As it can be clearly inferred from the graphical illustration, a nice ascending trendline has been formed and the price has been respecting it and bouncing off it. From the looks of it, the price is attempting to form an inverted Head& Shoulders pattern. We will patiently wait for the price to visit the neckline of the formed pattern and complete the formation of...
As it can be inferred from the chart, a nice descending channel has been formed and the price is currently building up a bottom on the lower boundary of the channel. From the higher timeframes, it can be observed that the sentiment of the market is bullish. We are expecting for the price to keep rising and reach the area of resistance identified on the graph.
The price has been heavily rejecting the crucial $40k area of support. As it can be inferred from the graphical illustration, the price has formed a nice double bottom on the same zone of support, and the recent bullish candles area pretty powerful, indicating buyers' dominance. If we draw a long descending trendline form the ATH, we can observe that the price has...
As it can be noticed from the graph, the price is currently consolidating around the area of 0.918 previous support now turned resistance which perfectly lines up with 50% Fibonacci retracement level. We are expecting for the price to visit the same area of resistance and form a nice double top, before it can drop all the way down till the area of support...
As it can be inferred form the chart, the price is currently sitting on an important level of support and has even formed a mini bottom. We are expecting for the price to keep rising and reach the area of resistance indicated on the graph
In the previous analysis for GOLD, we had mentioned that the price is most likely to visit the area of the ascending trendline that aligns with 50% Fibonacci level once again, before continuing its moves to the upside. As it can be seen from the graphical illustration, a nice bullish hammer candlestick pattern was formed earlier, as the price nicely rejected the...
As it can be clearly noticed from the graph, a nice uprising channel has been formed and the price is currently sitting at the area of the lower boundary of it. We are expecting for the price to keep rising and reach the area of the previous HIGHER HIGH.
As it can be inferred from the chart, the price has formed a nice bullish flag pattern, and the price is currently sitting on a major zone of previous resistance now turned support. We are expecting for the price to keep rising all the way till the zone of resistance indicated on the graph.
Hey, traders! In this series, we’re going to cover some common chart indicators available for general market. To keep it simple and easy to read, there will be several parts to this educational post. We’re really hope you enjoy it, so let’s get started! Bollinger Bands are a technical indicator created by John Bollinger that is used to determine market volatility...
After weeks of consolidating within the borders of the formed ascending triangle, the price has finally broken out of the structure. As it can be inferred from the illustration, the price is currently completing the retest of the broken zone of resistance that aligns with 50% Fibonacci retracement level. We are expecting for the price to form a nice bottom and...
As it can be clearly inferred from the chart, a nice Inverse Head&Shoulders pattern has been formed on the area of 50% Fibonacci retracement level. We are expecting for the price to keep growing and reach the area of resistance indicated on the graph. Have a great trade, everyone!
As it can be inferred from the graphical illustration, the price is currently located at the area of a crucial level of resistance. We are expecting for the price to form a decent top before possibly dropping all the way till the area of support shown on the chart.
One of the biggest things you should understand as a trader is prices don’t just go up and down (well, maybe on a really small timeframe they’re more chaotic). They’re usually backed by some actions, data and things happening in other markets. This all creates general economic tendencies. But how do we know what affects dollar/currency pair and how? Well, here is...
The price is currently sitting at an important level of resistance. The last few DAILY timeframe candlesticks are indicating a massive bullish pressure. As or right now, it is a bit difficult to predict whether there is a possibility for the price to drop till the 50% Fibonacci level before continuing its powerful bullish movements. However, we will keep...
To begin with, the sentiment of the market is bearish. Massive bearish candles have been printed and the price has been dropping dramatically. As a rule of thumb, after an impulsive move, a correctional move should take place. The price is currently sitting on a major level of support and we can see some signs of a short-term bullish reversal. We are expecting for...
As it can be inferred from the chart, a nice channel has been created and the price is currently consolidating at the upper boundary of it. We are expecting for the price to reject the local zone and drop all the way till the lower boundary of the channel. While our general bias remains bullish for this pair, a short-term correctional move is needed before bullish...
The price of EURUSD has been ranging within the borders of a formed ascending triangle for the past few consecutive weeks. It can be observed that bullish pressure has stepped into the market and is trying to drive the price higher to the upside. Only if the price manages to break the crucial zone of resistance and re-test it, we are gonna be aiming towards...
The price of EG has been ranging within the borders of a downtrending channel for the past few consecutive months. As it can be inferred from the current situation, the price is rejecting the lower boundary of the formed channel and forming a nice bottom. After enough confirmations have been provided, we will look forward to opening LONG positions and aiming for...