A possible cup and handle formation on the monthly time frame , price is possibly forming the handle right now
We see that price has potentially formed an inverted head and shoulder pattern , with price now approaching the neckline of the pattern we could potentially see a break and retest of the neckline for the chance to go long .From the fundamentals ,NORWAY CENTRAL BANK has decided as of 22/6/2023 to raise interest rates 3.75% beating the markets expectations of 3.5%...
In the daily timeframe price has been moving in a symmetrical triangle , we see that price has touched the lower trendline of the triangle , which fueled a move to the upside before a retracement of just below 78.6% , Now price formed a W pattern then retraced to the neckline of the W we could see a potential upside from this neckline . However NZD being in...
As we wait for GBP CPI news later today and the BOE rate hike decision on thursday , its good to remind ourselves that one trade doesn't make us its a marathon not a race . The volatility associated with these fundamentals is always a double edged sword . STAY WOKE
The target of this pattern is measured by the depth of the cup , by measuring we see that price might continue on this bullish run to 1.11690 which also happens to be an important resistance from which the markets made a rally to the downside back in 31 march 22. Fundamentals are also on the EURO side as Europe exchange rates were higher after the European Central...
We see in the 4H timeframe price has been creating a cup and handle pattern , insinuating an impending bullish market with the DXY currently in disarray giving further confluence