Lorenzo_Esco_Al_Bar

Lorenzo_Esco_Al_Bar

The chart speaks for itself. If you're looking for a buying opportunity, well, this is not. Expect big movements today since Mr. Draghi is up to tell us ECB interest rates decision, but he can't really do s**t to rebounce EUR, apart from selling it himself.

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€

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$

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The mother of all currency pairs just met its most important support since January 2018. We can clearly see long lower shadows on the 4 hourly chart candlesticks, which means that yes indeed there is something strong holding the price there. The most used oscillators also (RSI and Stochastic) tell us that we are in the oversold area, from which the price is trying...

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A possible head and shoulders pattern is taking plance on the 4 hourly and daily chart. The 1.4000 area is crucial for the formation of the pattern, so keep your eye on the next condlesticks. Have a good trading!

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Gold price is testing again the 1350 resistance level. Too weak to break it at the moment despite the tensions between Nato and Russia. On the weekly chart we can see that the price tried several times to break that level, but unsuccesfully. Hence the price in my opinion be ranging again between 1300 and 1350. Have a good trading!

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Yesterday's NFP suggested that 1.2220 is still a powerful support, so the price will apparently keep ranging. Candlesticks give us a confirmation of that: the 3 day's ago hammer, and more of that yesterday's candle that fully recovered the previous day losses. The first resistance that we are now more likely to encounter is the 1.2400. Have a good trading, good luck!

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On the weekly outlook USD/PLN downtred met a strong support around the 3.4900 area. The bears are showing weakness as we can see from a 7 week's higher lows. Perhaps the time of bulls has come. If the price continues starts a bullish trend the first resistance will be at 3.5000, then if it breaks at 3.7000.

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Fibonacci extension shows the key levels in which the price reacted. Now we are going near the important 7000 support. Will it be the level where bulls are waiting?

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Take a look at the US500, a pretty triangle pattern. Bulls ready for a comeback?

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Yesterday AUD/USD reacted well on two important resistance: the down-line of the perpendicular channel and the horizontal line around 0.76400 area. Also in the most recent days' candlestick we can letteraly see the war between bulls and bears, showing that there's somthing strong supporting the price in that area. Fibonacci extension suggest where the price is...

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Take a look at DAX weekly chart. 11900 is a very strong support, on which the price bounced back multiple times. Are we going to see an head and shoulders pattern? We alredy have the first two elements. Now we need the right shoulder.

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We have a left shoulder, we have a head... Are we going to have a right shoulder?

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Bullish set-up on GBP/USD. Fibonacci channel suggests supports to join the trend.

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USD/RUB triangle pattern complete. Strong resistance in the 56.80 area, consider a long entry until the 57.78 level.

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Bullish flag on Gold chart. Wait for the breakout and pullback to enter the trade.

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Downtrend channel continuation or long breakout? Litecoin price is moving in a downtrend channel since last february, now it's facing the upper-trendline again. It seems though that bulls might be dominant in this phase of the market (long bullish candles, long lower shadows where the 15 and 50 periods EMA are supporting, and a generally weaker dollar on the other hand).

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Do you guys like longer term forex trading? Take a look at weekly USD/CAD chart. Interesting set-up on the way. Pay close attention if the price reaches the 1.33 level. If the set-up is opportune that price would be the reversal.