forexlyfeanalysis

forexlyfeanalysis

The market currently broke out of an ascending triangle after forming a Head & Shoulder driving market to break the trendline. The market had its first Impulse move with the break of the trendline and currently just concluded its exhaustion as the second impulse move is creeping in to start the big bearish move. JPY is on a ride and gaining against major, minors...

forexlyfeanalysis

USD/JPY has been on in a rising channel making decent HH & HL, with a decent and clean market structure. The market broke out of the trendline with the first impulse push and later started the exhaustion move to the upper resistance area, Market has fully exhausted its bullish push and UJ bear market has come to stay. The bullish daily engulfing at the zone is a...

forexlyfeanalysis

Price has been in a descending triangle on the Daily TF making lower highs, the market broke out of the support area of the triangle with the first impulse move and retraced back to the support turned resistance due to exhaustion as expected. Euro uncertainty worries continue has the Swiss Franc safe-haven status still holding. The retest gave a nice par on the...

forexlyfeanalysis

EUR/JPY still looks bearish on the bigger TFs like the Daily and weekly after the breakout of the ascending trendline and retest, however price is creating a similar ascending channel on the 4 hr TF with a final leg of the impulse wave setting up a completion in confluence with the resistance zone and 200 ema. Price could go either way but I would prefer to see...

forexlyfeanalysis Updated 

GBP has been under lots of pressure lately, All 8 Brexit proposals by the British PM (Theresa May) were all rejected. This has put the GBP under investor risk and uncertainty, the last 4 months been a Bullish ascending channel ride for GBP/USD. The bulls are no longer in play as the channel is broken to the downside with a strong retest and 200 ema daily...

forexlyfeanalysis Updated 

NZD/JPY has been on three months ascending channel but luck ran out for the bulls as the market broke out of the channel after meeting strong monthly resistance, the market broke out and retested with a long bearish candle on the daily TF with the 200 EMA crossover to the downside. Reasons for shorting this pair; 1. Ascending Channel Break 2. A retest of the...

forexlyfeanalysis

AUD/USD has been on a downtrend channel making lower highs and lows. Price tested the trendline thrice recently and heavily rejected with the bears still in control of the trendline. The market rejected the last break with a long bearish engulfing and test. AUD/USD is currently rubbing shoulders with the 200 EMA which is somewhat acting as a support for the pair...

forexlyfeanalysis

GBP/JPY has been on a long term uptrend channel making higher highs and higher lows, however the bulls control of the market is running out of steam and bears have successfully broken out of the channel. The extra sell confirmations were the double top rejections and the retest of the trendline with resulting Long bearish 200 EMA candle cross-over to the downside...