USD/TRY - 400 Short OpportunityUSD/TRY still hasn't found a strong support and thus, a move down further below is possible.
US-DOLLAR
USDJPY - Technically a Good BUY Area!Hello followers and other TradingView users!
Here I would like to point out some technically decent BUY opportunity for USDJPY!
BUY Criteria:
1. Breakout from the August down-channel
2. Wait for some pullback & retest
3. A retest is supported by weekly level
4. A retest is supported by monthly level
5. A retest is between 38%-50% Fibonacci retracement level
6. A small round number area 110.700
...and we need definitely a good candlestick pattern on this level!
So, I keep You posted IF we reach this level, this is a counter-trend and the risk is higher!
PLEASE, don't forget to SHARE this, hit the LIKE and the FOLLOW button if you feel this topic deserves it!
That's the best way to support me and help to push this analysis to other users.
Best regards!
USD/ILS 1H Chart: New medium pattern takes overThe situation on the USD/ILS charts is initially hard to understand, as the already broken patterns are still drawn on the chart.
Namely, the previously active ascending medium term pattern is still observable on the charts. However, one should concentrate on the new medium term descending pattern.
In the borders of that pattern a junior channel up pattern has already guided the currency rate up to the resistance line of the medium term pattern.
In regards to the near future, the pair is set to get squeezed in between the various hourly SMAs, lower trend line of the junior pattern and the resistance line of the medium term pattern. If the dominant pattern holds its ground, the squeeze should end in a break out to the downside.
EUR/USD daily overviewThe common European currency continued its decline on Thursday against the US Dollar, as the currency exchange rate reached below the cluster of levels of significance near the 1.1680 mark.
On Thursday morning, the currency pair was heading for the lower trend line of a large scale triangle pattern. The trend line most likely will be reached at the 1.1620 mark.
Watch the trend line to see, whether it holds and forces the rate into a rebound or passes the support line and reaches for the monthly S1 near the 1.16 level.
Bearish Pattern on DXYA breakout of the Head and Shoulders will confirm the downtrend for DXY.
Cheers!
King Dollar on its wayProbably a foolish Idea ever. The current range considering as a breakout setup. Expect unexpected
USD/ZAR 1H Chart: Descending between Fibonacci linesThe US Dollar continues to lose ground against the South African rand in a large scale descending channel pattern. However, not the pattern, but other aspects are to be noted more importantly.
Namely, the fact that the currency exchange rate is respecting the support and resistance of the various Fibonacci retracement levels that can be charted on the currency exchange rate. Moreover, various pivot points play important roles on the chart.
Regarding the near term future, whether a surge or decline starts is dependent on whether the 13.31 gets passed to the downside or the upside.
US30 (Wall Street) Long Term Bullish I just draw on charts and make pips don't know anything else.
Enter on shorter time frames such as Daily/4HR for precise entry points and let the trades run.
Risk no more than 2% of account.
COUNT PIPS COUNT PIPS COUNT PIPS NOT MONEY.
THANKS
SULEMAN
USD/CAD daily reviewThe main move on the USD/CAD on Wednesday occurred due to the Bank of Canada hiking their base interest rate. Namely, a hike from 1.25% to 1.50% caused a strengthening of the Canadian currency.
The event was covered on the bank’s live webinar platform, and the traders present caught an initial move of 50 base points that eventually extended into a 70 base point decline until the rate met with dominant support.
Namely, a support line drawn just before the data release coverage by Dukascopy Analytics turned out to be strong enough to support the currency exchange rate.
NZD/USD daily reviewIn the aftermath of the break out to the downside by the NZD/USD pair, a new junior descending pattern was discovered on Wednesday. Namely, there exists a pattern, which has guided the currency exchange rate since the bounce off from resistance that occurred at the start of Tuesday’s trading session.
However, judging by the range of the new pattern and the previous, it can be deducted that these two pattern represent junior movements in a larger scale pattern. Although, the exact trend lines of the larger pattern are still not clear.
In regards to the short term future, the rate is set to surge up to the 0.6820 level, where it will meet the junior patterns resistance together with the 100-hour SMA.
GBP/USD daily overviewThe surge of the Pound has extended on Monday against the US Dollar, as the currency pair had reached above the 1.3350 mark during the first part of the day’s trading.
During the move the pair broke the resistance of a dominant descending pattern, which managed to delay the appreciation of the Sterling against the Dollar on Friday.
However, the surge was stopped by and was still set to face the combined resistance of the weekly R1 and the upper trend line of medium term ascending pattern near the 1.3350 mark.
