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AUDCHF is currently forming a triangle. Price is coming very close to the point of the triangle, indicating a breakout in either direction may soon occur. Traders should ideally wait for a breakout and retest of the triangle in either direction before opening a position. Ensure that you use proper risk management. Based on the previous weeks movement, it is more...

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SHORT IDEA: GBPJPY is forming a bearish flag on a daily timeframe after a very strong bearish impulse. This could mean we could see further downside on this pair. However, traders looking to go short should be cautious and take note of the support zone at 132.000; an impulsive break below this zone would be ideal to go short as it would coincide with continuing...

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This is an update on my last analysis on CHFJPY. It took a bit of a while, but CHFJPY eventually made its way upwards. Those who took the trade can keep trailing their stop until we reach our target as the resistance zone. Those who have not entered earlier can look for entries along the supportive trendline with a target at the resistance zone. However, this is...

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EURJPY is forming a possible falling wedge (reversal pattern) and is also currently on a strong supportive trendline, presenting a good opportunity to look for a long position. The safest way to approach this trade would be to wait for a break and retest of the counter-trendline (the top of the falling wedge) due to the euro's recent weakness. Traders are advised...

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In my last analysis, I plotted a support zone for GBPCHF. However, GBPCHF has broken the support zone with a strong impulsive movement. We can now look to short GBPCHF. Bears should wait for a retest of the broken support zone, which coincides with a resistive trendline. From here, bears can go short, with a stop loss above the previous support zone now turned...

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CADCHF has broken through a weekly support (yellow zone plotted on chart) and has perfectly retested the broken support. The previous support is now acting as resistance. On a daily timeframe, CADCHF is forming a bearish flag pattern (a continuation pattern), indicating that the pair may see further downside. Price is currently attempting to break the supportive...

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AUDUSD has broken through a supportive trendline and is now consolidating outside of it. We will be looking to go short once the local support zone breaks to the downside. Price currently looks as if it is forming a bearish rectangle, meaning we could go to the downside. Traders should keep this pair on their watchlist and only open a position if price gives a...

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AUDCAD is a resistance zone now, and is also following along a supportive trendline. A short term trade could be shorting the pair once a break of the supportive trendline occurs. The target would be the supply zone at 0.92850, with a stop loss a few pips above the resistance zone. However, traders should be aware that AUDCAD is forming a bullish rectangle (a...

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GBPCHF has been ranging between the resistance zone at 1.22000 and the support zone at 1.17500. Price is currently at the support zone and is showing signs of rejection at the support zone. Bulls can look to go long once a break and retest of the counter-trendline occurs. A more aggressive approach would be to enter a long position at current market price. A stop...

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In my last idea published, I spoke about looking to go long on EURUSD at the supportive trendline and yellow zone plotted on the chart. See my other post for a detailed breakdown of this setup. Price is now in this zone, presenting a possible inverse head and shoulders pattern and a bounce off of the supportive trendline. Ideally, traders should monitor price...

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EURUSD is presenting a nice opportunity to take a long position soon (patience pays). On a daily timeframe, we should wait for the right shoulder to form in the yellow zone marked on the chart, to give us an inverse head and shoulders pattern (see snapshot below). This zone lines up with a strong supportive trendline, giving more confirmation for a long position....

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After a strong bearish impulse, NZDJPY has been ranging between two trendlines and may now be ready to continue its bearish push. Ideally, traders should wait for a break and retest of the supportive trendline as price can easily respect the trendline and continue upwards to the resistive trendline. First targets can be placed on the trader's reward goals, and a...

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AUDCAD is currently at a local supply zone, presenting a good opportunity for a short term sell. A possible double top is forming on a 4 Hour timeframe, making the short opportunity more attractive. The stop loss can be placed a few pips above the local supply zone, with the first target at the local demand zone. This is a short term trade, as price is currently...

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CHFJPY is forming a falling wedge (continuation pattern). A break of the resistive trendline has occurred, AND a retest of the resistive trendline is currently happening, lining up perfectly with the 61.8 Fib level. Bulls can enter long positions now, targeting the strong, daily resistance zone as a first target. Be sure to follow me for more ideas and analyses....

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Medium to Long Term: EURAUD is currently trapped between two local demand and supply zones, making it a rather unattractive pair right now. However, EURAUD may simply be accumulating volume before a big move. The local demand zone may hold, sending price above the local supply zone and above the resistive trendline. A break and retest would be ideal for opening a...

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NZDCAD is now testing a resistance zone at 0.87800 which it has failed to break multiple times. Bears can look to short the pair now, with a stop loss a few pips above the resistance zone, targeting the local demand zone at 0.87100. Beyond that, targets may be placed further down if the local demand zone and supportive trendline fails to hold. There has been a...

sharaafatm Updated 

NZDCAD is forming a bullish pennant after a very strong bullish impulse over the last three weeks. The formation holds well on the 1H, 4H and D timeframes. We will wait for a break of the resistive trendline, then a retest before looking to go long. For a more aggressive setup, a buy stop can be placed above the resistive trendline. First target is 0.65750 with a...

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AUDUSD is currently on a supportive trendline. Price has failed to break through a strong resistance zone is and obeying a counter-trendline. The supportive trendline may hold, pushing price up. However, my bias is bearish based on the multiple rejections at the resistance zone and counter-trendline. Waiting for a break and retest of the supportive trendline to go...