EURUSD - Support Becomes Resistance📉Hello Traders👋🏻
On The Daily Time Frame The EURUSD Price Reached A Support Level (1.08614-1.08314) !
Currently, The Price Broke The Key Level (Support Level Becomes New Resistance Level)
If Price Stays Under The Key Zone,
EURUSD Can Continue The Bearish Move 📉
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TARGET: 1.07640🎯
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Demand Zone
USDJPY - NEW BREAKOUT📈Hello Traders👋🏻
On The Daily Time Frame The USDJPY Price Broke The Resistance Level (138.176-137.367)✔
Currently, The Resistance Level Becomes New Support Level📈
So, I Expect a Bullish Move📈
i'm waiting for a retest....
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TARGET: 141.267🎯
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EURNZD - BEARISH MOVE📉Hello Traders👋🏻
The EURNZD Price Reached a Resistance Level and Resistance Line (Resistance Cluster) ✔
The Price Failed To Create New Higher High📈
So, I Expect a Bearish Move📉
i'm waiting for a retest...
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TARGET: 1.72666🎯
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NZDCAD - BEARISH DOUBLE TOP📉Hello Traders👋🏻
The NZDCAD Price Reached a Supply Zone ✔️
The Price Failed To Create New Higher High and formed a Double TOP Pattern ✔️
The Neckline is Broken 🔥
If Price Stays Under The Key Zone, NZDCAD Can Continue The Bearish Move 📉
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TARGET 1: 0.83490🎯
TARGET 2: 0.82851🎯
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EURUSD I Potential bounce upward from demand zoneWelcome back! Let me know your thoughts in the comments!
** EURUSD Analysis - Listen to video!
We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met.
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Introducing the Responsive Supply and Demand IndicatorIn this comprehensive tutorial, Stock Justice offers an insightful walkthrough of the enhanced Supply and Demand Indicator. We delve into the tool's advanced features, demonstrating its capacity to identify pivot points across multiple timeframes, its customization options, and ways to interpret its outputs. The video provides valuable guidance on how to navigate the settings of this powerful tool, from plotting circles and lines to adjusting the number of ranges to be analyzed. By the end of this tutorial, users will better understand how to utilize the Supply and Demand Indicator to optimize their trading strategy and make more informed decisions.
IRISUSDTIRISUSDT seems to be in good bullish trend.
The retest of little confluence of demand zone may push the price much higher.
GBPUSD 14TH MAYThe British Pound to US dollar is exhibiting a similar trend to the charts we previously analyzed. The smaller time frame swing moves have broken down, indicating a bearish shift in the order flow. We have identified a small gap above previous price action and a small gap below our most recent swing low, leading us to believe in the possibility of a short-term retracement bringing us back into the zone above before continuing downwards towards the liquidity highlighted on the left. We plan to follow this pair in the same manner as the previous two pairs, catching some very nice sell moves off of it as it delivers bearish ranges. We will be looking for a weekly high to form around Monday or Tuesday before following this bearish trend further down into the lower liquidity pools. However, if the pair decides to continue bearish without retracing, we will follow the order flow. As always, refer to the DXY to understand the general market direction.
We'll be closely monitoring market openings and price action throughout the week. If you find this analysis useful, let us know in the comments below and hit the boost button to show your support. Here's to a successful week of trading!
EURUSD 14TH MAY
Here is our four-hour chart for the EUR/USD pair. Following a similar narrative to the gold chart published earlier today, we are anticipating a continuation of its bearish movement down based on the larger timeframe swing moves visible in this image. We are looking for a possible retrace to occur from the major swing low highlighted in the chart or a complete blow-through of that level, which would lead us into historical liquidity and an overall gap present on the daily timeframe.
We will be looking for continuations in our bearish ranges, but we will allow for the last short-term swing high highlighted in our chart to be taken for the gap above to be filled. Please note the purple zones that we have highlighted; these are areas where we're looking for reversals in trend.
Regardless of whether we experience a bearish or bullish gap, we will follow the order flow with this pair and hopefully pick up some nice continuation trades to the downside. If we do reverse, we will follow the order flow with that and continue to buy this pair into its overall narrative.
However, as stated in the Gold analysis, the DXY is showing some signs of bullishness, so we will be paying attention to what price shows us in the first sessions of the week. We are looking for a weekly high to be formed around Monday or Tuesday, as stated in the Gold analysis, and we will look for a bearish continuation from that point.
We'll be closely monitoring market openings and price action throughout the week. If you find this analysis useful, let us know in the comments below and hit the boost button to show your support. Here's to a successful week of trading!
