Price has rejected daily resistance at 1.8450 after NZD had a huge sell off last week. With the Kiwi sellers potentially running out of steam, this could be a good opportunity to short EUR/NZD.
Price is moving within a bearish channel. At the close of last week, price was retesting the broken 0.8840 level. Watch price how reacts here. There is potential for further downside. However, a daily close back above would suggest a false break.
CAD/JPY has broken out and closed below a weekly triangle after JPY strength was dominant in the market all of last week. After such a big move, a correction would be expected in the YEN pairs, presuming that the downward trend will continue. CAD/JPY could pull back to test the broken triangle before turning back around again. A weekly close back inside the...
Price action is currently moving within a daily channel and has rejected resistance for a third time. Look for sell opportunities with a potential for price to drop to test the bottom of the channel again.
Price appears to have broken/retested and rejected 157.65 with the Japanese Yen being one of the strongest currencies at time of writing. There is potential here for price to continue lower this week to 157.80. With the daily candle still forming though, lots can change until we get the daily close.
The 2 day chart shows a 'Shooting Star' candle at resistance followed by a candle with a lower low and lower close. Price may now continue to push lower to the immediate bullish trendline around 1.28 and then further to the bottom of the structure shown in our image around the 1.25 zone.
Gold has now had a 3rd touch of the resistance trend line where we could see a reversal occur. So far, todays candle is looking bearish. Looking for sell setups could be a wise move now.
Gold buyers were totally in control at the end of last weeks trading. One price point to watch is around 2392 where we saw buyers step in on Friday. We might see some similar tests of this zone like we did at 2352 earlier this month. Let's see how it plays out this week.
Since rejecting major resistance at 0.9200, price has been steadily declining within the bearish channel shown in our chart. The next stop could be the previous swing low at 0.8840 with further downside momentum taking price to the base of the channel and at previous support around the 0.8750 zone.
Price is clearly moving in an uptrend and has pulled back to the 20EMA (blue line) with a bearish close. There is potential for price to find support here and buyers to start entering the market again with a view to creating a higher high in the trend.
Price has produced a text book break and retest of the the 0.6600 zone with a strong bearish candle on the final day of trading last week. There is potential for more downside in the new week.
Gold has now made a bullish break out from the triangle. Something to also note is the retest and bullish engulfing candle, cementing the move. There is potential for further upside in the new trading week. Look for setups that meet you strategy rules.
Gold is moving within a daily triangle and has been consolidating within 4 hour support at $2319.22 and 4 hour resistance at $2334.37
Todays London session has seen price break to the upside and if it it closes outside of the range, could lead to more upside testing the top of the triangle.
We may be seeing a change of cycle on this pair with a potential lower high being formed after price rejected the 61.8% retracement. A break of Fridays low could signal further downside.
Since printing a daily swing low at 1.0750 earlier this month, the buyers have been steadily pushing price higher. Resistance was found at 1.0885 for several days until breaking through last week. There may be a pullback/retest/rejection and a long setup on the cards in the new trading week.
Price has broken support at 1.9110 and has the potential to reject the zone and push down to test the next support level at 1.8900. If price closes back above 1.9110 on the daily, then we may be seeing a false break.
The 160 price point proved to be too much for the buyers at the end of April this year. The end of last week closed 17 pips shy of the big number. Will we see a reversal like we did when price tested and rejected the 152 wick high?
The MACD has produced a lower high when price has produced a higher high indicating a potential reversal is in sight. Check out what happened over December 2023 and January 2024 when there was a similar situation. Wait for the breakout before considering any sells as the market sentiment can change.
