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Forexpairs

GBPUSD: Buy opportunity on extremely oversold levels.GBPUSD hit the bottom of the prolonged Channel Down pattern, reaching extreme oversold technical levels on the 1D timeframe (RSI = 21.119, MACD = -0.012, ADX = 59.945). The 4H MACD is approaching the formation of a Bullish Cross, and prior price action shows that when formed this low, it always rebounds and hits at least the 1D MA50. We are on an early long trade, targeting the course of the 4H MA50 (TP = 1.2275), even though a Channel Down top extension can even reach as high as 1.2425. Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
9
USDJPY: Final rise before the pullback.USDJPY has been extending the fierce rise inside the Channel Up on a healthy bullish 1D technical outlook (RSI = 64.951, MACD = 0.990, ADX = 45.150). The 1D RSI has turned sideways since August 16th, a first indication that the uptrend might be losing steam. In our view, it is entering the last stage of this rise before a rejection to the 1D MA100 is materialized. See how every Resistance, prior LH of the 2022 decline has been filled and the final one is the R5 level at 152.000. If the pullback starts there, we will short and target the Fibonacci 0.5 level (TP 145.000), a similar structure that priced the July 14th Low. Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
1
EURUSD: Formed the first Bullish Cross after 3 years.EURUSD has been declining without a stop since July, turning bearish on the 1W timeframe (RSI = 38.075, MACD = -0.002, ADX = 37.003) with the RSI that low for the first time since October 2022. The most important technical formation though is the 1W Bullish Cross (MA50-100) which is the first time we see it forming after exactly 3 years. A quick look on past 1W Bullish Cross formations in the last 10 years shows that when completed, it was never the top for EURUSD. On the contrary it has been an optimal buy entry. With the exception of February 2018, the pair has always topped above the Fibonacci 0.618 level, which is where it got rejected in July. To be more precise, the recovery since the late 2022 bottom appears to be more similar to the July 2012 recovery. This gives us more evidence to expect one more rally on EURUSD before it tops for another Bear Cycle. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
1
EURGBP: Approaching the 1D MA200. Strong Resistance Band.EURGBP is on a strongly bullish 1D technical outlook (RSI = 67.813, MACD = 0.002, ADX = 32.512) as it is rising on HL since the 0.84950 bottom. The 1D MA50 has been turned into Support but the price is now approaching the first important Resistance levels for the long term, R1 (0.87025) and more importantly the 1D MA200. If it achieves a candle close above, we will go long and target R2 and the 0.786 Fibonacci level (TP = 0.88750). If rejected on the 1D MA200, we will go short and target the 1D MA50 - HL zone (TP = 0.86200). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
EURJPY initiating a sell signalEURJPY is trading inside a Channel Up for the past 3 months. The price is approaching the top of the Channel Up on a +9.00% extension, such as the May 2nd top. Trading Plan: 1. Sell on the current market price. Targets: 1. 153.750 (bottom of the Channel Up, below the 0.382 Fibonacci and above the MA50 1d). Tips: 1. The RSI (1d) will give a confirmed sell signal after it crosses under its MA line. It did so on May 3rd. Please like, follow and comment!!
Short
by TradingBrokersView
CADGBP Triple Bottom Chart PatternCADGBP, the Canadian Dollar against the British Pound, is showing indications of a potential reversal as it forms a triple bottom pattern on the 1-hour timeframe, finding support at a key level. This pattern suggests a potential shift from a downtrend to an uptrend. Traders observing this potential reversal might consider a take profit level at 0.5983, targeting an upward price movement towards this objective. To manage risk effectively, it is advisable to place a stop loss at 0.5932, serving as a protective measure if the reversal does not materialize as anticipated. While the triple bottom pattern and support level offer encouraging signals, it is essential to consider other factors such as overall market conditions, fundamental analysis, and prevailing market sentiment. Relying solely on technical patterns may not guarantee successful trades, so it is important to closely monitor the market for any changes or developments. Looking forward to read your opinion about it!