XAUUSD 14TH MAR Hello everyone! It's great to be back with our weekly analysis for the gold market. Last week, we successfully played out of the supply zone we identified for sells and we're now seeing price break down. There is currently only two small gaps left to be filled, with one being in the area we marked as *gap to be filled*, This gap represents an imbalance between the last impulsive shift from our previously created swing low and the newly formed bearish range. We expect price to fill this gap before any potential bullish shift.
Furthermore, we've noticed liquidity around the most recently formed swing low and an imbalance sitting directly below it, which leads us to believe that there could be a potential bearish sweep before continuing with the overall bullish trend. While we know that this pair is overall bullish and has a fundamental narrative behind it, we're going to follow the order flow that is being shown to us directly.
Last week, we successfully followed the pair bullish and then bearish, resulting in clean trading ranges. Moving forward, we're looking for price to continue its bearish narrative with the weekly high being formed on Monday or Tuesday, leading to a bearish week ahead. From that point, we'll be looking for the gap area we highlighted for a potential bullish break to the upside. We'll then look to follow this bullish trend into the overall continuation of our larger timeframe trend.
Remember to always read order flow and follow what price is showing you instead of trading based on your desired direction. And, as always, stick to your risk and your plan.
We'll be closely monitoring market openings and price action throughout the week. If you find this analysis useful, let us know in the comments below and hit the boost button to show your support. Here's to a successful week of trading!
Potential reversal Outlook on GBPUSD:
last week we managed to catch the drop of the pair two times exceeding 150 points.
looking at the pair we se that it has not managed to break above the resistance line. Now we see a reversal pattern rebounding off a key supply zone. Our view is still bearish but we will wait further confirmation before entering any trade.
If price closes below 1.26238 , we will look to enter a short position targeting 1.256. Closing below it could take us to test the demand area between 1.24373 and 1.24489.
CHZUSD: Holds Demand Line as it Attempts to Spring Above SupportChiliz after Retracing to the .886 PCZ of a Potential Bullish Deep Cypher has bounced back into a Previous Zone of Support and is now Holding on to a Potential Demand Line.
It also appears to be double bottoming on significant timeframes at these levels.
If CHZ can successfully hold the line here we could see it go up to target the Neckline of the Double Bottom at and if things go really insane we could see it make a full upside .886 Retrace.
Litecoin - Scenarios To Watch 👀What's up, traders! In today's market breakdown, we're mapping out our latest levels to watch for on the Litecoin 1H chart.
Let's dive right in...
Ticker: LTCUSDT
Date: 05/12/23
Timeframe: 1H
Supply: 83.82-85.24 (1st red zone), 89.07-89.86 (2nd red zone)
Key zone: 81.41-82.00 (grey zone)
Demand: 75.18-77.74 (green zone), 65-67.58 (green zone)
Commentary:
LTCUSDT seems to be one of the few cryptos that have established a low on this move down and continues to respect demand down at these lows. This means it could be one of the tickers to play now that we have established new demand and supply levels.
Currently it seems to be respecting this ~82 level grey zone as supply but if this 75.18-77.74 demand holds up it is only a matter of time that this zone gets broken. There are a few trades we could target from here:
✅ Bullish Scenario 1: you want to see price pull back into the demand zone ~75.18-77.74 and buyers to emerge again for an upside move, possibly into ~81.41-82 key zone or higher into supply at ~83.82-85.24. This is the safer upside play.
✅ Bullish Scenario 2: you want to see price break above ~81.41-82 key (grey) zone, pull back to retest this zone and turn it into demand to catch a break and retest for a further upside move, potentially into supply at ~83.82-85.24.
✅ Bullish Scenario 3: you want to see price rally and break both this key (grey) zone and supply level at ~83.82-85.24, pull back to retest ~83.82-85.24 zone and turn it into demand to catch a break and retest for a further upside move potentially into next supply at ~89.07-89.86.
🟥 Bearish Scenario 1: you want to see price approach this key (grey) zone at ~81.41-82, sellers to regain control as they have done since Wednesday this week, and possibly catch a retest of this zone into demand at ~75.18-77.74 again. This will be the safer downside play if it sets up soon.
🟥 Bearish Scenario 2: you want to see approach supply at ~83.82-85.24, show weakness, possibly retest this zone and reject again for a move down into the grey zone or further down into demand.
🟥 Bearish Scenario 3: you want to see price break below demand at ~75.18-77.74, pull back up to retest and turn this zone into supply for further downside into March lows. There is a demand zone at ~65-67.58 so be cautious of that.
That's all we got for you in this one.
So what do you think? Are you bullish or bearish?
Let us know in the comments below!
We'll see you in the next one.
-The AlgoBuddy Team