Insight

Insight

I predict that a long trade would be most suitable in the next two days because of the formation of an ascending triangle pattern. This ascending triangle holds a resistance level at 124.560 which has only been tested a few times. As the resistance level does not hold such a high significance, it is more possible for the break-out of this pattern to result in an...

Insight

I predict GBPUSD to reverse in direction into a downtrend. This is suggested by the trend line which goes through the swing highs, and the strong resistance level at 1.5688. This resistance level was clearly tested in the morning of 17th August which, overall, gives it a much higher significance in the market's direction. The Relative Strength Index indicates...

Insight

I predict that the price will reverse its direction at the 0.618 Fibonacci retracement level. The trend line acts as a pivot point for trend reversal. Therefore, my prediction is further suggested by the fact that the price just recently tested this trend line. The DMI also shows an expansion which suggests that a new trend might form. Furthermore, the Relative...

Insight

I predict that USDJPY will continue to rise until reaching the upper trend line. Thereafter, I think there will be a reversal in direction at which point the price could once again bounce off of the other trend line. The two trend lines were both tested multiple times since 12th August which gives them a much higher significance in the market's direction....

Insight

The descending channel from 5th August acts as a pivot point for trend reversal as suggested by the numerous times price was tested and changed direction. Therefore, I predict that price will fall since it has touched the trend line of the channel. This resistance level is further implied by the fact that 1.31481 is the 0.236 Fibonacci retracement level, so price...

Insight

I predict that going short would be the best option for the next few days. Price has reached the resistance level at 1.1111 and the candlestick pattern at H4 suggests that the price will fall. Moreover, the ascending channel, which was tested multiple times since the end of July, might act as a pivot point for trend reversal if the price does reach 1.0888. The...

Insight

The support trend line since early May has acted as a pivot point for trend reversals. The price seems to have just recently bounced off the resistance level at the 0.382 retracement level, and the strong resistance level at 1.5688 which has been tested multiple times by the market. Therefore, I predict that the price will continue to fall until reaching the...

Insight

The resistance trend line that goes through the recent swing highs since early July predicts that the price may reverse its direction at 1.1069. This is further supported by the fact that 1.106 also acts as the 0.618 Fibonacci retracement level. If the price does reverse its direction, I predict that it would bounce off the support level at 1.10833, and continue...

Insight

I predict GBPUSD to continue to rise until it reaches the strong resistance level at 1.5647. This upper Fibonacci retracement level acts as a strong resistance, and it is predicted to hold. The resistance was tested at least six times since midway through July, which gives it a much higher significance. However, the DMI indicates that it is possible for -DMI to...

Insight

I predict the GBPUSD to range for at least a week this May. The 0.382 Fibonacci retracement level would hold as a resistance, whereas the 0.618 Fib retracement level would hold as a support to the ranging price; this gives us a 1.32% (0.01970) price range. This prediction leads us to believe that going short would be the best option for today. As seen on this...

Insight

The EUR would weaken this week, but will bounce at the support level on the 0.382 (1.09832) Fibonacci Retracement level. The price would then range during May with a strong resistance level at 1.11944. This ranging price during May/June is supported by the Downtrend - Uptrend - Range pattern seen since January. In February, the price ranged at 2.31%. In...