Bullish Indicators: 1) Support zone at 1.84164 Bearish Indicators: 1) LH LL 2) Resistance zone at 1.85595 3) Downward trend Plan A: One can take ling position on the bounce from the support zone at 1.84164. Plan B: One can take short position if pair fail to break the resistance zone or upward descending trendline.
HTF analysis shows a very nice inverse head and shoulders pattern with the neckline recently broken. A huge upside potential is possible and this seems to be the perfect trade for swing traders and position traders alike. Good Luck!
Bullish Indicators: Support zone at 0.90940 Bearish Indicators: Resistance zone at 0.92023 Fib level 38.20% Plan A: One can take long position on the breaking of resistance zone at 0.92023 for the target of 0.92689 and 0.93163. Plan B: On the breaking of support zone at 0.90940 one can take short position for the target of 0.90658.
Likely to complete its retracement between 18-16 region. This is where healthy demand is likely to step in and establish targets towards 26-28 initially followed by 30-32. However if DYDX manages to break below 16 then we are likely to see 14 followed by 13 as next major supports.
EURAUD - Good trade in the making if you're looking for some quick pips. Descending Trendline has been broken and EURAUD is now trading above an important support (1.56450)
USDCAD is moving in a descending parallel channel, now testing a fib level support area around 1.23700. A possible upside movement can be seen towards 1.24800.
Short on a break below 0.182 with the stops at 0.187 for the targets of 0.177 and 0.172.
Buyers are in control above an ascending trend line support at 0.10. Expect bullish momentum to continue with the target of 0.156.
The price tested trend line support at 23.70 and bounced. To keep the bullish momentum continue buyers need to crack and move above 28.30 for the targets of 32.25 and 36.25.
Bullish Indicators: 1) Double bottom 2) Support at 1.43192 Bearish Indicators: 1) LH LL 2) Downward Trend 3) Resistance zone at 1.44406 and the upward trendline. Plan A: After making double bottom one can take a long position from here or on the breaking of upward trendline for the target of 1.46223 Plan B: On the failure of breaking of upward trendline and...
Bullish Indicators: 1) HH HL 2) Upward trend 3) Support at 84.074 Bearish Indicators: 1) Evening star 2) Resistance zone at 84.719 Plan: After making evening star on 4H one can take a short position from here for the target of 82.768.
Bullish Indicators: 1) HH HL 2) Upward trend 3) Support at 89.698 Bearish Indicators: 1) Bearish inside bar 2) Resistance zone at 92.670 3) Bearish divergence on RSI 4) Breaking of lower trendline Plan: After making bearish inside bar and bearish divergence on RSI one can take a short position from here for the target of 89.698.
RAYUSDT Price escaping the falling wedge pattern. Establishing upside towards 11.00 initially followed by 13.7. Sustaining above 13.7 would open 16.40 once again followed by New All-Time Highs for RAY. On the downside 8.25 will act as a firm bottom.
AUDJPY's current upward surge needs a bit of correction as it has just reached a strong resistance area around 84.200. If we see in terms of harmonic patterns, we can see the formation of point D at the price reversal zone. So, at this confluence point, we can expect a corrective move towards 82.80 (Fib level 61.80%).
GBP/USD's rebound from 1.3410 resumes after breaking the temporary top at 1.3670. Intraday bias seems to be back to the upside. Sustained trading above 1.3717 will target 1.3912 key structural resistance next. On the downside, however, a break of 1.3565 minor support suggests that a rebound from 1.3410 had been completed and the fall is ready to resume.
XAUUSD - After impulsively moving up yesterday and breaking through an important zone of 1780, Gold is currently consolidating and we are expecting a retest of the zone where the confluence of an ascending trendline is also present. Keeping things simple is the key to profits in Forex. Good luck!
Bullish Indicators: 1) HH HL 2) Support zone at 1.05491 Fib level 50.00% 3) Uptrend/Ascending channel Bearish Indicators: 1) Resistance zone at 1.06132 Fib level 61.80% 2) Breaking of lower trendline Plan A: One can take a long position on the bounce from the support level 1.05491 Fib level 50.00%. Plan B: One can take a short position on the breaking of lower...
USD/JPY witnessed some selling and the 4-day winning streak finally ended. A cautious market mood benefited the safe-haven JPY and exerted some downward pressure. Technically weekly, daily and 4H all indicate resistance. Consequently, between 114 and 113.71. It can test immediate support area around 112.70.