EUR/JPY BEST PLACE TO SELL FROM|SHORT
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EUR/JPY pair is trading in a local downtrend which know by looking at the previous 1W candle which is red. On the 1D timeframe the pair is going up. The pair is overbought because the price is close to the upper band of the BB indicator. So we are looking to sell the pair with the upper BB line acting as resistance. The next target is 158.543 area.
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Forecast
DXY Will Fall! Sell!
Take a look at our analysis for DXY.
Time Frame: 3h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a significant resistance area 103.924.
Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all the way down to 103.688 level.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
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EURCAD Will Go Down From Resistance! Short!
Here is our detailed technical review for EURCAD.
Time Frame: 1h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The price is testing a key resistance 1.513.
Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 1.509 level.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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NZDCAD Will Go Lower! Sell!
Take a look at our analysis for NZDCAD.
Time Frame: 1h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is trading around a solid horizontal structure 0.833.
The above observations make me that the market will inevitably achieve 0.830 level.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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AUDCAD Is Very Bearish! Short!
Please, check our technical outlook for AUDCAD.
Time Frame: 3h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is on a crucial zone of supply 0.914.
The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 0.910 level.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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EURUSD: Will Keep Falling! Here is Why:
It is essential that we apply multitimeframe technical analysis and there is no better example of why that is the case than the current EURUSD chart which, if analyzed properly, clearly points in the downward direction.
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BITCOIN BEARS ARE STRONG HERE|SHORT
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We are going short on the BITCOIN with the target of 65,608 level, because the pair is overbought and will soon hit the resistance line above. We deduced the overbought condition from the price being near to the upper BB band. However, we should use low risk here because the 1W TF is green and gives us a counter-signal.
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EUR/CAD SHORT FROM RESISTANCE
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EUR/CAD is making a bullish rebound on the 4H TF and is nearing the resistance line above while we are generally bearish biased on the pair due to our previous 1W candle analysis, thus making a trend-following short a good option for us with the target being the 1.506 level.
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USD/CHF BEARS WILL DOMINATE THE MARKET|SHORT
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The BB upper band is nearby so USD-CHF is in the overbought territory. Thus, despite the uptrend on the 1W timeframe I think that we will see a bearish reaction from the resistance line above and a move down towards the target at around 0.865.
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USD/CAD SENDS CLEAR BEARISH SIGNALS|SHORT
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Previous week’s green candle means that for us the USD/CAD pair is in the uptrend. And the current movement leg was also up but the resistance line will be hit soon and upper BB band proximity will signal an overbought condition so we will go for a counter-trend short trade with the target being at 1.373.
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CAD/JPY BULLISH BIAS RIGHT NOW| LONG
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CAD/JPY pair is trading in a local downtrend which we know by looking at the previous 1W candle which is red. On the 1H timeframe the pair is going down too. The pair is oversold because the price is close to the lower band of the BB indicator. So we are looking to buy the pair with the lower BB line acting as support. The next target is 109.909 area.
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USOIL Will Move Lower! Short!
Here is our detailed technical review for USOIL.
Time Frame: 9h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a key horizontal level 69.00.
Considering the today's price action, probabilities will be high to see a movement to 65.47.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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GBPAUD Is Bearish! Sell!
Take a look at our analysis for GBPAUD.
Time Frame: 9h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a significant resistance area 1.973.
Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all the way down to 1.953 level.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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GOLD BULLS ARE GAINING STRENGTH|LONG
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GOLD is trending up which is obvious from the green colour of the previous weekly candle. However, the price has locally plunged into the oversold territory. Which can be told from its proximity to the BB lower band. Which presents a classical trend following opportunity for a long trade from the support line below towards the supply level of 2,790.303.
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USD/JPY SELLERS WILL DOMINATE THE MARKET|SHORT
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USD/JPY pair is in the uptrend because previous week’s candle is green, while the price is evidently rising on the 1D timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 148.325 because the pair overbought due to its proximity to the upper BB band and a bearish correction is likely.
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AUD/JPY BEST PLACE TO BUY FROM|LONG
Hello, Friends!
We are going long on the AUD/JPY with the target of 100.544 level, because the pair is oversold and will soon hit the support line below. We deduced the oversold condition from the price being near to the lower BB band. However, we should use low risk here because the 1W TF is red and gives us a counter-signal.
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GBPNZD: Expecting Bullish Movement! Here is Why:
Remember that we can not, and should not impose our will on the market but rather listen to its whims and make profit by following it. And thus shall be done today on the GBPNZD pair which is likely to be pushed up by the bulls so we will buy!
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