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Price Outlook - USDCAD - 8HThe pair is within a bullish flag and is currently testing the resistance of the flag. The last candle pattern on the pair seems to be a three line strike, if the pattern follows through we may see the pair rally towards the next resistance zone then attempt to break back into the wedge with the aim of testing its resistance. If the patterns fails we could see the pair drop towards the support zone and decline towards the next major key level. If you liked this price outlook make sure to give us a thumbs up, leave us a comment and make sure to follow us for outlooks 👍❤
by JJForexAcademy
Price Outlook - GBPJPY - 8HA week of deception was brought by this pair and it looks to have created a declining channel with it. Possible outlook would be that a break above the channel could rally the pair to break the resistance of the ascending channel and enter within the resistance zone. Whereas a break below could see it head towards the support of the ascending channel. If you liked this price outlook make sure to give us a thumbs up, leave us a comment and make sure to follow us for outlooks 👍❤
by JJForexAcademy
MULTI-TIMEFRAME ANALYSIS - GBPJPY1W Analysis As expected the pair headed to re-test the 1W resistance along with its resistance zone but failed to break either of them. If the pair were to follow suit from our previous analysis we could see the pair break both resistance zone and resistance of the 1W descending triangle then head towards the next resistance zone. 1D Analysis The pair closed as a bullish spinning top after being rejected by the 1W resistance zone but above the 1D resistance turned support zone. A successful bounce off the 1D support zone could case the pair head towards the 1W resistance zone once more and potentially break it. However if the pair fails to gain enough momentum we could see the pair fall towards the support of the 1D ascending channel. 8H Analysis The pair recently closed within a 8H ascending channel after being rejected by the 1W resistance zone but seems to have bounced off a 8H support zone. The rejection from the 1W resistance zone could be the 4th cycle of the Elliott Motive Wave and the bounce off the 8H support zone could be the start of the 5th cycle. A break below the 8H support could indicate that the 4th cycle of the Elliott motive wave is not yet over and is extended into a corrective wave. However if the pair gains enough momentum we could see the pair break the resistance of the channel and in turn possibly break the 1W resistance zone. 4H Analysis The pair closed its last candle as a bullish spinning top and the candle prior as a hammer after bouncing off the 8H support zone, this could be an indication of a potential buy. If the pair closes above the last LH structure of the pair we could see a further buy. However a close below the 8H support zone could see a further decline on the pair towards the trend line resistance turned support. 2H Analysis The pair closed above the 8H support zone and can be seen getting rejected by it after closing its last low higher than the previous which closed within the 8H support zone. This could be an indication of a structural change from LL/LH to HH/HL. A close above the last high could indicate a but heading towards the 1W resistance, whereas a close below the last low could be an indication that the pair could be heading to re-test the resistance turned support of the pennant in recently broke out of. Conclusion Monitor the pair on the 2H and 4H timeframe to see exactly what the pair does and how it coincides with the 8H, 1D and 1W in order to make an accurate trading decision. If you liked this analysis make sure to give us a thumbs up, leave us a comment and make sure to follow us for future ideas 👍❤
by JJForexAcademy
MULTI-TIMEFRAME ANALYSIS - GBPUSD1W Analysis The pair made an upwards move into the resistance zone identified last week before getting rejected and closing as what seems to be a shooting star candle. If the pair fails to gain momentum to re-test the zone we might see it fall towards the support zone identified last week. However a break above the resistance zone would see the pair rally towards the next resistance zone above it. 1D Analysis The structure of the 1D chart is unchanged, with the last candle closing above the 1D resistance turned support zone even after being rejected by the 1W resistance zone. The pair would need to close below the 1D resistance turned support zone in order for a definite sell to occur. 8H Analysis The pair can be seen within an ascending channel and seems to have closed its last candle reasonably close to its resistance after bouncing off the 8H support zone. A break above the channel's resistance could see the pair rise towards the 1W resistance zone. A rejection however would see the pair head to re-test the 8H support zone and possibly break below it and head towards the support of the channel. 