The AUD/CHF ended his bull run a few weeks ago by breaking below the lower trendline (dynamic support). The price since then has been in a recurrent accumulation phase (looking like a pennant/flag). This could either be bulls surrendering to the bears or buyers preparing for another phase to pump the price higher. The pair is worth looking into.
A break above the triangle commenced a new uptrend sequence. Worth looking into. Entry point - 1.6080 Stop - 100 pips Target 1 - 250 pips Target 2 - 500 pips
The AUD/JPY is at the yearly high. Having successfully crafted an Ascending Triangle pattern to confirm the presence of buyers in the market amid the peace talk between Russia and Ukraine. Technically - If the price gives a sound rebound above the 94.00 psychological level, the pair could experience another surge in price and mark 96.55 as the next stop or move...
The EUR/USD broke below the Triangle last week and spent the rest of last week and early today making a correction to retest the diagonal support zone (the lower trendline). If the price failed to re-enter back inside the triangle and got rebounded towards the downward part of the market again. A Sell Stop is good at 1.08040 and targets 0.5040 (300points).
Well, I am expecting a steady breakout this week on USD/CHF, the pair have always been one of my favorite pair. Waiting for the break out/down before going Long/Short on a Long term. I will keep you all posted on how I choose to follow this pair after he's taken the turn.
I am currently bullish on Bitcoin, after moving from the past few weeks of consolidation, before breaking out of the 42000 Resistance zone. Then testing the 48000 R-level before falling back to retest the 42000 which could now be used as the new Support zone. A break out of the 48000 (upper trendline) could be the break the buyers need to push the price up to the...
AUD/CHF has been on a steady uptrend and that could be tracked with the Ascending channel. But I am anticipating a short position at a breakout below the lower trendline. This is a breakout strategy - And it is very important to watch out for a fakey. Nevertheless, all things being equal, the target is 300point below 0.69200.
I am still looking forward to selling XAU/USD. Gold broke out of the symmetrical triangle just to form a new head and shoulder pattern. Trade setup A break below 1900 would be a good mark to join in a long-term SHORT Position towards 1800 and down below 1780 previous support zone. PS: It's expedient to wait for the price to break below the shoulders...
I forecasted a falling wedge on XAU/USD a few days ago, but because GOLD couldn't touch the underlined lower trendline, the price got corrected at a dynamic support level which automatically switched the Wedge to a Symmetrical triangle. The breakdown that happened on Tuesday was due to news ascertaining the fact that the bears are still in the game (fakey)....
GBP/AUD has successfully tested the 1.2715 support, and the sellers are exerting a huge amount of pressure to break the support level (as shown in arrow 3). But any successful rebound toward the upside of the market. A break above the upper trendline would initiate a new bullish wave and this could be a huge spike because we will all be buying. LOL. I am looking...
The pair has a reversal potential on the downside of the market. If the retest of 1.5985 resistance level is a success, the price could take a new reverse and begin a short phase with a mark towards 1.5646 to complete the second leg of the range, and retest the lowest of the year. Plausible Note, the pair is technically using the 200-SMA as a strong resistance...
The GBP/CAD just broke above the upper trendline and that indicates that the bulls are in the game to push the price up. A further 4H break above 1.6715 would be a perfect entry confirmation for a Long position. You might want to stay close to this one.
The pair has a reversal potential on the downside of the market. A short position below 0.8315 has a mark towards 0.8210 to complete the second leg of the range. Key Note, the pair is technically using the 200-SMA as a strong resistance ahead.
XAU/USD has got a few more laps to complete inside the falling wedge, and being below the 200-day SMA is a strong indicator for the bearish continuation for the yellow metal. A Bearish setup, Sell stop - 1915.00 Take Profit - 1860.00 Trade with appropriate risk management.
After a successful rising wedge, I suppose we can only expect a breakdown, which would ultimately follow with a further downtrend. EUR/JPY short position could be well anticipated.
The AUD/USD had been on my radar for over 2 weeks now and I have been waiting for the right break to long the pair as heavy as possible, the last week's 100% correction to the spike that happened a week prior to last was really convincing. But it all went down really great because the price has risen back to the same bullish zone. The Friday bullish flag...
GBP/CAD has been a very stable monument inside the triangle, representing a steady correction and rejection inside the pattern. But, a breakout from the upper trend could initiate a very strong uptrend. But, if the pressure is heavy on the 0.6670 support level, it might get broken, and then the price dip a little bit more. Moreover, there is still a chance for...
If the current 1.3950 support level failed to hold the EUR/CAD price and pushes it back into the triangle, a short position is well anticipated. A Sell Stop order is good to catch the breakdown after the first 4H candle successfully breaks below the support. You might want to check it out.