The previous bearish breakout did not work The pullback went up much too high which invalidated it Theoretically, prices could now be in an uptrend In order to confirm it, a confirmation breakout is expected on the level of the last high after the bearish retracement currently in progress.
Prices are back in the bearish rebound zone of the current downtrend Even if prices remain in a sort of range for the moment, the underlying trend remains very bearish. It is therefore more likely that prices will start to fall again than the opposite. And precisely prices are in a price zone that could prove favorable to the resumption of the downward trend.
The underlying trend is bearish for the pair prices are moving down in steps They are back on the bearish trend line Theoretically this is a favorable price zone for a bearish bounce
The underlying trend remains bearish for the pair Previous attempt at a bearish rebound was unsuccessful Prices have retraced to bearish support They are now attempting a new bearish rebound As with the previous one, if this rebound works, prices could finally break through the bearish resistance.
Following the recent bullish breakout Prices are now in the first phase of their pullback In theory it could soon bounce back up to their previous high and then continue to new highs
Prices are moving along a downtrend line They are now in the bearish rebound zone In theory, the price could bounce back down to the previous bearish resistance.
Prices have broken out of a first descending triangle to form a second one. In the short term this figure shows that the trend remains bearish. In the shorter term, prices are currently retracing upwards but could soon resume the downward path The next target for eurusd is to break the last bearish resistance and then continue its decline further down.
The bullish breakout is confirmed Theoretically since prices have broken through the bullish resistance The scenario of continuation of the uptrend remains valid
The rebound did not hold prices went back over the top forming an ascending triangle in the process Breakout + pullback validated Prices should be able to reach the next resistance
My conclusions for the pair CADJPY : Basic trend: Range Chart analysis: Bullish resistance + bearish rebound below last bullish support Interpretation: Sellers are the strongest, prices could go back down.
Basic trend: Bullish Chart analysis: Ascending triangle in the process of forming Interpretation: Bullish continuation possible
My conclusions for the pair: Basic trend : Bearish Chart analysis : Descending triangle + Breakout Interpretation: Bearish continuation possible
Underlying trend: Medium term bearish - short term bullish Chart analysis: Symmetrical triangle + Breakout from below Interpretation: The market has finished hesitating Hypothesis: Bearish continuation to consider
The market reversal seems to be confirmed After having retraced upwards, prices are back on their lows Now the pair is in a bearish channel Prices could continue to fall.
Prices are attempting a new bearish rebound to break out of their range and resume their downtrend. This allows for a new bearish channel to be drawn If the rebound works, prices could break through the bearish resistance that they have been stuck on for several days.
The uptrend remains in place so far But the slope of the rise has changed It seems to be faster Prices could rely on two trend lines to continue their upward progression. If this were to be confirmed, the trend could be headed for new highs.
Prices are in a bullish channel so in theory the pair is going up. And indeed, after a bearish retracement, prices now seem to be rebounding upwards. The rebound will be validated if prices manage to get back above their previous high
Prices are back below the downtrend line This cancels out what, with the pullback, looks like a false bullish breakout and restarts the downside scenario. In theory, prices could now be heading for a new low.