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Investroy

EUR/USD, detailed chart breakdown and next targetsNow, let's see what we have on EUR/USD. As it can be clearly inferred from the chart analysis, a really strong bullish candle was printed last week, which penetrated the previous Lower Low on the H4 and H8 timeframe charts. Looking at the DAILY and WEEKLY charts, we can see that the price has been dropping like a needle and some corrections are definitely needed. Although the long-term trend is bearish, we believe that the price will continue rising for some time. The price is currently sitting on a zone of previous resistance turned support which aligns with 50% Fibonacci retracement level. We are waiting for some action and confirmations around this zone, before we open longs positions and aim for the targets identified on the chart
Long
by Investroy
18
USD/JPY, interesting scenario. Where are we headed next?Welcome once again, family and let's see what we have on USD/JPY for this week. As it can be clearly noticed from the setup, the Japanese Yen got really strong around Friday last week. If we take a look at all JPY pairs, we can witness a dramatic rise of the JPY in the relationship with other currency pairs. The price of USD/JPY is currently sitting on an important zone of support. Taking a close look, we can see that a decent sideways moving range has been formed. We are now expecting for the price to consolidate a little bit, gain some momentum and keep rising. The target will be set at a zone of resistance identified on the chart which aligns with the 50% Fibonacci retracement level. Follow the principles of risk management and trade safely, fam!
Long
by Investroy
14
EUR/GBP, a beautiful channel formed. What's the next move?As we can see from the higher timeframe charts, the price has been trading up and down within the borders of a descending channel. A strong bullish candle which was printed last week showed that bulls are ready to push the price up right till the upper boundary of the channel. We are now waiting for a small correction of the printed bullish candle before we go long on this pair and aim for the area identified on the chart. We are gonna be eyeing the previously broken zone of resistance which aligns with the 0.5 Fibonacci retracement level as our potential entry level. Happy trading week, family!
Long
by Investroy
4
ETHEREUM (ETH/USD): detailed outlookAs we can see from the graphical illustration, ETH has found strong resistance at the area of the previous ATH. The price is stuck and ranging between the powerful level of resistance and the previous Lower Timeframe Higher High. We should patiently wait for the consolidation phase to end before taking our next step. If the price manages to break the level crucial resistance, we will expect for the price to continue rising. On the contrary, if the price breaks the previous Higher High and re-tests the structure, we will be aiming for Sell positions. On the long run, our prediction is still bullish. However, as the price has reached the zone of the previous ATH, some drop is needed before further upside movements happen.
BITSTAMP:ETHUSD
by Investroy
29
GOLD, detailed breakdown and next stepsThe price is currently located at the lower boundary of the uprising range. We will closely monitor the price action and open positions for GOLD after enough confirmations have been provided. If the price manages to break the lower boundary of the channel and re-test the broken structure, we will be looking forward to opening SELL positions and aiming for the area identified on the chart. On the other hand, if the price forms a nice bottom and prints powerful bullish candles, we will be opening long positions and aiming for the $1830 zone of crucial resistance.
OANDA:XAUUSD
by Investroy
24
EUR/USD, more downside movement is expectedThe US dollar is really powerful and it is not showing any mercy. As it can be inferred from the H8 timeframe chart, a massive bearish candle was printed earlier today, which nicely rejected the area of Weekly resistance. Going deeper into it, it can be noticed that a Head and Shoulders pattern is being formed. We are patiently waiting for the right shoulder to be formed, before we can open Sell positions and aim for the area identified on the illustration
Short
by Investroy
38
GBP/JPY, time to take a nap The price has been growing without any signs of stopping for the past few days. After a massive impulsive move is completed, a decent correctional move is needed. It can be inferred from the chart, that the bears are slowly but steadily stepping into the game and attempting to drive the price down. Therefore, we are waiting for the price to form a nice top, before we open SELL positions and aim for the zone identified on the chart, which is a strong level of previous resistance turned support that also aligns with the 0.5 Fibonacci retracement level.
Short
by Investroy
14
GOLD, detailed breakdown and next targetThe sentiment of the GOLD market is clearly bullish. As we can observe from the graph, after series of long and dull consolidations, a massive candle was able to break the upper boundary of the sideways moving range last week. The price dropped again right after, in order to correct the massive bull candle and re-test the area of the broken resistance. Now, as we can see from the chart, the price is currently testing a zone of previous resistance turned support on lower timeframes, which also aligns with the golden fibonacci ratio. We are now waiting for the price to carefully retrace this zone and form a nice mini-bottom, before we open long positions and aim for the previous Higher High. Happy trading, family!
OANDA:XAUUSDLong
by Investroy
24
AUD/JPY, an important area of resistance has been reachedAs it can be inferred from the chart, the price has been growing without stopping. At the moment, the price is located at a very important level of supply. We will be closely monitoring the market and letting the price form a beautiful top, before going short on this pair. Our target price will be set at an area of previous resistance now turned support, which aligns with the 0.5 Fibonacci retracement level. Happy trading, everyone!
Short
by Investroy
5