Price is moving within a bullish channel, which is itself situated inside a bigger bullish structure.
The most recent price action appears to be a consolidation within the uptrend.
Price may possibly be setting up for another impulsive move towards the top of structure for a 3rd test.
If you agree with this analysis, look for a trade that meets your strategy rules.
Price has found resistance at a price of 2.1000 for a number of days.
Mondays large bearish candle suggests that the price is still finding a ceiling at that price point.
This means that we could see some further selling.
If you agree with this analysis, look for a trading opportunity that meets your strategy rules.
Price is bullish but has entered an area of resistance where price last rejected back in December 2024.
Look for price to reject and change in cycle on the smaller time frames.
If you agree with this analysis, look for a trade that meets your strategy rules.
Price is bullish on the daily time frame.
After 4 consecutive bullish days, price printed a bearish inside candle on Friday.
This could potentially be the start of a correction back towards the moving averages and possibly towards the first Fibonacci retracement levels (38.2% and 50%).
If you agree with this analysis, look for a trade that meets your strategy rules.
Price has been testing support at 1.09400 for a number of days.
Failure to break lower could mean buyers step in and a possible range playing out with a potential target of 1.1180
If you agree with this analysis, look for a trade that meets your strategy rules.
Price has broken below the daily trendline, where it found support on four separate occasions.
When retesting the trendline last week, price appeared to reject with 2 consecutive 4 hour bearish candles.
If you agree with this analysis then look for a sell setup that meets your strategy rules.
As we can see, price was printing lower highs from mid April this year, and at the same time, was getting squeezed into the 1.8850 level.
With the buyers defending 1.8850 successfully, it was just a matter of time before either resistance or support was breached.
In June we saw a break to the upside and the trendline tested for several days before buyers took...
Buyers are in charge of the market on the daily timeframe, however the MACD has printed a lower high when price has printed a higher high.
This is a potential sign of the buyers losing their strength and we may see some selling come in.
If you agree with the analysis, look for opportunities to trade that meet your own strategy rules and always use good risk management.
Last week, we saw price close at weekly resistance (resistance from October 2024).
We may see a similar reaction as we move into a new trading week.
The H1 chart could give us our first clues with an early change of cycle.
If you agree with the analysis, look for opportunities to trade that meet your own strategy rules and always use good risk management.
Zooming out, we can see that price is being dominated by the sellers as price moves within a bearish channel.
The most recent price action is printing in the shape of a triangle which can often be a correction pattern in a trending market.
Look for price to test the top of the triangle and see if it reverses (or we could potentially see a false break).
Then...
We can see clear daily support and resistance levels at 2.0550 and 2.1000 respectively.
Inside of this range we can see that price has broken below another level of support at 2.0800
If you agree with the analysis, look for pullbacks and sell setups that meet your strategy rules.
Maybe a final target of 2.0550 could be an option?
Always trade with a proven,...
USD/CAD H4
Momentum is to the downside on the 4 hour chart.
However, with higher lows on the MACD, look for price to pullback to the trendline in the new trading week and potentially to break above.
Always trade with a tested and profitable strategy alongside good risk management.
The price of Gold against the US Dollar is bullish on the bigger time frame.
Diving into the 8 hour chart, we see that price was correcting in the form of a triangle with a breakout in the early part of this month.
With price retesting the top of the triangle, we may see a rejection and further move to the upside. Watch out for a false break though.
This is an...
Price found a bottom around mid May and now printing higher highs and lows.
Whilst price is above the trendline, the sentiment is bullish with a possible target of 1.1530 which was previous resistance in April.
This is an idea of what may happen. Always trade with a profitable strategy and good risk management.
With 3 previous rejections of $32.80 over the back end of May, we saw a glimpse of a 4th at the close of play last Friday.
There is a potential for buys if you agree with this analysis and it meets your strategy rules.
GBP/JPY daily price action has been moving in a descending channel since November 2024.
This month, we have seen price enter the 196.000 zone at the top of the channel. What's also noticeable is the double rejection that has printed.
Here, it's possible that we could see a break down in price and a change of cycle IF we have reached a top again.
However, if we...
The downtrend which started earlier this month came to an end last week after a low at 103.008
Since then, we have seen higher highs and higher lows as the buyers come into the market.
Look for pullbacks and buy setups that meet your strategy rules if you agree with this analysis.
Price reached H4 resistance at the close of last weeks trading.
Now it's maybe time to sit out of any new trades until the market shows its hand.
Rejection and sell setup or breakout and buy setup?
Always trade with a profitable strategy and good risk management.
