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GBPNZD has reached to the bottom of the rising channel and is under bullish pressure from the divergence created between the price and MACD. Fibo retracement of 50 & 61.8 coincides with the previous structural support now can be seen as resistance. Price can bounce up to the zone of 1.98 - 2.00 and then turn bearish for the future continuation. GOOD LUCK FOR YOUR...

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GBPUSD bullish scenario is supported by the following factors: 1. It's moving perfectly in the ascending channel. 2. Hidden bullish divergence formed on MACD for the continuation upwards. 3. Break out of the most recent falling trend line within the bullish channel. 4. The next target of 1.2850 is derived from the confluence of Fibo Extn's on the prior impulsive...

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USDCAD is moving downwards perfectly in the bearish channel Following hints are good enough to support the bearish trade idea: 1. MACD is forming a hidden bearish divergence to continue lower. 2. The most recent rising trendline within the bearish channel is broken lower with a successful retest as the resistance. 3. 4 out of the 5 legs impulsive structure are...

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EURGBP is at the critical resistance area around 0.9075 The first impulsive move up is completed followed by the correction. At present, it's creating the second leg up. The Fibo Extn. 100% coincides with the rising channel top at 0.9250 which is the next target once it breaks above 0.9075 and successfully re-tests it as a support. The two possible variations of...

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1. GBPCAD bounced from the falling channel's resistance 2. A weekly close below the critical support & resistance of 1.7250 area 3. Hidden Bearish divergence in play to push it further down 4. Now it's holding the rising trendline support Trade Idea: Sell trade will be triggered on a break of the rising trendline and successful retest as a resistance. Target 1 is...

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The multi-timeframe analysis for DXY shows the short term bounce towards 98.80 before heading lower towards 92. Following is the step by step break down of the analysis from higher to lower TF's: MONTHLY: (1) Bearish due to bounce from the long term down trendline acting as resistance. (2) The bearish divergence comes in play between the leg 3 & leg 5 of the...

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AUDJPY has bounced from the critical support around 72 and the following factors show us upward continuation: 1. Higher highs & Higher Lows 2. Bullish Hidden under formation on 12H chart 3. Bullish Divergence coming in play on 4h chart Action Plan: Buy once it establishes support above 74.50 with the successful re-test, aiming for the first target at 77 followed...

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OIL has started the downward correction and reached around 34.60 which is the Fibo Extn. 1.61 Usually, if the price extends above 100% on Fibo, it's a sign of trend formation; one can expect the pullback and continuation of the move in the same direction. Therefore, I remain bearish for OIL until it closes above the falling trendline and breaks resistance at...

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At present, GOLD is trading above the descending channel. The breakout of the channel is to be validated as support at 1728 for the bulls to stay in the game. Pay Attn.: If it invalidates the breakout and closes inside the descending channel. Trade Plan: I would suggest getting into sell trade if the rising trendline is broken around 1718, let it retest the...

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DXY is rolling downward for the last couple of months. The technical analysis hints for more weakness and bearish target 94.65 1. The price is moving in a descending channel 2. Currently, it's trading below the key resistance of 97.20 3. It may bounce upward for a short term from the Fibo Extn.100% at 95.80 due to oversold condition + bullish divergence coming...

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RIL has completed the 5 legs impulsive structure to the upside and bounced lower from the key resistance area around 1600. Now it's undergoing the short term correction to resume the bullish trend afterward. It may develop 2 possible scenarios for the corrective action: 1. The correction will not be deep enough and could play inside the range for a while to...

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AUDJPY has reached the critical zone of resistance around 76 - 76.50 and has developed the bearish divergence. It gives us the short term opportunity to sell once the support from the most recent up trendline and horizontal level around 75.95 is broken. We can set the sell target around 74.50 which is the next support. The invalidation of this sell trade would...

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The multi-timeframe technical analysis provides the following hints towards an upward target of 1.1500 - 1.1550 MONTHLY: The price bounced up from the support of long term rising trend line with a bullish divergence on MACD WEEKLY: Upside impulse created by the massive bullish divergence between the price structure & MACD 4 HOURLY: Price moved up nicely inside...

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AUDNZD has reached to the top of the channel and needs a retest of 1.0540 I am short term bearish as it is under negative divergence with a bounce lower from the critical resistance. The first level to the downside is 1.06650 followed by 1.0540 Please note that it is a short term bearish idea which will be invalidated if the price breaks above the resistance...

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The bull run in WTI is definitely losing momentum. It is evident from the fact that negative divergence is coming in play between the price structure and MACD, after the 5 legs impulsive movement. Now the price is stuck between the key support at 34.86 and the critical resistance zone from 39.60 to 42.00 above. I have marked the two possible scenarios: 1. The...

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EURGBP completed the 5 legs impulsive structure at 0.9050 Now it's undergoing 3 legs correction to the downside. At present, it's finding support around 0.8880 and once it's broken then the downside targets are: Target 1 : 0.8805 Target 2 : 0.8730

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As the long term downtrend has been paused, let's see how far this stock can be pushed on a short term basis: It bounced from an all-time low of 19.95 to initiate the upward correction. The first push up took it to 32.05 and after retracement, the custom point is created at 25.80 If we measure the Fibo Ext at 100% the target is 37.80 which lies in between the...

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USDMXN has reached the important Fibo Retracement of 50% at 22.20 And on the H4 chart, we can notice the divergence building on MACD histogram in the favor of Bulls. In my opinion, the Bulls have to clear the following tests to take control: 1. At least a close above 23.26 2. Along with the break of the falling trendline