spesfinancial

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Yesterday Gold completed a weak bearish candle below the support zone, and now it may become a resistance. Following yesterday's candle, it is very likely that Gold will keep dropping today. Wait for a consolidation and then look for short entries when price breaks yesterday's low around 1261.4. I can see that there may be a daily upwards trendline just below...

spesfinancial Updated 

On this GBPUSD weekly chart we can see that last two weekly candles combines a bearish engulfing pattern, especially at such a crucial position with horizontal resistance, trendline resistance, and Fib 38.2% retracement. As last week's candle completed quite weak, it is highly likely that we could find good short entries in coming days.

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Last Friday's strong bullish candle indicates a high probability on price's going up. Both the downside trendline and the resistance have been broken. In coming days, we will keep look for long entries on lower time frame if price could stay above the support zone (previous horizontal resistance).

spesfinancial Updated 

As can be seen from the chat, EURUSD has downwards broken support zone around 1.1320, and has retested it as a resistance on Friday. If it could keep staying below this resistance zone, it is highly likely that price will continue going down to test support zone around 1.1150. It leaves us more than 100 pips range to trade short. Swing traders may choose to put SL...

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Today we have a very strong candle which makes last two day's drop becoming a fake downside breakout. Tomorrow it is very like that price will keep rise to next resistance zone and even more. Wait a consolidation on 1 hour chart and look for long entry when European markets open. Same trading opportunity with EURUSD.

spesfinancial Updated 

The price of NZDUSD goes very strong after a jump-down opening on Monday, and it is completed near previous high. As can be seen on high time frame, there is no important resistance until 0.7165 zone. Therefore, if price breaks upwards, it is possible for us to find some good long entries on this pair. On Tuesday I will focus on the lower time frame patter when...

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After a reversing pattern on weekly chart, AUDUSD finally complete a strong candle above the horizontal resistance zone (the green zone), and now it may become support. For intraday trading, we now have good trading range for long bias. Therefore, I would like to focus on longing AUDUSD in the following weeks until it gives reversing signal. I will update this...

spesfinancial Updated 

USDCHF has confirmed short bias with a reversing candle pattern at the very important level with resistance of the trendline, fib 50% and horizontal level. It is time for us trend followers to start looking for short entries on lower time frame. Personally I think that price may break previous low at 0.9663 and go further downside. However, as there are still some...

spesfinancial Updated 

On week chart, the downside trendline has been broken and the horizontal support has been tested effectively afterwards. With today's strong candle, price may go to next resistance at 1305 very soon. However, I do not recommend to take long entry on higher time frame as the risk:reward ratio is not satisfied. I prefer to wait for retracement and look for entries...

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Price of EURJPY has been resisted at key resistance with horizontal resistance, trendline resistance, and fib 50%. Candles on 4 hour level have confirmed this resistance, and we could look for short opportunities on lower time frame after a consolidation.

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Week chart: Last week a strong bearish candle was completed below key support zone, and in the following week we would look for short if price could stay below this zone. Day chart: As can be seen, the price is now testing the resistance of previous horizontal support zone. I'd like to look for short opportunities if price could break last week's low, the first...

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AUDUSD had a lower low comparing the low of Sep 2015. It has tested its resistance after breakout happens this week, and we could see some fake breakout happened, short trend may continue. In the following days, it is possible to look for short signals when price breaks last weeks low zone.

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EURCAD has complete a strong candle above previous high on week chart, and now this zone may become a support. Today I'd like to look for long opportunity based on this support level. First target will be today's adr, but it may have more profit range as it is a breakout on week chart.

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Based on the trendline and horizontal resistance, look for an opportunity to enter short when price breaks yesterday's low with satisified consolidation and reasonable stop loss.

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On weekly chart we can see that a shoulder-head-shoulder bottom has completed and its neckline has been broken, as well as the downside trendline. It is very likely that price will continue going up and test horizontal resistance around 0.7760 in few weeks. It is a good opportunity for us to look for long setups on lower time frame if price could stands above...

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EUR goes very strong against USD on Thursday. Tomorrow's non farm payroll' plan will focus on the long opportunity on EURUSD. I will wait for a consolidation below the blue line zone and trade upside breakout if stop loss on lower time frame is reasonable when statistic releases. First target is today's adr and resistance around 1.0950, but if the statistic is...

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GBPNZD has now held above some horizontal supports, so I'd like to keep long bias today. If price could test horizontal zone around yesterday's high, I will wait for a consolidation on lower time frame to enter upside breakout. Beware of the possible resistance from the day downside trendline and try to protect the position when price reaches there. Target will be...

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Week chart: Price has broken horizontal support and made a new low on week chart. In this week, it is possible to test the support of previous high in March 2012. Day chart: It can be seen a weak candle broke horizontal support on Friday. If price could stay below that level, it is possible to continue to go down and test next support. It would be better if...