With over 250pips in our direction since my last publication on this pair (see link below for reference purposes); Price experienced a Correction phase to climb back to our previous Key level @ $1.3000. Since the termination of the Impulse leg that began this month, the price has been moving sideways between $1.27000 and $1.30000. The optimism on Brexit coupled...
It is over 150pips in our direction since my last publication on this pair (see link below for reference purposes); The “risk-off” situation going on globally appears to favor the US dollar as the Euro rejected the Demand zone and fell during the trading session on Friday to close below $1.17500 (making this level a Supply zone as Selling pressure increases from...
The Euro appears to be gaining momentum after such a long time lingering in the background of a Bullish Franc as it begins to find her way a major Demand level. A bullish engulfing candle breaking out of Major Support/Resistance level last week is a sign that supports a Bullish perspective in the coming week(s). Tendency: Uptrend ( Bullish ) ...
The Pound bounced with a vengeance after seeing a Double Bottom structure on the weekly chart to continue her rally! A Breakout of N$1.93500 last week followed by a retest of N$1.94000 later in the week summons a rally continuation in the following week. Tendency: Uptrend ( Bullish ) Structure: Breakout | Reversal Structure ...
The dominant perspective that the Kiwi could suffer on new measures from the Reserve Bank of New Zealand brought forward on risk-off has a significant reflection on the chart as we experienced a Breakdown of Key level at $0.66000 after series of Bearish wave though the whole of last week. Tendency: Downtrend ( Bearish ) Structure: ...
The skepticism in the market in the last couple of weeks culminates in the limelight for the Bulls as Nasdaq-listed company MICROSTRATEGY recently bought almost 17,000 BTC within the last 74 hours. As the Breakout of Key level at $10,700 last week holds, we are beginning to find a "new" Demand niche around this zone as price consistently makes sharp rejections of...
The CAD continues to struggle through the first half of the month as the Yen looks to re-emphasize its dominance in the coming week(s). As I look forward to the Breakdown of Daily trendline, a correction/retest of this line might be a simple signal for me. Tendency: Downtrend ( Bearish ) Structure: Trendline | Breakdown | Reversal Pattern...
Weak economic data and pressures on the oil market are taking a toll on the CAD as it continues to find it difficult to raise the bar. The sharp fall after reaching a peak of 0.70000 appears to hold ground. Tendency: Uptrend ( Bullish ) Structure: Trendline | Supply & Demand| Reversal Pattern (Head and Shoulder) Observation: i. Even...
With over 150pips in our direction since my last publication (see link below for reference purposes); the pair remains range-bound between Support at 1.31350 and Resistance at 1.32500 with Breakout potential building considering the hold of the Major Support/Resistance zone on the weekly chart after the Bearish run that started in March 2020. Tendency: ...
With over 350pips in our direction since my last publication (see link below for reference purposes), we continue to experience tendencies for a decline in the coming week(s) as UK Prime Minister Boris Johnson agreed to compromise on the controversial Brexit bill. Tendency: Downtrend ( Bearish ) Structure: Trendline | Breakdown | Support &...
With over 250pips in our direction(see link below) before the correction, it appears we are in another opportunity to take a ride on the rally again. It is worthy to note the evidence of momentum building up at the Demand zone ($0.72500) as the AUD/USD pair recovered the ground lost at the beginning of the week on Friday, to settle and close above the Demand...
AUD/NZD is aiming higher within the broad range despite the announcement from Reserve Bank of New Zealand's governor Orr at the beginning of the month (September 2020) that the central bank is ready to deliver more stimulus. Presently, the pair is trading above the Breakout of the Bearish Trendline hereby closing the last week above the Demand zone @ 1.09200 ...
With over 350pips in our direction since my last publication (see link below for reference purposes); we are at a zone where the rejection of the Weekly resistance(Trendline) is happening with a tendency of decline in the coming week(s) feasible. Tendency: Downtrend ( Bearish ) Structure: Trendline | Supply & Demand Observation: ...
The tendency of the yellow metal of been exposed to the support level at $1,910 remains high as the Supply zone remains a very strong rejection level for price action at this juncture in the market. Tendency: Downtrend ( Bearish ) Structure: Trendline | Supply & Demand Observation: i. As price continues to respect the Bearish Trendline since it hit peak @...
It has been a while since I published anything on USDCHF due to validity of previous bias. With over 300pips in our direction since last publication (see link below), it is now glaring that the present structure is so ripe for a reversal (at least a correction move since the downward spiral began in March 2020); As the Greenback pushed higher last week to close in...
I had a Bearish bias last week with price moving over 100pips in our direction (see link below for reference purposes). Despite price action still portrays a dovish tendency, it is important to note that price is presently sitting on major Support/Resistance (see Day/Week Chart) which has been a sensitive Demand area multiple times in the past. As US job figures...
With 50pips against us since my last publication (see link below for reference purposes); It now appears that the Breakdown of 105.700 was nothing but a false one! As the pair recovers from the dual blow of Shinzo Abe's resignation and Federal Reserve's dovish policy shift; The US dollar rallied during the course of last week to slam into my Key level @ ¥106.50...
With over 100pips against us since my last publication (see link below for reference purposes); The increasing risk of a No-Deal Brexit is beginning to reflect in market structure as momentum remains to the downside which is also aligning with my last week expectations. Breakdown of my Key level @ 1.33000 on Friday with an Engulfing Bearish candle sets the Pound...