Comparic
NZD/USD with +250 pips short possibility - pin bar under resistaBearish pin bar under confluence of resistances (Fibo + Trend line + march and april highs). Last time price tested that zone, we saw more than 250 pips downward move. Can the current pin bar move the price in the same direction?
NZD/USD with short possibility? +250 pipsBearish pin bar under confluence of resistances (Fibo + Trend line + march and april highs). Last time price tested that zone, we saw more than 250 pips downward move. Can the current pin bar move the price in the same direction?
Bitcoin test another resistance zone - what's next?After rebounding from support confluence, BTC/USD reached another smaller resistance. 2 scenarios possible
BTCUSD with another leg of correction?Support zone stopped stronger losses, but currently another smaller S/R zone occured (strengthen by Fibo retracement)
Bitcoin found a support or heading stronger correction?BTC/USD broke below 2000 finding itself inside the support zone (confluence of Fibonacci and high from the first part of the month). Now we should observe H1, H4 and D1 charts waiting for some Price Action buying pattern ( pin bar , inside or outside bar). If bears break below current zone, the scenario will change to the selling one - potential re-test of the newly created resistance should give some bearish opportunities and deepen the correction. Just wait and see
Bitcoin found a support or heading stronger correction?BTC/USD broke below 2000 finding itself inside the support zone (confluence of Fibonacci and high from the first part of the month). Now we should observe H1, H4 and D1 charts waiting for some Price Action buying pattern (pin bar, inside or outside bar). If bears break below current zone, the scenario will change to the selling one - potential re-test of the newly created resistance should give some bearish opportunities and deepen the correction. Just wait and see
USD/CHF shows some geometrics – Chance for further declinesUSD/CHF broke below important support level around 0.9853 (Fibo + this year lows) which was tested couple of times (arrows). Although the breakout was quite dynamic and we didn’t see a re-test, next trading opportunity may materialize in the next sessions. It looks like that USD/CHF found a new base near 78,6% Fibo (0.9729) – just take a look at the long lower wicks (fake breakouts). Currently they are two scenarios:
• Upward correction and re-test of the previous support at 0.9853 – then short position
• Breaking current base, re-testing it from below and move to the lower bound of geometrical measured zone (that intersects with the November’s lows) near 0.9550.
USDCHF USD/CHF shows some geometrics – Chance for further declinUSD/CHF shows some geometrics – Chance for further declines
USD/CHF broke below important support level around 0.9853 (Fibo + this year lows) which was tested couple of times (arrows). Although the breakout was quite dynamic and we didn’t see a re-test, next trading opportunity may materialize in the next sessions. It looks like that USD/CHF found a new base near 78,6% Fibo (0.9729) – just take a look at the long lower wicks (fake breakouts). Currently they are two scenarios:
• Upward correction and re-test of the previous support at 0.9853 – then short position
• Breaking current base, re-testing it from below and move to the lower bound of geometrical measured zone (that intersects with the November’s lows) near 0.9550.
What do you think?
GOLD with potential shorts? Under important resistance zoneWhen looking at the XAU/USD (GOLD) daily chart we can see that, price stopped below February’s highs near 1263.50USD per ounce. The resistance zone is strengthen by the 61,8% Fibo retracement (November-December 2016 depreciation after the US presidential elections). Last time 1263.50 pushed the price more than 60USD lower. We should wait for Price Action signal (currently market is drawing outside bar formation) and then open a short position targeting lows from this month and then the March dips.
NZDUSD – Will 0.7050 Stop Growth AgainAccording to my last week’s projection, due to bullish response market rejected local support at 0.6867 converging precisely at that time with 50% of Fibonacci correction from the earlier upward movement, and since then we have seen continued growth.
As a result of this move market has overcome a very important resistance zone at level 0.6950. It is worth noting that this level has not yet been tested from above (as support), which could determine action from bears in the near future and at least a downward correction.
Looking on H4 chart, we notice that market is approaching another significant resistance at level 0.7050. It is worth noting that this level has already halted demand for further growth and that if a supply reaction would occur in its vicinity, it could initiate potential drops.
USD/CAD Returns To Consolidation – Chance For Short?Breaking the upper limit of consolidation occurred already in April. Price after reflection from the top came under 61.8% of the abolition (1.37910) and rebounded to the south. Friday’s strong depreciation of USD/CAD brought price again to horizontal channel, simultaneously breaking Fibonacci 50% and March 1.3530:
The above-mentioned levels will play a key role in successive sessions, and with high probability will help us to decide to open a short position, aiming at lower limit of consolidation, which is almost 500 pips lower than the current price. Chart D1 at this point forms a bar pin under resistance – if session closes in that form, we will receive a signal to enter short. Find more at Comparic.com .