EUR/USD is expected to declineAfter the recent fundamental events and releases a broader review of the EUR/USD currency pair was conducted on Thursday. Namely, all previous patterns were deleted and a fresh look was taken at the situation to capture the new fundamental information.
It was discovered that the currency pair is trading in massive scale descending pattern, in which there exists a long term ascending channel. In the medium pattern a descent is taking place in a channel down pattern.
Meanwhile, note that recently the pair bounced into a strong resistance cluster, and it has almost no support down to the 1.1640 mark.
Tariffs on 200B? Trend in US Equities Still BullishHello friends,
As news leaked about concrete plans to put tariffs on 200B worth of Chinese goods in an escalating trade war, equity futures plunged.
But this is not new news. "Tuesday's action makes good on a threat President Donald Trump made last month. He directed Lighthizer to identify $200 billion in Chinese goods for tariffs if China retaliated against US penalties that are meant to punish the country for intellectual property theft." It also appears these tariffs would be implemented sometime in August, after a period of consultation with industry as which products they should be imposed on...at least this is what I thought I heard on Bloomberg TV. It's still a bit early to get extremely concerned, and a strong market should not be too damaged by these revelations I reason. A weak market on the other hand would wait for resolution.
Thus I think the market reaction may be a bit overdone. We are currently seeing a recovery after a bounce around the 0.382 fib level of the current trend on the futures. This is exactly what I would expect in a strong uptrend...it's important the decline does not significantly violate the 0.5 retrace level from my experience, and the 0.382 retrace is perfect for a trend which still has significant strength. It's also important to see some decline, as these allow the markets to cool off and prepare for the next leg up. These declines also become places where I generally anchor my stop loss in anticipation of continuation.
For the moment, despite this weakness, it does appear the current uptrend is still in force. However I do have my stop loss below this 0.382 level (currently long) and as much as the FOMO is suggesting I move it below the 0.5 retrace to be 100% sure I don't get stopped out of the move, logically, keeping it here seems to make the most sense to me. After all, protecting profits/limiting losses is extremely important, and there's no telling with certainty what the markets will do.
And of course, if you're not long, this may be a good buying opportunity. As always, time will tell.
USD/DKK 1H Chart: Declining in medium patternAfter breaking the lower trend line of the previously active dominant pattern, the USD/DKK currency exchange rate has been declining in a medium scale descending channel.
Recently the pair bounced off the resistance of the PP at 6.38 and began a decline, which has resulted in the booking of a new low level for the USD/DKK pair.
The rate is most likely going to continue in this way until it reaches the lower trend line of another long term descending pattern just below the 6.34 mark.
USD/JPY daily overviewThere are almost no changes on the USD/JPY currency exchange rate’s hourly chart. Namely, the pair has traded sideways while being supported by the 55-hour SMA and being restricted from surging by the 100-hour SMA.
However, note that the 100-hour simple moving average was pierced on early morning of Friday’s trading session.
In general, the rate is set to continue trading sideways until it reaches the additional support of the 200-hour SMA and the lower trend line of the medium term ascending pattern.
USD/ILS 4H Chart: Review after new heightsAfter the US Dollar reached new heights against the Israeli Shekel, most patterns could be observed as broken. That fact pushed for a larger review.
It was discovered that the currency exchange rate is surging simultaneously in two ascending pattern. The dominant pattern has the form of an ascending wedge. Meanwhile, there exists a junior medium term ascending channel pattern.
In regards to the future, the rate is likely going to reach the high level of the monthly PP near the 3.70 mark in July. However, note that there might be short term, smaller time frame resistance levels existing that might slow down the surge.
USD/JPY finds support in SMAAfter booking a new high level against the Japanese Yen, the US Dollar retreated during the early hours of Monday’s trading session. However, by the middle of the day the currency exchange rate had stopped the decline.
Namely, the decline was stopped by the support of the 55-hour simple moving average near the 110.60 mark.
Moreover, the currency exchange rate was expected to surge even more in the upcoming trading sessions. The basis for this assumption is the fact that above the currency exchange rate there were no resistance levels up to the 111.30 mark.
EUR/USD meets resistanceThe common European currency after the large Friday’s jumps against the US Dollar met with the resistance of a dominant descending channel. The event took place just as the last week’s trading ended near midnight between Friday and Saturday.
On Monday the currency pair declined down until the decline was stopped by the combination by all of the three SMAs that are used by Dukascopy Analytics on technical charts.
A trader needs to watch the SMAs. They will either push the rate higher or, as they are passed, the rate would drop down to the next support level. The next support level below the SMAs on Monday was the weekly S1 at 1.1570 mark.
