Candlestick_OB

Candlestick_OB Updated 

Gold has successfully broken out of its consolidation phase with a strong bullish engulfing candle that engulfed the last 11 days of trading. Now, with this strong upward move, it is expected that the price may retrace slightly to gather some liquidity before continuing its ascent. As for me, I will be waiting for the price to test the trendline slightly below it...

Candlestick_OB Updated 

CADJPY is possibly correcting and might retest the 100 moving average, Fibonacci level of 61.8%, and the convergence of two local trends before resuming its downward movement. Share your thoughts in the comments and show support by liking the idea. For more ideas, follow me. Your support is appreciated!

Candlestick_OB Updated 

The AUDUSD pair has reached a support level, with a divergence appearing on momentum indicators. This could lead to a corrective movement, with a retest of the channel it escaped from, the 100 and 200 moving averages for the 4-hour timeframe, and the Fibonacci level of 38.20% around 0.66630. The price is then expected to drop towards 0.6550. Please share your...

Candlestick_OB Updated 

TVC:USOIL After the significant gap caused by the news of a production cut of about 1.5 million barrels, the market is now starting to close this gap located between 79.3 and 75.2. It's worth noting that the level of 75.50 to 76 aligns with the 50-day moving average for the daily timeframe, which also needs to be retested by the price.

Candlestick_OB

AUDUSD has been trading below its 100-day and 200-day moving averages, indicating bearish pressure. However, it has recently broken out of bearish flag pattern. But its currently facing a strong support level as seen on the daily chart: Upon analyzing the 4-hour chart, we can predict a potential rebound from the current support level to retest the previous...

Candlestick_OB Updated 

On the long-term, the AUDUSD pair is moving sideways, meaning there is no trend to follow. However, on the short-term (hourly and 4-hour frames), traders can benefit from these sideways movements by identifying local trends and support and resistance levels. Looking at the hourly frame, we can see that the price is trading below the 100 and 200 daily moving...

Candlestick_OB

The CHFJPY pair has reached a strong resistance zone and is now forming a flag pattern with a clear divergence on momentum indicators. It has also formed a double top pattern, waiting for a breakout of the pattern to the downside and a breakout of the uptrend line to confirm a good selling...

Candlestick_OB

The AUDJPY currency pair has rebounded after touching a yearly ascending trendline on the weekly chart. Current indicators suggest that the uptrend is still intact, but a price level of 91.10 must be surpassed for confirmation. On the 4-hour chart, the price is moving above the 100 and 200 moving averages and forming higher peaks within an ascending channel. The...

Candlestick_OB Updated 

The Gold might be at a good selling point because it is retesting the new upper boundary of the price channel and the recently broken weekly trendline. This area holds significant resistance as there is a Fibonacci level of 38.2 and a confluence of the 50, 100, and 200 moving averages for the hourly frame. If the price rises and breaks above the 100 (blue) and 200...

Candlestick_OB Updated 

The AUDJPY pair has successfully broken through the 0.90 resistance level, but with decreasing momentum as indicated by the oscillators. Additionally, reversal candles have started to appear, and the price has touched the daily 100 moving average. If the price does not continue to rise and responds to the previous indications, we may have to wait for a bearish...

Candlestick_OB

The GBPUSD pair has formed a double top pattern, with divergence on momentum indicators, and is now completing a head and shoulders pattern. To confirm the start of a bearish trend, I will wait for the price to break below the neckline at 1.2350. However, I will likely wait for the price to bounce off support levels and re-enter slightly above the neckline (around...

Candlestick_OB

The USDCAD ended its downtrend by breaking the downward trend line since March and the resistance level around 1.342, as well as the 100 and 200 moving averages on the hourly timeframe. Since this pair tends to move within price channels, it can be said that the price is now heading towards a third peak in the local upward price channel at the level of 1.347/49....

Candlestick_OB

The USDJPY pair has started to form higher highs, indicating a short-term uptrend. This is further supported by the price moving above the 100 and 200 moving averages on the 4-hour timeframe, as well as the 100 moving average on the daily timeframe. Currently, the price has reached the upper edge of the upward channel and has shown reversal candles. We are waiting...

Candlestick_OB Updated 

The EURUSD has successfully broken the yearly support level of 1.087 on both weekly and monthly charts, as well as the yearly uptrend line from 2016 to 2020, and surpassed the 50% Fibonacci level that extended from June 2021 to September 2022. These are indications that the overall trend is leaning towards an upward direction. However, the possibility of a fake...

Candlestick_OB

The USDCHF pair has broken out of a 7-month downtrend channel, indicating a potential shift towards an uptrend. This breakout is confirmed by breaking through two resistance levels: the March 2023 resistance level of 147.550 and the November 2022 resistance level of 148.850. On the 4-hour chart, the price has reached 149.550 and is forming a double top pattern...

Candlestick_OB

The GBPUSD has experienced a rapid decline from the upper edge of the ascending price channel to the lower edge, where it settled at 1.24128. It is also currently above the weekly support line, Fibonacci level of 38.20%, and a rising trendline. Additionally, the price is only 20 pips above the 100-period moving average for the 4-hour timeframe. It is expected...

Candlestick_OB Updated 

The GBPUSD has reached the upper edge of the upward price channel, showing rejection from above and overbought conditions on momentum indicators. I expect the price to retest the local resistance at 1.23953, which is also where a rising trendline meets a weekly resistance level and the 23.6% Fibonacci level. I will not challenge the trend and will wait for a...

Candlestick_OB Updated 

Gold broke out of a bullish flag pattern targeting $2026. However, profit-taking and the need for liquidity may push it to $2060. I suggest buying between $1996-$1980, which has many support levels. If the price rises before correcting past $2030, it may continue to rise without...