TheFxAce

TheFxAce

Looks like we are finally breaking out of the 1.73 resistance that has been holding for just over 2 years now so what next? Looking at the weekly chart buying momentum has slowly been building up around the 1.73 level evident with the lower highs forming and then last weeks huge green candle to push through and close above 1.73. (see daily chart...

TheFxAce

I've not been on the charts this Month as traveling and not too much happening on the HTF picture. Though the AUDCHF is looking like a real good BUY on dips under 0.57 as you can see on the daily charts below the markets have been moving in a sideways accumulation since Aug last year a strong weekly support has formed @ 0.56 Monthly selling pressure has...

TheFxAce

The AUDUSD has been on a bit of a slide since the end of 2023, but now it's shaping up to look like a solid pick for a short-term buy that could turn into a longer term move here's why. We're hitting a really important spot on the charts - the Monthly BUY zone that popped up last November after a big jump from the low in early October. Back in October, I...

TheFxAce Updated 

The start of 2024 has been remarkably bullish for this pair, and we're quickly nearing an important resistance point: last year's high at 188.700. Today's higher-than-expected UK CPI figures might just be the push needed to reach this level. Taking a look at the daily chart, we see that since June last year, this pair has been in a sideways holding pattern. This...

TheFxAce Updated 

The EURUSD has been stuck in a range between 1.05 and 1.10 for around a year now. We're left wondering: could we see a breakout towards 1.15, or will it drop back to the bottom of the range at 1.05? What happens as the price dips below 1.08 could be crucial. Take a peek at the daily chart below. It shows us inching back down to an untested weekly BUY/DEMAND...

TheFxAce Updated 

In the closing weeks of 2023, this pair experienced a significant sell off, plunging nearly 500 pips and breaking decisively below the September low. Reflecting on my July trade idea post, the market movement matched my expectations, though it did peak slightly higher than anticipated. So, what's next? As I mentioned back in July, following the rise above 0.88,...

TheFxAce

I've been keeping an eye on this pair for some time now, especially since it broke down and stayed below the long-term range set after the 2015 crash. We're now nearing an important point - the 2015 depeg low, which might vary based on your broker. In my experience, Forex.com offers more reliable data, showing a depeg low just under 0.61. It's pretty...

TheFxAce Updated 

This pair is getting really close to its lowest point from last year at 0.94, and I'm beginning to lean towards buying. Here's my thinking. I believe we might see it drop below 0.94, but that could just be a quick move to trigger stop-loss orders, with lots of them set just below that point. If it does drop below 0.94, it might happen quickly, with a sharp fall...

TheFxAce

This pair looks like it is starting to transition into a longer term downtrend with the formation of lower highs and higher lows on the weekly charts. Last Month we seen a breakdown that was able to take out the October low at 1.75 and moved lower slightly creating the new low this is indicating that more HTF selling is on the cards and is why I will be looking...

TheFxAce Updated 

This pair is at a crucial point. What happens here will set its course for the next few months or even longer. Last week, it went above 150, but then there was a big drop. It seems the Bank of Japan (BOJ) stepped in, just like they did last year. When they did that last year, the price dropped over 2,000 pips in the following months. Will the same thing happen...

TheFxAce Updated 

This pair is fast approaching a key, higher weekly resistance level at 1.73, which was the origin of a more than 3,000 pip drop in 2022. The price has retraced all that move, and in August, we saw a significant 1,000 pip drop on the first test of this resistance, with the price slowly making its way back up to this level. We can see a weekly trend line being...

TheFxAce

Looks like the stars might be lining up for a big drop in this pair. Here's what I see: three big signs (or "confluences") are showing up, suggesting either a quick drop or a longer downturn that could last months. The first confluence is that we're in a Monthly SUPPLY/SELL zone. This is where prices dropped over 2,000 pips back in 2015, making it a prime focus...

TheFxAce

Looking to SELL this pair on a final push up towards 1.51 here's why. This level is very strong Weekly & Monthly resistance level and is the top of a sideways range that has been in play since 2021 each it has come to the top of this range there has been a strong reaction see the daily chart image below. Price managed to push above 1.50 on Monday before...

TheFxAce

This pair is on the cusp of a pivotal higher time frame zone that could trigger hefty selling. Recall last week's spike? Prices surged, barely grazing the 1.39 mark before tumbling nearly 300 pips by week's end. This week, however, prices have retraced almost entirely, hinting that buyers might be gearing up for a shot at the 1.40 level. That 1.40 mark is...

TheFxAce

BTC is looking great for buying the pullback towards the 32k mark here's how I see it. We have broke out of a key resistance level around 32k with a weekly close above this level with price running into some resistance at 35k which is actually a Monthly swing low from last year hence the stall in price. The next likely path is a pullback towards the buy zone...

TheFxAce Updated 

This pair has grabbed my attention once again, following my last trade idea back in August where I thought the price had peaked (and I still think it might have). We saw the price drop initially, just touching 160, which was around the first target I mentioned in my previous idea (you can check my related post for details). Since then, the price has been going...

TheFxAce

As we're on the brink of breaking below the 0.63 support, which has held steady for the past couple of weeks, and considering the lackluster strength in the recent upward bounce, it appears that a downward breakout is in the cards. Taking a peek at the weekly charts, we spot a couple of intriguing levels just below, which are likely to catch the eye of potential...

TheFxAce

I find this pair interesting, and there is a bias for both a long and a short trade, which I'll explain in this post. Let's start with the short trade idea. Last Friday, there was a significant move as the price broke below the 1.105 support level, which had held since August last year. The price dropped to the next support at 1.09 and has since bounced back...