4H Analysis The pair closed within a 4H resistance zone and seems to have closed as a hanging man, the candle that follows would need to confirm that the pair is indeed going to decline if not we could see the pair break the 4H resistance zone and ultimately break the resistance of the 8H ascending channel. 2H Analysis The can be seen within a 2H ascending channel and seems to be creating a HH/HL structure. The structure however seems to have lost momentum as it approached the 4H resistance zone. A close below the last HL would in turn cause the pair to be rejected by the 4H resistance zone starting a new LL/LH structure. However a close above the 4H resistance zone could indicate a further buy. Conclusion Monitor the pair on the 2H and 4H timeframe to see exactly what the pair does and how it coincides with the 8H, 1D and 1W in order to make an accurate trading decision. If you liked this analysis make sure to give us a thumbs up, leave us a comment and make sure to follow us for future ideas 👍❤
by JJForexAcademy
MULTI-TIMEFRAME ANALYSIS - DXY1W Analysis The pair closed its previous candle below the 1W trend line support and seems to be testing the 1W support zone. A break below the support zone could indicate a further sell towards the next zone. A break above the trend line support turned resistance could see the price rally towards the 1W support turned resistance zone. 1D Analysis The pair recently broke out of a pennant and previously closed within the 1W support zone. A rejection from the 1W support zone could see the pair head to re-test the support turned resistance of the pennant. 8H Analysis The pair recently broke out of descending channel and seems to be getting rejected from the 1W support zone. The previous candle closed as bullish spinning top so it might be an indication that the pair might be heading for a re-test of the channel. 4H Analysis The pair last closed as a spinning top just like on the 8H timeframe, a close of the current candle above the 1W support zone might be the confirmation for a buy till the pair re-tests the 8H channel. Conclusion Monitor the pair on the 4H and 8H timeframe to see exactly what the pair does and how it coincides with the 1D and 1W in order to make an accurate trading decision. If you liked this analysis make sure to give us a thumbs up, leave us a comment and make sure to follow us for future ideas 👍❤
TVC:DXY
by JJForexAcademy
MULTI-TIMEFRAME ANALYSIS - USDCAD1W Analysis The pair recently broke back into the symmetrical triangle and seems to be testing its support. A break below the support could see a further decline in the pair. If the pair fails to break the support we may see it break the symmetrical triangle resistance and head towards the trend line support turned resistance. 1D Analysis The pair recently broke the support of a 1D symmetrical triangle along with a trend line support, with the last candle closing as a doji above the 1D support zone. A break below this support zone would indicate a further decline in the pair, a break above the trend line support turned resistance might indicate a rally might occur. Ideally the candle proceeding the doji should be doji for a rally to be plausible. 8H Analysis The pair recently broke out of a 8H symmetrical triangle and currently closed above the 1D support zone. The last candle closed as a doji which might be an indication for a potential buy. If the candle proceeding the doji closes bullish it might be an indication for a buy position and a rejection from the 1D support zone. The pair breaking below the support zone may cause a further decline in the pair. 4H Analysis The pair can be seen within a descending parallel channel. A break above would indicate a rejection of the 1D support zone whereas a break below could result in the break of the 1D support zone. 2H Analysis The pair last closed as a marubozu open and seems to be heading towards the 2H resistance zone. A break above the resistance zone could result in a rally in the pair, whereas a rejection could see the pair break the 1D support zone. Conclusion Monitor the pair on the 2H and 4H timeframe to see exactly what the pair does and how it coincides with the 8H, 1D and 1W in order to make an accurate trading decision. If you liked this analysis make sure to give us a thumbs up, leave us a comment and make sure to follow us for future ideas 👍❤
by JJForexAcademy
