This pair had been a bear trend for a little while! But there is a chance for a bullish run in the coming days! On the lower timeframe, H1, we have an inverted head and shoulder! if this holds then chances this might be a trigger for a bullish run!
The general trend for GBPCHF is bullish and currently, the price is testing a key zone on both Daily and H4 timeframes! Any bullish sentiment/signal on this zone might trigger a bullish run for this pair!
The initial bias was bearish but due to strong fundamental news for the USD, there's a chance that bulls might take a control especially when the price closes above 1.0030! On H4 and Daily timeframes, there is a chance that we might have a head and shoulder pattern! Still watching this pair for more confirmation!
On the weekly timeframe, there is a good possibility that we are going to have a double-top pattern. This is a very common reversal pattern, since this is a higher timeframe it might not unfold quickly but chances for southward moves are there!
Its been almost a year since the price has close above 0.86, and now the price is testing a very strong resistance zone around 0.855 - 0.86 if within this week price fail to close above 0.86 then more bearish moves will be expected for this pair!
CAD has been strong for quite some time now, especially after what happened between Russia (who is one of the top oil producers) and Ukraine! Currently, EURCAD is approaching a strong support level, a level that has been respected since 2015! Bouncing from this support level will mean ranging structure still holds and in the long run 1.58 might be a target!
GBPCHF just like other GBP pairs is heading North! Technically the first stop is 1.3 and if GBP becomes strong fundamentally then 1.5 might be a possible next stop! All in all I am still bullish on this pair!
The overall market structure is a down-trending structure.
After breaking and turning support into resistance, the price is approaching a key resistance zone around 0.86 which align with 61.8 fib level!
Any rejection or reversal pattern on this level on the lower timeframe might push the price southward to a 0.82 price level!
For the past few weeks, eCASH had been under a serious bearish run!
And in the last few weeks ago I published bullish analysis that was only valid if and only if this bearish structure is invalidated and also I publish another long term overview on eCASH (See all the analysis attached below)!
But a few days ago, we've seen signs that indicate bulls are about to...
Shib experienced a strong bull run in the past few weeks, but lately, the bears took the wheel and drive price south-wards hence bearish movement!
Technically price movement is not linear, pullbacks are expected and they are key to the continuation moves!
If everything goes as forecasted then the next destination is the 0.0001 region!
eCASH has been under pressure for some time now, still in the lower time frame structure is bearish (check lower timeframe analysis attached below)! But if bulls managed to take control at least on the lower timeframe then in the long run 0.0003 will be our first destination!
NB: Please check the lower timeframe analysis attached!
Yesterday I posted an analysis on eCASH with bullish bias but today I want to share the same analysis on the lower timeframe (H4)!
Currently, the market is downtrend with a series of LH's and LL's!
If the price closes above the previous LH then that might be a good indication that bulls are about to take over!
Again patient is key, let's see how this turns...