Is pineapple power ready to break out of the triangle it has been in the past 2 month's? The 0.0725 works as a great support, it has been tested a lot of times, 5 and 10 sma ready to cross on the 4hour chart. Ready to see 0.10p again?
It's a very busy week ahead with a lot of important news for both the EUR and USD so that creates a great uncertainty about where the price may moves.
On the chart above we can see a Head and Shoulders formation (it's to hard to use the tradingview tool to create one it took me ages lol) and after that a great bull run to our 0.786 fib level. The price...
Using the elliot wave theory (1,2,3,4,5) we can see the price sky rocketing but now the corrective wave (A,B,C) is about to begin. Stoch is showing the price overbought.
Cup and handle is forming on the 1h and 4h chart. However, on the 4h chart is more V-shaped which is a nice sign of reversal.
Also, the 20&200 EMA crossed after the cup was formed. That could mean 2 things, either the formation of a "death cross" which signals a bearish run or in our case because we have confirmation of the cup and handle formation the "golden...
Possible regular divergence? Price making a hh while the oscillator making a hl. Also on the 4h chart the divergence is still there and the stoch is shown that the price is being a overbought for a while now.
As we can see the price has tested 3 times a major resistance without being able to break it. A HH was made in the chart when our indicator at the same time was making a LH which signals a regular Divergence. 1.900 has served as a strong support with a couple of fakeouts.
NZDUSD has been in an uptrend since march but it has been going sideways for the past few days according to the 4h chart. Waiting to break the current resistance before going long again. Resistance matches the 0.618 fib level.
Descenting triangle formation on both the 1h and 4h charts. The bottom of the triangle matches the 0 fib level.Waiting for the breakout before entering a trade.
As we can see the price formed an exact same height double top but before that it tested the same 2 more times. It's currently testing the support level at 0 fib level which matches the support found at the 27th of January. More confirmation in needed before proceeding to a trade. It hasn't managed to break the trendline resistance, I am expecting to bounce back...
After forming a double bottom which is a signal of reversal we can see that the price went even higher than expected. Also, by switching to Heikin ashi candles we can see than the current uptrend looks strong, if it breaks though the double top resistance line we are going for the 0.72400. The RSI stays between 60-70 which means that the current trend is strong!
EURGBP has been in a strong downtrend since December. On the 1hour and the 4hour we can see a cup with handle been forming which after a bearish trend signals a reversal IF its succesful. We are waiting for the breakout before proceeding with an order.
We can see that the price broke through the resistance line and using the Elliot Wave theory we can see that we are currently expecting the 4th wave to start. Wave 3 has found now resistance on the 1 fib level and the previous resistance serves now as support which is also the same with 0.236 fib level. We wait for the bounce back and for the fourth wave to finish...
As we can see on the chart gold is a nice bearish trend for last few days. The RSI stays between 40-50 so thats confirms my theory. Using the Keltner indicator we can see that gold the last couple of days is starting to break through and getting lower even faster. Support is the same level as the 0.382 fib retracement. If it breaks though we go for the 1820 zone...
As we can see on the chart a bullish flag was formed earlier and the price flew upwards. RIght now the price in testing the fib level 1. If it breaks we are going for the HH of December. The RSI stays between 40-50 meaning the continuation of the bullish trend but using the Kelter Channel indicator we see that the price is starting to break through the lowest line...
Using the fib tool we can see that the price tested again the 0.786 resistance line and went down. The 0.382 act's a support line and by using the Keltner Channels indicator we can see a breakout coming as the price starts forming an uptrend.
