying the measured move and still get a good risk to reward ratio of 1:2.
Definitely a trade to consider.
EURCHF has been in a range between 1.0730 and 1.0840 for the past 3 months.
Right now, it seems that sellers have good momentum and may attempt to break this range.
If we have a look at the recent action, we can understand that, for this kind of trade, it is very easy to place our entry and exit points, but we are at the...
We've been talking about EURGBP since last week, althought we only had stop orders that were never triggered because the price went in a different direction.
This time, it looks like buyers have enough strength to break the level we were monitoring:
There's only one other level to break: the resistance around 0.9158,...
EURGBP shows very interesting action in this period.
At the bottom, we have an uptrend line that recently proved to be quite reliable, rejecting the price at 0.9020.
Another level that supports buyers' positions can be found around 0.9070, where we have a short term support:
At the top, we have a very good downtrend line...
GBPUSD recently went through a positive short-term period, with the price taking nearly 300 pips from its low at 1.2675.
Despite that, the bigger picture shows a trend that is still down:
From a technical point of view, we have a sustained downtrend line that seems to hold the pressure of buyers. Last touch of that...
There is so much going on on CADJPY.
The main chart, showing the bigger picture, highlights a downtrend with the setup of the moving averages, but it is also clear that the price is going down recently.
If we have a closer look, we can appreciate more details of recent price action and how the trade is structured:
GBP/USD has been in a downtrend for a few weeks, but recently, it showed signs of strength, with a short term uptrend that was following the uptrend line in the chart.
We had a strong red candle breaking through the uptrend line, so I believe that there is a concrete chance to trade this market with a short position.
Setup of moving averages is a bit unclear, so I...
GBPCHF is in a clear short-term downtrend and, for now, sellers seem strong enough to continue to push the price down.
We already had a very important signal: a strong bearish movement breaking through an important level.
Setup of moving averages is turning bearish and we can also play this with a very favorable risk to...
AUDUSD has been in a long-term uptrend for the entire period "post-covid volatility", in March 2020.
Recently, we have had a good down-movement and many traders were wondering if this is just a retracement of the beginning of a new trend.
The setup of the moving average seems to be still slightly bullish, but the price just broke an important uptrend line, forming...
EURUSD is in a clear uptrend, with the pair that doesn't seem to show any sign of counter-trend or strong retracement.
Recent action shows a slight retracement, with buyers immediately reacting with a bullish engulfing pattern and a new higher high.
Stop loss below last important swing low and trying to have it also below...
GBPUSD has been bearish for a while but recent action shows a strong GBP.
In the main chart, we can see a first breakout of the Ichimoku Cloud, then a retracement and a re-test of the second line of the cloud with a very strong reaction by buyers.
If we zoom in, we can appreciate other details.
1. Price already broke last...
CADCHF is currently at the top of a sideways trend.
We already had a good reaction by sellers, with a big candlestick showing a strong upper shadow right on the level of resistance.
As usual, in ranging markets I prefer using oscillators instead of trending indicators. In this case, I use the MACD, that is a momentum indicator that here clearly shows how buyers...