FreeForexSignals4u

FreeForexSignals4u

After 5 waves down we had divergence followed by convergence and a Pull back to the support zone. The hidden divergence is an indication the upside will resume and we can target the previous high once again. See the 1 hour chart analysis for entry

FreeForexSignals4u

On the Daily chart we had 3 waves down followed by a 2 wave correction to a magnet zone which is a 50% retracement of the 3 waves and support and resistance. The 4 hour chart is showing divergence between the two legs up and also divergence on the last two higher highs on the 1 hour. To trade this conservatively I would like to see a convergence or convergence...

FreeForexSignals4u

We are at the end of a 3 wave impulse cycle to the downside with consolidation and strong resistance on the weekly chart. Not mush to see on the daily chart but things look interesting on the 4 hour with a false breakout divergence and continuous divergence. There is also convergence confirming sellers coming into the market although we could see another false...

FreeForexSignals4u

Although we have good signs on the 4hour chart with divergence, etc and the bounce off the local support. I believe this would be a short-term option to, the bigger picture. The Fundamental outlook for the GBP is not great at the moment with supply chain shortages and rising inflation so I believe a dip lower could be on the cards. We have good support coming up...

FreeForexSignals4u

On the weekly chart we have started to consolidate on the C leg of a corrective ABC pattern. This consolidation is in the form of a wedge pattern. Taking it down to the hourly chart the wedge has not completed 3 waves down in the wedge and we have hidden divergence on the MACD. I expect to sell this from the psyco number back to were the hidden divergence began....

FreeForexSignals4u

We are still in a bearish trend on the EUR/USD until the 11890 is broken and shows support. the recent strong move up suggests the start of a new buying trend but has stalled at this resistance level and shows rejection in the form of a pin bar on the daily chart. If it is the beginning of a new motive phase then we should see wave two pull back to the 50-61% fib...

FreeForexSignals4u

We have been waiting for this pull back into fib levels and previous support and resistance. see the linked idea

FreeForexSignals4u

Although we are in a downtrend on the Daily chart we have reached a significant support level on the weekly chart which shows a Fibonacci pull back on the uptrend. We have some divergence happening on the MACD. A cross of the histogram over 0 would be a good opportunity to buy or if we see another drop then look for a retest of the previous low.

FreeForexSignals4u

As I put in my previous analysis I was waiting to see rejection from this level. This is taking on the form of resistance but I would like to see a new low on the hourly candles in the above chart to enter. See the analysis in the linked charts

FreeForexSignals4u

I am just waiting to see rejection from this level. I will probably have an entry in the next hourly candle. check out the analysis from the 19/08/21 on this trade in the linked ideas.

FreeForexSignals4u

I will be looking for a strong candlestick pattern once in the yellow rectangle. This is a major support and resistance area from the past and the 61% retracement for the current uptrend.

FreeForexSignals4u

The move and pull back on the CHFJPY has painted an interesting picture of what might happen next. You can see the pullback on 18th June was preceded by a consolidation that failed to break the 76.4% and 61.8% convergence of the Fibonacci retracements. these same convergence figures are showing strong resistance at 50% and 38% which are directly on top of each...

FreeForexSignals4u

Looking at future possible trade scenarios ahead of time. This scenario is contrary to the current sentiment for both currencies so I wouldn't be surprised if we just see a range-bound chart between 17100 - 16600. However, if it does break then the above pattern is what I will be looking for with a retest and rejection of the 171100 area for a potential buy trade.

FreeForexSignals4u

This trade is related to the bullish bat pattern that came to my attention on the 4 hour early last week (see linked ideas). There are a few fundamental aspects weighing on the GBP at the moment. A good PMI reading today would really help this get underway. We are seeing a shift from long to short on JPY on the COT report and a few extra longs have been added for...

FreeForexSignals4u Updated 

As the GBP/USD breaks support we are looking for a pullback and that support to become resistant. Together with a prominent candle pattern will determine the sell entry at the new resistance level.

FreeForexSignals4u Updated 

This trade idea dates back to 16/6/21 you can see the analysis in the linked ideas below. After the breakout of the long-term descending channel, I have been looking for a good reason the buy this. You can see the higher highs and the two higher lows clearer on the weekly chart but I wanted to clarify my stop loss hence the 4-hour chart display. On the weekly, you...

FreeForexSignals4u Updated 

The EUR/USD just broke the April strong support a pullback to this area and an indication of fresh sellers coming in should pave the way down to the next support level.

FreeForexSignals4u Updated 

The monetary policy minutes released this morning have seen some downside in the AUD. However, nothing has really changed in terms of monetary policy so the downside could be limited. In terms of sentiment, Commercial traders shifted to longs after last week so I will keep a close on of this for Monday. In the meantime we will see if this bullish butterfly pattern...