- on a day chart we are bearish
- currently we see a sideways market
-we could get a bounce off the support line
- Market turned at this level previously
- Circle market in blue is an area of interest.
- Things to look into would be CADJPY as these pairs act the same to an extent
Check out the analysis of CADJPY
- On the larger trend we see gold in downward trend however it's still in the buyers area.
- A word of caution to if you choose to sell and hold for a while.
- If it break the level in blue it should hold true till the support line.
- Currency pairs for this would be the CHF and AUD. as well as USD due to the fact that people tend to hold more in gold when the...
- Currently we see the market is bearish on the 1D time frame
- Since CAD is affected by the oil price we are waiting for the buyers too loose strength
- This could be at the resistance line of the downward trend for the 1D
Stay tuned to see if we will be entering this week.
- We see that oil in currently in a sideways market at the moment hitting a resistance line
- We should expect for oil to be bearish due to the hitting of a resistance line, however the moment while fading is not yet as strong as we might have hopped for.
- Depending on the OIL reserve news to come out on Wednesday should give us a better picture of whether or...
-Only thing left to do is to wait for the turn.
-The uptrend is not as strong as it was in the beginning.
- We would need to look as other currencies pairs to gauge the right time to enter for the reversal.
I suggest looking into CADJPY, EURJPY and OIL as these are all linked indirectly.
The market was in an uptrend however we see it has created a horizontal support. We can expect a downwards trend to the support level of the upwards trend. With the CPI news for CHF coming out today it make give it the push it needs to gain some strength
We have a reversal after the chart continuously touched the resistance line without breaking it
The strong downtrend was met with a vertical consolidation which tells me that the downtrend will continue
Blue line (monthly resistance)
Brown chart ( Daily support)
Black lines( 4 hour support and resistance)
We can see that 4 hour as well as monthly resistance has been touched and not broken. However daily support was not broken. we can expect an up trend to the 4 hour resistance before a down trend to support. Can use 1 hour time frame for the buy trend and for...
brown/red line(monthly resistance)
Black line(new resistance weekly)
Firstly we can see that monthly resistance was hit and a down trend was formed, from there the new weekly resistance was constantly hit but unable to be broken. We now see double tops forming which indicates a down trend. This can be confirmed by the 200 EMA which is bearish. Will wait for entry...
We see that price has broken consolidation and gone back up to retest (brown lines.) New lines of support and resistance has been formed with resistance being touched. We should see price fall back down to support. Will have to wait for EMA's to cross for the sell signal.
Consolidation has been broken, price has retest support line (Brown lines.) We see that price has formed a new resistance line which has been touched. Should fall back down too support. Will have to wait for EMA to touched on the 4 hour time frame for the sell signal.
We see that the key level (support line was not broken.) We should now see an uptrend towards the Resistance line. The wick/shadow on the bearish candle(the shadow/wick that touched support) is significant due to the fact that it tells us that the bears could not now keep the downwards momentum
The support and resistance lines are taken on a weekly chart, resistance slope taken on a daily chart framed. Formed a nice triangle in which we see a consolidation. Chart is making higher lows and lower highs. The 12 and 26 ema will touch if a bearish candle is formed. Once support is hit we will see a bonce back to resistance .
This will be a long term trade...
