The technical position for USDJPY is constructive. First of all the price has been in a 6 month uptrend (March Low). The recent correction that bottomed at the 200-days simple moving average has probably completed as it took the shape of a head and shoulders continuation pattern in this case. We broke earlier above the neckline of the pattern and extended the...
The price is hitting a key area at a confluence of technical levels. Suggesting there is a good chance of at least a downside reaction. The ceiling of the falling channel that started from January's top. In addition to the horizontal key resistance at 149.30 area. Add to that the 52-week(yearly) simple moving average. Also, this could be a retest to the...
The price has retraced back towards the long term rising channel support, which was broken earlier, and turned to a resistance now. The recent shorter term pullback is taking the shape of an inverted head and shoulders bottom formation. Interestingly, the neckline of the formation coincided with the main broken channel in addition to the 50-days simple moving...
We probably topped near the descending resistance of the falling channel on the weekly, while Stochastic coming off overbought area. The price is also about to complete a small double top formation at that resistance(The pattern will be confirmed only if we close this week below the neckline at 8.2889). As we are approaching the shorter term rising trend line,...
Expecting Oil and Copper divergence to diminish in the coming weeks. Oil to adjust down, and copper to stabilize.
EURUSD is in a very interesting long term position. We are in a pullback to the broken neckline for the triple bottom formation completed Jul 2017. Interestingly, a hammer candle formed last month. Seems like a good possibility we are heading back to the cluster of falling trend lines as a first target. This Bullish resumption scenario is valid so long as 1.1350...
#USDCHF likely to resume downside. Completed double top on weekly earlier, Currently in a throwback tow towards the neckline and the 52-week SMA. Looking for a target near 0.9500 area. #forex
The Three Drives patterns is one of the most powerful setups: Bullish Three Drives pattern: 1)First wave is a normal bearish wave. 2)Followed by first pullback wave (shouldn't exceed 0.9 of 1st bearish wave). 3)Then Second bearish wave that extends beyond the first bearish wave low and reach between 1.27 and 1.618 Fibonacci extension for the first...
Gold is likely to bounce as the price has shown multiple rejections on key support 1305. I expect a retest of 1357 resistance as the price maintain the bullish trend structure as long as 1305-1300 zone is holding. Best Technician
Hello NZDUSD has broken a key support today. Double top formation completed by breaking 0.7280 area. Looking for a deeper downside move. Target and stop areas outlined on chart. Best Technician
It is likely in my view that the GBPCHF and the EURCHF will be some of the best pairs to short in the coming days. Do your own due diligence No guarantees in trading Best Technician
Looking for further downside as outlined on chart. The price has broken the rising trend line and established a new series of lower highs and lower lows. Best Technician
Looking for a downside pullback after hitting Resistance. Looking for a dip towards for now 1.3600-1.3650 zone. Best Technician
Chart self explanatory. Completed a a breakout below neckline for head and shoulders. I am looking for further downside although we might see a small pullback from 1.6630 potential support. Best Technician
The price was rejected at the 1.618 extension on Friday forming a shooting star candle. I am looking for a short term short trade as long as below 136.70. Target at 135.00. Best Technician
Range breakout is clear on chart. The price may have completed the correctional wave at the 50% retracement level . First and second target outlined on chart. Best Technician
Every EURUSD dip was re-bought. The price could be heading to complete the third wave of a potential three drives pattern as illustrated on chart. Buying this for the short term. Will be watching if we reach potential reversal zone around 1.1920-1.1930. Best Technician
Illustrated on chart the key levels for btc/usd. The chances of bullish resumption remains high as long as we remain in bullish zone, with upside targets outlined on chart. If we break below to neutral zone i would be very cautious to long again, unless we get back to bullish zone. A break to the bearish zone would be seriously bearish and more to come. Note:...