Today's focus: EURJPY Pattern – Resistance Test Support – 157.65 - 155.81 Resistance – 158.55 - 159.71 Hi, and thanks for checking out today's update. Today, we are looking at the EURJPY on the daily chart. Since testing lower support, we have seen a solid bounce that has already had one reaction and a new higher high. This sets buyers up with just a few more...
GBP this morning got good data better than forecast better than prior. JPY continues with poor monetary policy. Yesterday we had JPY intervention but this didn't change the overall trend. GBPJPY buys.
Traders, brace yourselves for an intriguing setup on the 1-hour timeframe for GBP/USD that you can't afford to miss: 📌 Technical Analysis Highlights 📌 🔽 Descending Triangle Breakout: The recent price action has delivered a convincing breakout from a descending triangle pattern, laying the foundation for a trend continuation setup. 📈 Moving Average Resistance: To...
In the world of precious metals, gold is facing a delicate balancing act. Recent economic data from the United States has added a layer of complexity to the gold market. The ISM Manufacturing PMI for August surprised many by exceeding expectations, while the U.S. jobless rate edged up to 3.8% while the NFP data slightly surpassed predictions. Wage growth, though...
We've got an enticing EUR/USD setup on the 1-hour timeframe that deserves your attention. Here's the lowdown: 📌 Technical Analysis Highlights 📌 📉 Bearish Breakout: After a period of range-bound trading (or a bearish flag, depending on your perspective), the price has decisively broken below a key support level, which has now flipped into a formidable resistance....
Delving into the intricacies of USDJPY on the 4H TF Take a step back and witness the grand narrative of the chart—an unwavering uptrend punctuated by calculated retracements. Recently, a significant consolidation occurred at the pivotal 145.000 level, a strategic move accompanied by the emergence of a promising bull flag pattern. This pattern speaks volumes,...
Let's debunk some headlines like "The Dollar is Bearish!" and dig into the real chart dynamics. On the weekly chart, a bullish trend is evident, despite a retracement that might seem bearish. Always consider the bigger picture. The recent retracement is a mere blip compared to the overall uptrend. 🔍 Key Levels to Watch 🔍 Zoom out and observe the retest happening...
Exciting times are ahead for the Pound Sterling as it makes a strong recovery during the second half of the previous week, soaring near 1.27800! The market sentiment is on the rise, and the Bank of England (BoE) is signaling a hawkish stance on interest rates, giving the GBPUSD pair even more room to climb higher. The recent interest rate decision saw a 25 basis...
The bullish setup on EUR/USD is gaining momentum as price consolidates within a massive bullish pennant formation over the past three weeks. With the breakout now confirmed, a strong upward impulse is expected to continue the prevailing trend. This presents an optimal entry opportunity to go long on the pair. Traders can set their sights on multiple take profit...
📈 My bias is strongly inclined towards buying GBPUSD. Currently, I'm eagerly anticipating the formation of an Ascending Triangle trading setup. 🔍 There are two possible scenarios to consider: 1️⃣ Waiting for a retest back to the trendline for a prime buying opportunity. 2️⃣ Observing a violation of the red line at 1.2853, followed by a retest, before entering a...
Hey guys, How are you doing? I hope the market is treating you well and the hype is on the verge to explode like it always did in the previous pre-bull run scenarios. In today's insight I just want to remind you that a hidden bullish divergence is on the build up on the 4H time frame which can be considered as one more confluence and validation for the...
after a very strong uptrend price has been pulling back in an downward channel. a break and close above resistance would likely see the trend continue upward.
I'm much more comfortable trading the Forex Pair then Oil, where comes the Bullish Shark retest on the GBPUSD on the 8-range bar for a buying opportunity. I might even keep my second target open, as I'd the bullish bias on the GBPUSD. What's your thoughts on GBPUSD?
I don't see how the USDJPY movement will turn bearish this week. I will focus on the buying opportunity at the support at 143.20 or a trendline retest. Both would require a Magic Candle Confirmation before engaging in the trade. If you are waiting for a counter-trend trade, the Bearish Bat Pattern on the daily chart(right) 149.12 seems like a better trading setup...
This is how I've identified the GBPUSD is going higher than most traders. If you look at the weekly chart, you would have spotted that the candle broke and close above the previous high; that gives me a sign even before it broke the current structure, and I've been saying that for over a month now. I'm focused on getting the buying on the buying...
We witnessed the formation of a flag pattern, which is a fantastic opportunity for trend continuation trades. This pattern indicates a temporary pause or retracement within an ongoing uptrend, followed by a potential breakout to the upside. As price consolidates within the flag, we anticipate a bullish surge to continue the upward momentum. Delving into the...
Attention, traders! We have an enticing bearish setup in the Gold market on the daily timeframe. The key to this setup lies in the formation of the double top pattern, where price establishes two prominent peaks at approximately the same level. This pattern serves as a robust bearish reversal signal, indicating a potential downtrend ahead. As price stagnated below...
Today we're taking a look at yet another breakout/trend continuation opportunity. As always we'll discuss why I like the level & where I think we'll ultimately head to. But I also wanted to show you how using alerts can help cut down the amount of time you have to spend on a chart & really allow you to streamline your trading day without it taking up too much...