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As the eagerly awaited OPEC+ meeting approaches, whispers of potential production cuts among its members are gaining momentum, hinting at a strategic move to stabilize oil prices. In such a scenario, the prospect of a surge in oil prices looms on the horizon, and the GBPCAD pairing stands poised for a correction. The delicate balance between global oil supply and...

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EURAUD is completing a breakout of an important long term trendline and is headed to the south.

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The upcoming week appears to be relatively light on economic data, with the highlight being the RBA (Reserve Bank of Australia) rate hike. Anticipations are for another 25 basis points rate hike by the RBA, reflecting ongoing efforts to manage economic conditions. Additionally, it seems that geopolitical tensions in the Israel War are not expected to escalate...

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FED's Powell said we are close to end the cycle. The Federal Fund Rate remained unchanged and it seems that we are in the pause cycle and close to rate cuts. SPX historically soared 15% in the pause cycle.

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EURCAD made a rejection from the daily trendline and rising oil prices are going to add to the pressures. I expect EURCAD will fall from this point.

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H4 channel is updated. DXY is poised to make a deeper correction despite better than expected GDP number.

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DXY (Dollar Index) is going to fall after touching the hourly trendline.

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EURUSD is poised to go higher after retesting the broken trendline.

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The substantial disparity in interest rates between the United Kingdom and Switzerland is a fundamental factor that has the potential to significantly impact the GBPCHF currency pair. This pronounced difference in rates should, in due time, become evident in the pair's exchange rate. As of now, I'm patiently awaiting a confirmation of this expected price movement....

Tradingstrategyguides Updated 

In the daily timeframe, GBPCHF has recently breached the lower boundary of its trading channel, largely due to increased demand for the Swiss Franc (CHF) as a safe haven currency amidst the Israel-Hamas conflict. I'm closely monitoring the pair for a potential pullback, which may present an attractive opportunity to initiate a long position. The dynamics of this...

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Even in the face of unexpectedly robust retail sales data in the United States, the US Dollar Index (DXY) seems to be struggling to gather the necessary momentum for a substantial upward move, indicating a potential correction is on the horizon, with a target level of around 103.50. While today's speech by Federal Reserve Chair Jerome Powell holds significant...

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On the monthly timeframe, GBPAUD recently encountered a significant obstacle as it was decisively rejected from a crucial long-term trendline. Currently, the currency pair finds itself in the process of retesting a daily trendline. Given this price action, it seems increasingly likely that GBPAUD is poised for a substantial downtrend over the coming months. This...

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These different price action patterns are great for various situations. They can be identified at a Lower time frame or Higher timeframe, pick a chart and start looking at the candles! If you identify any of these in a chart you are looking at today, feel free to share them below. Here is a little more about bullish and bearish candlesticks: Bullish and...

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Bear Flags are a Range and they are repeatable trading chart patterns. Bear Flags are ascending chart patterns that will have a directional bias depending on the previous incoming trend. Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern. What ever time frame you are trading this chart pattern, wait for a candle...

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Bull Flags are a Range and they are repeatable trading chart patterns. Bull Flags are a descending chart pattern that will have a directional bias (long) depending on the previous incoming trend. Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern. What ever time frame you are trading this chart pattern, wait for...

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Bull Flags are a Range that is a repeatable trading chart pattern. Bull Flags are a descending range chart patterns that will have a directional bias (Long) depending on the previous incoming trend. Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern. What ever time frame you are trading this chart pattern, wait...

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Ascending Triangle are repeatable trading chart patterns. Ascending chart patterns will have a directional bias depending on the previous incoming trend. Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern. What ever time frame you are trading this chart pattern, wait for a candle close outside of the trendline...

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Ascending Triangle are repeatable trading chart patterns. Ascending chart patterns will have a directional bias depending on the previous incoming trend. Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern. What ever time frame you are trading this chart pattern, wait for a candle close outside of the trendline...