EURUSD has formed a second wave of uptrend, similar in volume to the previous wave, and has found resistance at a significant supply zone this week.
As bearish as USD is right now, it is about time for a pullback / correction, thus we should wait for a consolidation pattern or a retest of previous low before continuing to buy EURUSD.
This week, we should see...
USDCAD has finished forming a Head and Shoulders pattern, and has successfully formed a bearish wave reaching the previous low before finding support.
We can see that the price USDCAD is currently in is a significant price of interest, forming 2 doji candles this week.
Should price be supported this week, we could wait for a retracement back to the neckline of the...
USDCAD continued moving within it's range without a direction this week.
This is good for us as it provides a clear selling price, at the top of the range.
Before closing, USDCAD got supported at the bottom of the range once again, therefore, this week we could look to sell USDCAD at the top of the range once price gets resisted.
However, if USDCAD breaks above...
USDCAD has been moving sideways after a major downtrend breaking out of a descending triangle a couple of weeks ago.
After this week, we can see that price has formed somewhat of a head and shoulders pattern, with current price forming the last shoulder.
Additionally, the last shoulder is currently forming on a strong resistance point from a falling...
EURUSD's movement this week has been definitely leaning more towards ranging, with a slight bullish bias.
As we can observe from price movement, higher lows have been forming, however price is still being rejected from the previous high.
On the daily timeframe, we can definitely see a consolidation pattern being formed, nearing its end soon.
Thus we can expect...
USDCAD got resisted at the top of a falling trendline early this week, and has started a downtrend.
A rising trendline was also broken, indicating that more downside could be seen.
This week, await a short pullback for opportunities to continue selling USDCAD to the next level of support.
USDCAD has been continuing its uptrend after finding support early this week.
However, price is soon reaching a supply zone. Should price be resisted here, it would be a good opportunity to short USDCAD again. If price were to break above this zone, next level of resistance could be seen at previous major consolidation, around 1.3935 - 1.3880.
EURUSD has begun a downtrend after peaking out near previous high this week.
However, with such a strong uptrend, a large retracement would be expected as well.
This week, should price break below the current demand zone, it would confirm further downside.
Thus we could await a pull back before selling EURUSD again to next level of support.
GBPUSD has broken several support zones and a rising structure this week with a bearish closing candle, thus we believe there is further downside to be continued this week.
Await a retracement to sell GBPUSD to next immediate levels of support seen at
1.2210 - 1.2285.
AUDUSD fell sharply after a completion of a cypher pattern, finding resistance at 78.8%.
Price has retraced back to the neckline, which is also a zone of support and resistance.
As price has been resisted at this level, we expect price to continue falling back to previous low at around 0.6800.
USDCAD found support at the zone of previous channel breakout, and has begun a retracement. Price managed to close above a supply zone, and has retested finding support.
As price managed to close above the supply zone before market closing, we could expect further upside this week.
Await pullbacks to buy USDCAD till the next immediate resistance seen at 1.3730 - 1.3800.
EURUSD finally found support near the top of previous high after an uptrend lasting almost a month.
With such a large movement upwards, we could expect price to retrace lower before finding a direction again.
This week, we could await short pullbacks to sell EURUSD, or conversely, await price to find support at previous demand zones before buying EURUSD again.
EURUSD has been ranging at the bottom of it's consolidation pattern this week after a sharp fall downwards.
Price is still unable to form lower lows, signifying that price may reverse at current support.
This week, should price remain supported, we would look to buy again at the demand zone.
USDCAD has been slowly climbing upwards this week, before finding resistance at previous supply zone, which is also the top of the consolidation pattern.
Price was unable to drop any further and come back for a retest before market closing.
This week, if price is seen to be resisted at this supply zone, we can look to sell USDCAD again.
USDCAD has been overbought since the oil price war that lead to price shooting up. With oil prices stabilising and recent dollar weakness, USDCAD may continue tumbling this week.
Lower highs have been forming however support at demand zone has not been broken.
This week, we are expecting price to retest the support again. If price manages to break below the...
USDCAD fell back to the bottom of it's consolidation range this week due to Dollar weakness.
However, price found support at previous demand zone and shot right up. Price rose 200 pips even with DXY falling through the week, showing severe cad weakness.
Central bank have become more dovish and have mentioned negative rates, sending the CAD spiraling down.
EURUSD was unable to form lower lows this week, and has found support at previous demand zone.
This is mainly due to the Dollar weakening with extra liquidity being injected into the economy.
Price has been steadily rising after finding support, and is soon arriving at 1.100.
This week, should the price break the 1.100 level, we are expecting further upside till...
USDCAD continued it's downtrend this week, after facing strong resistance at 4 years high.
It broke out of a triangle consolidation pattern downward, finally finding support at previous low.
This is largely due to Dollar weakening and also oil prices stopped falling. OPEC talks have helped as well, with oil supply cuts inbound, however, there are no...