GBP/JPY BULLS WILL DOMINATE THE MARKET|LONG
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The BB lower band is nearby so GBP-JPY is in the oversold territory. Thus, despite the downtrend on the 1W timeframe I think that we will see a bullish reaction from the support line below and a move up towards the target at around 198.888.
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Tecnhicalanalysis
USOIL Will Go Lower From Resistance! Short!
Please, check our technical outlook for USOIL.
Time Frame: 15m
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is testing a major horizontal structure 66.952.
Taking into consideration the structure & trend analysis, I believe that the market will reach 66.542 level soon.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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GBP/CHF SENDS CLEAR BULLISH SIGNALS|LONG
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Previous week’s red candle means that for us the GBP/CHF pair is in the downtrend. And the current movement leg was also down but the support line will be hit soon and lower BB band proximity will signal an oversold condition so we will go for a counter-trend long trade with the target being at 1.133.
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EUR/NZD BEARS ARE GAINING STRENGTH|SHORT
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EUR-NZD uptrend evident from the last 1W green candle makes short trades more risky, but the current set-up targeting 1.782 area still presents a good opportunity for us to sell the pair because the resistance line is nearby and the BB upper band is close which indicates the overbought state of the EUR/NZD pair.
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EUR/AUD BUYERS WILL DOMINATE THE MARKET|LONG
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EUR/AUD pair is in the uptrend because previous week’s candle is green, while the price is obviously falling on the 1H timeframe. And after the retest of the support line below I believe we will see a move up towards the target above at 1.633 because the pair is oversold due to its proximity to the lower BB band and a bullish correction is likely.
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EUR/JPY BEST PLACE TO SELL FROM|SHORT
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We are going short on the EUR/JPY with the target of 163.437 level, because the pair is overbought and will soon hit the resistance line above. We deduced the overbought condition from the price being near to the upper BB band. However, we should use low risk here because the 1W TF is green and gives us a counter-signal.
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USOIL BULLISH BIAS RIGHT NOW| LONG
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USOIL pair is trading in a local uptrend which know by looking at the previous 1W candle which is green. On the 1H timeframe the pair is going down. The pair is oversold because the price is close to the lower band of the BB indicator. So we are looking to buy the pair with the lower BB line acting as support. The next target is 68.98 area.
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EUR/CAD BEARS ARE STRONG HERE|SHORT
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We are now examining the EUR/CAD pair and we can see that the pair is going up locally while also being in a uptrend on the 1W TF. But there is also a powerful signal from the BB upper band being nearby, indicating that the pair is overbought so we can go short from the resistance line above and a target at 1.472 level.
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USD/CHF SHORT FROM RESISTANCE
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The BB upper band is nearby so USD-CHF is in the overbought territory. Thus, despite the uptrend on the 1W timeframe I think that we will see a bearish reaction from the resistance line above and a move down towards the target at around 0.876.
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AUD/USD SENDS CLEAR BULLISH SIGNALS|LONG
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AUD-USD downtrend evident from the last 1W red candle makes longs trades more risky, but the current set-up targeting 0.653 area still presents a good opportunity for us to buy the pair because the support line is nearby and the BB lower band is close which indicates the oversold state of the AUD/USD pair.
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NZD/USD BULLS ARE GAINING STRENGTH|LONG
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NZD/USD pair is in the downtrend because previous week’s candle is red, while the price is evidently falling on the 4H timeframe. And after the retest of the support line below I believe we will see a move up towards the target above at 0.592 because the pair oversold due to its proximity to the lower BB band and a bullish correction is likely.
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USD/CAD SELLERS WILL DOMINATE THE MARKET|SHORT
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USD/CAD pair is trading in a local uptrend which we know by looking at the previous 1W candle which is green. On the 2H timeframe the pair is going up too. The pair is overbought because the price is close to the upper band of the BB indicator. So we are looking to sell the pair with the upper BB line acting as resistance. The next target is 1.396 area.
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GOLD BULLISH BIAS RIGHT NOW| LONG
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We are going long on the GOLD with the target of 2,783.207 level, because the pair is oversold and will soon hit the support line below. We deduced the oversold condition from the price being near to the lower BB band. However, we should use low risk here because the 1W TF is red and gives us a counter-signal.
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GBP/USD BEST PLACE TO BUY FROM|LONG
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We are now examining the GBP/USD pair and we can see that the pair is going down locally while also being in a downtrend on the 1W TF. But there is also a powerful signal from the BB lower band being nearby indicating that the pair is oversold so we can go long from the support line below and a target at 1.287 level.
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USD/JPY BEARS ARE STRONG HERE|SHORT
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The BB upper band is nearby so USD-JPY is in the overbought territory. Thus, despite the uptrend on the 1W timeframe I think that we will see a bearish reaction from the resistance line above and a move down towards the target at around 152.850.
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EUR/USD LONG FROM SUPPORT
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Previous week’s red candle means that for us the EUR/USD pair is in the downtrend. And the current movement leg was also down but the support line will be hit soon and lower BB band proximity will signal an oversold condition so we will go for a counter-trend long trade with the target being at 1.078.
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SILVER BULLS WILL DOMINATE THE MARKET|LONG
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SILVER downtrend evident from the last 1W red candle makes longs trades more risky, but the current set-up targeting 32.262 area still presents a good opportunity for us to buy the pair because the support line is nearby and the BB lower band is close which indicates the oversold state of the SILVER pair.
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CAD/JPY SENDS CLEAR BEARISH SIGNALS|SHORT
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CAD/JPY pair is in the uptrend because previous week’s candle is green, while the price is clearly rising on the 17H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 108.755 because the pair overbought due to its proximity to the upper BB band and a bearish correction is likely.
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NZD/JPY BEARS ARE GAINING STRENGTH|SHORT
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NZD/JPY pair is trading in a local downtrend which know by looking at the previous 1W candle which is red. On the 1D timeframe the pair is going up. The pair is overbought because the price is close to the upper band of the BB indicator. So we are looking to sell the pair with the upper BB line acting as resistance. The next target is 90.022 area.
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CAD/CHF SELLERS WILL DOMINATE THE MARKET|SHORT
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We are going short on the CAD/CHF with the target of 0.623 level, because the pair is overbought and will soon hit the resistance line above. We deduced the overbought condition from the price being near to the upper BB band. However, we should use low risk here because the 1W TF is green and gives us a counter-signal.
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GOLD BULLISH BIAS RIGHT NOW| LONG
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We are now examining the GOLD pair and we can see that the pair is going down locally while also being in a downtrend on the 1W TF. But there is also a powerful signal from the BB lower band being nearby indicating that the pair is oversold so we can go long from the support line below and a target at 2,789.654 level.
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AUD/CHF BEST PLACE TO SELL FROM|SHORT
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The BB upper band is nearby so AUD-CHF is in the overbought territory. Thus, despite the uptrend on the 1W timeframe I think that we will see a bearish reaction from the resistance line above and a move down towards the target at around 0.571.
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NZD/CHF BEARS ARE STRONG HERE|SHORT
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Previous week’s green candle means that for us the NZD/CHF pair is in the uptrend. And the current movement leg was also up but the resistance line will be hit soon and upper BB band proximity will signal an overbought condition so we will go for a counter-trend short trade with the target being at 0.513.
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