MTForexBook

MTForexBook

We’ve got two pretty tight potential support/resistance lines looking back at past reaction points. I’m inclined to think it might want to break up to the higher line before falling to hopefully retest the untested line as marked on the chart. We also have slightly overbought conditions. It could become more overbought.

MTForexBook

NZDJPY has become overbought on the 1D, has reached a clear resistance point (currently hanging above). It never, in my mind, fully retested the support/resistance line below. So, I’d possibly look for a “crash” down to that lvl.

MTForexBook

We have reached a clear support/resistance line on the 1D.

MTForexBook

We had to back out to the 1D to get a more clear picture. We have an ascending trend line with numerous reactions. We have come down to that point as well as being oversold on the RSI. If this dips below, I’d want to see it come back to test before heading further down. Or, it could easily reverse to head back up.

MTForexBook

We needed to back to a 1D view to get a better sense of potential direction. We’ve got an ascending trend line that has 4 key areas of reaction. We are reaching the oversold mark on RSI. I do believe it could become a little more oversold to each this line. At which point, there will either be a reversal to head back up or we could dip below and backtest.

MTForexBook

We've got a potential retest of the ascending trend line. We didn't retest this strong support/resistance line when we broke though. Thus, a retest before moving higher is likely; not guaranteed but likely.

MTForexBook

With being slightly overbought and coming up to the weekly resistance line (without having retested this line), I would like to see this come back down to test before going further up.

MTForexBook

Pair is extremely overbought on the 4H and jumping just above a descending trend line. This is a potential sell if we get a pretty impulsive movement down on the next 1-2 4H candles.

MTForexBook Updated 

We are coming up to a clear resistance from Feb 2020. There will likely be a reaction at this point. If we break above, I’d wait for a retest of said line before taking a buy position.

MTForexBook Updated 

We broke above a clear support/resistance line. Before taking a buy, I’d let it retest and confirm. We’ve seen in two previous instances, on this same line, where it broke above only to fail quickly after.

MTForexBook

We are at a key support line. I’d wait until we get a higher timeframe (4H) confirmation of a push up before taking a buy position.

MTForexBook Updated 

This is a POTENTIAL H&S. I am expecting at least a pull back to the support/resistance line shown as it was never retested when we broke above, on either the 4H or the 1H.

MTForexBook

EURJPY is backtesting this pretty steep ascending trend line. It did not retest the reaction zone noted on the chart on either the 1H or the 4H. I would expect it to come back to retest after this giant move up.

MTForexBook

We broke a pretty obvious support/resistance line late last week. We did not retest on either the 4H or the 1H. So, I expect us to at least come down and test this horizontal line or break back through.

MTForexBook

We’ve reached the descending trend line on CADJPY again. Pay attention to the next closing bar, if we are to head lower. Or, a move up and retest if we are to move to the higher horizontal trend line.

MTForexBook

AUDUSD has played with this marked support/resistance line since back to Feb 2020. We are currently heading towards the descending trend line and that primary support/resistance line. The next few candles could be a good indication of direction for this week.

MTForexBook

I'm anticipating this pair coming up to the descending trend line which is also the point of a support/resistance zone and then traveling back down to the bottom support/resistance zone shown on chart. A smaller timeframe view may be needed to capture the best sell position.

MTForexBook

AUDCHF looks like it may try recovering above the support/resistance line. I would like to see it break above this minor descending trend line, retest and head back up. If the following candle closes red, this might be the continuation downward toward the 78/100 retracement zone. So, pay attention to the next two closing 4H candles for a good indication of direction.