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EurNzd could rise back above 1.7 figureConsidering the double bottom from March and April 2022, EurNzd reversed its trend and started to trade in an up channel. The pair made a high at the 1.75 zone in November and started to fall back to support. From this support, the pair started to rise again and late December found the pair consolidating and slightly correcting this new leg up. Yesterday's Pin Bac could be an indication that a new leg up will follow and a break back above 1.7 is probable. Medium-term traders could have 1.75 as their target for buy trades and negation comes under yesterday's low
Long
by Mihai_Iacob
7
GbpCad could drop from resistance (1k pips potential)Since the bottom just above 1.4 in September, GbpCad has risen strongly, gaining around 2.8k pips. At this moment, however, the pair is facing a very strong resistance zone, a zone that acted as support for more than 3 years till the break under it in this year's spring. I expect this zone to hold and cap gains for the pair in the future and if this holds true, GbpCad could roll back down to under 1.6 support. Last week's candle is a reversal one and traders could look for selling opportunities against its high. As I said, the target could be set at 1.58 support and a good sell entry can have a 1k pips reward
Short
by Mihai_Iacob
2
Lingrid | EURUSD POSSIBLE short from RESISTANCEThe price perfectly fulfills my last idea. The market went up and reached resistance zone after impulse move. Price is in ascending channel and it is losing momentum at strong resistance zone. The price show a divergence on oscillators. I think it might pullback from the resistance and test previous support level . My goal is support at 1.05802. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Short
by Lingrid
11
NZDCAD > How to Use FIB for Classic Trendline Entry!!Analysis of #NZDCAD Hi traders, today we will have a look at #NZDCAD The NZDCAD has a similar setup to my AUDCAD idea as you see we have a perfectly clear uptrend, and clearly defined trendline support. the market has previously a strong resistance level which the market broke and move to the upside, the market now is expected to continue up, and we can look for trend continuation patterns such as channels or triangles, wedges or flags, the market, in fact, might e forming a channel pattern now, but you need to be careful that it's not a double-top pattern, for that wait for confirmation first. if however, the market dropped to test its trendline support, and previous structure support zone, which is also FIB golden ratio 0.618, which is perfect for me, to start looking for a buy. I hope you guys found this helpful, if you are new here click on follow, to get these ideas delivered straight to your email inbox, I will see you guys at the next one Thanks for your continued support!
Long
by TheTradersAvenue
21
AUDUSD > Interesting Buy Entry for A Good RRR!! Analysis of #AUDUSD Hi traders, today we will have a look at #AUDUSD The AUDUSD previously had this reversal pattern which looks like a bullish head and shoulders to me, as you can see the market broke the neckline resistance and now might be coming to visit the zone again as you know this area now will act as a support level for AUDUSD and could be a very good zone to start looking for a buy entry depending on how the market will get there I hope you guys found this helpful, if you are new here click on follow, to get these ideas delivered straight to your email inbox, I will see you guys at the next one Thanks for your continued support!
Long
by TheTradersAvenue
26
EurUsd has carved a very nice topAs I said multiple times in the past 2 weeks, 1.0350 is strong resistance for EurUsd and I expect a drop from this zone. Although the pair had a spike above this zone and reached 1.0475(which is marked by a strong Pin Bar), the overall idea was the same: resumption of the downtrend. Last week we have distribution in this zone and now the pair looks ready for a drop. My target for this drop remains under 1.01 and as long as last week's high is intact sell rallies is my strategy
Short
by Mihai_Iacob
12
GBPUSD > The Perfect Setup for A Buy Entry!!Analysis of #GBPUSD Hi traders, today we will have a look at #GBPUSD the GBPUSD is in this beautiful wedge pattern as you can see on my chart, the market tested its trendline resistance and now started a move down, if you check y previous ideas on the GBPUSD where I explain why I expect the pound to move lower. now, there is a very good support zone that coincides with trendline support near the 1.165-1.1600 key market level. if the market drops to my key market support level I will drop a one-time frame looking for a bullish reaction to get in a buy trade with good reward to risk if the rules are met. I hope you guys found this helpful, if you are new here click on follow, to get these ideas delivered straight to your email inbox, I will see you guys at the next one Thanks for your continued support!
Long
by TheTradersAvenue
22
EurAud- New leg up after flag's break? (Good R:R trade)After the low at the 1.43 zone, EurAud broke above falling trend line resistance in September and at the beginning of October also broke above 1.52 horizontal resistance confirming a double bottom in place. In mid-October, the pair reached a local high and started to correct. The drop from this high is contained in a flag pattern and the low of it coincides with a retest of the broken horizontal level. At this moment the odds are favoring bulls and a new leg up could follow after the flag's break. The target for such a move could be the next important horizontal resistance above 1.6.
Long
by Mihai_Iacob
10
USDCAD > The Best 2 Places for High Quality SellAnalysis of #USDCAD Hi traders, today we will have a look at #USDCAD the USDCAD trend has shifted to the downside, if you remember I posted head and shoulders last time on USDCAD, and indeed it moved as I predicted it to move, now I still see a further move to the downside, and I have confirmation that the trend now is to the downside. now, the question is where to sell? the first place to look for a sell entry would be of course previous support now became resistance, which is the previous low if we have valid confirmation we can then move to enter a sell trade. the second level to sell would be the previous lower high, as you can see we had a very good bearish reaction at that level and traders sold the market, so if the market comes and pull back to test its resistance zone I will also be looking for sell entry. I hope you guys found this helpful, if you are new here click on follow, to get these ideas delivered straight to your email inbox, I will see you guys at the next one Thanks for your continued support!
Short
by TheTradersAvenue
30
EurNzd could drop to supportAfter the break above the horizontal resistance level from 1.7150, EurNzd has traded in a range between this zone and a high of around 1.75 for one month. The pair couldn't continue its ascent and fell back down under support proving the up break as a false one. After the recent low, a correction to the up side followed and the final of this correction is in the old resistance and is marked by two reversal candles, Friday's one being a pin bar. I expect a new leg down from this pair and I'm looking to sell rallies. The target can be set around 1.64 support and only a daily close above 1.7150 would negate this bearish scenario
Short
by Mihai_Iacob
5
GbpUsd is facing strong resistanceAs I said in my previous analysis, there is a very high chance that 1.03 is the bottom for GbpUsd, and as long as 1.1 holds, 1.1750 is in focus. Yesterday this zone was touched and we can see from the posted chart that 1.1750-1.18 is an extremely important resistance. Even if 1.03 is the bottom, I don't think that GbpUsd will start an up trend in the near future and rage trading is a probable scenario for this pair. Rallies above 1.1750 could be sold and 1.12 could be the target.
Short
by Mihai_Iacob
5