USDCAD has broken out of a multi-month channel and looks like a nice opportunity to go long. After breaking out it has retraced forming a bull flag pattern on support from fib, moving average and broken trendline. Oversold Stochastic RSI is bullish. Strong NFP/jobs data from the US support a rate hike this month, and combined with weaker data from Canada look for ...
After last week's massive sell-off, the NZD/USD should see some retracement before continuing the current downtrend. It has found some support on the daily chart and looks like there could be a rebound to the .717 area. There is a strong resistance area due to previous trendline/structure, fibonacci, and moving average resistance. Watch for price action to bounce ...
A descending triangle pattern has been forming on the NZD/USD 4 hr chart. The highs have continually gotten lower and the base of the triangle has been acting as strong support. For a potential short opportunity, watch for a break in the base of the triangle and a retracement back to test the base for resistance. In an ideal descending triangle, the target range ...
There is a potential head and shoulder pattern forming nicely on the 4hr chart. For confirmation of a short, look for a break of the neckline of the pattern and a retracement back to the neckline (now resistance) before entering.
The overall recent trend of USD/CAD has been bullish, but we could be seeing a retracement to fibonacci support levels from the recent ...
NZD/USD may be slowing down its momentum and could provide a nice opportunity for a quick trade.
-Pin candle formation at resisitance/swing high on 1H chart
-Pin candle formation on daily chart
-Stochastic RSI about to cross in overbought territory
-MACD bearish divergence
-RSI bearish divergence
USD/JPY is nearing a zone that could provide a good short opportunity
-Price action is approaching resistance from a multi-month trend line that goes back to February.
-As shown on the chart, there a previous structure zone where support turned into resistance.
-The MACD and RSI is showing bearish divergence, with both reaching lower highs while price action hit ...
-NZDUSD is currently forming a bull flag pattern
-The potential bottom of the flag found moving average, trendline, and Fib support
-Stochastic RSI is in oversold territory and may soon cross over
-With the poor non-farm payrolls report, and dovish tone from the FED, there may be a bearish outlook on USD since a June rate hike is probably no longer on the ...
- EUR/USD has been contained in a multi-month channel, and is now approaching the bottom of the channel
- There is divergence on the RSI where PA is making lower highs/lower lows and RSI is making higher highs/higher lows
- There is also divergence on the MACD, where PA is making lower lows while the MACD higher lows
- Bullish MACD crossover
These factors give a ...
-GBP/CHF is nearing the top of a multi-month channel, and could be a good short opportunity.
-Beginning to see some bearish divergence on the RSI near overbought territory
-Before entering this trade, I am looking for a break of the green trend line and waiting to sell the pullback