DOLLAR INDEX (DXY) Key Zones to Watch 💵
After setting a new higher high higher close 10 days ago, Dollar Index is retracing.
Here are the key zones to watch from where we may see a trend-following move:
Support 1 - 2 is based on a confluence zone between a major rising trend line and 105.1 - 105.8 demand zone.
Support 3 is based on 102.5 - 103.8 demand zone.
Once one of these zones is reached, look for a confirmation on long time frames to confirm a coming bullish impulse.
I will post an update one I spot a decent confirmation.
Alternatively, bearish breakout of these zone will trigger selling waves.
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Swingsetup
CAD_CHF in H4: Watchlist LongCAD_CHF in H4: Watchlist Long
> Phase 1 of H/L Setup completed: Trendreversal
> Next stage: Phase 2, first bullish wave
> Established a higher low/ higher high sequence
> Break of bearish trendline needed
> Break of Structure would be completed after
> POC below current price levels
SILVER (XAGUSD) Key Level Ahead! Your Plan: 🪙
Even though Silver is very bearish, ahead is a strong confluence zone on a weekly.
The underlined yellow area is based on 618 retracement of a major impulse leg and a horizontal demand area.
To catch a bullish move from that, watch a falling parallel channel on 4H.
Your confirmation to buy will be its bullish breakout (at least 4H candle close above).
Then buy aggressively or on a retest.
Your target will be 20.16
If the price breaks the underlined area to the downside, the setup will be invalid.
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SPX500 with a potential fakerally!Hey tradomanics,
looks like last bullish move after the fed-protocoll (Seriously... so bearish )... looks very suspicious especially in the market-depth showing absoprtion in form of a lot of iceberg-orders at the resistance.
I will give it a shot and go short from here on.
What do you think?
GBPCAD: Bearish Continuation 🇬🇧🇨🇦
GBPCAD has nicely respected a resistance line of a falling parallel channel.
The price formed a double top on that and broke its neckline to the downside.
I expect a further bearish continuation now.
Next support - 1.555
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USD/CHF: Major structural break | Short Potential✅ USD/CHF broke a major support zone . We are also trying to break the weekly low. POC prints above current levels, indicating heavy wall street banks selling. We need a clear 3pm (Berlin time) H4 close to enter a short trade.
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EUR/AUD: Short Setup in the makingEUR/AUD: Short Setup in the making
> EUR/AUD shows a structureal break: lower high with lower low after upward move
> short-term trendchannel is broken as well
> POC printed above current price levels, wich indicates heavy bank selling
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MarketBreakdown | EURJPY, EURCHF, GBPCAD, GBPCHF
Hey traders,
here is a brief technical outlook of 4 peculiar instruments on my watch list.
1️⃣ EURJPY - Daily time frame 🇪🇺 🇯🇵
I see the signs of a bullish accumulation:
the price has already set two equal highs and keeps setting higher lows.
I believe that we will see a breakout attempt of a current horizontal resistance.
Daily candle close above that will trigger a bullish trend continuation to new highs.
2️⃣ EURCHF - 3 days time frame 🇪🇺🇨🇭
The pair is approaching a solid horizontal zone of demand.
Be prepared for a breakout attempt.
Its bearish breakout will trigger a bearish continuation to a year's low.
3️⃣ GBPCAD - Daily time frame 🇬🇧🇨🇦
As I predicted, GBPCAD dropped nicely.
The pair formed a double top formation with a lower high.
Its neckline violation signifies a highly probable further decline.
4️⃣ GBPCHF - Monthly time frame 🇬🇧🇨🇭
The pair is currently approaching a wide weekly demand cluster.
Taking into consideration that the market is very oversold, I believe that we will see a pullback from that structure soon.
Look for a confirmation on lower time frames to buy.
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WSI Watchlist - NZD/USD: Long after breakoutNZD/USD: Long after breakout
> Structure: Symmetrical triangle
> Lower highs and lower lows
> we need a break of the last lower high on a H4 basis to create a strong long bias
> POC below current levels
Wait for a clear close of a H4 candle above the last lower high.
Meikel & Team WSI
AUD/NZD: High-Vol Trendchannel breakAUD/NZD: High-Vol Trendchannel break
> month-long trendchannel broken to the downside
> Double top formation with first lower high inside of broken channel
> POC above current PX
> countertrend broken
> weekly high 2x rejected
> daily lows about to break
> little volume on way to tp
EURUSD: 2 Structure to Watch Next Week 🇪🇺🇺🇸
Hey traders,
Even though this week was quite bullish for EURUSD,
remember that the market is trading in a bearish trend and we remain bearish biased.
Next week, I will be looking for shorting opportunities from 2 very important areas:
Resistance 1: 1.062 - 1.0655
Resistance 2: 1.074 - 1.079
I will expect a bearish move from one of these zones.
Let the price reach them and then look for a confirmation to sell.
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EUR/AUD: Watchlist Long Trade for next weekEUR/AUD: Watchlist Long Trade for next week
> High Volume POC below current levels
> 3 touch inner upward trend
> inverse Shoulder-Head-Shoulder
> Need a break of the last falling high + 2 touch inner downward trend break
We are looking for a break of structure + change in sequence. This will be achieved once the last lower high is broken to the upside.
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DAX Index: Be Prepared For a Breakout Trade
What a bearish rally on Dax Index:
for the 4 consecutive days, the market is falling sharply.
Ahead is key horizontal support.
I will be waiting for its bearish breakout to short the index.
Next support will be 12550.
Remember that you need a daily candle close below a blue support to confirm a breakout.
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EURCAD: Important Decision Ahead! Your Plan: 🇪🇺🇨🇦
EURCAD is trading in a long-term bearish trend.
The pair started to consolidate within a horizontal trading range on a daily from the beginning of April.
Now the price is approaching its support.
From a current perspective, I see two potential scenarios:
If the price breaks and closes below the support of the range on a daily,
then a bearish trend continuation will be expected to 1.325
The price may respect the underlined structure.
To catch a pullback from that, watch a falling trend line on a 4H time frame.
If the price breaks that to the upside, I will expect a bullish move at least to 1.35
Wait for a breakout and then follow the market.
What do you expect?
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