USOIL LONG FROM SUPPORT
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We are going long on the USOIL with the target of 70.67 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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Tecnhicalanalysis
GBP/USD BULLS WILL DOMINATE THE MARKET|LONG
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GBP/USD is making a bearish pullback on the 6H TF and is nearing the support line below while we are generally bullish biased on the pair due to our previous 1W candle analysis, thus making a trend-following long a good option for us with the target being the 1.262 level.
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EUR/USD SENDS CLEAR BULLISH SIGNALS|LONG
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It makes sense for us to go long on EUR/USD right now from the support line below with the target of 1.059 because of the confluence of the two strong factors which are the general uptrend on the previous 1W candle and the oversold situation on the lower TF determined by it’s proximity to the lower BB band.
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CAD/JPY BEARS ARE GAINING STRENGTH|SHORT
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Bearish trend on CAD/JPY, defined by the red colour of the last week candle combined with the fact the pair is overbought based on the BB upper band proximity, makes me expect a bearish rebound from the resistance line above and a retest of the local target below at 107.832.
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GOLD BUYERS WILL DOMINATE THE MARKET|LONG
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GOLD downtrend evident from the last 1W red candle makes longs trades more risky, but the current set-up targeting 2,698.246 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 GOLD pair.
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AUD/JPY BEARISH BIAS RIGHT NOW| SHORT
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AUD/JPY pair is in the downtrend because previous week’s candle is red, while the price is obviously rising on the 9H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 95.787 because the pair is overbought due to its proximity to the upper BB band and a bearish correction is likely.
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NZD/JPY BEST PLACE TO SELL FROM|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 12H 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 86.825 area.
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CHF/JPY BEARS ARE STRONG HERE|SHORT
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We are going short on the CHF/JPY with the target of 171.362 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 SHORT FROM RESISTANCE
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We are now examining the USOIL 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 66.51 level.
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NZD/CHF SENDS CLEAR BULLISH SIGNALS|LONG
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Bullish trend on NZD/CHF, defined by the green colour of the last week candle combined with the fact the pair is oversold based on the BB lower band proximity, makes me expect a bullish rebound from the support line below and a retest of the local target above at 0.514.
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GBP/CAD BEARS ARE GAINING STRENGTH|SHORT
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GBP/CAD is trending down which is clear from the red colour of the previous weekly candle. However, the price has locally surged into the overbought territory. Which can be told from its proximity to the BB upper band. Which presents a beautiful trend following opportunity for a short trade from the resistance line above towards the demand level of 1.804.
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SILVER SHORT FROM RESISTANCE
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It makes sense for us to go short on SILVER right now from the resistance line above with the target of 30.300 because of the confluence of the two strong factors which are the general downtrend on the previous 1W candle and the overbought situation on the lower TF determined by it’s proximity to the upper BB band.
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GOLD BUYERS WILL DOMINATE THE MARKET|LONG
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GOLD pair is in the uptrend because previous week’s candle is green, while the price is clearly falling on the 2H timeframe. And after the retest of the support line below I believe we will see a move up towards the target above at 2,662.621 because the pair is oversold due to its proximity to the lower BB band and a bullish correction is likely.
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GBP/AUD BEARISH BIAS RIGHT NOW| SHORT
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GBP/AUD pair is trading in a local downtrend which is red. On the 9H 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 1.969 area.
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GBP/NZD BEST PLACE TO SELL FROM|SHORT
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We are going short on the GBP/NZD with the target of 2.183 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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GBP/CHF BEARS ARE STRONG HERE|SHORT
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We are now examining the GBP/CHF 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 1.132 level.
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EUR/CHF SENDS CLEAR BEARISH SIGNALS|SHORT
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EUR-CHF uptrend evident from the last 1W green candle makes short trades more risky, but the current set-up targeting 0.929 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/CHF pair.
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EUR/NZD BEARS ARE GAINING STRENGTH|SHORT
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EUR/NZD pair is in the uptrend because previous week’s candle is green, while the price is clearly rising on the 4H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 1.804 because the pair overbought due to its proximity to the upper BB band and a bearish correction is likely.
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USOIL SELLERS WILL DOMINATE THE MARKET|SHORT
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USOIL pair is trading in a local downtrend which know by looking at the previous 1W candle which is red. On the 1H 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 70.28 area.
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EUR/AUD BEARISH BIAS RIGHT NOW| SHORT
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We are going short on the EUR/AUD with the target of 1.631 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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EUR/JPY BEARS ARE STRONG HERE|SHORT
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It makes sense for us to go short on EUR/JPY right now from the resistance line above with the target of 160.038 because of the confluence of the two strong factors which are the general downtrend on the previous 1W candle and the overbought situation on the lower TF determined by it’s proximity to the upper BB band.
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EUR/CAD SHORT FROM RESISTANCE
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Previous week’s green candle means that for us the EUR/CAD 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 1.490.
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BITCOIN BEARS WILL DOMINATE THE MARKET|SHORT
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BITCOIN is trending down which is evident from the red colour of the previous weekly candle. However, the price has locally surged into the overbought territory. Which can be told from its proximity to the BB upper band. Which presents a beautiful trend following opportunity for a short trade from the resistance line above towards the demand level of 89,901.
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