📈EURNZD formed a double bottom pattern following a test of a crucial intraday support level. Breaking above the pattern's neckline is a significant bullish signal. Anticipated upward movement could reach the 1.8100 level.
This week, NZDCAD broke through and closed below an important horizontal support level. The broken support has now become a resistance level, which the market is currently retesting. I anticipate a bearish trend continuing towards the levels of 0.8117 and 0.8070.
GBPCAD created a bullish flag pattern on the 4-hour chart. After testing a strong intraday support cluster, the resistance was eventually breached. This could signal a potential bullish trend continuation. The targets to watch for are around 1.7220.
Gold is currently in a bullish trend and recently reached a new high before starting a correction. There is an important confluence zone to watch for potential bullish movement, indicated by a rising trend line and horizontal structure on the chart. The expected goals for this movement are 2389 and 2405.
⚠USDCHF is currently at the top of an ascending triangle pattern on a short-term chart. This formation is typically seen as a strong indicator of bullish momentum in an upward trend. A breakout above the neckline at 0.9152 would confirm this bullish pattern, with a potential target of 0.9220.
CHFJPY successfully broke above the neckline of a flat top triangle pattern on a 4-hour chart and closed above it. This signals the strength of the buyers and suggests a possible return to a bullish trend. The next targets for buyers are 169.33 and 170.03.
⚠DXY closed last week at a solid daily resistance zone Depending on the reaction of the price to that structure, I see 2 potential scenarios for this week. Bullish Scenario If the price breaks and closes above 106.17 resistance on a 4-hour chart, a bullish continuation will be expected to 106.89 level. Bearish Scenario The price may respect the underlined...
AUDJPY has developed a significant head and shoulders pattern on the an intraday chart. The pattern's neckline was breached yesterday, with an intraday candle closing below it. I anticipate a downward trend now, with the next support level likely at 98.20.
We have observed two significant developments on the AUDCHF chart. The market has broken through and closed below a strong upward trend line and an important horizontal support level. These broken structures now form an expanding supply area. We can expect a further downward movement towards the 0.5828 level.
Yesterday, Gold hit a significant upward trend line on a short-term chart. Despite the market consolidating in a sideways pattern for a while, touching the trend line caused the pair to move higher. The market then surpassed and stayed above the resistance level of the range. I anticipate that the pair will continue to rise after retesting the broken...
The GBPUSD experienced a significant decline yesterday following the release of CPI data. After reaching a new intraday low, a corrective movement began. The market was showing steady growth within a bearish flag pattern. To anticipate a bearish trend continuation, look for a bearish breakout below the flag's support level. If the price breaks and closes below...
USDCAD is currently testing a strong horizontal daily resistance level. Once it reached this level, the price began to consolidate in a tight horizontal range on the 1-hour timeframe. To consider a short position with confirmation, it is recommended to wait for a breakout below the support of the range. A close below this level on an hourly candle will confirm...
The GBPNZD broke through and closed below a short-term horizontal support level, which has now become a resistance level. Given that the pair is currently in a downward trend, it is likely that we will see further bearish movement towards lower levels of support. Selling targets are set at 2.0799 and 2.0706.
The GBPCAD is experiencing significant bullish momentum. Initially, the market broke through a strong downward trend line on a 4-hour chart. Additionally, it surpassed a broad supply zone. These broken barriers have created a larger demand zone. I anticipate a bullish trend towards 1.724 - 1.728 levels.
Last week, the EURUSD hit a significant level of support and formed an inverted head and shoulders pattern, which led to a bounce and a break of the neckline. This indicates strong buying pressure and suggests that the market may continue to rise after retesting the broken structure.
On the GBPUSD chart, an inverted head and shoulders pattern has emerged within the 4-hour timeframe. The critical range for the neckline is between 1.2684 and 1.2660. A break and close above this range could be a strong signal to initiate a buy position, either immediately or upon a pullback to the neckline. Anticipation is set for a bullish trajectory aiming for...
⚠️Gold is currently on an upward trend globally. It’s adhering well to the expanding rising wedge pattern seen on the 4-hour chart. After hitting the resistance, gold began a corrective phase. This uptrend has been ongoing for over a month. There’s a support cluster at the base of the wedge and a flat support level. The market’s response here could lead to one...
Gold appears to be overvalued in my opinion. On the 4-hour time frame, the market has shown a rising wedge pattern and a double top pattern within that. Both the neckline of the double top and the support line of the wedge have been breached. This indicates to me that a corrective movement may be on the horizon for the pair. My targets are set at 2263 / 2240