MULTI-TIMEFRAME ANALYSIS - GBPJPYThe pair can be seen inside an ascending parallel channel and seems to be testing its support on the 1W timeframe. The last candle seems to have closed as an inverted hammer. 1W Analysis The pair is currently testing the support of its ascending channel and last closed as an inverted hammer. Besides the ascending channel the pair can be seen within the descending triangle identified in our previous analysis. We can expect the pair to head towards the resistance of the triangle as it seems to have had trouble breaking below the support of the ascending channel. If the pair does however break below the support of the channel then we can expect it to head towards the support of the descending triangle. 1D Analysis The pair can be seen on the support of the 1W ascending channel, the last candle closed as a hanging man after the prior candle closed bullish. If the pair fails to close below the 1W ascending channel then we may see the pair head towards the trend line support turned resistance. 8H Analysis The pair can be seen within a symmetrical triangle and seems to be testing a trend line resistance. The last candle closed as a bullish candle with the prior closing as a bearish spinning top, this might be an indication that the pair might be heading towards the resistance of the symmetrical triangle which would mean that it would break the trend line resistance. If the pair fails to break the trend line resistance then we may see the pair head towards the symmetrical triangle, which if it successfully breaks we may see the pair head towards the 1W support zone. 4H Analysis The pair can be seen within a descending parallel channel along with the 8H symmetrical triangle. The pair seems to have tested a resistance zone multiple time but couldn't break it. If the pair breaks the resistance zone then it will ultimately break the resistance of the descending channel and head towards the resistance of the 8H symmetrical triangle. If the pair however heads to test the support of the descending channel then it may break the support of the 8H symmetrical triangle, then possibly test the 1W support zone. 2H Analysis The pair recently broke out of a symmetrical triangle within the 4H descending channel. We can expect the pair to head towards the 4H resistance zone and 4H descending channel resistance, a successful break could see the pair head towards the trend line support turned resistance. However a rejection of the 4H resistance zone and 4H descending channel resistance could see the pair head towards the support of the 4H descending channel which could lead to it possibly testing the 1W support zone. Conclusion Monitor the pair on the 2H and 4H timeframe to see exactly what the pair does and how it coincides with the 8H, 1D and 1W in order to make an accurate trading decision. If you liked this analysis make sure to give us a thumbs up, leave us a comment and make sure to follow us for future ideas 👍❤
by JJForexAcademy
MULTI-TIMEFRAME ANALYSIS - GBPUSDWhat a busy week for GBPUSD. The pair managed to successfully bounce off the 1D descending channel, bullish flag, and entered within the 1D disjoint channel resistance from our previous analysis and seems to be heading towards its resistance. You may check our previous analysis by clicking the related idea below. 1W Analysis The pair seems to have bounced off the 1W support zone, and seems to be heading towards the major resistance zone. A break above the resistance zone would cause the pair to rally even further and possibly test the next resistance zone. 1D Analysis The pair seems to be testing a minor 1D resistance zone after bouncing off the 1W support zone. The Friday candle closed as a hanging man after the two candles prior to it tested the resistance zone. If the pair closes above the 1D resistance zone we could see a further rally in the price and possible a break of the 1W resistance zone in order to re-test the 1D ascending channel. However, if the pair fails to break above the 1D resistance zone then we may see the pair decline towards 1W support zone once more. 8H Analysis The pair recently broke its trend line resistance and seems to be testing the support turned resistance of the 8H ascending channel it recently broke out of. A close inside the channel may indicate that the pair would be heading towards its resistance which is also within the 1W resistance zone. If the pair fails to close inside the channel, gets rejected, we may see a decline towards the trend line resistance turned support and a close below it would see the pair drop towards the 1W support zone. 4H Analysis The pair seems to be having trouble with the resistance caused by the 8H ascending channel. The last candle closed as a doji so we would need to see the close of the next candle to have an idea as to what the pair might be doing. 2H Analysis The pair seems to have closed above a 2H resistance zone with the last candle closing above it and testing it with its low. This could be a possible indication that the pair might be looking to continue with a rally. This would cause the pair to then enter back within the 8H ascending channel. Conclusion Monitor the pair on the 2H and 4H timeframe to see exactly what the pair does and how it coincides with the 8H, 1D and 1W in order to make an accurate trading decision. If you liked this analysis make sure to give us a thumbs up, leave us a comment and make sure to follow us for future ideas 👍❤
