Zone
7.10.2020 - Monero (XMR / USD)Hi Traders!
Today we will look at the well-known cryptocurrency - Monero. If you compare Monero chart with the charts of other cryptocurrencies, you can observe one absolutely fundamental difference. What is that?
Monero is currently at its peak since the March declines. If you look at other cryptocurrencies, for example, DeFi projects have generally fallen by more than 60%. Other altcoins have also fallen by about 50% since the last high. Examples are DOT, LINK, ADA, or XTZ.
Monero is even above the strong psychological threshold of USD 100. Looking at RSI, it is clear that we are following the trendline, but we also see divergences. The chart also holds the trendline, but it has a fairly sharp angle. We have strong resistance at USD 121.43. We doubt that we would be able to breakthrough in this trend. The first thing we will watch is the fall of the trendline on the RSI and then on the chart - then there will be a decline.
May the crypto be with you!
GBPJPY video top-down AnalysisHello everyone, here is the top-down analysis for GBPJPY, feel free to request any pair/instrument or ask any questions in the comment section below.
Best of luck!
Elliot Wave: NZDCAD Bearish Continuation SetupSupport this analysis with your likes and comments!
This is an update on the previous Daily setup shared a few weeks ago.
NZDCAD reversed and broke the S&R zone and ascending trendline impulsively in wave i.
According to Elliot Wave theory, impulse move is always followed by a three-wave correction. In NZDCAD's case, the short-term rally is currently taking the shape of a-b-c zigzag pattern in wave ii.
Price is contained within a parallel channel and also retesting a significant supply zone. While the retracement can entends to a complex corrective structure, we can take a short entry from the current market level as long as the protective stop is placed at the major invalidation level which is the red line on the chart.
Price has the potential to move downwards towards wave (a) low in wave iii of (c).
The break of the green lines can be used as a conservative entry.
The major invalidation level is the red line on the chart.
What's your view on NZDCAD? Let me know in the comment.
Thanks for reading!
Veejahbee.
USDHUF video top-down AnalysisHello everyone, here is the top-down analysis for USDHUF, feel free to request any pair/instrument or ask any questions in the comment section below.
Best of luck!
USDJPYUSDJPY is making lower high and lower low. But if you go to daily or weekly time frame, it is currently at very important support zone.
But before looking for reversal we can enter a short position.
There is multiple supporting confluences for short position.
#1 previous support zone into resistance
#2 trend line
#3 Fib Retracement
Use risk management when entering trade.
GBPJPY - Another opportunity to get inGBPJPY has been giving us great opportunities to get in. Those who are not in, await a retest of the zone indicated and short.
GBPJPY video top-down AnalysisHello everyone, here is the top-down analysis for GBPJPY, feel free to request any pair/instrument or ask any questions in the comment section below.
Best of luck!
YM : Trapped sellersThe gap up on Sunday trapped a bunch of sellers, who would have a strong desire to exit when price comes back to them.
USDJPY Snipe zones : trapped sellers below July 2020 lowA large volume of sellers are trapped at July 2020 lows - who will have a strong desire to exit when price comes back to them - giving us a long entry.
GBPJPYAll GBP pair looks similar, it just need patience to wait for the confirmation, but situation with libra may continue drop.
CHFJPY Key ResistanceCJ hs came back and retested key resistance and could fall bearish from here, however a bullish breakout isn't an impossible thought.
EURUSD Potential Long Term ShortRising wedge pattern .
I believe trend will eventually reverse @ designated zone or may not reach zone and begin having lower lows
