Get started

Forexsiganls

CADJPY approaching its support, potential for a bounce!CADJPY is approaching its support at 83.468 (100% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap support) where a bounce could potentially happen, pushing price all the way up to its resistance at 84.277 (100% Fibonacci extension, horizontal swing high resistance). If it surpasses this level, it could rise to its next resistance at 84.764 (38.2% Fibonacci retracement). Stochastic (34, 5, 3) is approaching its support at 4.9% where we expect to see a corresponding bounce.
Long
by ICmarkets
NZDUSD testing major resistance, potential drop!We're seeing NZDUSD test major resistance at 0.7274 (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance, bearish divergence) and a strong reaction could occur at this price to push price all the way down to major support at 0.7206 (Fibonacci retracement, horizontal swing low support). We do have to be wary of intermediate support found at 0.7232 (Fibonacci retracement, horizontal swing low support). Stochastic (34,5,3) is seeing major resistance at 94% and also sees bearish divergence vs price which is a precursor that price might be seeing a strong reversal.
Short
by ICmarkets
1
AUDUSD broke out of long term resistance line, potential rise!AUDUSD broke out of its long term descending resistance line and horizontal overlap support level at 0.7834 (23.6% Fibonacci retracement , horizontal overlap support). A strong reaction could occur at this level pushing its price up to our next resistance level at 0.7891 (horizontal overlap resistance, 61.8% Fibonacci retracement , 100% Fibonacci extension ). A breakout of this level could potentially push price up to our next major resistance at 0.79868 (horizontal overlap resistance, 61.8% Fibonacci retracement ). RSI (55) is also seeing a bullish exit and a breakout of its long term descending resistance line, a good precursor for further potential rise in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by ICmarkets