With a strong bearish rally on OIL yesterday, CAD pairs are nicely reacting. USDCAD formed a high momentum bullish candle on a daily. Approaching a daily falling trend line, the price is currently forming an ascending triangle (classic bullish accumulation pattern). To catch the next swing move, wait for a bullish breakout of 1.25 horizontal resistance of the...
Hey traders, NZDUSD is currently trading within a wide horizontal trading range on a daily. 0.71 - 0.715 is ist resistance. 0.692 - 0.695 is its support. To catch the next directional movement, wait for range's boundaries breakout. Bullish violation will push the market to 0.73 level - the next strong resistance. Bearish breakout will lead to a continuation...
Hey traders, A lot of forex majors are standing on key pivot points right now. Here are some of them that I am monitoring at the moment. 1️⃣ EURUSD - Daily time frame 🇪🇺🇺🇸 1.185 was the previous structure low and a local strong key level. Even though the price attempted to violate that last week, with a strong rejection, a daily candle closed above the...
Have you seen that huuuge red candle on WTI? No doubt, the price reached a key monthly structure, and bears started to push. In order to catch a swing move, keep monitoring a rising parallel channel. For now, its support is the last resort for buyers to buy from. Being broken, it will trigger a strong bearish move. Next supports will be: 72.0 70.0 Remember,...
Hey traders, USDJPY is approaching a support line of a major rising channel on a daily. Taking into consideration that the price is trading in a bullish trend, the underlined point can give us a nice & safe spot for buying. To catch a bullish move, your confirmation will be a bullish breakout of an intraday falling channel on 4H. Wait for 4H candle close...
In comparison to AUDCAD, NZDCAD still looks very indecisive. The price is currently coiling within a horizontal trading range on 4H. Being very bullish biased, I am waiting for a range's resistance breakout (4H candle close above), as a confirmation to buy. Initial goal will be 0.874 In case of a bear breakout of the range, setup will be invalid! ...
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CADCHF is currently accumulating on a strong daily resistance. The price is setting higher lows and equal highs. From a current perspective I see two equally possible scenarios: Bullish In case of a bullish breakout of the underlined yellow resistance cluster, a bullish continuation will be expected to 0.752 - next strong resistance. Bearish In case of a...
If you remember, last week we spotted a structure breakout on GBPUSD. The price broke and closed below a daily key level, and for us, it was a strong bearish clue. However, it turned out that the breakout was false. After a violation of a support, the price was accumulating for quite a while and managed to return back above the broken structure and also...
Hey traders, EURUSD is playing with our expectations. If you are an intraday trader, you could be possibly caught by a false breakout of 1.1845 structure support. Though the price managed to close below that on 4H and 1H, on a daily time frame we got a rejection with a daily candle close ABOVE the underlined level. In order to catch a bearish continuation, we...
Gold is nicely rallying from a key daily structure support. The price is steadily growing within a bullish flag pattern. On Friday an intraday 4H supply cluster was reached. Taking into consideration, that the market remains quite weak, I will wait for a bearish breakout of a flag as a signal to short. Goals will be 1768 1755 In case of a bullish breakout of...
AUDCAD reached a key historical low of 2020. As an intraday confirmation, the price violated a falling parallel channel to the upside. I bought the pair on a retest. Initial goal - 0.9323 ❤️Please, support this idea with a like and comment!❤️
EURGBP broke and closed above a resistance line of a falling wedge pattern on a daily. High momentum bullish engulfing candle makes me think that this breakout won't be false. Retest the broken wedge, bullish continuation will most likely follow. Next resistances: 0.864 0.8665 ❤️Please, support this idea with a like and comment!❤️
WTI is approaching a major weekly resistance cluster. Taking into consideration that the market is heavily overbought, pullback will be highly probable. To catch it, follow a rising wedge pattern on 12H chart. Wait for its support breakout as your trigger to short. Goal will be 70.0
Hey traders, EURUSD is playing with our expectations. If you are an intraday trader, you could be possibly caught by a false breakout of 1.1845 structure support . Though the price managed to close below that on 4H and 1H, on a daily time frame we got a rejection with a daily candle close ABOVE the underlined level. In order to catch a bearish continuation,...
Gold is nicely rallying from a key daily structure support . The price is steadily growing within a bullish flag pattern. On Friday an intraday 4H supply cluster was reached. Taking into consideration, that the market remains quite weak, I will wait for a bearish breakout of a flag as a signal to short. Goals will be 1768 1755 In case of a bullish breakout...
If you are bullish biased on USDCAD and you want to catch a bullish wave, here is a trading plan for you to follow: 0 - Stay focused on a major falling trend line that matches the last three lower highs 1 - Wait for its bullish breakout (daily violation) 2 - Buy on a retest (it will be the safest point) and preferably with an intraday confirmation 3...
Hey traders, EURUSD is currently retesting a current local structure low. Being a strong support, I am waiting for its bearish breakout as a signal for a further decline. We need a daily candle close below the underlined structure to confirm a bearish continuation. Being confirmed, bearish continuation will be expected to 1.171 level - year's low. ❤️Please,...