NZDCAD: Bearish Trend Will Continue 🇳🇿🇨🇦
NZDCAD is trading in a long-term bearish trend.
However, the market was consolidating the entire August within a horizontal range on a daily.
The support of the range was finally broken last week.
It is an important sign of strength of the sellers, and it indicates a highly probable bearish continuation.
The prices may go lower at least to 0.7936 support
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Swingtrader
CADCHF: Your Detailed Trading Plan 🇨🇦🇨🇭
Take a look at CADCHF.
The pair broke and closed above a key daily resistance last week.
The price is currently consolidating with a narrow horizontal range, retesting the broken structure.
Your intraday bullish confirmation to buy will be a bullish breakout of the resistance of the range.
4H candle close above 0.6643 will confirm the violation.
A bullish continuation will be anticipated to 0.6655 / 0.6665 levels then.
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CADCHF: Bullish Pattern & Important Breakout 🇨🇦🇨🇭
CADCHF formed a cup & handle pattern on a daily time frame.
The neckline of the pattern was broken yesterday.
It now turned into a strong support.
The market may go much higher now.
Next resistance - 0.66
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EURCAD: Important Breakout 🇪🇺🇨🇦
EURCAD broke and closed below a support of a horizontal range
and a rising trend line.
The violation of both horizontal and vertical key structures is an important sign
of strength of the sellers.
The prices may go much lower now.
Next support - 1.4505
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NZDJPY: Your Trading Plan Explained 🇳🇿🇯🇵
Update for NZDJPY.
The price formed an ascending triangle formation on a 4h time frame.
To buy with a confirmation, wait for a bullish breakout of 0.8707 - a neckline of a triangle.
4H candle close above that will confirm a violation.
A bullish continuation will be expected to 0.8746 / 0.877
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AUDCHF: Important Resistance to Watch 🇦🇺🇨🇭
AUDCHF is trading in a long term bearish trend.
After setting a new lower low, the market is correcting within an expanding wedge pattern.
Ahead, I see a significant supply cluster based on a major falling trend line and a horizontal resistance.
The next trend-following wave may initiate from that.
Your bearish confirmation will be a bearish breakout of the support of the wedge.
Daily candle close below will confirm the violation.
A bearish movement will be expected to 0.5626 then
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NZDJPY: Classic Swing Long Setup 🇳🇿🇯🇵
NZDJPY is trading in a long term bullish trend.
After setting a new high, the market retraced to a major rising trend line.
The price formed a cup and handle pattern,
bounced, violated a resistance line of a falling wedge pattern
and closed above a horizontal neckline.
Feels like, bullish trend will continue.
Goals: 87.77 / 88.28
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EURJPY: Consolidation & Complete Indecision 🇪🇺🇯🇵
EURJPY is currently trading within a narrow horizontal range on a daily.
Depending on the side of a breakout, I see 2 potential scenarios.
Bullish Scenario
If the price breaks and closes above 159.5 resistance on a daliy,
I will expect a bullish movement at least to 160.5 level.
Bearish Scenario
If the market violates 157.4 support and closes below that,
a bearish movement will be anticipated to 156.1 level.
As always, breakout is the best confirmation,
so wait patiently for that.
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EURUSD: Your Detailed Trading Plan For Next Week 🇪🇺🇺🇸
EURUSD is currently trading between 2 solid key levels.
Depending on the reaction of the price to these structures,
I see 2 potential scenarios next week.
IF the price breaks and closes above 1.094,
I will expect a bullish movement at least to 1.101.
IF the price violates 1.083 support and closes below that,
a bearish continuation will be anticipated to 1.079
The main catalyst next week will be Powell's speech.
Pay close attention to this news and wait for a breakout.
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Dollar Index (DXY): Consolidation Continues 💸
Dollar Index in consolidating within a horizontal trading range on a daily.
Depending on the reaction of the price to its boundaries,
I see 2 potential scenarios.
Bullish Scenario
If the price breaks and closes above 102.85 resistance on a daily,
I will expect a bullish continuation to 103.3 area.
Bearish Scenarios
If the price breaks and closes below 101.35 support,
a bearish movement will be expected to 100.6 level.
As always, the best strategy to follow is to wait for a breakout.
For now, it feels like the market will keep staying within the range though.
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CHFJPY: Bullish Trend Continues 🇨🇭🇯🇵
CHFJPY is trading a long-term bullish trend.
After the price set a new high in July,
it started a correctional movement.
A cup & handle pattern was formed.
CPI report was a trigger for the buyers to violate the neckline of the pattern.
Daily candle closed above that.
It signifies that bullish trend will continue.
The market will most likely keep growing.
Next resistance - 166.5
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EURCAD: Bullish Outlook Explained 🇪🇺🇨🇦
EURCAD is trading in a bullish trend.
After the price set a new high in July, the market started a correctional movement.
The price perfectly respected 1.45 support.
A strong bullish wave initiated from that and the market managed to violate a local
horizontal resistance.
It will most likely trigger a further bullish continuation.
Next goal - 1.4835
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USDCAD: Potential Bullish Scenario Explained 🇺🇸🇨🇦
USDCAD is forming an ascending triangle formation on a daily.
1.3224 - 1.3244 is its horizontal neckline.
If the price breaks and closes above that on a daily,
it will be a strong bullish signal.
A bullish continuation will be expected at least to 1.335 then.
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EURJPY Ahead of ECB & BOJ Rate Decision 🇪🇺🇯🇵
EURJPY is trading in a long-term bullish trend.
After the price reached a 158 level, the market retraced to a rising trend line.
The market is approaching the highs again now.
Bullish breakout of the underlined blue area and a daily candle close above that
will be a strong trend-following signal.
A bullish continuation will be expected to 160 level then.
Alternatively, a bearish breakout of a trend line will be a strong bearish signal.
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EURJPY: Your Detailed Trading Plan For Next Week 🇪🇺🇯🇵
EURJPY is trading in a long-term bullish trend.
After it reached 158 level, the market started a correctional movement.
The price retraced to a rising trend line and bounced from that.
The market is retesting the current high now.
If the price breaks and closes above that on a daily,
it will trigger a trend-following movement.
A bullish continuation will be expected to 160.0 level then.
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AUDCHF: Important Breakout & Bearish Continuation 🇦🇺🇨🇭
AUDCHF broke and closed below a major horizontal demand zone on a daily.
The broken structure turned into a resistance.
The market will most likely keep falling.
Next support - 0.575
For entries, consider an occasional retest of a broken structure.
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