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Mncotshe Updated 

GBPCHF is back at price levels which previously provided strong resistance. This area is also near a round price level 1.3100. This combined with the upcoming Non Farm Payroll for Switzerland coming out within a week, promises plenty of price action movement. RSI is also indicating pair is close to being oversold (was already but crept back under). Strong...

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Bullish channel that bottomed out with double bottom confirmation

Mncotshe Updated 

There is a possible advanced harmonic pattern forming - Bearish Butterfly Here are met parameters so far: - AB leg is a 88.6% fib retracement of the XA leg - BC leg is a 61.8% fib retracement of AB leg In order for the pattern to complete: - CD leg has to reach a 127.2% fib extention of XA but not break 161.8% extention

Mncotshe Updated 

Pound has hit previous structure resistance and stalled. Formed a consolidation rectangle. Looking at it to break consolidation and reverse Bearish. There is Japanese economic news coming up which may provide the necessary momentum to break consolidation.

Mncotshe Updated 

A pennant triangle has formed indicating that price action will break out either above market price or below. Seeing as gold is currently trading at market highs, the stall in price action suggests it is losing bullish momentum and could therefore break downwards towards precious Support. Or as due to the longer term bullish trend line it could continue higher...

Mncotshe Updated 

There is a chart pattern that has formed indicating a possible rebound off the 1309.27 support level to break through bullish through the trendline as shown.

Mncotshe Updated 

The EURNZD is in a bearish channel coming off resistance. With high impact news both from both countries to support price movement. Expecting a break of this mini consolidation, down towards support level as denoted in blue rectangle. This support level has shown it can provide resistance to bearing price movement (see orange arrows). Stop loss is above previous...

Mncotshe Updated 

Usually this pennant pattern means price action can go either direction. Meaning it requires patience and to wait for a break (aggressive) or break and retest (conservative) before entering. Given the macroeconomic state of Britain with bearish sentiment regarding the Brexit deal and the formation of this Pennant triangle pattern my bet is on it to eventually...

Mncotshe Updated 

Potential head and shoulders pattern formation. Watch price action for retest of support at 82.305 to complete pattern. If it breaks the neckline (yellow line) expect a retest and and bearish price action to follow.