GBPUSD: Market Breakdown & Multiple Time Frame Analysis 🇬🇧🇺🇸
Top-down analysis on GBPUSD.
Price action & key levels.
Trading recommendations & thoughts.
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Fxtrading
DXY- One more leg down before we correct...Looking for the next leg down on DXY... We are sitting at a inefficiency area on the Daily TF so i expect a reaction from the highlighted area.
AUDCHF: The Zone to Watch 🇦🇺🇨🇭
AUDCHF is approaching a daily supply area.
0.68 - 0.6815 is a potential reversal zone from where a bearish move may start.
Your confirmation will be a bearish breakout of a rising wedge pattern on 1H time frame.
While the price remains within its boundaries, though, the market remains bullish.
In case of a bullish breakout of a yellow zone, the setup will be invalid.
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EURUSD: How to Short With Confirmation? 🇪🇺🇺🇸
Update for EURUSD.
Standing on a strong daily horizontal resistance,
the price formed a head and shoulders pattern.
I am waiting for its neckline breakout (hourly candle close below) to short wisely.
Targets will be: 1.177 / 1.175
In case of a bullish breakout of a head level (new higher high), the setup will be invalid.
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EURNZD: Important Decision Ahead! Your Plan: 🇪🇺🇳🇿
EURNZD is trading within a key daily structure resistance cluster.
On that, the price is currently consolidating within a horizontal trading range.
1.715 - 1.716 is its resistance.
1.7045 - 1.7065 is its support.
For now, I see two equally possible scenarios:
Bearish
In case of a bearish violation of the support of the range,
bearish continuation will be expected.
Next support will be 1.69
Bullish
In case of a bullish breakout of the resistance of the range,
a trend following movement will be expected.
Next resistance will be 1.73
Wait for the breakout & follow the market.
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Potential Breakout in AUDUSD Towards 0.7515Trend Analysis
The main view of this trade idea is on the 2-Hour. The fx cross AUDUSD has been trading in a rangebound movement since around the 20th July. The bottom of the rectangle is at the 0.72876 area while the top of the rectangle is observed around 0.74. The top and bottom of this chart pattern (rectangle) serves as support and resistance. Expectations are for a breakout in AUDUSD.
Technical Indicators
To support this potential breakout in AUDUSD, is the fact that at the time of publishing the fx cross is trading above its short (25-SMA), medium (75-SMA) and fractal moving averages. Also there has been a positive crossover on the KST as well as the RSI is above 50 and approaching overbought levels.
Recommendation
The recommendation will be to go long at market. AUDUSD’s target price is 0.7515, with a stop loss at around 0.72876. This produces a risk reward ratio of 1.31.
Disclaimer
The views expressed are mine and do not represent the views of my employers and business partners. Persons acting on these recommendations are doing so at their own risk. These recommendations are not a solicitation to buy or to sell but are for purely discussion purposes. At the time publishing, I have a position in AUDUSD.
GBPNZD: Consolidation Trading 🇬🇧🇳🇿
GBPNZD is trading within a wide horizontal trading range on a daily.
1.962 - 1.967 is its support.
2.005 - 2.008 is its resistance.
Approaching the range's upper boundary the price formed a cute dodji candle on a daily.
On hourly time frame, the pair formed a head and shoulders pattern.
1.99 - 1.993 is its neckline.
To sell with a confirmation, wait for a neckline breakout (hourly candle close below the yellow area).
Goals will be 1.98/1.97
In case of a bullish violation of a head level, the setup will be invalid!
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GBPNZD: Pullback From Key Level
GBPNZD is a quite overbought pair.
With 2 MA's cross, it looks like the market is preparing for a bearish move.
We already shorted.
Our goal - 1.98
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USDCAD: Market Breakdown & Technical Outlook 🇺🇸🇨🇦
Technical analysis on USDCAD.
Price action & directional bias.
Key levels & structure.
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GBPJPY: Important Breakout & Bearish Continuation 🇬🇧🇯🇵
GBPJPY broke and closed below a strong support cluster.
Now the broken area turned into a resistance.
For safe entries, I would prefer to wait for an occasional retest.
151.15 - 151.6 will be the zone from where I will look for shorting opportunities.
Next support - 150.0
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GBPJPY: BREAKOUT & BEARISH MOVEMENT
In contrast to EURJPY,
GBPJPY looks very bearish to us.
With a confirmed support breakout,
we see a nice potential for a further decline.
Next goal - 149.1
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AUDUSD 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: Potential Short Trade 🇪🇺🇨🇦
EURCAD is testing a peculiar intraday structure resistance.
Watching the reaction of the price on that we see multiple rejection and dodji candles.
The price started to trade in a local consolidation area.
To short the market with confirmation,
wait for a breakout of 1.477 - 1.4775 support.
It will be our trigger to open a trade.
Goals will be 1.473 / 1.469
In case of a bullish breakout of a yellow resistance,
the setup will be invalid.
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CADCHF: Structure Trading With Confirmation 🇨🇦🇨🇭
Hey traders,
CADCHF is trading on a strong key level.
0.736 - 0.738 is major historical resistance.
