BTC bulls are wanting to chase new highs reflected by a parabolic price increase. Whether momentum can keep up with price is to be seen. Institutional money will need to enter new long positions instead of taking profits for the increase to be sustainable. BTC has had a strong tendency to retrace and retest previous support before and after breaking previous...
USDCAD has been in a strong bull run for the last week with price increasing at an increasing rate leading to a parabolic extension. I may be time to revisit the Mean. Wait for confirmation of fan trend line breaks before entering, as the bull run could continue basis the upcoming news.
EURUSD price has been in a recent downtrend and but is displaying a series of momentum divergences. Ascending Triangle patterns are often bullish reversal patterns but it is important to wait for confirmation of a break to avoid entering too early.
PEPECOIN has seen a recent increase in volume after a retracement and is exhibiting a Dragonfly Doji with a long wick hinting a rejection of bear driven shorting. There are signs of a divergence between the price and momentum appearing on the 4hr timeframe. There are well defined Support/Resistance levels which may encounter some directionless volatility around...
PEPE coin is exhibiting a return of momentum after a retracement from its previous pivot high. Price action is taking the form of a rising pennant or channel. Observe the boundary tests as well as the volume on each retest before taking a direction.
PEPE coin broke out of a Triangle pattern and appeared to decouple itself from the major coins based on its internal macro fundamentals. There appears to be retesting of previous support and buying zones, as well as a confluence of the longer-term technical indicators levels. Regardless of whether the retracement was a result of profit-taking, internal structural...
NZDCAD continues its bullish run and is entering into the Parabolic trend zone. There have been signs of bearish momentum divergences on the indicators which has led people into shorting prematurely and being caught in a bear trap. Many short traders are watching in anticipation of a violent move to compensate for the continued fake-outs. It's proximity to the...
AUDCAD has made a test of the previous pivot high and has had a rejection with a single Gravestone Doji candle painted. It may make another attempt which would indicate returned bullish enthusiasm. Failure of support of the trend fan-lines could indicate the start of a bearish retracement.
GBPCAD is testing support after breaking through the trend fan-lines after a period of prolonged strength. The recent bearish move could signify the commencement of a longer-term trend reversal.
NZDUSD has been showing strong momentum recently with signs that price increase has outpaced momentum. Watch for breaks of the trend fan-lines for confirmation before entering short.
EURNZD is in a downward channel but is showing signs of consolidation and underlying bullish momentum. The NZD is appearing slightly overbought relative to the USD so prepare for the possibility of a bullish retracement if it breaks through resistance.
EURCHF has had a recent runup and has made a large excursion from the major Moving Averages. The tendency is to retest them after a prolonged deviation away. The recent needle top indicates some exhaustion by the bulls but wait for a confirmation of trend line breaks before going short.
XAUUSD is continually wanting to test new historical highs but will likely want to confirm the presence of support before the subsequent retest. Wait for confirmation of a break from the rising channel before entering short, as the confluence of multiple macro events combined with this historical high could see a large blow-off spike upwards prior to any retracement.
GBP has had a recent parabolic bullish move against the CAD prior to the upcoming fundamental news release. Watch for breaks in the bullish trend fan-lines as expectations converge with reality.
BTC has been falling through multiple support levels and has been showing multiple false bullish breaks. Whilst price can fall without an increase in volume, it requires volume to rise. There are recent signs of increased volume activity.
BTC has moved north out of the recent consolidation area after a series of bullish reversal patterns during September. BTC's tendency to test support after a move combined with a possible increase in the volume of Stop-Loss resting orders being placed by new Long entrants, could generate some aggressive bearish moves if support fails.
AUD has had a strong run-up against the CAD and appears to be pausing with consolidation taking the pattern of a rising Bearish Pennant as well as a divergence between price and Momentum. This pause could precede a breakout to retest previous resistance/support levels and previous pivot highs/lows which are in close proximity, so high non-directional volatility...
NZD has been strongly dominating EUR in the previous weeks and is showing signs of testing resistance levels prior to the news releases. It will likely want to retest the previous resistance as support which, if it holds, could lead to a longer term bullish run