by JJForexAcademy
MULTI-TIMEFRAME ANALYSIS - GBPJPY - BUY UPDATEThe pair seems to have broken the 4H descending channel and re-tested the structure with its previous close. We can expect the buy to continue towards the support turned resistance of the 4H symmetrical triangle. Suggested Trades Buy Entry: 136.000 TP 1: 137.000 (support turned resistance level of symmetrical triangle) TP 2: 137.900 (high of symmetrical trtangle) SL: 135.300 (support of descending channel) If you liked this signal make sure to give us a thumbs up, leave us a comment and make sure to follow us for future signals 👍❤
Long
by JJForexAcademy
MULTI-TIMEFRAME ANALYSIS - GBPJPY - BUY UPDATEThe pair headed to re-test the support turned resistance of the 4H symmetrical triangle before being rejected and falling within the support zone along with testing the trend line support. If the pair fails to break both support then we may see the pair head back up towards it last high and attempt to push beyond it. If the pair however breaks both support then we may see the pair fall back into the descending channel. Suggested Trades Buy Entry: 136.000 TP 1: 136.650 (last real body high) TP 2: 137.350 (last wick high) SL: 135.500 (lower level of support zone) OR Sell Entry: 135.500 TP 1: 135.000 (resistance turned support of descending channel) TP 2: 134.350 (lower support of descending channel) SL: 136.000 (upper level of support zone) If you liked this signal make sure to give us a thumbs up, leave us a comment and make sure to follow us for future signals 👍❤
by JJForexAcademy
2
MULTI-TIMEFRAME ANALYSIS - GBPJPYGBPJPY recently broke out of its rising wedge pattern on the 1W timeframe and seems to have successfully re-tested the structure. 1W Analysis Overall the pair can be seen within a descending triangle and can be seen around its resistance. Within the descending triangle there is also a rising wedge structure that the pair recently broke out of. The pair seems to have re-tested the wedge's support turned resistance along with the descending triangle's resistance before pulling back. The candle prior to the current week seems to have closed as an inverted hammer which was meant to indicate a potential upside to follow but the current week's candle seems to have been a bearish candle which might indicate that the inverted hammer failed. The current week's candle however seems to have gotten slightly rejected by the weekly support zone. The pair might attempt to re-test the zone and attempt to break it or it might head to retest the resistance of the descending triangle. 1D Analysis The recently broke out of a symmetrical triangle structure but seems to have been rejected by a trend line support along with the 1W support zone. Friday's candle closed as a hammer which might indicate that the pair might push back upwards. Thursday's candle however closed as a doji which indicated indecision, so if the pair does push upwards due to Friday's candle then we can expect the pair to break back into the symmetrical triangle and then attempt to re-test the 1W descending triangle resistance. If the Friday's candle however fails to cause the pair to move upwards, we can then expect the pair to drop and re-test the 1W support zone and possibly break it. 4H Analysis The pair recently broke out of a symmetrical triangle structure to the downside, it can also be seen within a descending parallel channel and the last candles close is right on its resistance. The resistance of the channel was tested by the last three candles of the pair, with the second last being a bearish spinning top and the last candle closing as a somewhat inverted hammer. If the pair fails to break the resistance we can then expect it to drop towards the support of the channel and the 4H support zone, if it successfully breaks both then we can expect a further sell-off, if the pair however gets rejected then we can expect it to re-test the channel's resistance and attempt to break it. 1H Analysis The pair seems to have broken out of the descending broadening wedge structure but is still contained within the 4H descending parallel channel. The second last candle closed as a hanging man after its break of the descending broadening wedge structure, this might be an indication that the pair might fall back within the structure. The last candle closed as a bearish candle right on the descending broadening wedge structure which should serve as the sell confirmation, if the pair successfully breaks back into the descending broadening wedge structure we can expect it to drop towards the 4H support zone. However if it fails to break back into the descending broadening wedge structure then we can expect the pair to rally towards the support turned resistance of the 4H symmetrical triangle. Conclusion Monitor the pair on the 1H timeframe to see exactly what the pair does and how it coincides with the 4H and 1D in order to make an accurate trading decision. If you liked this analysis make sure to give us a thumbs up, leave us a comment and make sure to follow us for future ideas 👍❤
