This could potentially be a very structural trade. After the massive uptrend, we're finally witnessing price exhaustion. 1. Price trades to 102.47 highs. 2. The strength to the upside dies down as price only hits 101. 3. This inside bar indicates that sellers still have dominant strength. I'm anticipating selling strength to pick up if price breaches below the...
The recent price action indicates that USDSEK is holding resisted above a key daily level at 10.07110. Price made this high on March 7th of this year. On May 12th, price tried to trade above this level. However, it did not hold. I'm currently eyeing the downside potential on this pair.
The US dollar index surged on the open as China announced a new wave of COVID-19 lockdowns along with cutting FX reserve requirements. On the other hand, US grapples with higher inflation. USDJPY certainly has benefited from the surge in the dollar index (DXY), but this seems to be levelling off. After price failed to trade to a new higher high, I'm currently...
This is a very structural play that may take a while to play out. However, this breakout does show a lot of potential to the upside. Here are the key price action points I'm watching. 1. Price started this massive downtrend since February 22nd. 2. On April 5th, price bottoms out. This was indicated by the failure for price to trade to new lower lows. 3. After...
Here's a concise rundown of the price action I've been watching: 1. Price touched resistance at 0.9372. This resistance level formed at the end of March and has held up since. 2. Now that price has breached this latest neckline, downside momentum is to be expected. As long as price holds below this level, I'm expecting further downside. If price trades back...
USDCAD attempted to trade above previous highs. Now that it has failed to break and hold above the 1.259~ level, my directional bias is now back on the downside.
Been watching this price action for a while. Here are the key price action indicators that I've been watching. 1. Price retests the previous high at 0.69895. I do not see a breach above. 2.Price makes another test and fails to close above this high. 3. Price establishes a support or relative low at 0.68880. Right now, we're seeing price breach through this...
After a very strong rally that originated in early-March, price is beginning to stall. However, price attempted to trade to previous highs on March 29th. This failed and price traded at a lower high on April 1st. As of now, price is breaching below a key 134.6~ level, which is signalling further downside ahead.
After a pretty massive hourly run-up, price barely broke above previous highs. After hitting 1.11375, price quickly exhausted and traded lower. Price tried to trade a tad higher up to 1.11185, but it was lower than the previous high. Now I'm eyeing this break to the downside, which should persist throughout the Asian session.
There's a massive daily and 4-hour confluence on this pair if price holds the 0.68 level throughout the night. Over on this chart, we see a reversal underway since the price rally has exhausted. This is also observable on the daily timeframe as a key level has been breached as well.
Despite the current geopolitical tensions right now, AUDCHF is one of the few pairs where a directional trend is identifiable. I've been watch the price breach above the 0.66610 daily level. Shortly after the breach, price attempted to trade back below it. Based on the current price action, the pullback move is being exhausted so I do expect further upside.
Three major price action points to take notes of: 1. Buying strength pushes price above the 1.7285 upper boundary of this range. At this point, I'm watching to see if price can sustain. If it holds, we can expect further upside. 2. This is the first indication of exhaustion as price forms a pinbar when it fails to break above the previous high. 3. Directional...
Been monitoring this for a while and there's currently a downside breakout. What makes this signal so strong is the confluence with the daily timeframe. The 1.7033 level is also a daily support (give or take). Since price is also breaching this level on the daily level, this signal is stronger than ever in my opinion. I am...
Despite this pair being in a monster up trend, two points in the recent price action is giving us an early indication that further downside is to be expected. 1. Price touched the 2.0345 level and made a relatively weaker reaction off of it compared to previous touches. 2. The buying strength was quick to die down as price traded away from the level. I'm...
This pair is currently undergoing a reversal over on the daily time frame. Price failed to trade down to the previous zone at 127.39. After price traded down to 128.355, we established an upper boundary at 129.25. The bullish bar and break above this level indicates that we are expecting further upside. Of course, this is very dependent on price holding above...
This is a key pair that I'm watching for the week ahead. There are a few price action details that I've labelled accordingly. 1. Great reaction showing that price is unable to trade below 1.0366. 2. Price tested and experienced a weak selloff against the 1.03975 level. 3. Really strong bullish bar indicating that this selloff remains weak. 4. Price drift to...
There's one key annotation to review over on this timeframe. 1. Price finally stopped trading in this range. This area indicates that price failed to trade to a new lower low. The breakout to the upside has a probabilistically likely chance to continue. This is also viewed over on the daily time frame.
This is also a pre-emptive trade anticipating a breakout to the upside. 1. The resistance level is no longer being cleanly respected. 2. After price traded back below the resistance level, the selling strength exhausted rather quickly. It failed to push to a new lower low or even close the the previous lows.