Short term the dollar index looks to be loosing momentum as it approaches a key weekly/daily level. On the daily time frame it has broken this level of 96.60 but has retraced back below within the same week, this time frame is also indicating that bearish divergence in the RSI indicator. On the weekly time frame it can be seen that this levels has held as...
Price action has rejected off of a short term channel trendline indicated on the 4 hourly chart, the daily chart is showing that price is finding resistance at the 50 EMA with a small pull back to the downside however, i feel that price action could retest this moving average and test the 1.49000 key level
Unfortunately the short pull back that ii expected from my pervious analysis did not occur, however the long term out look for more bullish movement to the upside still looks possible. Price action has rejected off of the long term channel lower trend line and looks to be making its way to the upside. There are a few key levels to look out for on its way up but...
On the daily chart price action has rejected off a key support and resistance level which so happens to be the 1.82000 handle. Price has reverted back to its 50 EMA, but yet to make contact and reject to indicate potential dynamic support. The RSI on the daily chart is indicating that momentum is slowing down which could suggest that price action could top out at...
This pair is in a long term downwards trend with multiple rejections from a well defined trend line. Price action is currently retracing back towards this trend line, with a sign of momentum loss in the form of a potential RSI divergence. There also could be a wedge or triangle formation forming at the top of this retracement, which will be confirmed if price...
GBP/USD has reached a level of resistance which appears to be quite significant on both the 4 hourly and daily time frames. Price action seems to be following a bullish channel with price action currently residing at the top of said channel. Price action has slightly deviated away from its 50 EMA on the hourly, 4 hourly and daily time frames, indicating that there...
Price action seems to be very over-sold as the RSI graph is currently residing below the 30 level and there is a sharp deviation from the 50 EMA. The recent sharp down trend seems to be caused by the RBA interest rate decision and also the strength of the US dollar due to the FED forecasts and economic data releases. I feel that since this move was fundamentally...
The last Gold set up I posted had broken through the region of resistance i though a potential reversal would occur. Gold had experience a significant bull run due to the coalition government in Italy refused to cut its 2019 budget deficit plans in defiance of senior European Union figures. This saw European stocks sell off and GOLD/EUR rise as traders left the...
It can be seen that price action has broken out of a long term consolidation period where price was trading in a range between 1212 and 1191. Price is see to have broken out of this range and tested the lower level at 1192 level and rejected. Price action had tested this level once more but swiftly rejected resulting in a 4 hourly candle rejecting with a large...
The daily chart is showing that price action is approaching a key level of support/resistance and the 50 EMA which could act as dynamic support. This key level acts more as resistance rather than support, so price action will need to provide some form of price structure that will indicate a potential reversal back towards the upside. The four hourly chart is...
Price action has broken out of a long term bearish channel and formed a corrective flag pattern which has consolidated to the upper trendline of this channel. Considering the strength in the US dollar due to the news surrounding the rate hike last week AUD/USD has shown little movement to the downside with only a bearish corrective wave too account for the dollar...
hitting weekly resistance with a daily reversal candle structure forming at daily and weekly resistance levels. a slight pull back has occurred but it looks to be a corrective wave for a continuation to the downside. There is a minor trendline which may act as support further upwards momentum but once broken price action will look to move towards the next major...
AUD/NZD has approached a key daily support level at 1.06500 showing multiple price rejections on the daily chart with significant swing movements to the upside in previous weeks. Price actions is currently holding at another key daily level at 1.07500 which is also showing to be a key level of support/resistance on the lower time frames such as the hourly chart....
Across the board most of the JPY pairs are showing signs of a potential bullish move, with most testing major levels of support and showing momentum slow down from their recent bear trend. AUD pairs across the board are also showing signs of bullish momentum providing me with even more confidence that this pair is going to see some significant upside movement next...
Over the passed week AUD/USD has been in a relatively strong down trend (similar to most of the dollar related major pairs). I feel that it would be unwise to go against this strong trend however there is some evidence suggesting that there may be a small pull back on the cards for next week. Price action on the smaller times frames are showing signs of momentum...
The daily chart is showing a massive daily rejection at the key level of 0.74000, with a huge bearish candle engulfing its previous two days of trading. There have been multiple daily candle rejections at this level dating back over the past two years and even within the past two weeks. The 50 EMA is showing significant deviation from price action indicating that...
