pasojov

pasojov Updated 

EURUSD looks set to continue its bullish rise up to the last biggest resistance/0.618 fib level, 1.25. To break down what's happening on the chart: The red line represents the long term bearish trendline that started in 2008. In October, fibre pulled back after breaking the trend and bounced strongly off it, signaling a new long-term bullishness. The orange...

pasojov Updated 

The dump earlier today was an emotional one. This is apparent from the big red candles going from the 0.786 level to the 0.5 level in 7 hours. It's investors acting on fear. This, combined with the bounce off of the support zone & the 0.5 level gives us a recipe for a quick recovery. Those who sold off realise they're wrong, buy back in. Those who sold the...

pasojov Updated 

Since the start of the year, price has been in a HH/HL uptrend. Following this structure, we can assume that price will do the same this time round. The 0.786 level at 105.4 is likely to hold due to a) it being a fib level b) being a previous 3-touch resistance. We can enter here with a stop loss below the previous low at around 104.25 with a take profit at the...

pasojov Updated 

Since reaching $30 and coming back down, XAG has been stuck in a beautiful technical structure. It bounced straight off of the long-term fib at around $26.15 before becoming range bound between the weekly support at around $26.85 and the recent 0.618 level at about $27.75. Last night after the market opened back up, XAG crashed back down to the long term fib at...

pasojov Updated 

GBPJPY is in a previous strong weekly resistance zone at the moment. This zone has been in play since 2017 and the last attempt bounced strongly off it. We're now revisiting after breaking out of a rising channel and given we haven't had a correction yet (and the price is relatively far away from the EMA), I can see a move back down to 144.57 (the nearest support...