by JJForexAcademy
MULTI-TIMEFRAME ANALYSIS - XAUUSDXAUUSD, Gold, recently tested its support zone on the 1D timeframe. It seems to have been rejected by rejected though. 1D Analysis The Friday candle closed as a bullish candle after testing the support zone with the previous days candle. The pair can be seen inside a descending parallel channel, bullish flag. Within that bullish flag the pair was also within a smaller bearish flag that it recently broke out of which initiated the sell after its re-test. The pair might be heading to re-test the resistance of the bullish flag if it doesn't gain enough selling pressure to re-test the support zone and eventually break it. 4H Analysis The pair closed its last 4H candle as a bearish open marubozu which indicates lack of selling pressure towards the close of the candle. The two 4H candles preceding the bearish open marubozu had re-tested the support turned resistance zone before getting rejected. We can expect the pair to head towards the support turned resistance zone once again if it doesn't gain enough selling pressure to continue the downwards move. If it however does gain enough pressure then we can expect the pair to head towards its support zone by breaking the trend line support. 1H Analysis The pair can be seen within an ascending triangle which it attempted to break to the upside but got rejected by the 4H support turned resistance zone. After dropping back inside the ascending triangle the pair dropped into an ascending parallel channel, and seems to have tried to retest its resistance but was not successful. If the pair manages to break the channel to the upside it might result in it breaking the resistance of the ascending triangle, if not we might see the pair head to test the support of the channel which also turns out to be the support of the ascending triangle. A break below the channel might result in the pair heading towards the 4H support zone. Conclusion Monitor the pair on the 1H timeframe to see exactly what the pair does and how it coincides with the 4H and 1D in order to make an accurate trading decision. If you liked this analysis make sure to give us a thumbs up, leave us a comment and make sure to follow us for future ideas 👍❤
OANDA:XAUUSD
by JJForexAcademy
2
MULTI-TIMEFRAME ANALYSIS - GBPUSDGBPUSD recently broke out of its 1D descending parallel channel, which seems to be a bullish flag, it then re-tested the channel thrice with the last 1D candle closing as a bullish spinning top. 1D Analysis The Friday candle closed as a bullish spinning top after its retest of the 1D descending parallel channel, this could be a possible indication for a reversal to the sell trend prior to the bullish spinning top. A successful bullish spinning top might create a possibility where the pair heads to re-test the 1D disjoint channel resistance as it did prior to it starting the sell trend. This would however require the 1D candle to close above the support turned resistance of the disjoint channel as it closed on the support when retesting the descending parallel channel. 4H Analysis The pair closed its last 4H candle as a doji after testing the support zone it had trouble breaking below. This might be the indication that the pair is uncertain about breaking below the zone. The pair can be seen within another descending channel on the 4H timeframe. A break below the support zone could lead to a further sell-off on the pair, but for the 1D bullish spinning top to be valid it would need to break the zone of its last lower high. 1H Analysis The pair closed its last 1H candle as an inverted hammer which might be another indication to confirm the 1D bullish spinning top, but the previous candle closed as a bearish spinning top which indicates that the pair might drop. The possibilities are that the bearish spinning top might be to drop the pair towards the support zone where it might be able to gain some momentum before rallying all the way back up, or it might just break below the support zone and continue with its sell-off. Another possibility might be that the inverted hammer invalidates the bearish spinning top and the pair breaks the resistance zone then gaining momentum to carry on with a rally. Conclusion Monitor the pair on the 1H timeframe to see exactly what the pair does and how it coincides with the 4H and 1D in order to make an accurate trading decision. If you liked this analysis make sure to give us a thumbs up, leave us a comment and make sure to follow us for future ideas 👍❤
by JJForexAcademy
2