EURUSD July 14th Daily AnalysisPrice currently in Monthly range zone 1.18206 - 1.22313. Daily RSI shows Bearish Divergence & Hidden Bullish Divergence. Bearish Divergence is when price made reversal from top of zone to bottom. The hidden Bullish Divergence has been slowly getting created. The marked circles are hidden bullish divergence which means trend continuation to upside. There has been a reversal pattern formed on 4H. You can view pattern in my link to related ideas. Waiting for breakout of pattern.
4h
USD/CHF 4HUSD/CHF 4H Linear scale :
First, we can see a finished cypher down confirming our AB=CD pattern (at the C rn).
I used the BC line which is also the final cypher leg to draw a Fibonacci retracement giving us levels for our trade.
I used the 0% level as a target without being too hungry. We can still adjust the stop loss tho.
We are currently bearish because of our ABCD and possible ( not sure and present on the chart ) falling wedge.
GBPJPY Possible Weekly Bull Hammer Inverse Head & Shoulders on 4H. If price can complete this pattern by the end of week and remain in the area weekly candle will be a big bullish hammer. Indicating possible strong trend continuation for swing move. Price has some resistance obstacles to break though to complete pattern. Has to break small 4H trend line, daily resistance (151.359) and the 50 EMA .
GBPJPY PivotPossible Pivot areas marked using pivot traditional indicator (15 min for intraday pivot levels).
4H has buying pressure and currently forming a W. If pattern holds looking for 152.600.
If price continues down looking for strong rejection from one of the support levels near the bottom of the daily pennant.
Bitcoin will close to the week at $34500 - $35000 Bitcoin started the 9 Jul with an Abnormal Pin Bar . At the same time, that candle has returned from a strong key level and a trend 1 support. Also the volume approves of the return too.
I think the overall situation isn't very heartwarming, but it will go green for bitcoin this weekend. and It’s going to start next week in the $34500 - $35000 range.
Indicators used:
- Volume (20)
- Abnormal Pin Bar (2, 4.5, 2)
- Trend Key Points (10, 3, 1, 0, 2, right, 10)
XAUUSD - GOLD - 4H - NEWS - SHORT/SELLExpected NEWs Effect :
As today USD is publishing its NONfarm Payrolls from one hour to this post,
If it's positive and USD breaks above its inverted head and shoulder position.
Gold will have a huge downside movement, as gold has already diverging 1H before the news.
Please solid Bearish movement and then only enter this trade. Keep your Risk calculated.
This is a fundamental analysis for the long term.
Happy trading.!
Best Regards,
The MorningStar Forex
USDCAD quick buy (moderate-high risk idea)- I wouldn’t be surprised to see USDCAD going more in the bearish direction on higher time frames. That being said, this trade is an attempt to counter trend trade under the assumption USDCAD will retest to the upside, then continue down.
Why is it moderate-high risk?
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-USDCAD May continue to go bearish without retesting to the upside.
- That being said, it is a quick trade, and if USDCAD either continues in the bullish direction and breaks the trend line, or retests then goes bearish, we will most likely be in the green on this trade.
EURUSD - 4H - HIDDEN DIVERGENCE - SHORTEURUSD has been moving in a downward direction for a weekly retracement, Also the 4H timeframe is giving a Hidden divergence, which is a sign of a trend continuation. Please look out for entry-appropriate Price action for Short Swing Trade.
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Happy trading.!