UnknownUnicorn207683

UnknownUnicorn207683

INDICATORS 1. Inverted Hammer 2. Bullish engulfing - Confirms reversal to the upside 4. Prices bounced off daily trend line (Support) - Bulls are still in control CHART PATTERNS A) 1 HR Chart Displays an ascending triangle inside of a bullish pennant-like pattern. OUTLOOK: After closing higher yesterday engulfing the previous days close, GBPUSD looks set to...

UnknownUnicorn207683

UPDATE: USD/CAD met previous expectations of a bullish run, smashing the expected target and closing above 1.23600 area. With that in mind, the weekly chart does show a bull pin bar and a bullish engulfing pattern, however waiting till next weeks market open will likely give a more clear direction. BULL INDICATOR: * Pin Bar false sell signal * Day candle...

UnknownUnicorn207683

AUD/NZD is trading outside of its weekly/monthly trend line (resistance level) with a bearish pin bar found at the peak of the bull trend, indicating a highly probable move lower in the short term. Prices also rejecting the weekly 76% Fib level around the 1.12600 area adding conviction to the bear signals with an expected downside target around 1.10300. Stop -...

UnknownUnicorn207683

Weakness in selling pressure is evident here with each bear candle reducing in size, indicating a reversal in the trend along with a pin bar found inside the cluster of bear candles. If the current 4HR bar closes @ or above $1,198.89 as a doji or a short body, gold will likely push higher and retest the $1,200 area (resistance daily zone).

UnknownUnicorn207683

INDICATOR: Head and Shoulders VIEW: With GBP/USD taking the course of the past 25 weeks (6 months) to form a complete head and shoulders chart pattern, and with a very bullish rising neckline, it looks like there's still plenty of upside potential for this pair. A retracement is expected, however the daily chart (at the moment) shows no bearish signal. If prices...

UnknownUnicorn207683

USD/CAD formed a Pin Bar after being pushed lower early in the trading day before quickly wiping gains and closing near its open. Prices reversed at key weekly support levels around 1.21250's area (0.236 fib level), forming a prominent pin bar. If prices close above 1.22553 (resistance) a move higher can be expected next week with a retest of key resistance...

UnknownUnicorn207683

INDICATORS 1. PIN BAR: Although not found at the top of the deliberation pattern, the length of the tail and the fact it failed to close above the (resistance) trend line indicates a bearish bias. 2. DELIBERATION PATTERN: Typically a reliable pattern if the third bull candles wick is longer than the previous two, however confirmation is required as the wicks...

UnknownUnicorn207683

INDICATORS 1. Deliberation candlestick pattern 2. Bearish candle engulfing previous bull candle 3. Price failed to close above 1.23600 (50% Daily Fib Level) TARGET 1: 1.22030 TARGET 2: 1.19446