Long
by TopgOptions
EURUSD Channel Up calls for pullback first, rebound later.EURUSD got rejected on a Rising Resistance after Wednesday's rebound at the bottom of a newly formed Channel Up. This rejection calls for a sell with the MA50 (4h) is supporting. Trading Plan: 1. Sell when the RSI (4h) crosses under the MA line. 2. Buy when the RSI (4h) hits the Rising Support. Targets: 1. The RSI (4h) Rising Support. We estimate that to be within 1.07200-1.07000. 2. 1.07900 (the Rising Resistance). Tips: 1. The RSI (4h) is trading inside its own Channel Up. Use it as an additional metric for buying low / selling high. 2. Buying extensions can be justified only over Resistance (1) and more importantly the MA200 (4h). Please like, follow and comment!! Notes: Past trading plan:
by TradingBrokersView
1
AUDUSD New bullish leg started inside the Channel DownAUDUSD made today the first strong green (1d) candle in a long time as it touched and rebounded at the bottom of the Channel Down. This is the new bullish leg that should aim to fill the new Lower High. Trading Plan: 1. Buy on the current market price. Targets: 1. 0.67000 (3.70% rise from the bottom as the previous bullish leg). Tips: 1. The RSI (1d) crossed above its MA line, same with March 13th. That was a day after the bottom of the Channel Down at the time and the start of the new bullish leg. Please like, follow and comment!! Notes: Past trading plan:
Long
by TradingBrokersView
4
EURCHF: Support and Channel Down Bottom. Ideal Buy opportunity.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 +1.94% rise, towards the Channel's top and the 1D MA200 (TP = 0.982500). Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
8
AUDNZD: Sell signal confirmed.The AUDNZD pair got rejected on the 1D MA50 turning the 1D technicals bearish (RSI = 42.793, MACD = -0.002, ADX = 30.864) for the first time in a month. The price got also rejected on the 1D MA200 and the LH trendline on April 21st, which started the current bearish leg. This may give a rise to a Channel Down. We are short, targeting the HL trendline (TP = 1.05300) and is the price closes under the S1, we expect a bearish extension to S2. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
1
CADJPY: The 1D MA50 is crucialCSDJPY is on the rising Channel of its medium term Channel Up, rebounding on the 1D MA50. The 1D technicals are neutral (RSI = 53.031, MACD = 0.270, ADX = 28.072) and that always favors technically the dominant trend. So as long as the price is inside the rising Channel, our target will be the 1D MA200 (TP = 101.350). If a candle closes under the rising Channel and ideally the 1D MA50 as well, we will sell targeting the bottom of the Channel Up (TP = 96.000). The 1D RSI is on a HL trendline. Technically a low risk buy will be on that line. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
by InvestingScope
2
EURCAD: Last buy round then sell to the 4H MA200.EURCAD is on a very consistent bullish pattern since February giving low risk buy signals on the HL trendline and sell signals on the HH trendline. This is well illustrated by the bullish technicals on the 1D time-frame (RSI = 63.779, MACD = 0.009, ADX = 34.173). The price is currently on the final bullish wave to the HH trendline, and we will stay long with TP = 1.51550. That is the 1.618 Fibonacci extension, which marked the previous Higher High (HH). Then we will sell targeting the 4H MA200 (TP = 1.4900). Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
EURUSD: Buy signal on emerging MACD Bullish Cross.EURUSD held this week the Channel Up pattern of March and remains on bullish technicals across the 1D timeframe (RSI = 60.701, MACD = 0.006, ADX = 39.732). As long as S1 holds, we expect a break of R1 and a new Higher High for the Channel Up on the 1.618 Fibonacci (TP = 1.11800). If however S1 breaks, we will switch to selling and target S2 and the 1D MA50 near S3 (TP = 1.08500). Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
1
EURUSD Decision time for the trendEURUSD rose significantly today, hitting the MA50 (4h). It remains inside a (white) Channel Down, which however is similar to the April pattern that eventually broke upwards. Trading Plan: 1. Sell as long as the price stays inside the (white) Channel Down. 2. Buy if it crosses and closes over it. Targets: 1. 1.09200 (Support 1 and MA200 (4h). 2. 1.11845 (Resistance 2). Tips: 1. The RSI (4h) is where the similarities between the two Channels are more obvious. A break over the dashed Falling Resistance is a confirmed buy signal. 2. The long term pattern is a Channel Up. Please like, follow and comment!! Notes: Past trading plan:
by TradingBrokersView
2
EURCHF Trading plan based on the RSIEURCHF is trading inside a Channel Down after getting rejected on January's Falling Resistance. As long as the Channel Down is intact, the trend is bearish. If broken to the upside, it's bullish. They key to it however seems to be the RSI. Trading Plan: 1. Sell as long as the RSI (1d) remains under its MA line. 2. Buy if it crosses over it. Targets: 1. 0.97500 (near Support 1) 2. 0.99500 (near Falling Resistance). Tips: 1. The RSI (1d) has always given a buy signal when it crossed above its MA ever since the Falling Resistance started. Please like, follow and comment!!
by TradingBrokersView
7
GBPJPY: Channel Up needing a pull backThe GBPJPY pair has been trading inside a Channel Up pattern for the majority of the year and with the price now on its top, the 1D technicals are naturally bullish (RSI = 65.660, MACD = 1.070, ADX = 50.539). A Golden Cross will be formed by next week and just as the Death Cross was on a bottom on Jan 17th, the Golden Cross can be the Channel's new Higher High and start a pull back to its bottom. Sell as long as the price closes inside the Channel Up and buy near the bottom (TP = 168.000). Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
1