We've seen two consecutive fails on this pair, plus a daily evening star pattern formation.
The trade was taken based on the daily structure.
RR is good to go at this point, we are looking to sell until the next psychological support point.
NZDJPY - The first pair we are going to look into today is NZDJPY. We have seen a strong rejection off the 65.300 zone which is a strong resistance. However, we would like to see the chart printing a powerful bearish move before entering our trade.
Update - The 4hr candle didn't close bearish so we are now looking for a double top structure at 66.000 resistance zone.
Looking to hit the support once again in order to take longs on this pair as opposed to NZDJPY. However, the risk:reward at the moment is not there, so looking for a drop to 116.800-116.700 in order for this trade to be feasible.
Nice confluence of zones, we are now trading at a support zone as well at the upward higher-timeframe trend line. We are waiting for a break/retest of the trendline or rejection of the zone in order to look for trading opportunities
EURUSD - One of the most stable pairs there is, right now trading at the demand zone @1.083x. We can still look for shorts within the channel, downwards. There is still room until the support is hit @1.066xx
Disclaimer: Please be aware of the fact that this trade will be taken under the most favorable circumstances and can be altered without prior notice. Only...
USDCHF - waiting for a confirmation of the bullish pressure in order to grab some short entries. Trend line broken on higher timeframe, price is not slightly above 0.618 Fib retracement.
Disclaimer: Please be aware of the fact that this trade will be taken under the most favorable circumstances and can be altered without prior notice. Only take this trade if it...
AUDNZD Trade Forecast
While this pair has recovered some of its pull, consolidating to reach parity, it has now began to decline in an downward trend. Our analysis shows that 1.01-1.02 is a strong resistance point, and we are looking to short this pair at the pullback.
Entry : 1.021x - 1.020x
Stop Loss : 1.024x
Target : 1.01x
Disclaimer: Please be aware of...
CADJPY has been ranging since 6th of March, failing to provide us with higher/lower chart points. On the larger scale, this is normal due to multiple governments regulations being approved on both sides in order to tackle the COVID-19. However, our technical analysis is showing us that the market could potentially be ranging even more, until it reaches an...
USDJPY Price forecast
The USDJPY pair has maintain a bullish stance since the beginning of the month surpassing high after high after declining from the same level it is now trading last month.
The short-time analysis is showing that for the moment bulls are taking a break from the rally and the bears might intervene due to the struggle to extend gains on the...
The pair traded upwards since 18th March consolidating an uptrend. Key points for this pair are 1.003, where it showed strength exhaustion and reversed. However, at the time of this post, the currency is trading at 1.02210 and its failure to provide higher highs is showing us that the bulls are taking a break from the upward trend.
We are looking to buy this pair...