Rise towards 1,0550 on EURUSD We saw some misleading moves yesterday. The direction seems much clearer today.
After Powell’s press conference, we expect continuation of the rise towards 1,0550.
The best buying opportunities come with correction of the impulse movement.
The situation breaks up on break of 1,0288.
Candlestickpattern
EURUSD without clear direction After yesterday, the situation here is unchanged. We’re still not looking for trades and waiting for the right moment.
Today and tomorrow there is news that will cause movement and will provide better trade opportunities.
The sell option we’re looking at is that we already have a top and will look for a reaction around 1,0430 level.
The buy option is at stop hunting below the bottom at 1,0317 level and sharp rise.
Double bottom forms on USD/JPYUSD/JPY remains within a bullish trend on the daily chart, although prices have retraced -9.4% from its 24-year high. Prices have held above the 137.70 area and produced a double bottom pattern, with a bullish divergence on the stochastic oscillator. Two small bullish hammers have also formed to suggest the markets is trying to form a swing low. The bias remains bullish above the recent low, and we anticipate a break above 140 and an initial move to 142.
More downside potential on MLSUSDTA short walkthrough it's recent price journey shows it had a huge pump to the upside then followed by two double top formation and now price has broken the base of the double top, the bull camp from previous pump is now trapped, any liquidation will only exacerbate and head lower for this pair, a minor bounce to the support-turned-resistance will likely be met with heavy freshing selling or trapped bulls stepping over each other to get out.
Hence, this walkthrough suggests there is more downside to come and expect previous low 0.128 to get tested.
Volatility on EURUSDYesterday EURUSD rose almost to 1,0500, followed by over 150 pips drop. In this way a reversal candle is formed on a daily chart.
Therefore, today is important to see whether this drop will have the strength to continue or we will see a new peak.
We’re not looking for trades in EURUSD at this stage, again there are better opportunities in the crosses.
A breakout of the previous low will confirm sell opportunities.
BTC/USDT Future 1hr ShortBTC/USDT Future 1hr Short
Entry Price & Target All in Chart
Guy's Don't Forget to put SL in your Trade in this Market movement
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NZDUSD - Bearish Shark comboNZDUSD has a Bearish Shark Pattern on the intra-day and daily chart timeframe. My engagement will be on the intra-day timeframe; that's when the Shark Pattern completes at 0.6270. A minimum of 3-bar reversal must be seen on the intra-day timeframe before engaging in the trade.
I would stretch my targets to which of the daily chart patterns, giving me a lower risk with higher returns. You can't do this to all trading setups, and you have to understand the trend well before you could even consider doing that.
GBPUSD-Weekly Market Analysis-Nov22,Wk5The overall trend on GBPUSD is heading towards the upside, a bullish trend if that makes more sense to you.
I'm waiting for a buying opportunity. on a Bullish Deep Gartley Patterns that complete at X, I'm aware that most harmonic patterns traders don't trade Gartley Pattern the way I did, but I have other filters in place, and I've been trading harmonic patterns for the past 11 years.
No trades on EURUSD As we mentioned yesterday , sell opportunities are currently disrupted. Buy opportunities from current levels do not have good ratio.
That’s why we are targeting the crosses, especially those with JPY.
However, the rise is more likely to continue. In this case the first resistance level is 1,0473.
We’re going to look at new trades after correction or pullback.
GOING SHORT IN NZDUSDAccording to my technical analysis, It is forming an ascending parallel channel by creating a bullish Rally. According to the DOW Theory, it is forming Higher Highs and Higher Lows.
When I pick a trade it is already creating a new High and it needs to be retraced back to create a new Higher Low.
If we see the previous Higher High then it also creates a Shooting Star on Higher High for a retracement. It again creates a shooting star pattern on Higher High so hopefully, it will retrace back to create the new Higher Low.
Let's see what happens next
Rise on EURUSD The uptrend in EURUSD is gaining strength and has already broken previous highs.
We are likely to see a break of 1.0480 and a move towards 1.0540.
Sales opportunities are broken.
Buying opportunities from current levels do not have a good ratio.
Today we are looking at other trading instruments and waiting for suitable opportunities on EURUSD.
We remind you that today is Thanksgiving Day in the USA!
The important levels on EURUSD EURUSD rose to the pointed level of 1,032.
It is possible that the slow development and sideways movement will continue, with reduced volumes by the end of the week due to the US holidays.
This could lead to a test of 1.0220 and another rise, after which we look at the right moments to sell.
We are not considering buying because we are in a resistance zone from the daily chart and we are watching for a possible reversal.
Downtrend on EURUSDThe resistance zone we’ve marked is having an impact and EURUSD is reversing the H1 trend.
On Friday we commended sales opportunities.
Now the options are on a break and test of 1,0278 or on another pullback.
The first target is 1,0142, and 0,9950 in case of breakout.
This movement is part of the downtrend on the daily chart.