Swingtrader
Dollar Index (DXY): Waiting For Important Decision💵
Dollar Index is approaching an important zone of confluence on a daily
that is based on a falling trend line and a horizontal structure resistance.
If the price breaks and closes above them both on a daily, I will expect a bullish continuation at least to 102.7.
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EURUSD: 2 Scenarios Explained 🇪🇺🇺🇸
Important fundamentals are coming.
Watching the current state of affairs on EURUSD, I see 2 potential scenarios.
Bullish
The price keeps setting equal highs, perfectly respecting 1.1045 - 1.1095 resistance.
If the price breaks and closes above that, I will expect a bullish continuation to 1.116 level.
Bearish
The price keeps setting higher lows, respecting a rising trend line.
If the price breaks and closes below that, a bearish continuation will be expected to 1.1093 level.
Wait for a breakout, traders.
What do you expect?
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Dax Index: Breakout & Bullish Continuation
Important breakout on Dax Index.
The market broke and closed above 15600 - 15700 supply cluster,
the broken structure turned into a demand zone.
I will expect a bullish continuation from that to 16100 level.
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GBPJPY May Keep Growing! Here is Why: 🇬🇧🇯🇵
GBPJPY is trading in a bullish trend on a daily, perfectly respecting the boundaries of a rising parallel channel.
For some time, the price was respecting a wide horizontal supply area within the channel.
It was finally broken this week.
I believe that it may trigger a bullish continuation on the pair.
Next goal for buyers will be 168.7
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AUDNZD: Classic Breakout & Bullish Outlook 🇦🇺🇳🇿
AUDNZD broke and closed above a key horizontal supply area on a daily.
1.077 - 1.081 resistance turned into a demand zone now.
It looks like we see its retest soon.
A bullish impulse will be expected to 1.087 level then.
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GBPNZD: Expecting One More Bullish Wave 🇬🇧🇳🇿
GBPNZD is trading in a bullish trend on a daily.
The price has been recently testing a wide horizontal supply area.
It was finally broken this week.
The broken structure and a rising trend line now compose the buy zone.
I will expect a bullish continuation from the underlined green area.
Next goal - 2.02
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Dollar Index (DXY): Bearish Outlook Explained💲
Dollar Index is trading in a minor bearish trend on a daily.
The market is steadily falling within a falling parallel channel.
The market is currently approaching a very important confluence point based on a resistance of the channel
and a broken horizontal resistance.
I believe that chances will be high to see a bearish move from the underlined zone to 101.0 level.
Alternatively, remember that a bullish breakout of the resistance of the channel will initiate a correctional movement on the index.
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Nasdaq-100 Index (US100) Waiting For Breakout
Nasdaq Index is stuck between 2 solid structures.
Depending on the reaction to the underlined areas, I see 2 potential scenarios.
1 - Bullish
If the price breaks and closes above 12700 - 12900 supply cluster on a daily,
I will expect a bullish movement at least to 13130
2 - Bearish
If the price drops and closes below 12300 - 12500 demand area on a daily,
I will expect a selloff to 11900
Wait for a breakout, it will show us the future direction of the market.
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CHFJPY: Bullish Continuation Pattern 🇨🇭🇯🇵
CHFJPY is trading in a minor bullish trend on a daily.
The price was accumulating for 3 weeks within an ascending triangle formation.
Its resistance was broken on Friday, we see its retest now.
I expect a bullish continuation to 148.3
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EURCAD: Important Breakout & Bullish Outlook Explained 🇪🇺🇨🇦
EURCAD was consolidating within a wide horizontal trading range on a daily for 3 months.
Its resistance was finally broken. The price closed above that on Friday, forming a high momentum
bullish candle.
I believe that the pair will go much higher now.
The next strong resistance - 1.489
Probabilities are high that it will be reached soon.
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CADJPY: Classic Trend-Following Setup 🇨🇦🇯🇵
CADJPY broke and closed below a support line of a bearish flag pattern.
Taking into consideration, that the pair is trading in a bearish trend,
that violation may trigger a sell off.
I expect a bearish continuation to 97.05 / 96.1
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Break & RetestPrice broke the 1.19250 area on Tuesday and is now back for a retest from below. Should the level prove to be resistance and show signs of weakness this could be another opportunity to hop onto the trend and ride the momentum. If New York fails to drive the movement today, tomorrow is filled with Fundamentals including NFP which could be the catalyst to close the week with what could be an even weaker Pound.
Is the Top in ?Bitcoin currently holding just above 21.500. Topping pattern looks like it may now be complete with a double top formation. Buyers may once again attempt to regain control at 21.500 which could result in a temporary bounce hence creating a trap for longs. Big events happening in the crypto space on Friday which could trigger a market collapse.
Break or Bounce?Price is once again creeping towards support for a 5th attempt by the sellers to push lower. Despite numerous attempts, the buyers have successfully defended the zone since December 2022. Are we going to see another bounce or have the sellers now gathered enough momentum to break out of consolidation.