WEEKLY: Price on downtrend making LH & LL since aug 2017
Nice price rejection at 0.76 with double doji
DAILY: Price broke the trendline with nice double top
Rejected off support & fib 61.8
CONCLUSION: I will be looking to short this pair if we can
manage to break through first support and the second one
Analysis for GBP/USD :
*-Downtrending with LH & LL,
*-Broke the 1.3 support zone,
*-Is going to retest the resistance at 1.3 which aligns perfectly with the trendline,
*-Daily & Weekly showing strong bearish momentum,
*-Moving averages downside crossed on daily & weekly,
*-I have put a sell limit order but you can wait for some candlestick...
This pair has formed such a fantastic structure, check the analysis:
*-Strong trendline break, that means more downside momentum to happen
*-Third rally to the new trendline accepted
*-Fibonacci golden ratio 61.8 respected perfectlly
*-1.84 resistance/psychologicall/institutionall zone broke and retest clearly
*-Spining top candle at...
TECHNICAL ANALYSIS :
*-SUPPORT ZONE BROKED
*-RETESTING THE NEW RESISTANCE ZONE
*-HEAD AND SHOULDER PATTERN FORMED ON 4H
*-STRONG DOWNTREND ON DAILY WITH FIB 61.8 BEING RESPECTED
*-MA & EMA CROSSED SHOWING POTENTIAL BEARISH MOMENTUM
*-HUGE DOJI CANDLESTICK ON WEEKLY TIMEFRAME
PLEASE LIKE & COMMENT THIS POST FOR MORE LIKELY ANALYSIS
EUR/CAD TECHNICAL ANALYSIS:
*-Price has broken the trendline & the support,
*-Nice head and shoulder reversal pattern formmed,
*-Retracement on daily reacted to fib retracement zones
*-Weekly and monthly looking extremely bearish with upside spikes indicating a slow down on pricemomentum
*-Waiting to retest the resistance zone to get the best entry,
*-Price broke through the trendline and possibly will retest it.
*-On lower timeframe we see price is making lower lows and lower highs.
*-The retest of the trendline fits perfectly with fibonacci retracements.
*-If this setup is executed I'm place my stop loss just above the resistance
zone in case I'm wrong on this.
*-My take profit will be...
*-Downtrend with lower lows and lower highs
*-Downtrend is over after price entered the range making double tops
*-Waiting to see any candlestick pattern(Doji, shooting star, engulfing etc.) if the retest happens
I'm not gonna jump on this trade until I see a retest of the 0.67750 level. Then I'm shorting this pair until 0.67200 level is met
EUR/USD technical overviews:
*-Strong resistance area at 1.3000
*-Nice shooting star candle signaling slow down in price momentum
*-This pair has a unclosed gap since 2017 at 1.0800
*- Nice downtrend with lower lows & lower highs on 4H & Daily timeframe
*-61.8 fib retracement fits almost perfectly with my resistence and trendline
*-Huge bearish engulfing candle
*-xxxJPY other pairs are also looking bearish
*-On the long run I am expecting this pair to meet 142.5 are
Have everyone a good week and #Tradesafe
ANALYSIS ON GBP/AUD PAIR:
*-Price broke through the consolidation zone between 1.845 & 1.875
*-Price broke the trendline & retested it
*-Full body closure below 1.845 which has played as a strong level
*-Moving averages almost crossed
*-On 4H timeframe we have a bearish spinning top
Next destination on this pair is the 1.795 support level.
This pair has been forming some nice LOWER HIGHS and LOWER LOWS signifying a downtrend. We are forming the third LOWER HIGH touching the trendline, 61.80% fibonacci level and with moving averages crossed
So, here we have Bitcoin vs U.S Dollar on a 4H chart. We clearly see a trendline break and the price is heading to the next support levels. I think this can not be a fake breakout because of the high pressure from the resistance zone, sellers are positing their traders now! Also moving averages are cleary showing the downside move!!