Hend_Abdulhameed

Hend_Abdulhameed

it's been a while since i talked about this pair, but generally, we were targeting short positions after it hit 0.7050. the market soon after rebound from that level, not long enough to show some weakness reaction from the buyers near to the resistance area around 0.7200 handles, where we resumed our short positions targeting 0.7500. 0.6990 and 0.6845...

Hend_Abdulhameed

long legged doji followed by bearish engulfing pattern lead to a negative reaction.

Hend_Abdulhameed

The pound had a quite volatile range for the past few weeks between 1.3030 and 1.3315. nevertheless, the market has surged at the beginning of this week, reaching the ceiling of the resistance area at 1.3315 and most probably may grind this market even higher toward 1.3445 if the pair makes a break above 1.3345. on the other hand, don't forget that we have seen a...

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The pair eventually fell to break below 1.1690 which is the neckline of the big head and shoulders that we have mentioned in the previous post. now because of that, the major preference for the market is more likely to be driven down as long as the market below that neckline level, and sellers would trigger 1.1480 level as their bearish target.

Hend_Abdulhameed

The Canadian Dollar fell against the US dollar and broke the stubborn level at 1.2600 handle which was the gate for buyers to push the price higher and trigger previous highs that were our major bullish targets as shown on the chart. with that being said, the pair is more likely to continue to go higher, however, keep in mind that the market is at a significant...

Hend_Abdulhameed

The pair hit the short selling target at 1.1740 and found a good amount of a support to rebound from it towards 1.1850. as the buyers strengthen at this point, I think a break above 1.1835 may clear the direction to the upside to trigger 1.1900 handles. however, keep in mind that the 1.1900 level could face a resisting action as the market is trying to form the...

Hend_Abdulhameed

the pair yet in a small range battling around the 50 and 200 EMA's in the 4H chart. however, it has shown a good amount of a resistance above the 200 EMA at 1.2450 which is also a minor support area. I think the market still needs to break 1.2600 level to clear this bullish movement, nevertheless, with the selling action around 1.2600 handles is still on, the pair...

Hend_Abdulhameed

And finally, the USDJPY had a nice rhythm after the significant bearish engulfing pattern that happened on OCT 6th ( shooting star on the daily was mention on the previous post). the pair has broken 112.20 and pulled this market toward 111 regions, personally, I'm aiming for 111.50 as the market is still trading below 112.50. a break below the first target may...

Hend_Abdulhameed

The Euro hit the target at 1.1795 as expected and currently, we see a bit of a buying action around this area that I call a minor support level on the 4H chart. if the pair could break above 1.1820 we may see a rally back to 1.1850 as a first bullish target and 1.1870 as a second one. however, the market is still struggling within a close range around both 200...

Hend_Abdulhameed

Although the Euro closed above 1.1850 but not long enough till it had followed by a bearish engulfing pattern around the same region on the 4H chart. In the meantime, the Euro may face a bit of resistance and perhaps meet 1.1795 which what I call it a minor support in the short time frame. With that being the case, a supportive candle around 1.1795 might drive the...

Hend_Abdulhameed

The Pound had successfully made its way towards 1.3250 as expected to form a bearish engulfing pattern around that area which I personally indicated on the previous post that the market is still bearish below 1.3250. currently, the Pound has already hit the target at 1.3150. a break below 1.3120 may drive it even lower toward 1.3065. but keep in mind that the...

Hend_Abdulhameed

now look at this piece of art! the skyrocket, the Dow Jones! I don't even have to mention how this market is extremely bullish, because duh! it is! but I just want you to focus on the volume of trading, so far the market couldn't make it to break the swing high of the 5th of Oct. which kinda refers to a weakness sign at this point. however, it's not enough reason...

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I have mentioned previously about the possibility that the gold would have driven the market lower to 1255.55 if it has broken below 1268 handles. although the market has traded lower for last two days yet it failed to break the mentioned level and rebound from 200 EMA on the daily timeframe. with that, the buyers are clearly trying to impose themselves at this...

Hend_Abdulhameed

the pair eventually broke the stubborn area at 0.7130 and found its way to 0.7050 handles. At this point, the market may face lower boost since it's trading underneath both 50 and 200 EMA's. a break below 0.7050 may open up the floor for 0.6990. and as long the market is generally below 0.7130, the pair remains bearish and I'll be looking for an exhaustion candle...

Hend_Abdulhameed

The most boring pair to trade with at the moment! seriously nothing interesting for weeks now, however, have you noticed the shooting start of last Friday on the daily timeframe? that is a massive sign of weakness in here, yet it would be pointless if that weakness hasn't followed by a confirmation to sell below that shooting star. I still would love to see a...

Hend_Abdulhameed

The Pound ultimately fell down toward 1.3030 as expected. as today's session has begun, the pound has shown a significant rebound from the support area of 1.3030, and speaking from a short-term perspective, as the pound is currently crawling up to 1.3250, yet it still considers to be bearish below that level especially if it fails to break above the 50 and 200 EMA's.

Hend_Abdulhameed

The Euro has made its way to hit the target at 1.1690, in addition, it also has formed a hammer on the daily chart last Friday. with that being said, the Euro might show some resistance at this particular level as traders have revealed hesitation on the previous weeks for I think a break below 1.1690 may boost this pair lower to 1.1580, although the main trend is...

Hend_Abdulhameed

The pair has been traded lower for the past two weeks, and currently, it concentrates around minor support level at 132.18 handles, although the market is upmarket on the long run, nevertheless, as the pair is holding below 133.50, it would be a good catch to trade a retracement from here if a break happens below 132.18 level and not before that to think of...