The US dollar strengthened against the euro this week as markets assess the likelihood of an ECB rate cut. We've already locked some profits of the earlier bull-move in our Trading Club and closed the remaining position until the dust in the market settles.
Bear in mind that, although the Fed took a dovish stance, there is an important difference between the...
The EURAUD pair formed a nice Head and Shoulders pattern and completed a pullback to the broken neckline.
Today's strong bearish candle has reached the lowest level since May 07 and suggests lower prices.
The H&S pattern projects a profit target around the 1.5700 level, which aligns with the lower zone of a recent sideways range.
Brent is breaking above a recent high to form a fresh higher high, after the price retraced and found buying pressure at the 61.8% Fib level.
A close above $68 sees no significant resistance until the $70 level and above.
We're holding our long position since the formation of the double bottom pattern on June 13.
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The EUR/USD pair is printing an indecisive candlestick after a bull run last week, signaling that market participants are taking a break to assess latest news from the Fed.
The USD consolidation phase may not last long as important US reports are scheduled for tomorrow: US retail sales, core retail sales, and Fed's Powell is delivering a speech.
The pair will...
We've started a new section in our TradingView profile with daily updates for major pairs, gold, oil, and indices.
The GBP/USD pair is trading significantly lower after triggering an H&S pattern - a setup that we shorted in our Trading Club and posted here on TradingView.
The previous week, markets dumped the pound on views that the UK economy is...
EURUSD has continued its bull run for the second day, after breaking out of a bullish wedge pattern and reaching near a horizontal support zone.
From a technical standpoint, the higher highs on the daily chart suggest that an uptrend is forming.
Yesterday's dovish testimony by Fed's Powell put selling pressure on the greenback as markets place a higher...
The EURUSD pair is slowing breaking above a bullish wedge, with the RSI forming a hidden bullish divergence.
Daily candles are about to form a bullish Morning Star reversal pattern.
The overall trend since May has been up, with a potential fresh higher high to come.
The USD strength is clearly losing momentum and markets are still assessing the possibility of...
Hi guys, AUDUSD is forming a promising setup on the daily chart.
The price made what looks like a fake breakout with a bearish pinbar candlestick near the 61.8% Fib level. The level also aligns with a horizontal and trendline resistance.
The RSI formed a bearish divergence in a pair that is overall in a healthy downtrend.
Let's see what today's NFP will give...
Gold formed a double top pattern on the daily chart as the price didn't manage to break above the $1,439 high in this week's attempt.
The RSI is forming a slight bearish divergence, which combined with a pinbar (tweezers) candlestick pattern may send the price lower.
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Hi guys, the EUR/USD pair is completing a correction to the 61.8% Fib level on the daily chart, suggesting that the recently formed uptrend may continue.
The price has also formed a bullish wedge pattern with an indecisive candlestick during yesterday's trade and a bullish candle in today's trade.
My buy trigger is an upside break of the wedge pattern, with an...
Brent crude has fallen almost $15 since its 2019 peak of $75, forming a double bottom pattern which aligns with the 61.8% Fib level of the Dec 24 - Apr 25 move.
Crude inventories came in higher than expected for the last six Wednesdays, which played an important role in the $15 fall.
However, a possible escalation of tensions in the Middle East after two tankers...
Take a look at the following EUR/NZD chart. The price broke below a rising channel and completed a pullback, the level aligns with the 61.8% Fib level and forms a strong horizontal resistance with the previous highs.
There's also a slight bearish divergence on the short-term timeframe, with the RSI failing to make new highs despite the rise in the price.
The EURCHF pair has reached once again an important support level which can be seen on the weekly chart. The support is formed by a confluence of the 61.8% Fib level and a strong horizontal support - the lower levels of the recent range.
Shorter-term charts shows a symmetrical triangle pattern which may soon break out to the upside. The pair may retest the upper...
A beautiful setup appeared on NZDCAD. The pair has reached the 61.8% Fib level which seems rejected with a reversal morning start forming on the daily chart.
The pair has also been trading inside a bullish wedge, and a break above the upper wedge line could send the pair to the 0.91xx area (a 3% gain).
The recent down-move on the daily seems overstretched...
The GBP/USD pair is about to trigger a head and shoulders pattern on the daily chart, after rejecting the 50% Fib level of the April '18 - December '18 impulse move.
The pattern projects a fall of around 450 pips (around 3%), which aligns with the December 2018 low of 1.2500.
Bear in mind that upcoming Brexit developments may increase volatility and intraday...
NZDCAD is triggering a bullish wedge pattern on the daily chart, after finding strong buying power at a horizontal support zone previously. (Setup posted recently).
The bullish divergence is also still in-tact. Overall, the pair trades near the lower range levels and has more upside potential.
Today's risk-on market environment and week/month-end profit taking...
NZDCAD reached a horizontal support level, near the lowest level of 2019. A strong bullish candle is forming, and a bullish view is also confirmed by a bullish divergence between the price and the MACD.
Furthermore, the pair is forming a bullish wedge pattern with the current fifth having a high probability of breaking above the upper wedge line.
AUDCAD has been in an overall downtrend so far and seems to face resistance at the 61.8% Fib level.
In addition to the Fib and horizontal resistance, the price has also formed a bearish divergence on the MACD.
Today's strong bearish candle and rising oil prices (positive for CAD) supports our view.