Technician

Technician Updated 

CADCHF At a potential reversal zone, downside is favored: The price has completed a three drives pattern at the 1.271 extesnion for the latest bearish wave The price is near the main overhead resistance area among 0.7565-0.7650 The 200-days SMA is around current levels Stochastic is overbought. Meantime, the overall trend remains bearish. Targets and stop...

Technician

After completing a retest towards the potential reversal zone I outlined in my previous analysis, at the main falling trend line and horizontal resistance, the pair headed back lower resuming the overall bearish trend. The price completed a another bearish double top pattern at that area as shown on chart, and broke below the neckline of the pattern at 0.7195....

Technician Updated 

Going short GBPJPY : Shooting star on the daily chart 200-DAYS SMA acting as a resistance Long-legged doji at the 200-days average 61.8 retracement level 1.27 extension level for AB wave Multiple bearish divergence on RSI Minor double top formation Targets and stop outlined on chart The countdown has started.. Check out The Forex Channel all-new...

Technician Updated 

Hello Friends, It looks like USDJPY is heading for a short term bounce of the main support region highlighted on chart amon 118.50-118.30. The price was rejected today forming a long-legged doji candle at that support. For the bullish scenario, i would book profits starting at 119.60, followed by 120.40 main next resistance. If 118.30 breaks, I would anticipate...

Technician Updated 

USDCAD is retesting a potential key support area: Main previous swing high or horizontal support area. Main rising trend line for the latest medium term bullish trend The 38.2 Fibonacci retracement for the overall bullish trend We might see a bounce from here, thus i would target 1.3000 as a first target for the potential bullish scenario If we break...

Technician Updated 

AUDUSD Made an impressive run to the upside recently. The rally extended to reach confluence multiple key levels at the red zone on chart: Main long term falling trend line(Dynamic Resistance) 1.272 extension for the latest bearish wave(AB) Previous swing high(Horizontal resistance) at 0.7430 Accordingly, Even if the upside to continue, I expect to see...

Technician Updated 

Looks like copper is ready for another leg lower in the near term. The overall long term trend for copper is still down. However for the short term , we have see an upside correction recently, however probabilities suggest that trading with overall trend is favored. And thus the recent pullback could be a good oppurtunity for another short. Technically, A...

Technician

It's clear that the USD is testing key level across the board.. Here is another chart that suggests how critical is the position of the USD. A major double top formed, with the price currently testing the neckline for the pattern around 16.35. A breakout with daily closing below the neckline would confirm teh double top pattern and establish a new lower low. On...

Technician Updated 

Hello friends, I have been absent in the past month from tradingview, as i had a very busy life and personal stuff. I am happy to be back and hope this will be a persistent comeback. Due to my absence, i couldn't publish this view.. However, late is better then never. We have seen a retest of the main support area among 1.4640-1.4600, however the price found...

Technician

The next key RESISTANCE area to watch for the EURGBP (0.7480-0.7500) .. Watch to trade for a reversal or a breakout . My Best Regards Technician Subscribe to my trading portal thefxchannel.com

Technician

Gold started a bullish wave recently. Establishing higher lows structure. However it is facing a key potential resistance area: The completion of ABCD Strcuture at the 1.27 extension level A horizontal resistance(previous swing high) at 1170.00 The 200-days SMA is few bucks above at 1176.00 So what's possible? The PRZ among 1170-1176 could provide short...

Technician

8) Volatility Studies on the TLT/SPX Ratio confirm danger is near Bollinger Bands: Definition: I have added a 52-week bollinger bands, which is a measure of market volatility, the band widen when the underlying instrument is volatile, while it narrows or squeeze when the underlying instrument gets in-volatile. Traders use bollinger bands in different way, one...

Technician

Breadth Deteriorated Sending a Serious Bearish Signal (6) The different between NYSE stocks making new highs and stocks making new lows spiked sharply lower, indicating a strong bearish internals behind the selloff. For a clear description of what that could mean, please read the observations marked on chart.. (7) Another breadth indicator which is the stocks...

Technician

Candle Signal: Shooting Star Implication: Bearish Invalidation: Closing above the candle High Warning: It is strongly recommended not to count on candlestick signals only for trading, use it in conjunction with other technical and fundamental tools. Subscribe to www.thefxchannel.com

Technician

The next key RESISTANCE area to watch for the AUDCAD over the near term.. watch for a reversal or a breakout . Subscribe to www.thefxchannel.com

Technician

The next key support area to watch for the WTI Crude oil over the near term.. watch for a reversal or a breakout . Subscribe to www.thefxchannel.com

Technician

Trade 28: Short AUDUSD @ 0.7150 Trade Status: Active S.L 0.7190 T1: 0.7076 T2: 0.7035 Balance = $29,126 Position size = 1.8 lot ~ 2.5% risk of capital =========================================================================== Reasoning -Retesting Horizontal resistance -Pin bars at retest -Overall short term trend is down -Strong U.S GDP Number Don't...

Technician

Trade 28: Short NZDUSD @ 0.6500 Trade Status: Active S.L 0.6560 T1: 0.6425 T2: 0.6350 Balance = $29,846 Position size = 1.2 lot ~ 2.5% risk of capital =========================================================================== Reasoning -Retesting latest swing lows at 0.6500, may act as resistance -Pin bar at retest -A major selloff yesterday,...