This above is the 4H chart of DAX. There is a major support level just below it, as you can see indicated from the chart.
This could be the beginning of a new bullish move. I am also looking at the daily chart and it looks like there could be a possible pin bar in-the-forming.
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I have been waiting for a pull-back, which never came. I am still looking for the price to come down a bit from the highs.
If that happens, I will consider taking a long position. I will be particularly paying attention to the 4H chart and the price action around 1.1375.
A couple of additional factors...
I am currently looking at EURUSD and it seems like we might be about to see a continuation of the uptrend.
The price has formed a bullish engulfing pattern on the daily timeframe. This pattern is preceded by another bullish engulfing pattern that formed in the previous two trading sessions.
I will be waiting for the EURUSD open to see if there would be an...
Today I am looking at the USDCHF.
The currency pair have reached an interim resistance level at 0.9525. It looks like there are two possible outcomes here.
Price break outs and continues its uptrend to the next resistance level at 0.9725
Price rebounds and comes down 0.9425 and then possibly to 0.9200.
I will be following this pair closely and try to find more...
Today, I am looking at the AUDUSD currency pair. There seems to be an inside day that formed on the daily chart. On top of that, there is a major resistance area just around 0.8100.
One thing to be cautious about is the major up trend. It is usually not a very wise thing to trade against the trend, which could be the case here.
Today, I am looking at USDCAD. It looks like price has found some solid support at 1.2400.
The daily candlestick formation is a bullish engulfing pattern. It is a quite strong confirmation, since the engulfing candle is covering the previous two bearish candles.
The next resistance level is at 1.2650 and after that the level of 1.2900 stands as a strong barrier...
There is an interesting daily candlestick pattern that has formed on the daily chart of USDCAD. It is an inside bar.
In this case, this means a trend continuation. Although, you will need to pay close attention to this one.
The pair is very close to a major resistance area. It might take some time to break above the 1.2900 level.
Alternatively, there might be a...
Is it time for GBPUSD to turn the wave?
Looks like the resistance level is holding fast and there is daily pinbar from yesterday. Also, there is a bearish engulfing pattern on the 4H chart.
What do you think? Has time come already for this beast to
Today, I am looking at the Germany 30 DAX index. It looks like that there might be a continuation of the current trend.
Today’s daily candle is a small bullish engulfing candle with a bearish rejection wick. This indicates bullishness, so I will continue monitoring this instrument.
For now, the intraday charts are more bullish than bearish, but this does not mean...
Today, I am looking at Gold. It seems like there might be some ground for bullish bias. After a significant drop in price, Gold currently imminent support at 1270.
It has formed a bullish engulfing pattern on the daily chart. This gives further optimism for the bulls and might be the initial sparkle for a short-medium based rally towards the closest resistance...