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Price-action-trading

Yemi_Fx1 | Bearish Setup on NZDUSD Hello folks, OANDA:NZDUSD is one of the pair I have on watchlist this week. NZDUSD has been trading within an ascending channel since . Price recently tested the 1HTF supply zone at 0.61584, a potential resistance zone. From Daily Timeframe: The pair is currently in a consolidation phase following a downtrend. We're expecting a continuation of trend on this time frame. However, on 1HTF we may experience a pause in price to provide a continuation pattern giving us an opportunity to join the train or we just wait for the complete break and retest of the structure to then go Short on it. If you found this helpful please support your fellow trader with a like.
Short
by Yemi_Fx1
USDJPY BULLISH : Target 117.00, PRICE BUILDING NICELY!My previous analysis indicated a bullish triangle pattern on the daily chart and the market is reacting as expected. Yesterday I shared a completed cycle of wave 1 with the market correcting, now we have that correction of wave 2 completed at the 0.382 fib level and the bullish trend is back. Based on Elliott Wave guidelines, Wave 3 should be very strong and not hug the trendline, also we should expect the terminus of wave 3 at the 200% zone is wave 3 is extended, and we are definitely seeing a potential of wave 3 extending. As always, your thoughts and feedback are always appreciated. Signed, Samore
Long
by wavefxacademy
EURUSD IS CORRECTING>>>> Bearish momentum is to be expected.I shared my analysis on this yesterday in the inked post. Once the market complete a 5 wave cycle it's only natural for us to expect the ABC correction, and currently we are getting just that. Wave B took the shape of a triangle patten and wave C is developing. We are likely to see a 5 wave impulse move here, but lets not get ahead of ourselves. I have labeled the 0.382, the 0.5 and the 0.618 levels as potential zones for wave 2 to end, but I wouldn't be surprised if we retest the lows of the highlighted zones. As always, let's see how this plays out, and I would love to hear your thoughts and feedback in the comments. Signed, Samore
Short
by wavefxacademy
1
Technical Updates on NZD/USD (Kiwi).The General Technical Overview of Kiwi is STRONGLY BEARISH On a Short-Term - On the 1H and 2H Chart This reveals that Kiwi is partly Bearish, with the price above the short-term Moving averages 21 and 50-day Moving averages (blue dot-line and black line), with a strong trend and momentum above these levels, this could result to much bigger corrective wave that might throw the bears off the market and incur another surge in the price of NZD/USD. On a Long-Term - On the 4H and 1D Chart The Pair is strongly Bearish with the long-term technical moving averages 50 and 200-day SMA (black and purple line) standing above the price level, with the Fibonacci levels measuring the recent correction to be below 0.5%. This is as good as it comes, unless the buyers are able to drive the price above these levels, the market is bearish and the next downward mark would be around the September low at 0.6860. Traders are to be on a lookout for RBNZ Rate Statement and Official Cash Rate coming up later today. Disclaimer: This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. This communication has been prepared based upon information, including market prices, data, and other information, believed to be reliable; however, the author does not warrant its completeness or accuracy. Trading CFDs involve risk and can result in loss of capital.
Short
by Adefxc
Technical Updates on DXY (Dollar Index)The general technical overview of DXY is Bullish , Following the price action and checking through the Moving averages technical tool used on the chart, it reveals that the price just got corrected from the last week surge and using the Fibonacci levels to track-measure the corrective wave, the price bounced back at the 0.382% level and this shows that the bulls are still very active in the market and they are willing to drive the drive the price back to the previous top at 94.50. That said, the bears are as active as the bulls but they are with lesser power, but if the buyers fail to push the price above the current psychology price level at 94.00 which also happens to be at the 0.236% fib level, the bears might use this psychological zone and turns it to a resistance zone, which might enable them to pull the market downward to probably the previous resistance level at 93.70. there is a possibility of this only of the seller mount up their selling strength and beat the bulls to it, before another rally toward the 94.50. Lastly, with the US NFP and Average Hourly Earnings news coming up on Friday, this could help the buyers anticipate for more buying opportunity, provided that the actual is hawkish as forecasted. Disclaimer: This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. This communication has been prepared based upon information, including market prices, data, and other information, believed to be reliable; however, the author does not warrant its completeness or accuracy. Trading CFDs involve risk and can result in loss of capital.
TVC:DXYLong
by Adefxc