FX:EURGBP It looks like the rate may currently be working on a large head and shoulders pattern. We'll have to wait and see, how it reacts with the neckline at 0.8300, and even if it can get there as we have couple of important rising trendlines in the way. If we see a break below the dotted one, below 0.8460 I’d say we have a pretty good chance we'll see the...
FX:USDJPY After the initial rejection from the potential double bottom neckline the rate has fallen down to test the support at 112.20 again, therefore, invalidating my bullish bias. I am now looking at this as a descending triangle or a box-range set-up and I am looking for a break below the support to enter new short positions. Remember it can still turn...
FX:GBPUSD We could be looking at a double bottom here. I am very interested in how the rate is going to act around the neckline at 1.2780. At the moment I am looking more at the neckline break to trigger the double bottom set-up to target the former major support/now resistance at 1.3475 which interestingly enough seems to also be the approximate 100% breakout...
TVC:USOIL The price has been trading in a tightening triangle/pennant range for the past 2 months. I am more bullish here as the prevailing trend is up and the support stronger because of the rising gap from the last week. I am looking for a break above 54.00 to target the 61.8% and 100% breakout targets around 56.85 and 58.70. A downside break below 51.05...
FX:USDJPY The rate broke the January falling trendline and the falling gap resistance invalidating my immediate bearish bias on the pair. I am now looking at this as a potential double bottom formation and will be looking for a neckline break at 115.50 to target the yearly highs at 118.60. A strong rejection from the neckline would indicate further range...
OANDA:XAUUSD The price broke through the major psychological resistance at 1,200, which was also a major polarity change as the old support/new resistance, and right after the break it has been stalling just above this level forming something of a double top. I am looking at this as a bull flag at the moment as long as we are trading above the rising trendline...
FX:USDJPY The rate has been trending down since the start of the year and at the moment seems to be working on a descending triangle with a base at 112.55. I will be looking at the falling trendline resistance which is also a resistance created by the falling gap. If we get a rejection here we’ll have a good risk reward for a short term downside trade to...
FX:AUDUSD Similarly as NZD/USD the aussie is testing a major resistance - the old former falling channel support as the new resistance which has proven to hold the rate since the start of 2015. At the moment I am looking at this as a symmetrical triangle formation and the next move will depend on how the rate reacts to the current levels. For a new long...
FX:NZDUSD The rate has climbed up to test the two-and-a-half-year falling trendline resistance (which is also a 3-month-long falling channel resistance) At the moment I am flat/slightly bearish and will be looking for a reversal pattern at the resistance (double top or head and shoulders pattern) to target the the rising channel support around 0.7000. Only a...
FX:USDCAD After testing the the original breakout low at 1.3030 the rate turned around and rallied back inside the previously broken rising channel thus creating a small double bottom formation. It has also broken the short term falling trendline resistance, therefore my immediate bias is now higher. I will be waiting for a pullback towards the broken double...
FX:USDCAD Last week the rate broke it's 7-month-long consolidation channel. I am now looking for a small retracement higher or a short term consolidation pattern break to enter new short positions. The November and December highs at the top of the channel can now be looked at as a double top pattern, so my first target is going to be 1.2730 (the 100% breakout...
FX:EURUSD The rate is currently testing the neckline of a small double top formation which has formed at already established range resistance. I am looking for a downside break below 1.0505 to enter new short positions to target the range support at 1.0360. A failure to break through would invalidate my immediate bearish bias as it would suggest a short term...
FX:EURAUD As expected after falling back inside the familiar range the rate pulled back to test the upper boundary and turned around right on the spot at 1.4470. (watch the video on full trade idea here ) As I have closed a part of my initial position and my stop's at break even - I will be looking to scale back in the trade. I will be looking for a pullback...
FX:AUDNZD The rate is currently testing the almost year-long falling channel resistance. This channel's slope has been very important for the past year and a break above would indicate a more meaningful retracement higher. I am looking for a close above December's high at 1.0525 to enter a small long position to target the possible inverse head and shoulders...
FX:AUDUSD AUD/USD DAILY The rate broke the gap resistance yesterday and is now testing the 3-month falling trendline and former support level at 0.7330. It came within 10 pips of stop loss, but I am still holding the positions and will be looking to scale in the trade. My bias is still lower, however I am will be waiting for today's NFP figures before...
FX:USDCAD The rate has broken the 2016 falling trendline and is now testing it as the new support. As it has formed a hammer at the former resistance and we are still trading within the rising channel I am more bullish here as long as we are trading above the former trendline. The immediate attention should be turned to the 1.3575 level as the rate seems to...
FX:EURAUD The rate broke the consolidation range but run straight into the major falling trendline from August 2015 and fell right back into the familiar range so I am now looking for a pullback to the former support which should now become a resistance around 1.4440 to 1.4470 to target the lows around 1.4120 again. To check the video about my weekly set-ups...
FX:AUDUSD The rate is currently pulling back higher to test the former support new resistance zone at 0.7280-0.7300 which is also a falling breakaway gap resistance from December. I am looking for a short entry, preferably somewhere around the falling trendline resistance (black) from November. Take a look at my video about weekly set-ups here