There's a bullish pin bar candlestick pattern formed on USD/JPY which could potentially lead the price higher in today's London session. The direction of the long term trend is unclear now as the 200 period moving average is totally flat, but over the short term horizon, the price is trending up as the Tenken-sen continues to diverge away from Kijun-sen. Note...
NZD/USD surged after the price bounced from the 0.7798 support level which we covered last Friday. Note that at the time the price hit the support level, the Stochastic indicator, Commodity Channel Index (CCI) and Relative Strength Index (RSI) were showing the price was extremely oversold, which significantly increases the probability of this setup to work. The...
There's a hanging man candlestick pattern in the making on CHF/JPY near to the 200 period moving average which could lead the price lower in today's London session. Ideally we would like to see the candlestick pattern formed right at the 200 period golden moving average which will increase the probability of this setup. If the price closes below the low of the...
There is a false break of the multiple-bar inside bar candlestick pattern on AUD/USD. This false break trapped those buyers who bought at the breakout of this inside bar candlestick pattern which could potentially lead the price lower in today's London session. Note that this false break of the inside bar candlestick pattern also formed at the 200 period golden...
GBP/USD slid lower after the breakdown of the inside bar candlestick pattern that we covered in today's London Session Watch and it has hit our first target. This multiple-bar inside bar candlestick pattern that formed at the 200 period golden moving average and upper band of the Bollinger Band could still lead the price lower in today's New York session. On the...
There's a multiple-bar inside bar candlestick pattern formed on GBP/USD which has started to lead the price lower after the breakdown of the low of the multiple bars inside bar candlestick pattern. This candlestick pattern also formed at the upper band of the Bollinger Band and the 200 period golden moving average which adds fuel to the bears. At 0830 GMT today,...
USD/JPY slid after the bearish engulfing bad candlestick pattern that we covered yesterday. This bearish engulfing bar candlestick pattern could still lead the price lower in today's London session but it might take a breather before proceeding, as the Stochastic indicator and Commodity Channel Index (CCI) are currently in oversold territory. The long term trend...
There's a multiple-bar inside bar candlestick pattern formed on GBP/USD. There are a lot of bars contained within this inside bar candlestick pattern which could lead to a strong breakout or breakdown in today's London session. If the price breaks below the low of the inside bar candlestick pattern, we could potentially have selling opportunities in today's...
EUR/JPY surged higher after the breakout of the inside bar candlestick pattern that we covered last Friday in our New York Session Watch. The short term trend is up as the price remains above the 200 period moving average and the Tenken-sen is still above the Kijun sen. On the flip side, there's a potential decline on EUR/JPY as the Stochastic indicator, Commodity...
Gold is currently consolidating under the 1244.75 resistance level. The consolidation as we can see on the triangle chart pattern is getting tighter and tighter, while the price remains stagnant. The Average True Range (ATR) indicator also shows that the volatility is currently at a very low level which could lead to a huge breakout or breakdown in today's London...
Silver has fallen through the up sloping trend line which could lead the price lower in today's London session. Silver has been in a consolidation for around 1 week and is now breaking out. The long term trend for this market is still down as the price remains below the 200 period golden moving average. The current resistance level is at 17.62 with support at...
There was an inside bar candlestick pattern formed on EUR/USD in today's Asian session which could lead the price lower in today's New York session. Over the shorter term horizon, the trend is flat while the long term trend is still down as the price remains below the 200 period golden moving average. Note that the Stochastic indicator and Commodity Channel Index...
USD/CAD is consolidating and is trading in a tighter range as time passes. The long term trend for USD/CAD is still up as the price remains above the 100 period moving average and the 200 period moving average but over the short term horizon, the trend is flat as we could see through the flat short term moving averages coupled with the flat Tenken-sen and...
NZD/JPY broke the inside bar candlestick pattern in today's London session which could lead the price lower in today's New York session. The price also broke below the previous low and printed a new one on the chart, which shows the sellers are coming into the market. The long term trend is still down as the short term moving averages (10 and 20 period) are still...
After the bullish engulfing candlestick pattern in Golds market, the price continues to surge higher despite the fact that theoscillators are showing overbought conditions. The long term trend is still down as the price remains below the 200 period golden moving average. The volatility in this market continue to increases as we can see through the Average True...
After the breakout of the multiple-bar inside bar candlestick pattern that we covered on Monday, EUR/GBP surged higher and continues to build up its strength since the breakout. There's a bullish engulfing bar candlestick pattern in the making. If it closes at the current price or just above the previous candles' high, we will officially have a bullish engulfing...
There's a multiple-bar inside bar candlestick pattern formed under the 1.2675 resistance level. Then we have a pin bar candlestick pattern that caused a false break of the inside bar pattern. This false break trapped those breakout traders and this bearish candlestick pattern could lead price lower in today's London session. Ideally we would prefer the pin bar...
There is a multiple-bar inside bar candlestick pattern formed under the 1.2675 resistance level. A breakdown of the low of the inside bar candlestick pattern could potentially lead the price lower in today's New York session. Note that the volatility is getting higher as shown by the Average True Range (ATR) indicator, which is good for a breakdown of this inside...