FX:CADJPY Over the course of this week, CADJPY has demonstrated a consistent uptrend. However, there is a possibility of a pullback, which might lead to a retest of the 23.6 level before the upward trend continues. To take advantage of this market movement, we will closely monitor the trendline and wait for a bounce to retest our sell entry. Alternative...
FX:EURJPY EURJPY surged with impulsive movement to the upside after breaking above the 78.6. The market retested that area multiple times after the break, establishing this area as valid support. After a few tests of the upward trendline, the bulls ran away. Price action led us to the 165.000 area before consolidating. The break below that range area shows the...
FX:AUDJPY On Monday, AUDJPY had a significant bullish move that continued throughout the week until it reached the price of 100.200. This created a head and shoulders pattern on the 2-hour time frame, indicating a possible trend reversal. If the price manages to reach the .50 Fibonacci retracement level, we could see a retest of that pattern or a break above...
FX:AUDCAD This week, we observed a bullish run in AUDCAD. The price surged and reached its highest point at 0.89200, but couldn't maintain the momentum and dropped soon after. In order to test the strength of the trendline, I decided to sell at the highs, hoping that the support area would be tested during the decline. If the support area manages to hold, we...
FX:AUDUSD At the beginning of the week, AUDUSD encountered a significant resistance level at 78.6, which caused the price to rise to 23.6. Following this incline, we decided to take a short sell position on this pair to observe whether the level of support would be retested. The retest of this level could indicate the validity of our upward trendline. At...
FX:USDJPY Preference: We have reached a critical level on the Daily. If the bears begin to lose momentum, we should consider a few support levels. The 50, and the 61.8 on the Fib are micro-structural levels, and there is a good chance of a retest. Monitor price action at this level to see if the bull run will continue, or if the bears will take over....
FX:USDCHF Preference: USDCHF has been in an uptrend since the end of December. Towards the middle of February, price started to consolidate. In that process, a break in the upward trendline formed a double bottom on the daily, resulting in a continuation of the uptrend. Price has broken above the high, clearing the 61.8 level on the Fib. If price holds at this...
FX:GBPUSD GBPUSD has been in a steady downtrend since March 8th. The pattern that started this trend reversal is a double top at the highs. After the formation of the double top, we've had pretty healthy price movement during the price decline. With the retest of the previously broken structural level of support, we could see a fall to the 78.6 of the 88. on...
FX:EURUSD Preference: After testing a gap on the daily EURUSD responded with a strong downtrend. At the 23.6 price created a short pullback that turned out to be a bear flag to continue the downtrend. If price fails to break above the 23.6 there is a good chance the downtrend will resume to retest the lows. Alternative Scenario: We need to see price respect...
OANDA:US30USD On Thursday, the US30 index experienced a sudden surge in value, reaching a new high. However, the market quickly reacted, and the index dropped down to retest a crucial support level on the 4-hour chart. This support level represents a significant structural break, and its successful retest could provide an indication of the market's direction....
FX:GBPCAD On the daily timeframe, GBPCAD has recently broken out of its previous trading range, which may indicate that its uptrend will continue. The most recent decline to 1.72200 is a retest of that daily level, which could potentially lead to an impressive upward move if the price manages to hold at this level. This would allow the bulls to regain control...
FX:AUDJPY AUDJPY has been moving sideways within range on the 4-hour time frame over the past few days. The most recent upward movement reached a double top before being met with resistance, causing the price to fall and test the 38.2 FIB level. This level is a significant structural support level as all previous price rejections have occurred at this point. If...
FX:GBPJPY If the price successfully manages to break above the 38.2 level on the Fibonacci chart, it could indicate a potential bullish trend in the market. In that case, we may witness a retest of the 61.8 level or even a break above the previous highs. Furthermore, the break of our downward trendline suggests that the market could be shifting towards a more...
FX:USDJPY Preference: Looks like we'll have a solid push for the previously broken structural level at 148.668. If this occurs, we could look at the formation of a bear flag. After retesting the 23.6 level on the Fib. If the price rejects at this level, we could see a break of the upward channel, pushing the price to the downside. Alternative Scenario: Price...
FX:USDJPY Preference: Throughout most of the week, this particular pair of assets exhibited a bullish trend, with its movement closely following our previously established upward trend line. Despite this, the current momentum of the market indicates that the bears are still in control. However, there exists a possibility that the price may revisit the 148.549...
FX:GBPJPY Preference: The GBPJPY currency pair has created a micro-structural level of support at the price point of 188.021. The price has been following a downward trend, with a false breakout above the .236 level on the Fibonacci chart. This indicates that the price may continue to fall. However, if the price manages to break above the trendline and the...
FX:EURJPY Preference: After analyzing the price movement on the 2-hour time frame, it appears that the market is showing signs of a possible bearish continuation. The downward trendline has been respected by the price action, indicating that the momentum remains on the bear's side. Furthermore, the most recent rejection has resulted in the formation of a double...
FX:AUDJPY Preference: After a brief bullish trend, this particular currency pair experienced a sudden and sharp downward movement, which was halted at the level of 96.900. However, the price was unable to sustain this rebound and eventually pulled back, retracing to the .50 Fibonacci level. This retracement resulted in the formation of a potential double-top...