Swingtrader
MarketBreakdown | EURUSD, BITCOIN, CRUDE OIL, EURGBP
Here are the updates & outlook for multiple instruments in my watch list.
1️⃣ #EURUSD daily time frame 🇪🇺🇺🇸
EURUSD is trading in a bearish trend on a daily.
The price is falling steadily within a falling wedge pattern.
With a recent correctional movement, the price reached the resistance of the range.
A trend-following movement may initiate soon.
Alternatively, a bullish breakout of the resistance of the wedge will trigger a trend reversal.
2️⃣ #BITCOIN daily time frame ₿
After a very bullish movement on Friday, the market violated a resistance line
of a falling wedge pattern on a daily.
It is the important sign of strength of the buyers.
Looks like the market may keep growing.
3️⃣ #WTI CRUDE OIL 🛢️
As I predicted, Crude Oil keeps falling.
The price is very close to 2 significant demand clusters.
Probabilities will be high to see a pullback from one of these structures.
4️⃣ #EURGBP daily time frame 🇪🇺🇬🇧
The price nicely respected a key daily horizontal demand zone
and bounced from that.
With a clear strength of the buyers the pair may keep growing easily.
Do you agree with my market breakdown?
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NZDUSD: More Growth is Coming 🇳🇿🇺🇸
Like US30 Index, NZDUSD looks very bullish on a daily.
The price formed a double bottom pattern and broke its neckline on Friday.
The next strong resistance is 0.606.
We can expect a bullish continuation to that area.
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NZDUSD: Important Breakout 🇳🇿🇺🇸
Today's fundamentals are very bullish for NZDUSD.
The price is currently forming a high momentum bullish candle on a daily,
violating a key horizontal resistance.
It opens a potential for a further bullish continuation next week.
Goal - 0.6058
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BTCUSD(BITCOIN): Small Correction towards 70k, And Drop to 52kHi Everyone,
BITSTAMP:BTCUSD our last analysis on bitcoin turned out to be in our favour price has been dropping ever since, in our view price can now make small corrections towards 69k to 70k and from there price can drop significantely towards major bearish impulse that will fill the liquidity gap in daily timeframe that price has left behind. Please note that, price may not make any corrections around our entry area and just keep dropping from the current area.
good luck.
USDJPY: Bullish Pattern Again?! 🇺🇸🇯🇵
Bulls look strong again on USDJPY.
After a presumable intervention, the market dropped by 500 pips on Monday.
The price formed a bullish triangle on a 4H time frame then.
At the moment, I see a confirmed violation of its neckline
The pair may keep growing at least to 158.35 now.
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An Ascending Triangle for MARICO!!!The ascending triangle is a bullish formation that usually forms during an uptrend as a continuation pattern!
For target measure the distance from the start of the pattern, at the lowest point of the rising trendline to the flat support line. That same distance can be transposed later on, starting from the breakout point and ending at the potential take profit level!
USDCHF: Your Trading Plan For Next Week 🇺🇸🇨🇭
USDCHF is trading in a long-term bullish trend on a daily.
The price is currently testing a key horizontal resistance.
I am waiting for its breakout - a daily candle close above, to buy.
Bullish violation of the underlined blue are will give us a strong bullish confirmation
that will push the prices at least to 0.92 level.
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EURJPY: More Growth is Coming?! 🇪🇺🇯🇵
EURJPY turned very bullish after a release of US PMI data today.
We see a new higher high higher close on a daily with a breakout
attempt of a key horizontal resistance.
Daily candle close above will confirm the violation.
A bullish continuation will be expected 166.5 then.
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AUDUSD: Potential to Go Lower 🇦🇺🇺🇸
AUDUSD broke and closed below a wide, significant horizontal demand
cluster on a daily time frame.
The broken structure turned into a supply zone now.
The next historical support is around 0.636 level.
It is most likely the next goal for the sellers now.
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CHFJPY: Important Bullish Breakout 🇨🇭🇯🇵
CHFJPY formed an ascending triangle formation last week.
Yesterday, the price bounced and formed a high momentum bullish candle.
It managed to break and close above the neckline of the pattern.
The pair may continue growing.
Next goal for buyers will be a falling trend line.
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USDJPY: Back to 1990's 🇺🇸🇯🇵
152.0 key horizontal resistance kept absorbing bullish
pressure for almost 2 years.
This week, with the release of CPI data, that structure was broken
and the market set a new very important higher high.
The next historical structure that we can find is based on the price
action in 1990th.
159.0 - 160.0 resistance cluster is the next, closest key resistance.
A recent bullish breakout opens a potential for a further bullish continuation to that
psychological structure.
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USDCHF: Important Breakout 🇺🇸🇨🇭
USDCHF broke and closed above a key daily structure resistance.
We see a positive bullish reaction after a retest of a broken structure.
Because the market is trading in a long-term bullish trend,
probabilities will be high that growth will continue.
Next resistance - 0.92
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GBPAUD: Massive Breakout 🇬🇧🇦🇺
GBPAUD broke and closed below a wide daily demand area last week.
We see a retest of a broken structure after a release of the yesterday's fundamentals.
I believe that the fall may continue from the underlined red area.
Goal - 1.913
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DOLLAR INDEX (DXY): Bullish Market & The Next Target 💵
As we discussed on a live stream, Dollar Index perfectly respected
a demand zone based on a recently broken horizontal structure and a trend line.
The price just set a new high, confirming the strength of the buyers.
I believe that the next goal for the buyers will be 105.88
- the next historic structure.
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CADJPY May Go Higher! Here is WHY: 🇨🇦🇯🇵
CADJPY formed a huge inverted head and shoulders pattern
after a test of a key horizontal daily structure support.
Because the pair is trading in a long-term bullish trend,
chances will be high to see a bullish movement to higher structure levels.
Goal for buyers: 112.14
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AUDNZD: Growth May Continue 🇦🇺🇳🇿
AUDNZD broke one more horizontal resistance last week.
I think that the next goal for the buyers will be 1.0935 level - the next historical structure.
I will expect a bullish continuation to the underlined yellow area.
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