We can see a W formation on the weekly chart and we can expect the market to go and test the neckline of W formation.
AUDCAD is very bullish right now. So, we want to see AUDCAD reverse and make a retracement before continuing further.
But, from the daily chart, we can see AUDCAD breaking the 0.95750 resistance level and making a higher high. So, not a good...
In the monthly chart, we can see the market made an impulse and correction. But the correction was weak and didn't even reach 0.382 fibo retracement. Also if this monthly chart closes above the previous monthly resistance we will likely see a higher high.
In the weekly chart, What we can see is a big accumulation. Here retail traders closed their long...
AUDNZD has been making strong bearish movement for 3 weeks. But recently the market is shifting from bearish to bullish. We can see on 4H that the market is consolidating. And today the market broke the consolidation but we have to see close above the consolidation level on 4H. So, if the market closes above the consolidation level then on the retest of that...
First XAUUSD broke the daily support of 1920.00 and made a big move to the downside. After that big impulse market retested to the 0.618 Fibonacci. In the retest, the market created a head and shoulder pattern and a trendline. I made an analysis explaining from here why we wanted to see XAUUSD made a move to the downside. The market broke the trendline tested it...
USDCAD has made a big move to the upside today breaking the daily and weekly resistance. There will be a good opportunity on USDCAD if the market goes and retests the previous daily resistance and makes it a support level before continuing higher. From that level, we can look for a long on USDCAD.
Last week on the daily GBPCAD has made an Impulse to the upside and went for a retest of the impulse almost to 0.618. So, from daily we have a bullish outlook also today on 4H market shifted from bearish to bullish and we can look for big long from here.
I will open a long from 1.71700. But keep in mind that we have a strong resistance in the weekly chart on...
EURCHF is moving in sideways after breaking the 1.07400 support level. So, not a good opportunity right now on EURCHF. But, if we see a daily close on EURCHF below the 1.07000 support level then in the retest of that impulse the support will turn resistance and from there we can take a short. So, firstly we have to see EURCHF break this range and a daily close...
AS I said in the last GBPUSD analysis if GBPUSD breaks the range we will have a good long opportunity on this pair. The previous week I wasn't sure GBPUSD will break the range because there were -9.8k positions on cot data. But USDOLLAR weakness driven GBPUSD to the upside. This week GBPUSD has only -2k positions. So, looking good for our bullish outlook. Now, the...
GBPUSD is in range for more than 3 weeks now. But this week GBPUSD might break the range and go upside. If GBPUSD breaks the range then on the retest of the impulse the daily support will turn into resistance. So, we will have a good opportunity to buy GBPUSD. But GBPUSD can also continue to the downside and stay in this range. GBPUSD is weak and so is USDOLLAR....
EURGBP has broken the channel to the upside and the market is looking quite bullish. It will be best to buy this pair in retracement. When the market goes and retests the 0.382 or 0.5 fibo watch on 4H for a long opportunity.
EURAUD has finally broken the range and made a spike to the upside. The market looks overextended to the upside and we can look for a short anytime soon. Remember that EURAUD can continue even higher. But the market has a very high probability of testing the strong daily resistance and making it support level before continuing higher. Also, the daily support will...
We can clearly see an M formation on the daily chart and we can expect the market to go and test the neckline of M formation sometime soon. But right now the AUDUSD chart is very bearish and the cotdata also added a lot of short on AUD. So the market can break the daily support and continue even lower. It will be foolish to take a long right now. To take the long...
Gold is looking really good for a short opportunity. we can see on daily the head and shoulder pattern also a channel from where gold can continue to the downside. Possibly to the 0.382 or 0.5 retracements in the monthly chart.
I sold gold last week in 1910 but closed the position because not enough short was added on cotdata. Gold is a highly volatile market so...
NZDCHF has broken the channel to the downside as expect and it's time to look for a short. The best time to sell will be on retracement. watch on 4H for a entry.
Audchf has reached the daily support of 0.64600. From here we can expect the market to make a retracement and make a lower low on the daily chart. it will be best if market reaches the 0.5 or 0.618 fibo retracements because then daily support will turn into resistance. Or the market can also test 0.382 and continue to the downside. We have to watch on 4H for a...
Nzdusd has been broken below daily support. And now we can look for a short on this pair. To open a short position watch the 4H chart after 4H chart retraces to 0.5 or 0.618 then the daily chart's support will also be turned into resistance and from there we can take a short.
usdcad has made it to the 0.5 fibo retracement on the daily chart. But we can expect usdcad to touch the 0.618 fibo retracement which also aligns with the chart. So, right now for an entry on usdcad we have to wait and check on 4H for the market to turn bearish and possibly take a short with take profit 1.30400.
Was waiting so long for cadjpy to retrace to the 0.5 or 0.618 fibo on the daily chart. Today the market has tested the 0.5 fibo and now we can look for a long. The market can also go and retrace to the 0.618 fibo. But Right now 4H is bearish so wait for 4H to change to bullish and buy cadjpy from here.
