Optimistic indicators have recently graced the GBPJPY forex pair. Analyzing the daily charts, a bullish momentum is clearly reinstated, with two consecutive daily closings above the significant 50-day moving average. Moreover, the hourly chart illustrates a robust consolidation within this burgeoning bullish trend. We are poised for a potential breakout above the...
USDINR is at the resistance zone, if manage to close below, we can see a potential downside. This is purely a technical view. Any change in sentiments can affect the price adversely. Please do like and subscribe. Any suggestions or advice is humbly welcomed. Disclaimer:I am not a SEBI Registered Analyst, and the views expressed here are solely my...
GBPAUD is trading inside a Channel Up and the recent rejection on its HH trendline has turned the 1D timeframe neutral technically (RSI = 51.719, MACD = 0.007, ADX = 31.058). This is a sell signal which on the short term extends to the 1D MA50 (TP1 = 1.891500). If the price action closes a candle under the 1D MA50 and the HL trendline, we will sell again,...
Very strong bullish move occurred and price reached our significant zone 0.698850. We can see bearish reaction now, and it is likely to continue.
Price is still trending up. We can see strong bullish trend and many bullish wick rejections that indicated bullish pressure. Price reached 0.68800 zone and I will wait for a reaction.
Price consolidated for a while between our significant zones. Recently, price broke 140.300 zone and retested it. It also formed new high 141.500. I advise you to wait for a reaction.
the pair has tested the support level of 1.59019 and is starting to show signs of continuing its bullish run. check the chart for more visual details.
AUDNZD, is currently trading at resistance. A sell confirmation will be the signal we need to short this pair.
AUDNZD is on a very aggressive short-term rally following the 1.05600 Low, turning overbought on its 1D technicals (RSI = 73.113, MACD = 0.006, ADX = 40.707). As the price approached R1 (1.108900), it is gradually turning into a sell opportunity, with the Channel Up Top being just over. Consequently, we turn bearish ourselves, targeting the bottom of the Channel...
CADJPY hit today the top of the HH trendline that started the Channel Up at the start of the year. 1D is naturally on firm green level technically (RSI = 64.634, MACD = 1.030, ADX = 45.677) but the RSI has been trading on a flat Rectangle since May 18th. It is the same pattern that led to the February 18th High. Our trigger level to sell is the crossing under the...
Welcome to this week's Trade Planning Session! In this video, I examined the cumulative CSI (Currency Strength Index) of this past week and compared it to the previous weeks' cumulative CSI. Based on this evaluation, we have identified the GBPUSD, AUDUSD, and CADJPY as potential buy pairs, while the EURAUD, EURCAD, EURGBP, and EURUSD are potential sell pairs for...
EURUSD is having a highly aggressive bullish break out as not only did it cross over the 3 week Channel Down pattern but also the 4H MA50 which has been unbroken since May 8th. The 4H technicals are healthy bullish (RSI = 58.132, MACD = -0.001, ADX = 39.347) and if the current 4H candle closes over the R1, we will extend our buying and target the R2 and 1D MA100...
EURCAD is on the bearish leg of the Ascending Triangle pattern that targets the S2 Zone (1.42400 - 1.42800). Obviously the 1D technicals are bearish (RSI = 36.214, MACD = -0.006, ADX = 52.689) and our bearish target is the top of S1 at 1.43850. Regardless of S1 or S2, we have timed our long term buy entry when the 1D RSI turns oversold at 30.000. As you see the...
AUDJPY has now had two rejections in less than a week on the 1D MA200, which is also at the top of the six month Channel Down pattern. The 1D technicals have already turned neutral (RSI = 50.136, MACD = 0.500, ADX = 19.362), the 1D RSI has been trading sideways inside a Rectangle while the price was on HH/ HL, which indicates a Bearish Divergence and the...
EURCHF is approaching the bottom of the January Channel Down and S1 (0.964500), followng a Death Cross on Friday. The 1D timeframe is technically red heavily (RSI = 33.995, MACD = -0.004, ADX = 37.194) and as the RSI is on a Falling Wedge, an upward break-out is very likely. Consistent with the previous two rebounds inside the Channel Down, we are aiming at a...
EURJPY is approaching the top of the one year Channel Up pattern with the 1D time frame on strong bullish technicals (RSI = 63.669, MACD = 1.080, ADX = 24.666). Once the 1D RSI breaks the 70.000 overbought level again, it will be the most optimal sell entry on a seven month basis (previous one on October 21st 2022). It is already a strong sell opportunity and we...
NZDUSD is trading inside a Channel Down, currently under both the 1D MA50 and 1D MA200 but approaching the bottom of the pattern. The 1D timeframe is technically bearish (RSI = 35.132, MACD = -0.002, ADX = 37.676) but when the RSI hit the bottom of the five month Rectangle it has been a buy signal. Similarly with the top being a sell signal. Those RSI tops and...
EURUSD is on the 3rd consecutive red 1W candle with 1W technicals turning neutral (RSI = 55.304, MACD = 0.015, ADX = 31.636) and 1D bearish. The bearish alarm comes from the 1W RSI, which declined after a Double Top. The very same Double Top emerged on December 14th 2020 and January 29th 2018. Both were at the very tops of the price, with a HH trendline present...