This is an interesting chart. Price has finally hit some support from March of 2020. I think we're in for a quick push up indicated by some long tales at the support line, an engulfing bullish candle and a divergence on the stochastic and to a lesser degree the RSI. Price may be choppy over the coming weeks while the bulls and bears work things out. In the short...
It looks like the overall trend wants to continue to the upside, but in order to do that it has to break through the double top thats forming. In the short term im going short. Coming down off the double top supported by the downward divergence on the RSI and stochastic. Looks like some easy pips short this next week.
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Price has decided to rest while the stochastic and RSI have fallen off indicating some weakness. Not sure if price will completely change direction but it looks like the push is cooling off and we may be in for a short correction.
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Typically i dont advocate trading against the trend. However in this case we might have a reason to. Price seems to have hit some resistance from 2020, and rejected going higher july 14. we are at a decision point. the stochastic is showing a bit of a squeeze that suggests price may fall, resistance in price forming a double top. looking back on 2016 and 2018 we...
Looks like we have Pushed off the 200MA two days in a row, i dont think today will be any different. Currently in a down trend, price is also hitting some resistance from the june 2nd low. looks like easy money to me.
What are your thoughts?
The Japanese Yen has been on the defensive against the US Dollar for the past three weeks. The rally takes price through long-term downtrend resistance most likely the result of extremely poor economic data coming out of the YEN a few days ago. IF price can mark a weekly close above the trendline moving long could be a good play.- simply put, we’re looking for...
GBP/NZD has been on an upward trajectory since the start of the year and a series of higher lows remain in place, adding to the bullish outlook for the pair. Trendline support remains in place and has provided an uplift every time it has been approached. However with the EU and the UK continuing to take hard line positions ahead of detailed Brexit talks I think...
A senior EU official, speaking at a conference in Germany, warned that the EU and UK may ’rip each other apart’ when trade negotiations begin, as both sides look to take the upper hand. French Foreign Minister Jean-Yves Le Drian said that the EU will be a tough negotiator when talks begin in March and that a trade deal between the two sides this year is unlikely....
The Canadian Dollar continues its recent out performance against the US dollar and is currently pressing down on a noted support zone. USD/CAD has turned lower after hitting a four-month high last week, helped by a small rally in the price of oil off its multi-month low. The price of oil however will remain under downside pressure, as investors fear that hit to...
AUDCHF has been in a downward trend for the last 2 years and i would assume that will continue into the near future. the channel was drawn on the daily chart and trade set on a 4 hour chart. Price has broken through the bottom of a consolidation sitting under our EMA ribbon. It is always possible price will move back into that range but i believe the pressure from...
We saw a lot of price movement today, depending on where you placed your trades you were either very happy or very sad with your new P/L. Keep in mind its always best to trade with the trend and even better if you find some momentum in the direction of that trend. On the daily chart we can see price has been going sideways since 2018. we are currently at a high...
Hello everyone,
USDCHF has been showing some resistance structure between the .5 and .382 fib levels aided by the physiological barrier at the 1.0000 mark. I suspect over the coming weeks price will go down and retest support at the .9696 level.
Enter at .99658 Stop at 1.00339 Our Target is .96965
Happy trading
Greetings
This is what I would consider a good example of resistance structure between the .5 and .382 fib levels. Price may break out and return to previous highs but I don't believe it will without retesting previous lows.
Enter at 1.32860 Stop 1.33533 Target 1.30273
happy trading
Greetings
Price seems to be rejecting the .5 Fib level confirmed by the longer tails on candle sticks. Although there isn't much structure to say price will turn to the upside, it is something to watch.
if you're looking to trade, Enter at 106.816 Stop at 106.396 Target at 108.475
Happy trading.
Greetings,
It looks as though price is looking to reject the .5 fib level for a second time and move lower. following the greater trend.
Enter at .67484 Stop is .67988 Target .65503
Price has sharply fallen into an area of support, there is opportunity in an potential bounce. Wait for price to turn then enter. enter at 1.31411 stop: 1.30620 Target: 1.33175
Happy trading
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