Get started

Forex market

#USDCAD 1DAYUSDCAD Daily Analysis The USDCAD pair is currently testing a significant resistance level on the daily chart, which has previously acted as a barrier, preventing upward movement. This resistance level suggests potential downside pressure, providing a favorable setup for a sell opportunity if the price fails to break through. Technical Outlook: - Pattern: Resistance Level - Forecast: Bearish (Sell Opportunity) - Entry Strategy: Consider selling near the resistance level Traders may look to enter a sell position around this resistance area, with targets set at key support levels below. Confirmation from indicators like RSI indicating overbought conditions or MACD showing bearish divergence can strengthen this setup, reinforcing the bearish outlook for USDCAD.
Short
by PIPSFIGHTER
#EURAUD 2HEURAUD 2-Hour Analysis The EURAUD pair is currently testing a strong resistance level on the 2-hour chart, where previous attempts to break higher have been met with selling pressure. This resistance zone could serve as a reversal point, offering a potential sell opportunity if the price continues to react downward. Technical Outlook: - Pattern: Resistance Level - Forecast: Bearish (Sell Opportunity) - Entry Strategy: Consider selling near the resistance area Traders may look to enter a sell position close to this resistance level, targeting lower support zones if the price fails to break above it. Additional confirmation from indicators such as RSI showing overbought conditions or MACD indicating weakening momentum can add confidence to this setup, supporting a bearish outlook.
Short
by PIPSFIGHTER
2
#AUDUSD 2HAUDUSD 2-Hour Analysis The AUDUSD pair is currently testing a trendline support level on the 2-hour chart and has recently formed a bullish engulfing pattern near this support. This combination indicates potential buying pressure, as both the trendline support and the bullish engulfing pattern suggest a possible reversal to the upside. Technical Outlook: - Pattern: Trendline Support with Bullish Engulfing - Forecast: Bullish (Buy Opportunity) - Entry Strategy: Buy near the trendline support and bullish engulfing area Traders may consider entering a buy position near the trendline support, with targets set at the next resistance levels. Additional confirmation from indicators such as RSI signaling oversold conditions or MACD showing bullish momentum can further strengthen this buy setup, adding confidence to the bullish forecast.
Long
by PIPSFIGHTER
1
#AUDUSD 2HAUDUSD 2-Hour Analysis The AUDUSD pair is currently testing a trendline support level on the 2-hour chart and has recently formed a bullish engulfing pattern near this support. This combination indicates potential buying pressure, as both the trendline support and the bullish engulfing pattern suggest a possible reversal to the upside. Technical Outlook: - Pattern: Trendline Support with Bullish Engulfing - Forecast: Bullish (Buy Opportunity) - Entry Strategy: Buy near the trendline support and bullish engulfing area Traders may consider entering a buy position near the trendline support, with targets set at the next resistance levels. Additional confirmation from indicators such as RSI signaling oversold conditions or MACD showing bullish momentum can further strengthen this buy setup, adding confidence to the bullish forecast.
Long
by PIPSFIGHTER
1
#EURJPY 1DAYEURJPY Daily Analysis The EURJPY pair is trading within a channel on the daily chart and is currently testing a trendline resistance near the channel's upper boundary. This confluence of resistance levels suggests potential selling pressure, as the price struggles to break through these barriers, creating a favorable setup for a sell position. Technical Outlook: - Pattern: Channel with Trendline Resistance - Forecast: Bearish (Sell Opportunity) - Entry Strategy: Sell near the trendline and channel resistance area Traders may look to enter a sell position around this resistance area, targeting lower support levels within the channel. Confirmation from indicators like RSI showing overbought conditions or MACD signaling bearish divergence can strengthen this setup, adding confidence to the bearish outlook.
