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EURCAD, Huge Double-Top Formation, BEARISH Flag-Setup!Hello There! Welcome to my new analysis of EURCAD from the 4-hour timeframe perspective. Within recent times the forex currency pair already emerged with a massive bearish inclination that should not be underestimated especially as the momentum already reached an accelerated point. Now, a major consideration is whether this bearish dynamic holds on or is going to accelerate much more within the upcoming times. In my analysis, I have considered the backend analytics and what should be expected with the pair within the current market situation, especially with the major underlying bearish inclinations. When looking at my chart now, the most important part of my chart is this gigantic double-top formation with the first and second tops already being completed. Since EURCAD formed the second top within the whole double top formation it heavily accelerated with the bearish momentum finally breaking out below the boundary of the double top formation to accelerate the massive bearishness below these boundaries. Also, important here is that a major bearish EMA crossover is marking a huge resistance and is confirming the bearish downtrend dynamics. With the completion of the gigantic crucial momentous double-top formation, EURCAD is setting up a massive bearish inclination especially as it is forming the next bearish flag below the boundary breakout zones. This bear flag formation is likely to complete within the next time and is going to accelerate the bearish momentum continuations towards the lower levels. First of all, the first target zone that has been activated is the minimum target zone of 1.409 as marked in my chart. Once this target zone is reached and the bearish momentum accelerates the price is going to continue below these zones. Taking all these factors into consideration here, EURCAD is now about to set up the next bearish continuation wave which will reach the next bearish acceleration triggers once the bear flag formation to complete the double top confirmation has been finally completed with a breakout towards the downside. Depending on the bearish momentum that is going to prevail after the breakout setup it will be important on how the bearish momentum actually sets up and how it reaches the target zones. Because, especially when the momentum increases by 4x in momentum pace there is a high possibility for the bearish continuation to move further into the bearish ground continuation. It will be a highly crucial determination. In this manner, thank you everybody for watching my analysis of EURCAD. Support from your side is greatly appreciated. VP
by VincePrince
6
GBPJPY, Huge Wedge-Formation, Bullish Volume, BREAKOUT Setup!Hello There! Welcome to my newest idea about GBPJPY from several timeframe perspectives. Within recent times the volume demand within the pair has increased massively, especially as the GBP pair part keeps on being bullish despite an increased high interest rate structure. The trend did not reverse meaning there is a strong bullish edge that is determined by the fact that liquidity demand within the GBP region is showing great strength. Now, I have detected the most important levels and considerations to consider within the next time. Especially, with the major underlying structures and upcoming potentials this setup is likely to convert into a worthwhile opportunity. From the 4-Hour timeframe perspective, the GBPJPY price action is holding above important support zones determined by the 182.5 to 183.2 level in which GBPJPY already bounced several times. Especially marking the previous bullish momentum bounce above these important levels and now building the whole formation above the main supports this is marking a strong base from where further advancements are almost inevitable. Taking this into perspective GBPJPY has this major descending trend line in which it already bounced several times and now bounces again. From the 1-Hour timeframe perspective GBPJPY is forming this major inverse head-shoulder formation with the right shoulder now being completed and bouncing within the whole support cluster structure marking a final bounce to confirm the completion of the inverse head-shoulder and confirming target zones above the upper boundary of the bigger descending continuation wedge. The fact that this is also marking two major confirmations is making the structure much more bullishly inclined. When the appropriate momentum holds on then the GBPJPY pair is going to move into the next stages of expansion. From the daily timeframe perspective GBPJPY is building this gigantic ABC wedge count with the wave C to emerge when the breakout above the upper boundary of the wedge formation has emerged. This final breakout and the origin of the wave C is going to activate target zones of 195 to 200 within the whole wave count. Especially, when the breakout is determined with high volume and an increased demand liquidity within the GBP region this is going to add to an extra momentum to complete the whole formation and is going to increase the potential for the massive expansion wave to inevitable high conditions. The next time , the final breakout is going to initiate the completion of the whole formation. Because of the significance of this whole wedge setup and the high potential expansion setup, I am going to keep the symbol on my watchlist and re-evaluate the situation again once changes emerge. In this manner, thank you everybody for watching my analysis of GBPJPY. Support from your side is greatly appreciated. VP
by VincePrince
14
EURAUD, Huge Formation, WEDGE to Setup BEARISH BREAKOUT!Hello There! Welcome to my new analysis of EURAUD from the 4-hour timeframe perspective. In recent times the EXY, European Currency Index has shown up with crucial bearish inclinations which are pointing to a bearish market sentiment especially with massive inflation spreading like wildfire seemingly not reacting to exponential rate hikes pulled out by the ECB. Such developments could point to a major bearish setup emerging for the EURAUD also. Besides that, there are important formational structures that need to be considered here. In this case, it is necessary to determine the final completions and changes within the market before rushing to anything else. Formational Developments, Resistance, Bearish Momentum, and Setup: When looking at my chart now EURAUD continued to form this preceding huge bearish descending channel trend in which it already pulled back several times bearishly off the upper boundary increasing the high possibility likelihood of such pullbacks to holding on and printing the next bearish waves with continued lower lows to be determined. Especially as EURAUD already pulled back several times from the 65-EMA in red as well as the 35-EMA in grey these EMAs are substantial resistances from where continued pullbacks are more likely than anything else. Currently, EURAUD is approaching the EMAs together with the upper boundary resistance of the channel once again which is pointing to the next bearish wave to set up from here on. Upcoming Determinations, Bearish Breakout, Target Activation, and Underlying Drivers: Furthermore, what is the most important formation in my whole chart is this crucial descending wedge formation. Such a formation is pointing to an increased continuation toward the bearish direction in almost all of the cases. This formation will be completed with a final breakout below the lower boundary as it is marked within my chart and as EURAUD already completed the wave-count within the formation this final breakout is likely to emerge within the near future. Once the breakout has shown up as it is marked this is going to be the origin of the wave C extension and bearish momentum acceleration as it is marked. Once this wave C acceleration and bearish wave has shown up it is going to activate the final target zone as marked. Once this final target zone has been reached further assumptions need to be made. The pair is on my watchlist to determine important changes once they have shown up here, especially with the target projections and bearish developments to be expected. Especially, a massive inflation increase together with failed monetary policies are going to fuel a bearish momentum inclination here therefore these underlying factors also need to be considered then. In this manner, thank you everybody for watching my analysis of CHFAUD. Support from your side is greatly appreciated. VP
by VincePrince
17
USDCAD sept 27 2023 sellAs you can see, there is a shift in market structure 1H TF. Before going further, there is also same scenario if you checked daily TF---> BOS and then going lower. I waited for the level highlighted with institutional candle due to the fact that it sponsored the price to go lower. Upon checking I also see BOS following validity structure :) After that I go to lower timeframe 15min ( where I would normally enter). RR: 1:10 wyckoff distribution with validity/evidence. You can also check the chart for more information. Happy learning!
