Psychologicallevel
GBPJPY - Reversal At Key Level Here we have the 153.000 psychological level holding as resistance on GBPJPY, from which I anticipate price to sell off from.
I am mindful of a potential counter trend bounce, however if this area if broken we could see a drop to the highlighted target region of 131.500
This set up offers a nice risk:reward ratio with just a 40 pip stop above the key level. Let's see how this goes!
GBP/USD - Identifying Key Psychological LevelsHere we can see Cable trading in a range, the topside 1.40.
Previously, we've seen price tag and turn at 1.40 with sellers sitting at this whole psychological level!
Often you will find support and resistance levels coinciding with key psychological whole levels in the markets. Do some research and see for yourself!
EURUSD - Bearish correctionThe 1.20 psychological level is highlighted here as a significant area of support turned resistance, and although EU has been uptrending through April so far, price again appears unable to recapture the level.
I expect another push down from the zone in line with the daily descending trendline. 1.186 appears to be an appropriate first target area, let's see how this plays out!
GBPAUD - Another Push DownWe saw some bearish movement on GBPAUD yesterday however it appears a weak AUD caused a bullish reversal in the pair overnight. (I am currently in UAE timezone)
At the time of writing, the London session has just begun & we see price action indicating that another move down may be imminent. I observe a bearish doji followed by what appears so far to be an aggressive bear candle (lets see how this hour closes!). Price appears to have rejected the 1.80 psychological level also.
I am aware price appears to have broken the downtrend however if we observe a closure within the trendline then I will classify this as a fakeout.
We can then look for short entries to ride priced down to the previous swing low at around the 1.78200 level.
GBPUSD - BullishGBPUSD in a significant uptrend, with the pound showing strength today across the board. D1 timeframe illustrates the overall bullishness more obviously.
Price has managed to close above the H1 100 and EMA, and so 1.4000 seems reasonable to reach at some point today.
As illustrated on the chart, the 1.4000 psychological level is acting as a noticeable area of support/resistance. If momentum can break this then I believe we can move much higher. the 1.40857 area then appears to be the next level to watch.
Let's see how this plays out!
USD/CHF - Bulls eye break and rally up to 0.9000USD/CHF - Daily Chart -
Our blue daily key level is market at 0.9000 whole level.
We're expecting price to break our current 4 hr level during next week and rally up to test our blue highlighted level.
The green arrow shows the potential price path the pair could make in the longer term.
EURUSD - Huge Swing Potential!I have been waiting on this set up for a while now so I'm hoping the wait will have been worth it! Current market price at time of writing is 1.19450.
Huge swing trade set up here on EURUSD. Price has been so bullish over the last week due to USD's weakness and I did anticipate it reaching the yearly high at the 1.20 psychological level (2020's highest price.) which it has. I am religiously seeking out these strong levels in my trading due to their reliability to make strong rejections.
As anticipated, price has begun to reject and start to sell off. We also have a falling wedge pattern that should break, if momentum can sustain. If so, we could see a nice swing trade down to the bottom of the range in the 1.16000's
The risk to reward ratio on this trade is excellent, stops can be placed above the psychological level around 1.20200 which is little risk for such a great potential reward.
Let's see how this plays out! if price does return to the 1.20's then I won't be too disheartened as the R:R here is too good to miss!
NZDUSD Buy Idea Based On Multi-timeframe AnalysisD1 - Price has broken above the psychological level 0.68 and is holding above it.
Expecting the price to continue higher further.
H4 - Price has broken above the alternative trend line.
Until the strong support zone holds my view remains bullish here.
EURUSD - Head and ShouldersA head and shoulders pattern appears to have formed on the EUR/USD H1 timeframe. (Illustrated with L/H/R annotations)
The neckline of this pattern rests on the 1.18 psychological level. I believe, upon breaking this we should see a push down to the July-November swing low at around the 1.16 psychological level. EURUSD appears to be respecting these levels very well as I have noted on my chart.
Waiting for a clean break of the 1.18 with some strong selling momentum to confirm continued bearishness. Fundamentals this week will likely be the catalyst if so.
Stops can be placed above the right shoulder - great R:R on this nice potential swing trade!
