The_Forex_Path

The_Forex_Path Updated 

Hello Traders. GBPUSD is showing 4H and 1D bearish structure of LHs - LLs. The ascending trendline in the 4H TF is broken and a new descending trendline is under process. I am waiting for a break of structure of the current support and a retest as a resistance + trendline test for entering bearish. On the other hand, a strong breakd and wick in the bottom of...

The_Forex_Path Updated 

EURCAD miscallaneous scenarios depending on what the market is going to give us. EUR important news this week...

The_Forex_Path Updated 

USDCAD has invalidated the support. Focus on price action at the retest.

The_Forex_Path Updated 

AUDUSD is just at the supply zone. I count on seeing a weak pin bar rejection in some pips more to the upside, and then a drop to support.

The_Forex_Path Updated 

Hello traders. Hope you spent a wonderful weekend! Gold is currently in very significant area. If you look higher at Weekly timeframe you will notice that this is close to the previous supply zone, a zone of strength. On the other hand, forecasts and fundamentals indicate that this specific metal will create new All-Time Highs during 2023. So,as a traders we...

The_Forex_Path Updated 

EURJPY has been skyrocketed like the rest JPY pairs. This is either a shift to the recent bearish trend to a bullish one, or a consolidation trap to grab buyers. Anyhow, I am not fond of many pips these days regarding JPY pairs, so I will not stick to the trend for the moment. I am interested in bounces. I see resistance levels which have given strong push to...

The_Forex_Path Updated 

Observing weekly TF of EU, it is clear that the price lays to a key level. It makes sense such a retracement acompanied by 0.618 Fib level. Around 1.052 is a decent area to go long according to my viewpoint.

The_Forex_Path Updated 

Yen has shown bearish momentum that's why we saw all yen pairs skyrocketing. GBPJPY is in a resistance zone with a possible scenario for correction. As a pair provides high volatility and its ADR is usually extended. So, take care of your SL and do not overthink the process.

The_Forex_Path Updated 

Hello traders. Daily it is still in bearish trend but in 4H it seems that it is under consolidation. Observing strong rejection - bounce back levels key areas like 4H support and resistance will show the direction: Either break or bounce.

The_Forex_Path

Neutral on Gold. Fundamentals push the price higher. Short term price action is indicating a correction to 1820 area. So, better to keep alerts in major levels of weekly supply and demand zones and act accordingly. In the short term, the bearish momentum may be more possible. A general consolidation in 1854-1875 is on the table.

The_Forex_Path Updated 

Hello Traders. GBPJPY at a resistance level. Possible sell to be triggere.

The_Forex_Path Updated 

XAUUSD has become unstoppable. Weaker DXY - USD dollar, high inflation and a global upcoming financial recession pushing the precious metal higher, on the road of the monthly and weekly liquidity (wick) of 2000. At the moment the price is at the upper trendline of a bullish channel. So, I am expecting a correction and I intent to buy at a decent dip. Most recent...

The_Forex_Path

Bearish structure for USDJPY. Currently the price is close to descending trendline and resistance area. Possible Sell! Take a look at major news.

The_Forex_Path

GBPJPY is in deep bearish trend. The formation of descending trendline is clear. It is a pair of big retracements though. That means it would be better reduced position size and aim of more pips while at the same time SL should not be closed. Otherwise it's pretty predictable and it 'll be hit. There is a huge bottom wick which was used as rejection with respect...

The_Forex_Path Updated 

In my point of view I think that this day long price action is forming a retest for weekly and daily major broken support level. GBP pairs usually react to 0.5 Fibo retracement levels. If it breaks the upper zone I'll change my mind to long. For sure price may buy back up for the short-term pushing possibly to 161 - 162. The thing is if it will give wicks or...

The_Forex_Path Updated 

Eurjpy is moving towards daily resistance. I consider this as an opportunity for entering short-due to the overall 4H trend remains bearish. Only a strong break above will make me change my mind and shift to bullish.

The_Forex_Path Updated 

GBP 4H chart indicates downtrend. The former bullish channel has been broken. At the moment the price is a little above of 0.618 Fib level starting from the last swing high. If the resistance does not hold, then it may be a shift in the trend. Until then, I more into shorts for the pair.

The_Forex_Path Updated 

CHFJPY is in an interesting point. Last time the price hit that level, we saw a drop. I consider it as an OB area, so I am expecting a bearish continuation or a possible spike above the zone, touching the 0.618 Fib retracement level. Two profit target areas.