US
GBPUSD: Where are we going?
hey guys,
confirmed daily candle close above the previous June's structure high.
now bulls will most likely push higher.
next strong resistances:
1.294 - 1.302 area based on a projected harmonic movement, fib.extension confluence and structure
1.315 - 1.322 area based on a fib.extension confluence and structure
to short wisely from these levels, always look for confirmation on lower time frames.
EURUSD: Fib.Analysis & Major Weekly Levels
hey guys,
EURUSD is now very volatile and easily breaks daily structure resistances.
you may wonder when the market will stop.
here just by the means of fibs. and structure I found key resistance clusters to look at.
for drawing fib.levels I took major 2014-2015's bearish rally and 2017-2018's bullish rally.
1.16 - 1.18 is the first strong resistance cluster.
it is based on a price action of 2015/2016/2017/2018 and fib. levels of the above-mentioned impulses.
1.21 - 1.22 is the second resistance cluster.
it is based on a price action of 2017/2018 and fib.confluence of 0.5 and 0.786
1.245 - 1.26 is the third resistance cluster.
it is based on a 5 year's high and 618 of the major leg.
the market should at least stop within these levels and retracements will be highly probable.
trade only with a confirmation on lower time frames.
EURUSD: Price Action & Scenario for Next Week
EURUSD is trading within a rising parallel channel on 4H.
the resistance of the channel was reached on Wednesday and the market set it's last higher high there.
during the next two days the pair started to consolidate:
with a sequence of three equal highs and two equal lows, the price is stuck in a narrow horizontal trading range.
next week, with a high probability the price will retrace one more time from the horizontal resistance.
then sellers will face with a buying pressure from a channel's and range's supports.
consider this range for potential quick trades next week.
to catch the next wave, I would suggest waiting for a violation of the range.
we can not estimate how long the market will trade there, so it would be better to just wait.
have a great weekend!!!
DOLLAR INDEX (DXY) Update & Important Decision Ahead!!!
DXY is retesting summer's structure low.
the price is currently consolidating within a narrow horizontal decision range.
because the current trend is bearish, I am bearish biased on greenback.
in case of a violation of the range to the downside, bearish rally will most likely continue.
next goals will be:
95.4 - daily resistance
94.8 - year's low
in case of a bullish violation of the range, USD may start recovering.
96.9 will be the first goal.
for now it is hard to predict with high accuracy the next usd move, so let the market decide first and then just act accordingly.
EURUSD: Year's High AHEAD!!! Key Levels & Scenarios
EURUSD is approaching a key daily structure resistance.
1.15 is year's high, short rally from that level was just crazy in march.
we don't know how the market will react this time, so we must be prepared for both scenarios:
in case of a bullish violation of the underlined resistance (daily higher high higher close)
the pair will most likely keep growing.
next midterm resistances will be:
1.155
1.160
if the structure will be respected (some reversal formation on lower timeframes)
the market may retrace.
closest midterm supports will be:
1.137
1.130
of course, bias right now is bullish, but it is too late to jump in.
let's patiently wait and see whats gonna happen.
NZDUSD: Channel Breakout & Bearish Continuation
hey guys,
NZDUSD has broken below a rising parallel channel.
setting a lower high, the price broke below a minor horizontal support as well.
now I am planning to short the market on retest.
sell zone will be between a broken support of the channel and minor horizontal support.
target levels:
0.6509
0.6485