Analysis: Price has been in this upwards trend for a while now but in the last couple of months we've seen that change and price has started to reverse and head to the downside. In recent times price was able to break past this long term upwards trendline that we've seen be respected multiple times, which signals to us that the bears are taking control of the...
Past Performance The Euro is under immense selling pressure and edging lower when writing. Per the EUR candlestick arrangement in the daily chart, there could be more losses below the immediate support levels, should the bears press on. As it is, $1.0850 is a critical sell trigger line to watch. Conversely, gains above $1.0930 or June 30 would likely trigger...
Analysis: We took a trade on this pair the other day but we ended up getting stopped out due to the bearish news that came out for the USD however we're going to take another shot at NZDUSD. We are still bearish on this pair because we're still in a downwards trend. We haven't formed a higher high yet which confirms that we're still in a downwards trend. Price...
Past Performance Euro prices are steady when writing and trending inside the June 15 bull bar. Per the EURUSD candlestick arrangement in the daily chart, every attempt lower but above the $1.0850 support line may offer entries for aggressive traders angling for $1.1100. Any upswing above $1.0970 will trigger demand, pumping the Euro even higher. EURUSD...
Past Performance Based on the daily chart, euro prices are bullish, reading from last week's solid performance, but are now lower. Following the rapid expansion on June 14, the cool-off on June 15 means an element of overvaluation. Subsequently, Euro prices might contract but remain bullish if prices are inside the June 14 bullish engulfing bar. #EURUSD...
Past Performance of Bitcoin Bitcoin recovered on June 15, but bears remain in control. The June 14 bar is critical in shaping the short-term trend. Since the candlestick is bearish engulfing and broke below the June 6 lows, the bear breakout formation set in motion by the June 5 bar remains. Technically, traders can look for entries to short on every attempt...
Past Performance The Euro bounce is clear, and the currency is now up 2.95% from June 2023 lows. As it is, every attempt lower but within the June 15 bar is an opportunity to load up, targeting $1.1100 or April 2023 highs. Any dump below $1.0770 will nullify this preview. #EURUSD Technical Analysis The June 15 bar is wide-ranging, with decent volumes pointing...
Analysis: To start off with this isn't our favourite setup. We don't have any added confluences which whilst aren't required for a trade to be valid in our opinion, they are still a nice thing to see and they provide more confidence. With that being said just because we don't have the these added confluences this setup is still valid and there are a few reasons...
Past Performance The Euro is firm at spot rates. While the FED's move to briefly pause interest rate hikes forced the currency lower in the NY session, the uptrend is clear. As such, every low above $1.0770 offers entries for aggressive traders angling for $1.0950 and $1.1100 in the medium term. #EURUSD Technical Analysis The uptrend is clear, and the Euro is...
Past Performance The recent accumulation of the Euro prices ended supporting buyers, looking at the performance in the daily chart. The Euro is trading above immediate resistance, support, and the middle BB—a net positive. From the candlestick arrangement, every dip above $1.0770 may offer an entry for optimistic traders as buyers likely extend their gains. ...
Past Performance Euro prices are lower as USD bulls found support. Technically, the downtrend remains. In the short term, the bulls of June 1 could shape the trend. For the uptrend to take shape, there must be a sharp, high-volume expansion above $1.0770 or June 1. Conversely, sellers would double down if EUR prices slip below $1.0660 and $1.0600 in the short...
Past Performance The Euro remains volatile when writing, shaking off bears, and rejecting attempts for lower lows. With the June 5 bar closing with a long lower wick, it could suggest that the Euro found support in the late European and NY trading sessions. The immediate support and sell trigger lines remain at $1.0660 and $1.0600. #EURUSD Technical Analysis...
Past Performance Euro prices edged lower on June 2, reversing most gains posted the previous day. However, while USD bulls appeared to have the upper hand, trading volumes were lower, solidifying the bullish outlook. Therefore, while bears are optimistic, June 2 losses could be reversed should Euro bulls step in today. #EURUSD Technical Analysis The path of...
Past Performance There is a welcomed revival in the Euro following a worrying 3.6% dip from April highs. The long lower wick of May 31 was followed by a bullish engulfing bar on June 1, reinvigorating buyers. With prices above $1.0760, there is room for further gains in the immediate term towards $1.0850. EURUSD Technical Analysis Buyers are confident of the...
Past Performance of Bitcoin Bitcoin prices are lower when writing, dropping from yesterday's lows as gains of May 28 are strongly reversed. Even though the upside remains, at least from a top-down preview, the loss below FWB:27K should be a concern for holders. For now, conservative traders should track how today's close will be. If it closes below FWB:27K ,...
Past Performance EUR price crashed on May 31, dropping to as low as $1.0626. However, the long lower wick at the end of the session could provide a glimmer of hope for bulls. Presently, the downtrend remains, and USD bulls are emphatic. As it is, the Euro is down 3.6% from May 2023 highs. #EURUSD Technical Analysis EUR prices remain in range at spot rates but...
Past Performance The reprieve of Euro bulls was quickly reversed on May 31 as the sharp liquidation ended attempts for higher highs and reversed gains. As it is, sellers are back in the picture, and yesterday’s highs at around $1.0760 will act as the liquidation line and resistance for aggressive short sellers. #EURUSD Technical Analysis The path of least...
Past Performance From the EURUSD daily chart, it is evident that sellers are in control, taking charge. USD bulls have been relentless, and at this pace, EUR prices may easily slip to $1.0500, retesting March 2023 lows. Notably, the banding of bars along the lower BB suggests that the selling momentum is strong, indicating that there could be more losses in the...