The pair had a strong bullish run this week and on the way up broke an important structure at 105.40 and now has reached the trendline which is confirmed as very strong resistance area since we have had 5 tests until now and none of them managed to break above it. Now we are testing this trendline again and as we see the previous 4 hours candle did not manage to...
During the last week, the pair reached down and tested Monthly S1 0.7675 and then did a strong move up to the highlighted structure which served as resistance. Taking the current price at consideration at 0.7700, we can see that it is more near the Monthly S1 than the structure above, so the chances are that Monthly S1 can be tested again, but for us to take a...
Last week's strong break above the 105.50 line found support at the Monthly Support 1 line at 104.64 and retraced up above 105.00 but failed to close at these levels, indicating that bearish pressure at these area is very strong. We expect for this week that USDJPY bears are still strong and can drag price even lower below Monthly Support 1. In terms of price...
USDCAD had a very bullish action last week and as it seems this may continue for this week too. The price has broken strong structure near 1.2900 which served as strong support/resistance and then also broke above the Monthly R1. This indicates that USDCAD bulls are still very strong and further move on the upside is expected. A pullback from current levels down...
Last week AUDUSD bears were very strong dragging the price down for more than 160 pips in just two days. After this strong move we may expect some retracement going on with the pair so we expect now the price to reach 0.7750 area which marks a very important structure. We expect a test of this area then price to continue down to the Monthly S1 as nearest structure...
During the past week we saw that the bears were strong and kicked in at 107.00 to bring the price down. For this week we may expect some retracement then price to continue down move to 105.40-105.50. At this moment the pair is not enough attractive to take a short position because of the long distance from the nearest strong structure above. A retest of the 107.00...
It has been more than a month now that the USD index is not managing to break above the strong resistance at 90.40-90.50. There have been about 4 tests of this area and none of them was able to break it. We expect that this test will fail too and the price reach at least down to 89.50 area where we have some short term support structure which now may be seen as...
Last week our Bullish expectations for the AUDUSD became reality and the price reached the Monthly Pivot Point at 0.78624. Now this point represents a highly important structure on the chart as we expect this area to serve as strong resistance for the pair. If price fails to break above this zone, we may see a move down to the structure at 0.7750. Our...
We start this week on USDJPY with an open just above the 106.60 structure. Currently we are testing the Bearish trend line and this area at 106.90-107.00 may serve as resistance to the current price action. If price fails to break above this structure, a move down to 105.50 area is of high probability. If price manages to break this trend line and close above it...
Our analysis of the DXY chart of the previous week are still valid for this week too. Price went near the resistance at 90.50 making the high of the week at 90.30. This structure at 90.30 is important because it looks like it is finishing the right shoulder of the head and shoulders pattern on the 4 hours time frame chart. As we see from the chart, based also on...
After strong bullish run of the pair, now USDCAD is at a very critical structure on the chart. This area around 1.2900 represents a very strong resistance where we expect that the pair may struggle to break through it. In this case, a move down towards Monthly Pivot Point at 1.26420 is likely to happen. However, the strong bulls run may not be over yet, and if it...
AUDUSD was trading at the end of last week at a very important market structure. This area at 0.7750 was very important support/resistance in the past so we may expect a strong move up after the price has already tested this level. For this week we anticipate a high probability bullish move at least to the Monthly Resistance 1 line at 0.7965.
USDJPY broke an important level of support near 106.50 last week with a strong downwards move. Now we think that this week may start with an initial impulse move on the upside and a test of 106.50 area may be in sight, which now should serve as support turned to resistance. As we see from the chart, a move up to these levels may validate also the trend line, which...
As we discussed on the previous analysis of the DXY chart, the 90.50 resistance is pretty strong. The USD bears on this area are very strong and we think there is a high probability that this area is tested one more time this week in order to gain more strength for the downward move which if happens may see the price reach 88.50. However a reach of this point is...
Last week first move that we anticipated was a bullish move from the Monday's open at 106.60 all the way up to the 107.17-107.40. We expected a test of this zone and then price to reverse and continue its down move. Price tested this area as expected then on Thursday bulls took in charge and dragged the price down this way creating a strong bearish candle. After...
Since our last analysis on DXY, it fulfilled our expectations making a nice bull run and heading near critical structure at 90.50. We expect for this week that the price will reach and test this area, and then see what happens. If price manages to break this structure, the upside move may continue up and reach next area at 92.25 which may serve as next resistance....