WTI broke above a key horizontal daily/4h resistance level.
now the market retests it and we already see a formation of two dodji candles on that.
on 1H the price formed a double bottom formation and broke above its minor resistance
confirming a local bullish sentiment.
now bullish continuation is highly...
it looks like USDCAD finally broke below the major rising trend line.
sellers show their willingness to push lower.
here are the next goals:
1.30 - 1.31 zone is the first support.
it is based on structure and 618 of the major bullish weekly leg.
1.28 - 1.29 zone is the second support.
it is purely based on structure.
AUDCAD has recently broken below a major trendline.
now the price retests it.
the last 8H candle closed forming a dodji with rejection so it looks like for now bearish pressure remains stable.
to catch a bearish continuation I would suggest being focused on a bearish flag pattern on 1H.
local horizontal resistance...
Cute bearish cypher formed on GBPAUD.
Yesterday's weak daily bullish candle confirms the slowing bullish movement + rsi reached overbought condition.
Chances are high that the price will retrace.
Our initial target will be:
Silver has formed a cute dodji + rejection candle on 4H.
trading within a strong resistance cluster the market confirmed the local bearish sentiment.
on 1H we just saw a bearish violation of a rising wedge pattern.
the breakout now is confirmed and I anticipate a decline.
GBPCAD has reached a wide daily supply zone.
the price went rejected on Friday confirming the strength of the underlined structure.
on 1H the price dropped with a strong bearish impulse (flag pole) and currently is trading within a horizontal parallel channel (bearish flag pattern).
sell signal for us will be the bearish...
WTI is trading on a key weekly structure.
from July the market is becoming weaker and weaker.
to clarify the future market direction we need to wait.
if you are bullish biased the best strategy is to wait for a WEEKLY violation of the underlined structure to the upside.
then the price will most likely continue...
after 1 month long bullish rally on EURUSD,
it looks like we finally see a strong reversal signal.
on a daily, the price went rejected after an attempt to violate a key weekly resistance
and the previous daily bullish candle was eaten by a strong bearish engulfing candle.
in conjunction with rsi divergence, it looks like...
GBPCHF is stuck in consolidation.
since July the pair is trading within a wide horizontal range setting equal highs and equal lows.
to clarify the future direction of the main we should wait for a daily violation of the range first.
1.19 is its resistance.
in case of a daily candle close above that, the price will most...
USDJPY has reached a very strong major key level.
the chances that the market will retrace from that level are very high.
to catch a bullish move pay attention to a completed head and shoulders pattern on 1H.
105.15 is its neckline. this level must be broken to the upside first,
only then we can buy the market.
CHFJPY is retesting a key daily structure.
the price has been rejected from that level first and then formed a dodji candle.
on 4H the price is consolidating within a bearish flag pattern formation.
now the price is trading within a 4H structure support zone matching with a daily level and fib.confluence of the last two...
GBPCAD has recently broken and closed above a key daily level.
now the price retests that level.
on 1H we see a falling wedge pattern.
bullish breakout of that (1h candle close above) will give us the perfect opportunity to catch a bullish movement.
safest stop is below the last low within the...
GBPNZD retraced from a 4H structure resistance.
the price has broken below the support of a minor rising channel,
confirming the strength of structure.
now bearish continuation is highly probable.
AUDNZD is approaching a strong daily/4h structure support.
the underlined yellow area is based on a horizontal structure and fib.confluence of multiple impulse legs.
Friday's daily candle has been rejected from it with a dodji candle.
to catch a bullish movement from this key level,
pay attention to a bullish flag...
confirmed daily candle close above the previous June's structure high.
now bulls will most likely push higher.
next strong resistances:
1.294 - 1.302 area based on a projected harmonic movement, fib.extension confluence and structure
1.315 - 1.322 area based on a fib.extension confluence and structure
USDCAD reached a major 3 days/daily rising trend line.
this trend line matches with a horizontal daily/4H structure
and yesterday the price has been rejected multiple times confirming the strength of the demand area.
on 1H the price has formed a h&s pattern and now it is attempting to break above the neckline.
EURCHF is stuck between two horizontal structure levels.
it is a classic example of the indecision.
the best way to clarify the future direction of the market is to wait for the breakout of the range.
though It can be broken to both sides,
I am bullish biased on this pair and would trade only a bullish violation.