Short
by glyrad
1
AUDUSD, Massive BROADENING-WEDGE, Bearish Indications Setup!Hello There! Welcome to my new analysis about AUDUSD on several timeframe perspectives. The AUDUSD continued with continuational bearish price-action as it pulled back from several levels to continue forming lower lows. Now a major consideration here is if this trend into the bearish direction is holding on and in my chart I detected major signs that such a continuation is highly likely as there are huge formations forming that are setting up the massive volatility waves to emerge. As when considering the local timeframe perspective AUDUSD is forming this initial broadening-wedge-formation here which is going to activate targets below the 0.616 level. Once they are reached this will be even a part of a much larger formation which is actually a major broadening-wedge-formation, the fact that the price-action will also have formed a breakout below the preceeding trend-line that had the origins within the 2020 corona supply-shock bear-market breakdown lows. The fact that AUDUSD is going to form the breakout below the lower boundary of the gigantic large global broadening-wedge-formation as well as below the preceeding massive corona-lows trendline based in 2020 will be the contribution to a much larger bearish trend-dynamic. Furthermore, a continued high inflation within the AUD area is going to raise the interest rates for this area which is likely to put more bearishness on AUD in combination with the strong DXY this is a combination from where bearishness is elevated. In this manner, thank you everybody for watching the analysis, support from your side is greatly appreciated. VP
by VincePrince
9
Euro Still Drops After ECB's Record-High Interest Hike I must admit that the current state of affairs in the currency market has left me feeling rather disheartened. It is with a heavy heart that I share with you the recent news regarding the euro's ongoing decline, even in the face of the European Central Bank's (ECB) decision to raise interest rates to unprecedented levels. In a surprising turn of events, the euro has failed to find its footing, despite the ECB's efforts to bolster its value. The announcement of the highest interest rates on record was anticipated to provide a much-needed boost to the struggling currency. However, it appears that the market sentiment has not aligned with our expectations, leaving us in a state of perplexity and disappointment. As traders, we often rely on historical data, economic indicators, and expert opinions to guide our investment decisions. However, the current situation reminds us that the market can be unpredictable and subject to various external factors. While the ECB's decision was intended to instill confidence in the euro, it seems that other prevailing circumstances are exerting a stronger influence on its downward trajectory. In light of these developments, I would like to suggest considering a short position on the euro. Although it is disheartening to witness the currency's decline, it is crucial for us to adapt to market conditions and seize opportunities that arise from such situations. By taking a short position, we can potentially benefit from the euro's continued depreciation and mitigate potential losses. I understand that this suggestion may not align with our initial expectations or desires, but as traders, we must remain adaptable and open to alternative strategies. As the saying goes, "the market is always right," and it is our responsibility to adjust our positions accordingly. Please feel free to comment below if you would like to discuss this further or explore other potential trading opportunities. I value your expertise and would appreciate your input on the matter. www.wsj.com
TVC:EXYShort
by bryandowningqln
USDCAD SWING ANALYZE / SHORT Hello dear friends I hope we start a very good week. There is a good position in the currency pair of the US dollar to the Canadian dollar And I drew two movement patterns for this currency pair. In short, this currency pair has weekly and daily resistances, and due to the decrease in momentum, we can think about short trades. If the drawn trend line breaks with good strength and seeing the entry trigger, we can enter the short trade And if the price goes up, we can take the risk on the resistance areas and enter the short trade. The loss limit should be placed behind the pivot in the first case and behind the resistance level in the second case Thank you for telling me your opinion
Short
by jawad369
1
USDCAD A DECISIVE DECISION hello traders , it seems like usdcad has a very important decision to make either Break the bearish trendline and go up to the key support that i indicated or Reject from it and drop back to the bullish trendline for the buyers to regain some strenght the break out may be influenced by the fundamentals coming later this week to determine the fate of the dollar and the fate of the pair. this is just my humble opinion but yeah follow me its free i post to you amazing setups and updates every week.
by xAB777