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This has been my favorite scenario since my Sunday analysis. Crude Oil is showing THE textbook reversal pattern. It seems as if the trendline is the only thing still holding Crude up. At the same time, the USDCAD has already started to move higher after its reversal pattern. A break of the trendline on Crude could lead to a huge USDCAD rally.

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USDMXN has a very interesting and classic reversal setup, although bulls are still able to keep price up there - despite the NFP disaster. The trend is clearly losing strength and when price pushed into the green supply zone, it got rejected fast. It's too early to short yet and we need a stronger bearish momentum confirmation before selling. It's a great...

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EURCHF just facing some major support - trendline and horizontal support. Price action is picking up downside momentum and the current sell-off is becoming stronger, making a break likely. Wait for a confirmed breakout of the level. Overall great reversal structure: Lower lows after hitting major supply (green box)

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The AUDNZD is just seeing his trendline breakout after this pair showed a classic market bottom pattern. massive RSI divergence, strong momentum candle on the break of the MA and now the run to break the trendline. The downtrend was fading for some time and the steam has been building up. A successful breakout could offer some great long potential. The price...

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USDCHF smells like a reversal for days but it seems that we are now reaching the tipping point. We have it all: momentum divergence at a double top, break of the MA with increasing sell-side momentum and a shift on the DXY as well. The hurdle right now is the trendline but a break (and retest) of the trendline could open the floodgates for more selling. The...

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The trend structure is shifting. The two wave uptrend formed a top for a few days and price repeatedly pushed into the MA. The RSI clearly confirms that the trending waves are gone. Now we need a strong bearish candle to break the MA to confirm the complete shift in momentum. If price keeps rejecting the MA, it's not good to sell. The downside potential is...

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The current USD/CAD chart is a great example of how confluence works in trading. The 2-wave uptrend has been slowing >> RSI divergence Price made a triple top Above current price we see a resistance level and the 138 Fib We are missing: Strong bearish momentum break The break of the moving average to the downside Don't short just yet, but...

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This looks like it's going to break support

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1.466 was the level everyone was watching and price is now showing all the typical reversal signals. Strong rejection RSI divergence A move into the outer Bands followed by the turnaround The MA held nicely so far and a break of the MA is the final piece to the puzzle.

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The EURCHF tells a great story A rally that slowed on the way up as it moved into resistance. Momentum shifted and price is now making lower highs and lower lows. The break of the MA is very strong.

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Although the EURUSD is still holding up at the 1.133, the bearish bias is very obvious: Head and shoulders Lower highs Each bullish attempt is rejected Resistance is holding Need a catalyst to make the initial bearish push.

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1.257 is a major level on the (check the left weekly chart). On the 4H (right chart) we see a classic reversal pattern: divergence, break of the moving average and higher lows. If the moving averge holds, we can expect further bullishess. A break of the moving average would cancle the trade idea. The scenario on the Dollar Index supports the scenario.

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The Head and Shoulders pattern on the Dollar Index is breaking higher! The divergence right at previous support gave more context to the pattern. At the same time, you can see other USD related FX pairs making a turn. No big news scheduled for today, so technicals will drive price.

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Been stalking this pattern for a while now. At this point, it's just a potential pattern and nothing concrete. Price is still able to hold up there, but price makes lower highs and momentum is fading. HOWEVER, it's a very obvious pattern and I wouldn't be surprised to see a squeeze and a run to the upside before we see new lows.

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The Daily chart looks like a reversal is setting up here. We have the momentum divergence and the wave exhaustion away from the Bollinger Bands. However, we don't have a nice price rejection yet and price came short of the price level at 0.804 - so it's a reversal in the middle of nowhere. The 4H is not showing a reversal pattern either, but it could set up a...

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The USDCAD is back on the watchlist after this week's drop. It shows some over-extendedness with a Bollinger Band spike. Keep in mind that the first trend wave is usually not the one that leads to a reversal trade. Wave 2 and 3 are much more likely to give a divergence. The USDCAD is a waiting game now. A push below 1.366 would trigger a few orders which then...

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After the double bottom that printed after a Bollinger Band spike and a momentum divergence, S&P trended higher very strongly. 1950 is the top of the range. 1975 - 2000 is a supply zone most investors will keep a close eye on. Entering now would be premature as we are in the middle of a zone, but if price makes it to the top, we could see another high...

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The EUR/USD had a good run up and it hit all targets we laid out, although it has to make it to 1.15. However, price action shows some fading momentum. The 2.5 Bollinger Spike that came with a divergence lead to a short pullback. Price is now making a new run for the highs. We are looking for a longer reversal trade lower, but it's still lacking a few important...