the AUD/USD has been trading this week at a key historical level. If we take a look at the monthly chart, we can see that the 0.800 level has served several times as a key support/resistance reversal area. Currently, the pair has been down-trending all the way to that level, on the back of an impulsive rally in the dollar, coupled with other factors weighing on...
Not too much to say here, we're basically looking at massive momentum running into significant resistance, make sure to be well aware of this long-term collision and make sure to be positioned accordingly.
We're looking at the EUR/USD monthly chart. We can clearly see how highly impulsive these latest few down months have been. However, the pair is currently hitting the base of the long term descending triangle. This is a key historical support area, and we are paying close attention to what will happen going forward. If we get a convincing breakout of the base,...
The EUR/JPY daily chart has broken down a thick kumo support on the back of a highly impulsive bearish wave. Currently, the pair has retested the flat kumo bottom, and is trading bullish for the day. We're looking for an entry on a break of current lows, aiming to enjoy the fruits of the strong bearish bias on the pair as of late.
The AUD/NZD 4H chart is threatening to break the kumo to the upside on the back of kijun support. This breakout could be quite significant, given the prolonged amount of time the pair has been trading below the kumo. The reversal in trend also makes sense given the round bottom we've got recently, which is often the base and accumulation for an emerging market momentum.
The EUR/GBP has been having some significant volatility as of late. Currently, the 1H chart is trading at the trend resistance line. We've also got a nice confluence between candlestick action at resistance and stochastic crossing back from overbought, this at around the 50% retrace of the initial down move. All in all, the pair looks to have downside potential,...
The USD/CAD 30M chart looks to have broken the sideways corrective movement to the upside. This on the back of the 100 SMA and a bullish RSI reading. We're interested buyers, with an impulsive-corrective-impulsive sequence as our trading concept, our target area for this next bullish impulse is around the weekly R2 pivot zone. Our risk-to-reward on the position...
The AUD/CAD is looking to have some upside potential for the coming week. After down-trending for a while, the pair has posted a bullish engulfing on the weekly at a supportive level, following last week’s weekly doji. Weekly candlestick patterns generally carry some significant weight, especially when arriving at a weekly support&resistance zone. Looking at the...
The GBP/USD is moving higher, we may be looking at a possible XABCD bearish pattern in the making. Adding to that possibility, the pair is overbought on both oscillators on the hourly chart. Additionally, if we look at the bigger picture on the daily, the pair remains in a down-trend, with an RSI reading of sub 50, and the pair trading below the cloud. All things...
The GBP/CAD 1H chart is in a descending triangle formation. A break of the base line is projected to send us back to the historic support level at around the 1.79600 handle.
The NZD/USD is in the midst of another impulsive move to the upside, after breaking through the recent flag formation. Currently, we're looking for a pullback back to the 0.77980 area, at which point we'd be NZD buyers.
The EUR/CAD is trading sideways in a descending wedge formation. We're bearish on the pair, with the latest impulsive move being to the downside, coupled with the 100 SMA serving as resistance, after a recent spike above it failed. The way to trade such setups is to keep things simple, enter on a breakdown of the pattern, with a stop above the upper trend-line and...
The GBP/AUD has broken down from a wedge pattern which formed on the 4H chart. We're currently bearish on the pair, and looking for a break of the 1.89900 support, which will then become our short entry level as a breakout-pullback play.
The AUD/USD 4H chart seems to be ripe for a shift in trending momentum. The pair has broken the descending trend-line to the upside, has formed a massive breakout buying candle, and has broken RSI resistance at around the 60 reading. These factors make us short term bulls on the pair, after which we'll have to see how price action reacts at higher levels.
The CHF/JPY 4H chart is trading at horizontal support (120.610), as well as at support from a previously broken descending trend-line. This coupled with an oversold stochastic reading, in an otherwise neutral market makes us interested buyers. We'd like to see the current candle close with some significant lower wick, which in turn should make us very bullish,...
The USD/CAD 4H chart is trading inside a wedge formation. In terms of the overall market structure, we're still in a bull market, with the ascending trend-line coinciding and serving as support alongside the kumo cloud. However, we've got a cross-back from overbought on the slow stochastic, as well as some big bearish engulfing candles in terms of the inner...
The EUR/AUD is displaying signs for the continuation of the down-move. The pair has been in an up-trend for a while now, but the weekly shooting stars coupled with the impulse-sideways-impulse sequence possibility on the daily makes us interested sellers. Adding to that, we got a failed breakout higher on the daily, which ended up as a shooting star, followed...
The AUD/NZD is in a well defined bear trend, and we're looking for the downside breakout of recent consolidation, and the descending triangle formation. A break lower should ultimately send us towards the 1.3500-1.0300 handle, with 1.04700 area serving as future resistance in the case of a breakout-retest sequence.