With Bitcoin rising the way it does now, the btc-pairs are in for a rough time. ETH/BTC has been bleeding for a while now, and it has more to go. Assuming Bitcoin will rise further, I'd expect ETH/BTC to reach Support 1 in the next few days, potentially Support 2.
Silver has failed to close above the upper resistance and is falling quickly. The price passing the $26 mark is for me an indication that silver has started a new downtrend. Looking at the size of recent candles, we're not stopping anytime soon! I'm eyeing Support 1 and Support 2 as potential areas of high buying power, based at the recent lows. Do your own DD.
FX:CADJPY As price touched top of the major bearish channel, major daily's resistance and also confirmed in weekly time frame.... ( big drop going to happen ) Price broke the ascending channel... ----- So we can open short position or wait for correction and retest in H1 TF . . .
It seems that the upper resistance line is holding strong, Google bounced away from it for a fifth time now. With the bad Brexit news pouring in, I foresee that Google has more room to fall. My target would be the lower support line, but please do your own DD.
Last week, USD/CAD broke through the support which has been holding for almost two (!) years. After the support was broken, the price dropped around 1.3% in two days. This hard drop suggests that the price will continue to drop further in the coming weeks. I consider Support 1 and Support 2 as areas with a high chance of reversal / exhaustion. Feel free to select...
Silver hasn't seen the strong short selling pressure that Gold has seen recently. Yet. Silver notoriously lags Gold, we saw that earlier this year during the great bullish move of gold. Now, Gold has seen strong short selling, will Silver follow suit? I consider the $22 and $20 as main supports, they should return some nice R/R ratios.
On the 1H chart, XRP/BTC is clearly forming a wedge. It's likely that this wedge will signal a bullish move since it's close to a bull-flag, but it could end up being a bearish signal as well. Keep an eye out for price action and a convincing break-out above/below the confirmation lines, preferably on a higher time frame. Either way, I think we're gonna see some...
For several months now, GBP/NZD has been following a wedge. In the last two days it broke through the lower limit, signaling a bearish move. Support 1 and Support 2 are areas of potential reversal, especially Support 2. Support 1 at 1.88 is not necessarily an important area, but since the market is very unpredictable 1.88 brings a decent enough R/R. Support 2 has...
A week ago I made the prediction that Gold would be falling soon, and falling quickly. Little did I expect it would happen within a week! Since gold is close to the $1800 support, we can either see a small bounce or a break through the support. If we get a daily candle which closes below $1800, expect a major sell-off towards Support 2 around $1720.
AUD/USD is near a 3 month old resistance, which it has failed to break several times. Will it bounce off again? I suggest Support 1 and Support 2 as great potential exits for the short position, both with good R/R ratio's.
Apple has been following a perfect wedge pattern since August. Recently it tried to break out of it, without any succes. This rejection signalled a short term decline for the stock. Consider exiting the short position around the green area, since its close to the trend line and therefore risky.
GOLD has been following a descending wedge since last summer. The elections caused a surge in demand, but things went better than expected and risk hedging died off. With the current macro political and economic climate I see that the demand for gold is dying, which would cause the price to fall. The descending wedge pattern is a classically bearish pattern,...
EUR/JPY has failed to break through the upper trend line, continueing to follow the downward sloping channel. Consider exiting the short trade around the support line, since it might reverse there.
ETH/BTC is following a channel since early October. Recently it has hit the upper trend line of said channel and reversed direction. With Bitcoin showing very bullish behaviour, my guess would be that ETH/BTC will continue to fall in the short term. Consider exiting your position around the green support area. If Bitcoin keeps on rising, you might keep the short...
CAD/CHF has formed a channel since August. Currently the price is in an area of potential short-term reversal towards the lower trend line. We want to make sure that the price is actually bouncing off the trend line , so wait for a 4H candle to close below the confirmation line before entering the trade. Consider the Target line as a potential profit target....
Ethereum is starting to form a double top on the daily chart. It might be a short consolidation period before it takes off again, but if we get another red day we might see the price falling lower in the coming weeks. In case you're in a long position, consider taking some profits if the price continues to edge lower today and tomorrow.
CAD/JPY broke through the upsloping trend line. Prepare for some short term bearish action. Consider Support 1 as a good potential target to close your position (partially). Lasting bearish pressure will push the price towards the next target, Support 2.
GBP/USD reversed from the channel that it's been following for the current year. GBP's outlook is bad. Chances of a "No Deal Brexit" happening are increasing by the day since the ongoing talks between the EU and GB are fruitless. Be careful with going long GBP in the coming weeks. Consider exiting the short trade around the green area, the lower trend line.