Gbpusd Price actionA sight we have seen many times.. and one which I often post about.
Price dwindles with tighter and tighter margins between highs and lows and buyers and sellers accumulate before a rise To the north OR south.
Shorts can be accumulated on a much higher rise. Bias remains long on further falls.
Fxtrader
Dollar Index (DXY): Time to Grow? 💵
Dollar index is trading within a wide horizontal trading range.
Yesterday, the price reached its support.
Then the price was coiling within a narrow horizontal range on an hourly time frame.
Its resistance breakout will most likely trigger a bullish continuation.
Initial target will be 98.39
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AUDUSD: Potential Pullback Trade Explained 🇦🇺🇺🇸
AUDUSD is approaching a strong structure resistance.
On that the price formed a double top formation.
To catch a pullback you should wait for a bearish breakout of its neckline.
You need an hourly candle close below 0.723 - 0.725 area.
Then shorting on a retest your goals will be 0.7185 / 0.7145
If the price sets a new high, the setup will be invalid.
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USDCHF: Key Level & Short Trade 🇺🇸🇨🇭
USDCHF is testing a strong intraday resistance cluster.
On that, the price formed a head and shoulders pattern and successfully broke its neckline to the downside.
After its retest, I expect a bearish move to 0.91796 / 0.91593
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EURAUD top-down analysisHello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
GBPNZD top-down analysisHello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
EURNZD: Consolidation & Indecision | Your Plan 🇪🇺 🇳🇿
For the last two weeks, EURNZD remains weak and indecisive.
The pair is coiling within a horizontal trading range.
It looks like the market participants are waiting for some fundamentals.
To catch a bullish move wait for a bullish breakout of a range's resistance.
In case of a 4H candle close above that a bullish movement will be expected to 1.73 level.
In case of a bearish breakout though, the pair may drop lower.
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EURUSD: Technical Outlook | Two Scenarios For Next Week 🇪🇺🇺🇸
Hey traders,
Based on a price action analysis I see two potential scenarios for EURUSD next week:
Bullish
Even though the pair is trading in a global bearish trend,
since November we see a correctional movement.
The market is steadily growing within a rising parallel channel.
Now the price is approaching its support.
For now we may expect a bullish movement from that.
Bearish
The channel that we earlier discussed can be perceived as a bearish flag pattern.
Its support breakout will trigger a trend following move and a test of a current low.
I am still bullish and have a long position on EURUSD.
But be prepared for both scenarios.
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USDRUB top-down analysisHello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
EURCAD top-down analysis, UPDATED!!Hello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
NZDCAD top-down analysisHello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
AUDUSD: Important Breakout & Bullish Continuation 🇦🇺🇺🇸
During the last three weeks, AUDUSD was forming an inverted head and shoulders pattern.
This morning the price violated its neckline to the upside.
It looks like the pair is preparing for a bullish continuation.
Next resistances:
0.727
0.735
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AUDCAD: Pullback From Key Level 🇦🇺🇨🇦
Update for AUDCAD.
As you remember I am very bearish on the pair.
For a couple of days, I was looking for a confirmation to sell.
On Friday the price reached a strong horizontal resistance level.
On that, the price formed a double top formation and broke below a support line of a rising wedge pattern.
The pair will keep falling.
Initial target - 0.906
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AUDCAD: Key Level & Bearish Continuation 🇦🇺🇨🇦
AUDCAD retraced to a confluence zone:
The underlined blue area is based on a major falling trend line,
a horizontal structure resistance and
618 / 50 retracements of the last two bearish impulses.
From that zone, I will expect a bearish move to:
0.903
0.899
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GBPUSD top-down analysisHello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
DOLLAR INDEX (DXY) Key Levels to Watch 💵
It looks like a correctional move started on Dollar index.
Here are the key levels for you to watch:
Vertical levels:
The market is currently trading within a huge rising parallel channel.
Its upper boundary is the closest resistance to watch.
Its lower boundary is the closest demand point.
Horizontal levels:
97.5 - 97.4 is the closest horizontal supply area
94.3 - 94.75 is the closest horizontal demand area
93.0 - 93.4 is a strong support zone to watch
The next trend-following move will most likely start only once the price reaches a vertical support.
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