


FX618Analysis
The weekly long term trendline on this pair has been broken and a potential long opportunity is setting up. I am currently waiting for the channel that is forming on the 4 hour chart to break and retest the 50 EMA on 4 hr chart. Stay tuned for any updates! However i will only take this trade when i exit my other active USD position. I do not want to risk my...
Adequate harmonic bearish cypher has been formed!. I expect this pair to retrace slightly and head back up. You can refer to the attached link for further analysis. I personally would not trade this pattern, because for me it is one of the confluence factor for my main trend analysis. If you wish to trade you can do so at your own risk. TP target are set at 38.2...
The Monthly chart image below shows the major resistance and support levels to look out for this pair.Currently the price is stuck between 126 and 131 levels and its looking to retest either of those levels again the coming days Looking at the Monthly charts again it can be observed that the price is confined in the long term triangle. Currently the price is...
Just like its parents pair (GBPUSD), The pound is just consolidating at the moment and a potential break to the upside is on the cards!. What is preventing the breakout at the moment is that the price is confined in wedge. To add to the list of confluence factors a flag has also been formed and the violation of the upper trend line would see a GBP push to the...
RSI Divergence is something that can NOT be spotted easily and they can be a strong potential warning sign of the possible reversal that might be coming!. Its importance is directly proportional with increasing time frame. Looking at the above text book classic scenario for the DOLLAR INDEX or DXY, the price has been diverging from the 14 day RSI. The EMA 50 is...
Looking at the above Monthly charts, 4 consecutive DOJI candles have formed at a crucial support of 82.000 psychological level. It represents serious indecison among the BULLS AND BEARS fighting to take control of the situation. On the weekly chart venturing deep, it can be seen that the price has been confined in a long term triangle that has been held on many...
Patience is everything in trading!. Successful traders always look at a bigger picture and rely on higher timeframe to get the required edge. Lower time frame like minutes to even hours and sometimes days dont tell you a bigger picture of what is coming. Yes you maybe successful for now but you might not be for a long time if you analyze your charts on shorter...
At One time OIL was crashing and burning like a Meteoroid and This past number of months it has been recovering quite well it would suggest. However in the path of OIL recovery there lies a strong resistance of 74, which not only happens to be a crucial support but also a 61.8 golden ratio retracement of the pervious Monthly swing high. Refer to the image below...
Observing the monthly charts closely (The image below) 4 crucial support and resistance levels can be identified and at the moment the price is rangebound between 0.90300 and 0.86600 Levels. Looking Deeper into the Weekly chart (The image below), The price is rangebound and seems to be to respecting the 0.89400 well. This overall suggests that the price might...
Alright. Trade executed. For detailed analysis please refer to the link below. Price has retested the 38.2 of previous swing. The RR is 1:2.2. I might trail my stop loss in the future if it happens. Stay tuned for updates under this thread and the main one
The Bullishness of the USD is likely to return to full strength provided if the FED keeps on track to raise the rates another two times before the year ends. NZDUSD has been taking a beating recently and for now looking at the Monthly chart, depends on where the candle closes either above or below the crucial resistance at 0.68400. If candle closes as a Doji which...
Price is looking to breakout of the Daily wedge formation. Looking at the image below (weekly charts) the price is also confined in the wedge and is looking to test the lower trendline soon after rejecting the upper trendline. On the Monthly timeframe a strong resistance of 1.2800 has been broken and now acting as potential support. There have been around 3...
A good Opportunity to go short. USDCHF is struggling to break the monthly resistance at 0.9950 with multiple high test candles showing the confluence of reversal. On a daily timeframe the trendline has been violated and the price might target the next support thats in sight at 0.98200. On the four hour charts, the EMA50 was broken and retested with a high test...
For Decades now the yellow metal has been precious and the long term trend also indicates that its an uptrend. Looking at the monthly charts there is a clear ascending trendline which has been tested and held for more than 5 occasions. This is a very strong indication that the dynamic trend line is acting as a crucial support. Looking closely at the weekly...
FX:USDJPY USDJPY Pair potential fakeout on the monthly timeframe is developing. check the image below A likely scenario would be a potential breakout of the rising wedge to the downside if the daily candle closes and breaks below the trendline. A Break and retest of the 50 EMA should also occur. Fundamentals for the JPY long is not in our favour at the...
You can say that AUDUSD has been taking a beating not only from the USD but also the GOLD market and How the Chinese economy is performing due to the issues with the U.S. Odds are in favour of another drop in AUDUSD both technically and fundamentally . Sentimentally its also looking good to go short on this pair. Looking at the daily chart AUDUSD is looking to...
Please Refer to my earlier analysis of the GBPUSD. This Bullish cypher is an extra Confluence factor contributing to the potential upside breakout of GBPUSD This is not a trade signal but just an analysis presented for some of you see. A potential trade alert will be placed under the original post (Link above)
On weekly timeframe GBPUSD had broken the ascending channel very long ago that resulted through the brexit vote. A bounce off the potential golden ratio of 61.8 is likely a scenario that might happen. see the image below Considering the above, On the daily charts a nice descending channel has been in play for a while now since the pound sell off began. A...