Short
by PIPSFIGHTER
EURCAD_110 2024.11.05 12:30:05 Trading Signal SELLFrankPro Signal for EURCAD_110 Type: Screen Signal: SELL TP: 1.50817 SL: 1.51313 Entry Price: 1.51251 Analysis for EURCAD Forecast Overall(Short-Term, Long-Term): ST= Probably Down LT= Probably Up Forecast Methods(Short-Term, Long-Term): ST=Down LT=Up ST=Up LT=Down ST=Down LT=Up Analysis Method(0) Based on the provided analyses, I will provide separate assessments for short-term and long-term expectations. **Short-term Expectations (next few days):** * The EUR/CAD pair is expected to move within a narrow range, with a slight bias towards a downward movement. * The reversal from the key resistance level of 1.5160 and the Dark Cloud Cover pattern suggest a potential fall to the next support level at 1.5100. * The controlled movements with low volatility and the oversold condition on the RSI14 may lead to a brief drop before turning. * However, the overall trend remains weak, and the pair is closer to the support level at $1.46 than the resistance at $1.47, suggesting a trading risk/reward intra-day. **Expected Price Movement:** Down (but within a narrow range) **Long-term Expectations (next few weeks/months):** * The breakout from the multi-month price pattern and the Fibonacci price projections suggest a potential strong move higher. * The bullish engulfing candle on the daily chart and the wave analysis indicate a promising outlook for continued upward movement. * The target for buying on dips is around 1.5200, and a break above 1.5172 could lead to targets at 1.5228 and potentially 1.5312. **Expected Price Movement:** Up (with a potential strong move higher) In summary, while the short-term expectations suggest a potential downward movement within a narrow range, the long-term expectations indicate a potential strong move higher. Result: ST=Down LT=Up Analysis Method(1) Based on the analysis, here are my conclusions for the EUR/CAD currency pair: **Short-term analysis (next few days/week):** * The breakout above the multi-month price pattern and the bullish MACD indicator suggest a potential short-term uptrend. * However, the bearish close and the potential two-bar reversal pattern indicate a possible short-term correction. * The oversold RSI14 indicator also suggests a potential short-term bounce. * Therefore, I expect the price to **go up** in the short-term, but with a possible brief correction. **Long-term analysis (next few months/year):** * The forecasts suggest a decline in price over the next quarter and year, which contradicts the short-term bullish outlook. * The horizontal trend and the resistance levels at $1.47 and $1.48 also suggest a more negative long-term forecast. * However, the long-term Moving Averages are not providing a clear signal, and the general risk is considered low. * Therefore, I expect the price to **go down** in the long-term, but with a possible range-bound movement between $1.48 and $1.51. Overall, the analysis suggests a potential short-term uptrend, but a more negative long-term outlook. Result: ST=Up LT=Down Analysis Method(2) Based on the provided analyses, here is my assessment of the EUR/CAD currency pair's expected price movement in both the short-term and long-term: **Short-term Analysis (next few days to a week)** * The presence of a strong bullish engulfing candle on the daily chart, as noted in the TradingView Analysis, suggests a potential for upward movement. * However, the Wave Analysis indicates a reversal down from the key resistance level of 1.5160, which could lead to a fall to the next support level at 1.5100. * The Breakout and Pattern Analysis suggests a bullish sign with a potential break above 1.5172, but also warns of a possible two-bar reversal pattern indicating a temporary correction. Given these mixed signals, I expect the price to be volatile in the short-term, with a slight bias towards a downward correction. The price might fall to the support level around 1.5100 before potentially rebounding. **Long-term Analysis (weeks to months)** * The Breakout and Pattern Analysis suggests a bullish sign with a potential strong move higher if the price follows through above 1.5172. * The General Outlook mentions that the MACD momentum indicator supports a bullish outlook, which could indicate a longer-term upward trend. * However, the presence of potential resistance levels and the possibility of the pair being oversold on some indicators could lead to corrections along the way. In the long-term, I expect the price to trend upwards, potentially reaching the targets mentioned in the Breakout and Pattern Analysis (1.5228 and 1.5312). However, this move is likely to be accompanied by corrections and potential pullbacks to support levels. In summary: * Short-term: Expected to go down (slight bias towards a downward correction) * Long-term: Expected to go up (with potential corrections along the way) Result: ST=Down LT=Up
Short
by frankiepro
EURUSD - AnalysisMy main trading principle is that the price always moves from swept liquidity levels to untouched liquidity levels. In particular case we clearly can see the following context: price swept 1D key liquidity level and left untouched level lower. But to take more statistically more probable trades we should wait for some time of lower timeframe confirmation. For me the best way to confirm higher timeframe context is structure. We can notice the break of market structure (sign of weakness) on key liquidity level, so there is a higher probability to see price lower at least on opposite level (marked lower). Your success is determined solely by your ability to consistently follow the same principles.
Short
by Maks_Klimenko
EURCAD Is Very Bullish! Long! Please, check our technical outlook for EURCAD. Time Frame: 2h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is on a crucial zone of demand 1.512. The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 1.516 level. P.S The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce. Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
1
Euro can reach resistance line of upward channel and then dropHello traders, I want share with you my opinion about Euro. Observing the chart, we can see how the price some days ago entered to wedge, where it at once rebounded from the support line and rose to the resistance line, breaking the resistance level. Then, the price turned around and made a correction movement, below the resistance level to support line of the wedge pattern. Next, the Euro in a short time rose to the resistance line again, after which turned around and started to decline. In a short time, the price declined to the 1.1050 level, which coincided with the seller zone and broke it, thereby exiting from the wedge too and continuing to fall next. Later price fell to the 1.0840 support level, which coincided with the buyer zone and broke this level too. But then, the EUR turned around and started to grow inside the upward channel. So, soon, the price broke the support level again and even made a gap, after which continued to move up. For this moment, I think that the Euro can reach the resistance line of the channel and then drop to the support line, breaking the support level. That's why my TP is located at 1.0820 points. Please share this idea with your friends and click Boost 🚀
Short
by LegionQ8
6