ichimokucharts

ichimokucharts

Today we saw a confirmed change of trend to the upside in the AUD/USD with a higher high and higher low. But the change of trend has occurred on a Spinning Top type of candle which tends to denote indecision in a market. That is mainly due to the contraction in the size of the body of the candle. The size of the body denotes net momentum between the open and close...

ichimokucharts

We've seen selling today in the AUD/USD, with the sellers taking back control on a black bodied candle. Buyers were strong enough to extend the trend further to the upside but lost control and commitment by the end of the trading day to end very close to the lower 1StD Bollinger Band. The inability of the buyers to close within the upper half of the bands suggests...

ichimokucharts

Hrly AUD/USD looking a little overdone to the downside here. Bollinger Bands are looking a little wide, so we could see a mean reversion back to the middle of the 1StD BBs soon. Watching the lower band to hold as resistance. Any bullish activity through the lower band may retrace back to the middle, which will probably correlate with the Pivot Point level at...

ichimokucharts

EUR/JPY is looking like it wants to become bearish on the hourly charts. We're seeing some negative trading below the lower 1StD Bollinger Bands. If it closes in a strongly negative manner (bearish candle) below the swing low at 129.48, we could see USD/JPY trading down to the S1 Pivot Point level at 129.27. Remember, we need to see that bearish close.

ichimokucharts

Following an extreme trading day with the market testing to the 3rd PP level, we don't tend to see strong follow through the next day. We are likely to see the market either pullback or go sideways for a day, with the buyers likely to resume in a day or two. If we do see any upside, it probably won't be of the magnitude of the extreme day. The 1StD Bollinger...

ichimokucharts

Extreme candle with buyers strongly in control and committed - looking for AUD/USD to have a rest at the PP resistance level.

ichimokucharts

Buyers returning to AUDUSD - bouncing off minor Pitchfork. May face some resistance at median line at 0.7816

ichimokucharts

GBPUSD on the hourly charts looks way overextended to the downside. Bands are too wide. Looking for buyers to mean revert back to lower band around 1.30 off the back of a possible bullish hammer reversal pattern. Of course, confirmation will be required with bullish activity above the previous candle's high at 1.29759.