The price formed a peculiar dodji candle on that on a daily.
On hourly time frame, we see a local consolidation & indecision within a narrow horizontal trading range.
Our confirmation to short will be its bearish breakout (hourly candle close below its support).
Selling on a retest we can catch a nice pullback trade.
Goals: 0.7335/0.7305
In case of a bullish breakout of the range though, bullish continuation will be expected
and our selling setup will become invalid.
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AUD NZD FALSE CONSOLIDATION BREAKOUTThis trade setup is taking advantage of the Bearish Trend on the Daily and 4 Hour Charts, the Tweezer Tops of the Daily Chart and the False Consolidation Breakout on the 4 hour. These are supporting a bearish move in favour of the NZD that is expected to provide gains towards the major support of 1.0418.
EURCAD: Two Scenarios Explained 🇪🇺🇨🇦
EURCAD is trading within a narrow consolidation area since the end of July.
Approaching its support, I see two potential scenarios for the pair:
Bearish
In case of a bearish breakout & daily candle close below the underlined horizontal support,
bearish continuation will be expected to 1.47 level
Bullish
To catch a pullback from the underlined support,
on focus is a falling channel on 1H chart.
Bullish breakout of its resistance will be your trigger to buy.
Goal will be 1.483
Wait for a trigger and follow the market!
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EURUSD: Structure Trading. Your Confirmation to Buy🇪🇺🇺🇸
As many other EUR pairs, EURUSD is standing on strong horizontal support.
To catch a pullback from the underlined area, watch a potential inverted h&s pattern on 1H.
1.1767 is its neckline.
Wait for its bullish breakout (1h candle close above) as a signal to buy.
First goal will be 1.18
In case of a bearish violation of the yellow zone,
setup will be invalid.
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USDNOK Found Support at 8.7 and Long Target at 8.9Trend Analysis
The main view of this trade idea is on the 2-Hour. The fx cross USDNOK appears to have found support around the 8.7 price level, as the countertrend move in the currency appears to have ended. This produces an opportunity to go long USDNOK with initial resistance observed around 8.9, which can be an initial target for the fx cross.
Technical Indicators
The premise is based on the RSI emerging from oversold levels and currently near the 50 level at the time of publishing. Also, there is a positive crossover on the KST. Despite the fx cross being below its medium-term MA (75-SMA), USDNOK is above its fractal MA and testing its short-term MA (25-SMA).
Recommendation
The recommendation will be to go long at market. Stop loss will be set around the 8.7 price level and a target of 8.9. This produces a risk-reward ratio of 1.3.
Disclaimer
The views expressed are mine and do not represent the views of my employers and business partners. Persons acting on these recommendations are doing so at their own risk. These recommendations are not a solicitation to buy or to sell but are for purely discussion purposes. At the time publishing, I have a position in USDNOK.
NZDUSD: Breakout & Bullish Continuation 🇳🇿🇺🇸
During today's morning live stream with my students
we discussed NZDUSD.
The pair is trading in a bullish trend since the middle of July.
After a recent retracement from 0.709 level,
the price formed a horizontal decision range.
This morning its resistance was broken.
Now I expect a retest of a current local high - 0.7083
and then a continuation to 0.70975
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EURCHF: Update & Intraday Outlook 🇪🇺🇨🇭
Recently we spotted a bearish breakout of major horizontal structure support on EURCHF on a daily.
Being very bearish biased I was patiently watching the price action on intraday timeframes.
On 2H chart, the price is currently consolidating.
The market is perfectly stuck within a horizontal trading range.
To catch a bearish continuation with a confirmation,
wait for a bearish breakout of a support of the range (you need a candle close below).
It will be a solid trigger.
Next goal will be 0.705
In case of a bullish breakout of the range, the setup will be invalid
and I won't trade.
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CADJPY: Breakout Trade Explained 🇨🇦🇯🇵
CADJPY is testing a strong resistance area.
With lower time frame analysis and fib.retracements of the last two bearish impulses
I managed to identify the following potential reversal zone:
87.07 - 87.24
To catch a bearish move from that area,
follow a rising wedge pattern on 1H.
Its bearish breakout (at least 1H candle close below its support)
will be your trigger to short the market.
Initial goal will be 86.6
In case of a bullish violation of the yellow area,
setup will be invalid.
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GBPCHF: Great Shorting Opportunity Explained 🇬🇧🇨🇭
GBPCHF is trading within a major falling channel on a daily.
The price has recently reached its resistance line.
To catch a bearish move, watch an expanding wedge pattern on 2H.
While the price stays within its boundaries, the market will remain bullish.
Wait for a bearish breakout of its support as a signal to short.
Goals:
1.257
1.253
In case of a daily violation of a resistance line of a falling channel,
setup will be invalid and bullish continuation will be expected.
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AUDNZD: Pullback From Support 🇦🇺🇳🇿
AUDNZD is trading within a horizontal trading range on intraday time frames.
1.0545 is its support.
1.0615 is its resistance.
The range's lower boundary was reached last week.
After some consolidation & indecision, the price formed a double bottom on that.
Now I expect a pullback.
Goals:
1.0573
1.0585
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