FinancialGamblR

FinancialGamblR

Gold broke above a critical level. The 1,739.90 was a level where price was held resisted. Now that price breached this level, there's a strong chance that we'll be seeing further upside. However, I am watching gold closely as it will likely make a slight retrace. The key to look for is whether or not price is able to retrace and hold above the 1,739.90 level.

FinancialGamblR

More specifically, NZDCAD is currently in the process of breaking above the 0.80575 key daily level. The odds of returning back into a range are low. After making a higher low on July 27th, traders don't appear to be very indecisive right now. I'm expecting strong further upside if this pair successfully makes a breach above this level and holds.

FinancialGamblR Updated 

While I normally try to capitalize on breakouts, I'm actually anticipating this one to fail. Price breached above the 0.6675 level and failed to accelerate higher. Furthermore, I don't consider this a strong breakout as price stalled by the painting of overlapping bars. On a final note, the daily timeframe does not show any indication of a structural move. While...

FinancialGamblR

In a sudden reversal, the Japanese yen is strengthening against all major currency pairs. While I've noticed a breakout structure on several pairs, the CHFJPY breakout appears to be the strongest. This is due to a couple of reasons. 1. CHFJPY has been in a strong rally since May of 2022. There's no such thing as a sustainable, exponential rally like this. As a...

FinancialGamblR Updated 

Really liking the upside potential here. EURAUD breaks above the 1.52 daily level and is holding above it. Since the candle made a clean close above it, I am anticipating further upside ahead. See my updates for the minor levels I'm watching.

FinancialGamblR Updated 

We have two key price action markers on the daily timeframe. 1. Price makes an attempt to trade above previous highs and it does. However, price failed to hold above and close. 2. The subsequent candle is an indication that momentum to the downside is accelerating. With the DXY looking bearish, this is a good sign that we can expect further downside.

FinancialGamblR

Recently saw a breakout lower on the daily timeframe. AUDCAD breached a very critical daily support, which signals that further downside momentum is likely. The best part about this daily setup is that there's confluence with the hourly timeframe move as well. Here's the daily timeframe showing how price is holding lower:

FinancialGamblR Updated 

Two key points on the daily chart: 1. Price made a relative high of 115.20 on March 23rd. Price haven't traded up to that level since. 2. In the recent days, price breached above the 115.20 level but quickly reverted. Since price failed to sustain above this level, I am anticipating a little bit of downside in the short run.

FinancialGamblR

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...

FinancialGamblR

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.

FinancialGamblR

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...

FinancialGamblR

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...

FinancialGamblR

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...

FinancialGamblR

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.

FinancialGamblR Updated 

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...

FinancialGamblR Updated 

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.

FinancialGamblR

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.

FinancialGamblR Updated 

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.