EURUSD has broken our long term ascending support along with falling below our ichimoku cloud. These are all strong signs of a potential drop from here. However, we're seeing major support at 1.2230 which is our 38.2% Fibonacci retracement, 50% Fibonacci retracement, 100% Extension and horizontal swing low support. This level would need to be broken to trigger a...
GBPUSD is being squeezed in a triangle formation. When such a pattern occurs, it usually means there'll be a strong acceleration in the direction of the break out. Our 1st major level of resistance is at 1.4135 which is a 61.8% Fibonacci retracement and horizontal swing high resistance level. Our major level of support is at 1.3766 which is a long term 23.6%...
USDCAD is testing major support at 1.2636 which is a fibonacci retracement, extension and overlap support level. We can see good price action at that area too. What is nice to see is that multiple RSI bounces has occurred that corresponded with price bouncing around this level too.
Our major resistance is at 1.2726 which is a major swing high resistance level and...
USDJPY is making a pullback to resistance at 107.70 which is a major 23.6% Fibonacci retracement level along with a horizontal overlap resistance. At the same time, we can see that RSI continues to be pushed down by our descending resistance line. Further bearish momentum could occur from here with our major support at 105.70, a major swing low support and...
Bitcoin is fat approaching major support at 9119 which is a fibonacci retracement, extension and pullback support level. At the same time, we can see strong bullish divergence vs price which is always a good precursor of a potential bounce.
Our major resistance is at 11813 which is our 50% Fibonacci retracement and horizontal overlap resistance level.
Nikkei is testing major resistance at 22178 to 22360 where we can see strong fibonacci retracement and fibonacci extension along with horizontal overlap resistance. What is nice to see is that there are multiple stochastic reactions that has occurred at that level too.
Major support is at 21700 which is a strong fibonacci retracement, extension and overlap support.
EURUSD has broken our major ascending support line and we can also see that it is below our ichimoku cloud. These are usually very bearish signs. We can also see that our long term ascending support line on RSI was broken which is also a strong precursor to a change in momentum from bullish to bearish.
We do feel that there's major support at 1.2230 which has...
EURAUD is now in a nice range with 1.5771 as our major resistance level with it being our horizontal swing high resistance and also a key fibonacci extension level. Our other limit of our range is the support at 1.5606 which is our horizontal swing low support, and 38.2% Fibonacci retracement. Our next major support is 1.5473 which is our horizontal overlap...
Etherium has dropped strongly after breaking our major resistance level and is now right on our major support level at 778 .62 which is a fibonacci retracement, extension, overlap support and has bullish divergence level.
Our next major level of resistance is at 907.45 which is similarly a fibonacci retracement, extension and overlap resistance level.
It is...
We can see that USDJPY has reacted perfectly off our resistance at 107.70 which if a fibonacci retracement level and a horizontal pullback resistance. RSI is also correspondingly reacting really nicely off our descending resistance line as forecasted. Our next major level of support remains at 105.70 which is a fibonacci extension level and a major swing low...
Nikkei is testing major support at 21700 which is the 38% retracement and 61.8% extension along with a strong overlap support. Breaking this level could trigger a strong move down to 21353 ( 61.8% retracement , 100% extension, horizontal overlap support).
It's important to note that RSI has broken below our strong 50% support signalling that a potential bearish...
GBPUSD is approaching strong support at 1.3766 and there's a strong potential for a bounce from here. There's multiple fibonacci retracement, extensions and supports at that level. At the same time, we're seeing stochastic approach a strong area of support too where a corresponding bounce could occur.
Our resistance remains at 1.4135 which is a major swing high...
EURUSD has broken our long term ascending support-turned-resistance line signalling there's a strong potential for it to turn bearish. However, there's one more major support at 1.2230 that needs to be broken to trigger a potential bearish move towards our next major support at 1.2074. There's still good downside potential on Stochastic too so keep an eye out on this idea.
AUDUSD is approaching strong support at 0.7759 which is a 61.8% Fibonacci extension (a common extension used for profit taking), a horizontal swing low support, a long term overlap support and it corresponds to the support area we're seeing on Stochastic.
If it does bounce from there, the next big resistance is at 0.7891 which sees multiple fibonacci retracements...
USDJPY is making a strong pullback to resistance at 107.70 which is our 23.6% Fibonacci retracement and horizontal pullback resistance level. Breaking this level might signal a stronger recovery.
What is interesting is how RSI continuously reacts well to our descending resistance line and it's approaching the descending resistance line again, corresponding with...
We can see that there is clear support at 1.5606 and a potential bearish breakout is starting to form with price breaking below our ichimoku green cloud and RSI also breaking our ascending support. The only thing left to break to trigger a potential big drop is our 1.5606 support.
Our next big support would then be at 1.5473 which is our horizontal overlap...
Bitcoin is now testing our ascending support line which has been holding price up in its recovery since the beginning of February 2018. This is definitely a key support as if price breaks it, it would be a strong precursor to a bearish move. Drawing some correlation from our Etherium (ETHUSD) idea, this level has to hold otherwise we're seeing a potential larger...
We were watching our ascending support line really closely yesterday and price has finally broken below it. This is usually a sign for a potential change in momentum to bearish. Our 1st major resistance is at 907 which is a pullback resistance level. Our next major support is at 778 which is a 50% Fibonacci retracement and a strong horizontal swing low...
