BTC has reached an important level. If we close under a support below 45,000 on a daily chart, testing at the 42,000 level is likely to follow. I also do not rule out a level of 38,000 if this outflow accelerates. RSI and Awesome indicators also project a more bearish picture.
ETH/USD 4h chart. The price is at the bottom of the wedge pattern, its a great Risk-Reward trade for the week. Take profit around $400, at a strong resistance. Also, $400 is a psychological level as well, so I wouldn’t put the target price above this week.
CHF/JPY 4h chart. The price is currently testing a key level and the wedge pattern that broke through last week. For us, this means a great Risk-Reward trade in the short direction, as there is room for the price to fall.
USD / CHF 4h chart. The price bounced from a rising trend line, but now it has started to sideline around a stronger resistance. If the zone marked in red is broken by the price, we can open a long trade with a good risk-reward ratio.
NZD/USD 4h chart. The price is at the bottom of the wedge pattern. Bounce is also possible, but once the bottom line is broken, there is a great opportunity for a short trade. Important rule! Open the trade only if the purple line is already broken!
EUR/GBP 4h chart. Descending triangle pattern, the breakout is due in the short direction. The next strong level is far away, there is room for a fall in the price. Great Risk-Reward ratio, I'm expecting a big boost this week.
AUD/USD 4h chart. The price is bouncing on a trend line, after the big run on Friday. I'm expect a correction/ bounce movement. In addition to a great Risk-Reward ratio, RSI is also in the oversold zone, which favors short trade ideas.
On the NZD/CAD comes an another oppotunity. Wedge pattern on a daily chart,the nearest key level is far enough for a great Risk-Reward ratio. After a little correction, i think this is a high probability trade.
Great long opportunity for the week on the GBP/NZD pair. After the breakout of the double bottom pattern at the last week, I think there will be a retest till the neckline. After that there is a great opportunity to trade in the Long direction.
I see several swing trade opportunities this week, this is one of them. On the GBP/USD pair, the price bounced at a strong key level, which also coincided with the EMA 200. Currently, a great risk-reward trade is opening up in the short direction. There is also a key level between our target price and the current exchange rate. When the price reach this level, set...
After a little summer hiatus, I came back with weekly analyzes. One of the best options are on the AUDCAD pair. Almost every timeframe is overbought by the RSI, and the price is dancing around a strong resistance level. A correction is expected, which provides us with excellent Risk-Reward trade.
If the 0.9636 level broke, open a short trade.
I see intraday trading opportunity on AUD/USD. The 4H chart divergent, the hourly trend line seems to be breaking, which promises us a great Risk-Reward ratio. The next strong level is around the 4-hour trend line, which can be our target price.
On the GBP/USD comes an another oppotunity. Engulfing pattern on a daily chart, RSI is not overbought anymore, the nearest key level is far enough for a great Risk-Reward ratio. This idea is similar to the USD/CHF and the EUR/USD pair. If you want to trade the dollar strengthening on every chart, beware of cumulative risk!