Price is in a strong bullish trend.
After 6 bullish candles, we may now see a correction back towards the moving averages as profit taking occurs.
This is just an idea of what may happen. Always trade with a profitable strategy and good risk management.
Friday saw price attempt to break the 1.5800 zone for a second since March.
However with a failure to break and close above, a break below the days low of 1.5640 could see price continue lower towards the most recent support at 1.5400.
This is just an idea of what may happen. You should always trade with a well tested and profitable trading strategy using good...
Strong buying came into play at the $29 supply/support zone which we last saw tested and rejected twice back in December 2024.
After a brief pause at $31 on Thursday, buyers took price to a high of the week at $32.27
It's possible that we might see a pullback and correction, testing $31 which was support in February this year.
This is just an idea of what may...
Price is testing support for the 3rd time (last tested and rejected in late 2024 and February 2025)
This MAY now lead to opportunities to buy if we see a bullish setup or bullish impulse and correction.
A break and close below support would invalidate this idea.
This is just an idea of what could happen. You should always trade with a well tested and profitable...
We can see a huge weekly candle (circa 500 pips) as sellers took price all the way down to sub 0.8600 last week.
Looking back over the years, 0.8600 has been a huge demand zone for this pair.
This may now lead to opportunities to buy on the smaller time frames.
This is just an idea of what may happen. You should always trade with a well tested and profitable...
President Trumps recent tariff announcements have shook the market with some huge moves and a USD sell off.
The weekly USD/CHF chart shows the huge bearish sentiment of the Dollar market last week.
We may see some pullback/correction now in the market, with a potential for price to then continue down to 0.8400 which has proved to be a strong demand zone.
This...
Price is moving within an ascending channel with price now testing support.
Look for potential buy setups after a change of sentiment on the smaller time frames if this meets your strategy rules.
This is an idea of what may happen. You should always trade with a well tested and profitable trading strategy using good risk management.
Price has closed below the CTL (counter trendline) on the final day of trading last week.
The current bearish trend started in February and has most recently been in a potential corrective pattern where it retested and rejected 0.6200
We may now see a push from the sellers back towards major support at 0.6060 unless the current break below the CTL is a false...
The daily chart shows price is making higher highs and higher lows since price bottomed out at circa 187.00 in February this year.
The moving averages are bullish with angle and separation showing a strong trend.
With price back at the 8 EMA (black line), we may see a change of sentiment on the smaller time frames if it acts as support.
Failing that, we could...
After printing a double bottom circa 155.50 in February, price has seen a steady move to the upside.
Price appears to be currently correcting.
Look for a break to the upside and a potential long trade (if it meets your strategy rules) into 164.50 which was resistance in December 2024.
Gold well and truly smashed through the $3000 barrier this week, peaking at around $3057 per troy ounce.
Looking at the 4 hour chart, we may see one more impulse of buying after the current corrective move. This correction may head towards the 38.2%/50%/or 61.8% Fib retracement levels (if you use them in your trading).
If we do see another bullish impulse then...
There is a lack of trend in the current AUD/USD price action.
Instead, price appears to be moving within a range from 0.6200 to 0.6400
In the centre of the range is a daily support of 0.6277 which price closed below on Friday.
Potentially, this could now mean further downside towards the bottom of the range.
Price is back at daily support (tested and rejected in December 2024 and most recently March 2025).
Tuesdays daily candle saw a bearish close at the level. If price breaks the high on Wednesday, we could see 0.8850 tested again.
From there, price could reject (again) or push higher.
The upcoming FOMC statement could change everything though.
At the end of last week, USD/CAD sat at current 4 hour support at 1.4360
A reversal pattern here next week could lead to a long trade targeting 1.4445 which was the most recent 4 hour resistance.
However, a 4 hour close below 1.43600 could lead to sells with a potential target of 1.4286
The bullish weekly trend for EUR/NZD continues but have the buyers run out of steam for now?
Examining the weekly price action. we see that after 2 weeks of strong buying, the last week ended in a Shooting Star candle (also known as a pin candle).
This may be a sign that buying pressure has decreased and a natural pullback/correction is now in play.
Watch for...
With price now hitting previous resistance at 1.0940, we may now start to see a correction in the market after the latest 500+ pip move from the bulls.
Watch for a change of cycle on smaller time frames.
With a strong weakening of the US Dollar, EUR/USD has changed it's bearish trajectory.
The low of the bear move occurred on 13th January 2025 when price printed a Hammer candle/pin candle.
We have since seen a gradual push from the buyers until last week when we witnessed strong, impulsive moves breaking and closing above 1.0600 resistance.
We may now see a...
Since testing and rejecting the demand zone at 1.1170 for a second time, we have seen price gradually descend back towards the rising trendline.
Thursdays price action saw a close below the trendline and a possible push from the sellers to test the water.
Friday saw buyers back in play but price still closed below the broken trendline.
Retest of the trendline...
