The overall market bias on the GBPUSD in the last couple of weeks is bearish. The bears were stronger until the price reached the M_S1 where the bulls kicked in and pushed the price up. We see a nice bullish engulfing pattern on the daily chart, which is formed exactly at the support area so we believe that the bulls will keep the momentum of the move at least to...
At the beginning of the last week we saw an open just above the M_PP on the USDCAD pair then on Monday the pair tested the area and climbed higher. We got our long pending order triggered and the trade was immediately on profit. We got our TP hit before the pair lost all it's gains at the end of the week resulting from Trump's comments. At the close of the market...
Even though we have been waiting for the pair to test the M_PP level from below in the last couple of weeks, the pair is trading in a range just below this level but not reaching it. On the end of last week we saw a high momentum bullish rally so we believe if this momentum is continued on the beginning of this week we will have a retest of the M_PP. Then we will...
In the last few weeks, the greenback gained strength and climbed confidently on the chart against the counter japan currency. Two weeks ago the pair with very strong momentum broke the M_R1 and M_R2 levels and last week the price was moving above these levels with very strong expectations for the bullish run to continue. According to these expectations and the...
The pair violated few times the support/resistance expected around M_PP, making it not very clear if this area will hold and give direction to the pair. Now as the price has moved below the M_PP and is approaching it from below, we will be looking for the price reaction when reaching again this area. We may have sell opportunity but we will have to look for it carefully.
Weeks ago the pair did break the resistance at M_PP and with the same strong momentum moved up to the M_R1 where it encountered resistance. After meeting this resistance the pair retraced down to test the support at M_PP which was broken for a while but then the bulls managed to bring the price above it again. Now as the price is trading above this area, we will...
As we were expecting last week for the AUDUSD pair, we had a test of the M_PP from below which then was proved as resistance for the pair and the price moved 100+ pips down. For this week we will be still looking for a retest of this area as the price gave some bullish signs and then we will be looking for short positioning after the price reaches again the M_PP levels.
As we can see from the last week chart of the USDJPY, we had a strong breakout of the M_R1 and M_R2 and now price is trading above both of these levels. This move is also very significant because on the weekly/daily chart we can also see that the downward trend which was several times tested from 2016 is now broken and now we can have a change on the overall...
The pair similar to USDCAD tested the M_PP as expected from our analysis but then the structure there was unable to hold as resistance and the price broke and closed above this area with a strong move. For this week as the things stand now, it is a high probability that the price will continue its move on the upside. As we got caught on short position on the pair,...
The pair in the beginning of the last week was trading above the M_PP. As we expected, the pair then moved on the downside and reached the M_PP levels. First attempt to break the support here was unsuccessful but the n on Friday, affected also by the news, the pair managed to break and close below this structure. We got long at the test of the area, so now the...
In the beginning of the last week during our analysis, we were expecting for the price to move up on the chart and test the Monthly PP at 0.74673. Instead of this, the price moved in a range and did not manage to reach the level of M_PP and test it. We had a short position planned to trigger when the price touches this area but the position was not triggered, but...
Last week the USDJPY pair was characterized by a lack of volatility of the price, so for the most part of the week the pair was trading in a range with no clear direction. On the last part of the past week, the pair somehow managed to give more of a down move, which we expect to be the theme for this week too. We expect a move down, at least to test the M_PP at...
Last two weeks were very indecisive weeks where price moved up and down but formed doji weekly candles. For this week we will be expecting bears to be in charge of the action and drag the price lower as it is the mid-term bias of the market but first we will be looking for a test of the M_PP at 1.32417. If price tests this structure we will be trying to take short...
USDCAD moved downwards last week and now it is at a very important structure where it may break through or reverse. The monthly PP level at 1.31252 is very important and could now serve as support and reverse the price to the upside or if broken may send the price down to the M_R1 levels. The movement is not very clear so we will have to wait to see where the...
Last week the pair was very bearish but then on Friday it regained some of it's previous loses. As we can see from the mid-term price action, we are in a downtrend so we will be looking for short positions if we have some retracement up to the M_PP. If price tests this area we will sell and will try to be on the move down to the M_R1 area.
Last week the pair moved up for more than 130+ pips and reached the previous M_R1. At these levels we have also located the resistance from the trendline which is drawn from Dec.2016/Jan.2017 highs and got tested several times until now without being broken. On Friday last week, the price tested again this line but it did not manage to break above it so we believe...
After breaking the M_PP which also represents a very important structure in the past, (Brexit levels) the price continued to move further down the chart and making a new low. The pressure on pound should continue as the greenback gains strength and we expect in the longer term a break of the M_S1 and a test of M_S2 which represents lows of the after-brexit period....
Last week after breaking the resistance at M_R2 1.32287, the pair continued the up move. It got rejected at 1.33500 and on the last part of the week it was heading the M_R2 area again. We believe now that this area is a resistance turned to support and bulls should be strong here. In case if we have a test of this area, we will be looking to initiate a bullish...