Bullish Indicators: 1) HH HL 2) Support zone 156.078 3) Upward trend Bearish Indicators: 1) Resistance zone at 158.213 2) Evening star on 4H 3) Bearish divergence on RSI Plan A: After forming evening star on 4H and the bearish divergence on RSI the pair looks like will move further downward towards 156.078 and then towards 154.800. Plan B: On contrary a bounce...
Bullish Indicators: 1) Support zone 1.06807 2) Hammer candlestick on daily Bearish Indicators: 1) Resistance zone 1.08602 Fib level 38.20% 2) Upward descending trendline 3) Downward trend Plan A: After forming hammer on daily its looks like the pair will move upward from here and can test the upward trendline and the resistance zone of 1.08602. Plan B: On the...
Establishing a bull flag formation. Its likely to retrace towards 11.70-11.30 before continuation of trend. Once Price breaks and sustains above 13 once more will trigger a move towards 14.90 followed by 17.50. However any closing below 11.30 would open 10.40 as next major support.
The AUDJPY touches 85.80, which is the highest level since May 2021. This level has attracted some sellers and the price is currently trading below this old high. If it stays below then it may drop to 84.40 support. A short position can initiate followed by 86.100 Stoploss.
The EURUSD trended higher from last week 1.16238. However, the pair stalled at 1.16687 at the 38.2% retracement level. The inability to break above keeps the sellers in control. Staying below the 1.1640 level would give the sellers even more confidence. If the price can get and stay above the 1.1640 level, the 38.2% retracement target still remains intact.
Potential Inverse H&S formation appearing over 12-H Time-Frame, signaling a change of trend soon for the coin. Price needs to break above the falling resistance in order to establish targets towards 1.15 followed by 1.25. However another rejection of the zone 0.87 would once again open a re-test of channel support around 0.70.
GBPUSD is largely capitalising on the dollar's recent weakness as it extends gains again after a breather yesterday. Buyers are keeping near-term control and eyeing the 1.3806 as the next key target currently where the confluence of a trendline and a major resistance lies. That will be a key test for the buyers' resolve in trying to gather more upside momentum and beyond.
Bullish Indicators: 1) Support zone at 1.84164 Bearish Indicators: 1) LH LL 2) Resistance zone at 1.85595 3) Downward trend Plan A: One can take ling position on the bounce from the support zone at 1.84164. Plan B: One can take short position if pair fail to break the resistance zone or upward descending trendline.
HTF analysis shows a very nice inverse head and shoulders pattern with the neckline recently broken. A huge upside potential is possible and this seems to be the perfect trade for swing traders and position traders alike. Good Luck!
Bullish Indicators: Support zone at 0.90940 Bearish Indicators: Resistance zone at 0.92023 Fib level 38.20% Plan A: One can take long position on the breaking of resistance zone at 0.92023 for the target of 0.92689 and 0.93163. Plan B: On the breaking of support zone at 0.90940 one can take short position for the target of 0.90658.
Likely to complete its retracement between 18-16 region. This is where healthy demand is likely to step in and establish targets towards 26-28 initially followed by 30-32. However if DYDX manages to break below 16 then we are likely to see 14 followed by 13 as next major supports.
EURAUD - Good trade in the making if you're looking for some quick pips. Descending Trendline has been broken and EURAUD is now trading above an important support (1.56450)
USDCAD is moving in a descending parallel channel, now testing a fib level support area around 1.23700. A possible upside movement can be seen towards 1.24800.
Short on a break below 0.182 with the stops at 0.187 for the targets of 0.177 and 0.172.
Buyers are in control above an ascending trend line support at 0.10. Expect bullish momentum to continue with the target of 0.156.
The price tested trend line support at 23.70 and bounced. To keep the bullish momentum continue buyers need to crack and move above 28.30 for the targets of 32.25 and 36.25.
Bullish Indicators: 1) Double bottom 2) Support at 1.43192 Bearish Indicators: 1) LH LL 2) Downward Trend 3) Resistance zone at 1.44406 and the upward trendline. Plan A: After making double bottom one can take a long position from here or on the breaking of upward trendline for the target of 1.46223 Plan B: On the failure of breaking of upward trendline and...
Bullish Indicators: 1) HH HL 2) Upward trend 3) Support at 84.074 Bearish Indicators: 1) Evening star 2) Resistance zone at 84.719 Plan: After making evening star on 4H one can take a short position from here for the target of 82.768.