GeorgeZii

GeorgeZii Updated  Nov 5, 2020

Short term outlook of the Australian market: AUD is pushed to the upside after fundamental drivers that gave confidence to buyers Q: Should I buy AUD now? A: Not right now. Wait for correction, and then after choosing a pair that is mainly driven by AUD at that time, start loading longs. Q: Why would AUD continue rallying high? A: The catalyst of that bullish...

GeorgeZii Updated  Nov 2, 2020

Since the outbreak of corona virus, all markets saw extreme volatility that created unforeseen patterns amd unpredictable movements. However, that's not the case with Euro/Swiss Franc. In March, price started creating cyclic move to the upside, slowly and steadily. Since then, we notice that the main price pattern is as follows: Correction Pattern - Impulse -...

GeorgeZii Updated  Oct 29, 2020

Price is on a 7-day long bullish rally with huge bullish daily candles flooding the markets. However something is cooked on the background. NZD has reached overbought levels since EURNZD and NZDUSD reached crucial zones where bulls started pushing NZD to the highs (EURNZD lows). CAD is being prepared for the next week's volatility burst due to US elections....

GeorgeZii Updated  Oct 22, 2020

Price is moving in a clean path without much unnecessary noise. However in the start of the ongoing week EUR started a big rally, which was backed by fundamental factors, and made EURJPY step away from its path. This ended in a fakeout of the bearish flag that the price was respecting a lot. JPY Investors didn't really let this situation continue and in...

GeorgeZii Updated  Oct 22, 2020

EURCAD is mostly driven by CAD swings in strength, which has as a result to help price move in clean moves without much choppiness. Since July we notice that price is in a global downtrend has is caused by CAD empowering. This continuous CAD force is believed to keep affecting this market like now. Sellers are coming after buyers. Buyers are coming after...

GeorgeZii Updated  Oct 21, 2020

A lot of things going on right now. Buyers and sellers more stressed than ever. Bullish Dollar or Bearish Dollar? Stimulus or not? To be or not to be is the next question. USDJPY a clear path though. JPY seems to win the fight between the safe-havens as it usually does in volatile times. Buyers seemed to have faith in a bullish Dollar and this was apparent till...

GeorgeZii Updated  Oct 21, 2020

Our second favorite metal, Silver, seems to have broken a very crucial support in the end of September along with Gold. The classic waterfall effect followed up as we all saw... Since the beginning of October Silver is moving in an ascending channel but I would really like to consider this channel as a bear flag that indicates more move to the downside. I...

GeorgeZii Oct 21, 2020

Everyone knows about the GBP volatility burst since UK PM announced that he wants a Brexit deal. Pound seemed to fall like crazy till things got better in October. The British currency found some trust from investors who aren't confident about a GBP plummet yet, and started buying it. However sellers - that already won the positional rivalry - show their...

GeorgeZii Updated  Oct 21, 2020

NZD as a currency is being extremely bearish and the sentiment is nowhere near change, meaning that the Kiwi won't find significant buying support soon, provided that current economic environment will stay as it is. Fundamentally speaking, USD could probably rise as recent stimulus talks seem to be in vain. On the technical side, Kiwi violated the big bear...

GeorgeZii Updated  Oct 20, 2020

Yesterday I posted an idea about EURNZD being about to breakout a Head and Shoulders pattern and now the price has reached the top of an ascending channel that could be a future bear flag but for now we look at it as an ascending channel. I expect price to fall from the top of channel to the nearest support, which is about 200 pips move to the bearish side.

GeorgeZii Updated  Oct 20, 2020

Beautiful H&S setup is forming on Euro/NZ Dollar. I wouldn't recommend opening any trades on Friday, so the setup is for next week. Shoulders are perfectly aligned, head is clearly shaped. Nothing else to doubt about. This setup has a very nice R:R potential so you can adjust your TP according to your trading plan. Preferred SL should be below the right...

GeorgeZii Updated  Oct 16, 2020

NZDUSD got 24% more expensive since the Covid-19 bottom. All that way, the pair seemed to flirt with a very interesting dynamic S/R level. So now, after the recent USD buying appetite from investors, NU wants to break out of this trendline again. My first target is a high confluence area around 0.6500 where we have i) Big figure 0.65 ii) Fundamental Fib...

GeorgeZii Updated  Oct 16, 2020

First things first, retail sentiment for Pound is bearish amid Brexit deadline on 15 Oct., so that's what we start with before we hop in the analysis. EURGBP bottomed at mid 0.88 in the beginning of September and started going up aggressively when UK PM announce the Brexit limit. The bullish run ended at near 0.93 and corrected till the 61.8% following a flag...

GeorgeZii Updated  Oct 16, 2020

FOMO (= fear of missing out) is a common reason why most new unexperienced traders can't get the most out of a correct forecast. It's so easy to check a HTF chart and say "Price will go down" and think you're a genius. However when you get in a trade you'll realize that, yeah, price goes in favour of your bias but you're not the trade anymore, because you most...

GeorgeZii Updated  Oct 16, 2020

I wanna share this ambitious idea with the community, so I will try to explain in short terms what my reasons for this setup are. 1) We have a very nice harmonic setup forming up so our trade idea will only be valid and executed if the pattern is completed. 2) Long term trendline coming up 3) 61.80% of the bullish leg is a possible rejection level for the...

GeorgeZii Oct 16, 2020

Big bearish flag has started to form since the beginning of October so the trading plan is pretty much common to most of traders. Technically we see that flag is about to break soon as we saw that it nearly kissed 61.80 of the bearish leg. What we need to see now is a simple thing; break and retest. R:R potential is very high depending on how much someone...

GeorgeZii Updated  Oct 16, 2020

Recently, we saw price breaking through the big figure 70.00 and now it's consolidating the gains below that level. Once momentum is gathered we will see a bearish leg which will complete a medium-term cycle of the pair. Where to sell? We notice that price is shaping a harmonic bearish move which could possibly be a reliable sell signal for us. Stop loss would...

GeorgeZii Updated  Oct 12, 2020

Price has reached a long-term trendline and right now it is consolidating below it in a bullish flag pattern. This means that we might see a bullish run for the Aussie, unless major US news positive for the Dollar make the price melt. That's a conservative trading setup as it's against my weekly bias for the USD, but we trade what we see so... here you are! Good luck!