FXAutomate

FXAutomate

The downtrend has been well established with price continuing to make lower lows and lower highs. For this reason, we are expecting another pullback to a new lower high before expecting to see rejection sending price lower once again. Currently, the 1st area of resistance is the Monthly Pivot @ 1.167 with more resistance between there and the Monthly R1 @ 1.180....

FXAutomate

Throughout 2021 the VIX has slowly formed an inverted head and shoulders bottom. We are also now seeing that the VIX is starting to spend more time in the top end of the yearly linear regression channel which would suggest it is starting to consolidate for a move higher. The previous swing low currently resides just below the Daily 50 and 100 SMA's suggesting this...

FXAutomate

Entry Range: 0.924 to 0.928 Stop: 0.918 Targets: 0.936 (T1) and 0.940 (T2)

FXAutomate

Bitcoin is entering a large supply zone between 48.5k to 50.5k where we have lots of liquidity in play and from where big sellers could very likely start stepping in. If we see rejection from this zone a move to support @ 46.1k is very likely. And if we see a break below this key support level there is a very real chance for a deeper correction towards the Daily...

FXAutomate

Gold could very possibly be setting up a double bottom here, but with the medium-term trend still down it would be best to wait for confirmation from a break above at least 1780. For now, there is some support @ 1745 followed by more support @ 1705 should we see one more leg down. In terms of a strong bullish recovery back above 1780 there will be resistance from...

FXAutomate

Brent crude is still looking very bullish since its breakout last month and could be seeing more upside after a test of support @ 76.40 (Monthly Pivot), in the event where this level fails there is even more support @ 73.00 where the Daily 50 and 100 SMA's converge. Initial bullish targets include the Monthly R1 @ 82.50 and the Monthly R2 @ 86.80

FXAutomate

With a break below 14840 the NASDAQ has confirmed a possible head and shoulders with a full short target near the Daily 200 SMA @ 14050. Currently, there is also very strong resistance in the form of the Monthly Pivot which coincides with the Yearly R1 Pivot @ 15000. This could indicate that the most probable scenario is a move lower to test diagonal support near...

FXAutomate

Since breaking out of the Symmetrical triangle consolidation last month we have seen USDCHF successfully re-test the breakout followed by new highs. This leads me to suspect we will continue to see this bullish continuation until we eventually reach the full breakout target @ 0.947. In the interim, I expect a possible re-test of the Monthly Pivot @ 0.925 followed...

FXAutomate

GBPNZD has been consolidating above the Daily 200 SMA for the past month and finally saw a breakout conformed by a close last week. This signalled us to start looking for a long trade setup (which we have highlighted on the chart). The target is 1.965 with a stop @ 1.942

FXAutomate

The GBPUSD has confirmed the large Head and Shoulders pattern with a break below the neckline @ 1.355 and I expect price to subsequently start breaking lower. I do however still think there could be one last pullback to above the neckline to either the Daily 21 EMA @ 1.365 or the Daily 50 SMA @ 1.378. But any bearish price action will likely see strong moves to...

FXAutomate

The EURUSD has once again confirmed it is trading in a downtrend by breaking below previous structure lows last week. This implies that we could expect another pullback to somewhere slightly below the previous swing high. In terms of key resistance levels, there is the Weekly R1 @ 1.170 as well as the 50 Daily SMA @ 1.176 and Monthly R1 Pivot @ 1.180. But perhaps...

FXAutomate

After hitting resistance from the overhead diagonal trend line we have seen the USDZAR pulling back on last week Thursday and Friday. It would appear that for today at least a re-test of the new weekly pivot @ 14.98 is a likely scenario that could lead to another move lower towards ~14.70 should we see price getting rejected. This level offers support in terms of...

FXAutomate

Bitcoin is now approaching a supply zone between 48500 and 50500 and could see a strong reversal from this area. Keep a close eye on the 48k level as selling could accelerate once the price falls back below this level. The YR2 @ 46k will offer some support but a break below this will more than likely re-test lows @ 40 to 42k

FXAutomate

ETH has broken below important structure support and similar to what we are expecting with BTC is probably looking to test resistance which currently resides with the Daily 50 SMA just above 3250. Any rejection from there will be very bearish and will likely see another test of recent lows in the vicinity of the Daily 200 and 100 Daily SMA's @ 2630 to 2750 respectively.

FXAutomate

Bitcoin has for now found some support from the Daily 100 SMA and appears to be looking for another test of resistance. The area of resistance I am considering is the Yearly R2 Pivot @ 46100 which currently finds itself right in between the Daily 200 and 50 SMA's. If price gets rejected from there and falls below 41k support a move towards the 365 Day SMA @ 38k is...

FXAutomate

For now, support from the Yearly R1 @ 15000 has held and we are seeing price once again heading higher, although it would be wise to remain cautious as there appears to be a loss of momentum. I expect price to meet some resistance @ 15460 with a break above this area being bullish. If price pulls back and/or breaks below the Weekly Pivot @ 15185 there is a good...

FXAutomate

For now, it seems the AUDUSD is in a corrective wave which might see it testing resistance from the Weekly R2 @ 0.735 should it manage to break above Friday's high @ 0.730. From there I would expect a continuation of the bearish trend as a new impulse wave could see price break under last week's low @ 0.721. The most likely area of support following a new impulse...

FXAutomate

GBPNZD has been rangebound in a tight consolidation right above the Daily 200 SMA since the beginning of the month and is starting to look like it is ready to break out. In the event of a bullish break, the first target would be where the Weekly R2 meets the Daily 100 SMA @ 1.963. Support then becomes the Weekly Pivot at the center of the range. If for any reason...