Pullback To The Upside???Welcome back traders. Share My Analysis If You Agree :)
Despite the big push to hell, Gold has been consolidating all week. Price found a strong level of support near $1875, which just so happens to be a key psychological level. A correction has to be made before another push to the downside. I predict a rally towards $1895 following a breakout of the zone around $1884 and a new high. Bullish momentum could lose steam along the process, so I applied a resistance level that showed dominance on the Daily Time-frame. ($1891)
Comment Your Bullish or Bearish ideas on Gold
EURUSD - Multiple Bearish Technical and Fundamental Confluences EURUSD is currently extremely bearish.
From a fundamental perspective the rising Covid cases in the Eurozone are weighing heavily on the Euro, which can be observed across most EUR pairs.
Technically on EURUSD here we have a broken head and shoulders neckline in addition to a break of the 1.17000 psychological level. The next support zone on EU is around the 1.16100 level, September's low..
I can't see much stopping the fall if the fundamental pressure on Euro continues.
USDCAD - Break of UptrendStill Bearish on USDCAD
Price has broken the uptrend and we may see a move back down to retest the previous resistance area at around the 1.32000 psychological level. 60+ potential pips!
EURUSD Daily - Correction NeededBy observing the D1 TF we can see EURUSD appearing to stall around the 1.20 psychological level. Yesterday's daily closure showed a lovely wick rejection also.
EURUSD has been uptrending for some time and we may witness a correction to the previous D1 resistance. 400+ pips potential on this longer term trade.
USDJPY - Swing shortUSDJPY appearing to come to a halt at the 107.000 psychological level/reversal zone.
Price appears to be breaking the recent uptrend and I believe we will see a further decline down to the July low at around the 104.100 area.
The price action on the Daily timeframe also shows significant indication of a reversal (yesterdays spinning top closure)
USDJPY - Break & retest of the 106 psychological level completeLast month we saw the break of the all important 106.000 psychological level support zone.
Price had recovered from the subsequent drop in price, however I believe we are experiencing a break and retest scenario of 106 and will see further decline back to the previous swing low, at least, if not further.
Yesterday's daily closure signified a slowing in bull momentum (long upper shadow/wick) which I anticipate will be the reversal point for the incoming drop.
Price is consolidating on the lower timeframes so I will be monitoring closely in hope of a break to the downside.
USDCAD - Range to break out to the downside Expecting USDCAD to break to the downside of the current range. My earlier idea published for a sell limit was cancelled as price began to fall.
I now look to enter a short on breakout. Looking to take profit at the next level of support.
Great R:R, stops can be placed above the psychological level at around 1.35200!
AUDUSD| WHEN TO SELLGood Afternoon Traders,
A couple scenarios for you all,
potentially we are in ascending channel as illustrated by the dotted trend lines, the highlighted area is my area of interest will Price action push into this area and reject or will we get a strong bullish candle close,
ideally for me if we do ill be looking for a further push out of that area and a potential entry, given that price action confirms it.
alternatively, we could correct to the side as illustrated and potentially to the upside completing a larger channel or it could start spilling out to side, we will wait for price action to confirm what it wants to do.
Let me know your thoughts.
USDJPY - Potential ShortA potential short opportunity may arise for USDJPY at the 107.400 level.
Confluences here will be a rejection of the descending trendline, in line with the 100/200 EMA, and the previous support zone.
We may experience an initial drop to the 106.635 area ('TP1'), with a second target around the 106 psychological if momentum is strong.
Let's see how this plays out, and if confirmations are present we can look to enter a short position on this pair.
SiFi4X Zone Setup - set it & forget itPair: EUR/USD
Period: 4H
Classic setup on the euro with as we move away from the 1.1300 psychological level to the bottom of the SiFi zone at 1.275. Confirmation with break trend line.
Short entry at 1.1275
Stop at 1.1315
Take profit at 1.1200
Move stop to break even at 1.1250
EURJPY - Break to Daily low?EURJPY downtrending on higher TF with yesterday's daily candle (spinning top) indicating slowing momentum from last Thursday's bull run (up from a 3 year daily low) and a potential reversal. Further indication of this is the observed rejection of the D1/H4 downtrending TL.
On H1 we observe price being supported at the 116 psychological level. I am anticipating a break and potential retest of this level to go short.
Targeting the daily low for a potential 150 pip move.
LONG GBP/USD.LONG GBP/USD, ***IF there is a clear rejection at the monthly key level 1,20000 (psychological level), wich should act as resistance. Also, the market is overextended (seen on the RSI). IMPORTANT : I am only showing an analysis on one of the many timeframes that I use.
