The EURUSD pair is in the process of completing a Head and Shoulders pattern with the 4H technicals neutral (RSI = 51.260, MACD = 0.000, ADX = 33.876) on the Right Shoulder. The 4H RSI is under an HL trendline, which keeps it bearish short term, while having crossed under its HL trendline yesterday. The target of the Head and Shoulders can go as low as the 2.0...
AUDUSD hit Support (1) and is rebounding. The Fibonacci levels align almost perfectly with Support-Resistance levels. Trading Plan: 1. Buy for as long as the price is closing over Support (1). 2. Sell if it closes under Support (1). Targets: 1. 0.67850 (Resistance 1) 2. 0.65700 (Support 2). Tips: 1. The RSI (4h) hit the 25-day Falling Support. This is an...
The GBPAUD pair is on overbought 1D technicals (RSI = 70.497, MACD = 0.019, ADX = 49.220) with the price also close to the HH trendline of the past 9 months. We are buying the next pullback towards the S1 Zone and the 1D MA50, targeting R1 (TI = 1.9200). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are...
The AUDNZD pair is technically bearish on the 1D timeframe (RSI = 42.033, MACD = -0.005, ADX = 29.502), trading under the P1 Zone, which has been in place since 2021. It is under both the 1D MA50 and 1D MA200 and it targeting the HL trendline (TP = 1.05300). If the dashed LH trendline breaks, we will buy aiming at R1 (TP = 1.10800). ## If you like our free...
The NZDJPY pair is on a neutral technical price action on the 1D time frame (RSI = 51.078, MACD = -0.120, ADX = 32.313) as it reached the 0.5 Fibonacci level and 1D MA50 yesterday. This is the middle level of the long-term trading range inside the S1 and R1 Zones since April 20th 2022. So essentially this pair has been trading sideways for almost 1 year. Since...
CADJPY is trading inside a Channel Down pattern with the 1D technicals neutral (RSI = 51.739, MACD = -0.070, ADX = 39.994). Right noe the price is on the 1D MA50 and is bearish within the Channel Down targeting for its bottom (TP = 94.250). In spite of that, with a 1D RSI on HL and last time the price was on the 1D MA50 from a leg up, extending to the top of the...
AUDCAD is trading inside a Channel Down pattern with the 1D technicals bearish (RSI = 43.171, MACD = -0.004, ADX = 38.042). Even though the long term pattern is bearish, the rebound yesterday and closing over the 1D MA200 can be a bullish signal along with the HL that the RSI is on (bullish divergence). However until the 1D MA50 breaks, we cannot call for any...
EURUSD failed to cross over Fibonacci 0.786 for the second time in 1 week. This is bearish short term. Long term though, it is rising after the first 4hour Golden Cross in 5 months (more specifically October 26th). Though a pull back to Fibonacci 0.382 is possible and would be a gift, our long term Target is intact at 1.10250. Previous chart: Follow us,...
The CHFJPY pair is showing much strength today one day before the Fed Interest Rate, turning the 1D time frame technically neutral (RSI = 47.879, MACD = 0.010, ADX = 25.777). The rebound recovered the 1D MA50 and this is enough to turn us bullish on the pair, targeting the LH Zone (TP = 146.900). ## If you like our free content follow our profile to get more...
EURUSD is rising after a Triple Bottom on Support (1). The RSI (1d) is on a Rising Support indicating a strong bullish divergence. Expect the pair to go much higher once the recent fundamentals are neutralized. Trading Plan: 1. Buy on the current market price. Targets: 1. 1.07800 (inside the liquidity zone) Tips: 1. The MA100 (1d) is providing Support....
Last week's target on EURUSD is achieved. Using the Pitchfork tool, we see the zone the price currently trades in. That gives a direct 1.08350 Target on Fibonacci 0.618. The 4hour RSI is slightly under the overbough limit so we can't rule out a pullback to the 4hour MA50 and the bottom of the Pitchfork first, but the 1.08350 Target remains. Previous chart: ...
We took a bold buy last week on the 1D MA100 against popular sentiment as we didn't just see this as a long term Support but also the HL trend line. The price is now back above the 1D MA50 and its closing is key as 1D turned green again (RSI = 56.889, MACD = -0.002, ADX = 28.193) and above it targets not only R2 (1.08050) but also the HH trend-line). Be patient...
The EURJPY pair is bearish on its 4H technicals (RSI = 36.770, MACD = -0.190, ADX = 17.605) near the bottom of the 10 day Channel Down. The RSI is also inside a Channel Down but has more strength to lose before hitting its bottom. We may see a little more downside to it but on a 1 week horizon this is a buy opportunity (TP = 144.350) aimed at the top of the...
EURUSD is rising after making a Double Bottom around 1.05265 and the 1day MA100. We have a potential W-shaped recovery forming, off an oversold 4hour RSI. Even though there are several Resistance levels in the way, including the 4hour MA50 and MA200 levels, are Target is 1.07800, straight the W-shaped recovery completion. Follow us, like the idea and leave a...
The EURUSD pair turned bearish on its 1D technicals (RSI = 40.726, MACD = -0.004, ADX = 33.089) after Powell heated up a rate hike acceleration on Tuesday and the sell off hit the 3 month HL trend line. Besides this, the strongest long term Support on the chart is the 1D MA100 that was almost hit. It is holding since November 10th 2022. As long as those two hold,...
EURUSD reached the Support Zone of February 24th-27th. As long as it holds, it is a Double Bottom. The MA50 (1D) is under it as an additional layer of Support, holding since November 10th. Trading Plan: 1. Buy on the current market price. Targets: 1. 1.06650 (Fibonacci 0.5 and Falling Resistance limit). Tips: 1. The RSI (4H) is rebounding after almost hitting...
EURUSD smashed through and closed over its MA50 (4h) with easy, extending today the gains. Potentially a new Channel Up is being formed, though not necessary it can contain a strong rise. Fibonacci 0.5 already filled. Trading Plan: 1. Buy within the MA50 (4h) and MA50 (1h) Zone. Targets: 1. 1.0720 (over Fibonacci 0.618 and potentially on the MA50 (1d) and MA 200...
The pair reached the bottom of its Falling Wedge as well as Support A at 1.05785. The price should technically rebound to the patterns top again and the 4hour MA50. Our strategy is to catch that rebound and sell the next leg down to 1.05235 if it continues to give a -1.25/35% decline. If it closes over the 4hour MA50, stop selling and switch to buying, Target =...