NZDUSD: Bears in ControlNZDUSD printing continous Lower Highs and Lower Lows with RSI indicator not suggesting any Divergence. A trade plan with 1% risk is defined using the Fib Retracement Tool.
Forexshort
AUDCAD Potential Bearish ShiftOn an hourly timeframe, AUDCAD printed an Evening Dogi Star followed by a series of Lower Highs and Lower Lows which suggests a potential downward momentum.
The latest USDJPY analysisHello traders, what do you think about USDJPY? This pair of money is moving in a downward channel that has cooled down. Now it is expected that it will decrease at least to the point that is specified after completing the pullback.
What is your point of view? Do you agree with me? ❤️
EUR/AUD broken below the M Formation - Havoc to go to 1.5819M Formation has formed over the last month with the EUR/AUD.
If you saw the last trade analysis, you'll see the EUR is showing downside on all large currencies.
We've now had a breakout below the neckline of the M formation, which means there is downside to come.
21>7
Price is testing the 200MA. So only once it breaks below will it give a stronger indications of further downside to come.
Target 1 will be at 1.5819.
EUR/GBP broken uptrend - Heading to 0.8407M Formation has formed over the last month.
The price also broke below the uptrend, which signalled strong downside to come.
The EUR is not looking good along with other other counterparties.
And we have further downside signals like.
21>7
Price<200
RSI<50
Target 1 will be all the way to 0.8407 which gives this potential trade a Risk to Reward of 1:1.8
USD/CAD short emerging from Rev Inv C&H with target 1.2900There are many different variations of patterns showing.
And they are all leading to downside.
We have small Rounding Tops, small Inverse Cup and Handles.
We have a break in the most recent uptrend line..
But I am focusing more on the bigger picture.
There is a solid Reverse Inv Cup and Handle forming since 10 August 2023.
The price has almost completed the final Inverse Cup and is approaching the brim level.
We have other indicators confirming with 21>7 - Bearish in the short term.
We also have the price coming down to test and mighty 200MA.
Break below, and it'll give us more confirmation of downside to come.
RSI is falling below 50 like a knife, showing downside momentum.
All in all, my first target will be at 1.2900
PS: This also goes in line with the overall DOllar weakness that has helped boost the stock markets world wide and the indication of a slow down in interest rate hikes.
Great for stocks not great for the US dollar.
$EU Short Idea UPDATEHi guys, this time i bring you an Euro analysis which isn't directional because i want you to comment your thoughts about where this is going to go, in my own opinion this is bearish at the moment but it could turn into a bullish situation if DXY flips it's H4 OB or bounces down from the Daily OB.
UPDATE: DXY had a CISD(Change in delivery of state) which leaves us with one conclusion with a few confluences
-DXY CISD & Weak push
-EU upper liq
$GBPUSD Short AnalysisHi guys, this time i bring you a $GU Short analysis where i'll be looking for Buyside Liquidity to be taken so we can keep developing and finish this PO3, my short is based on my weekly BIAS which is really bearish, same as Monthly or even Daily, in this case i'm really leaning a lot on my IRL>ERL>IRL>ERL cycle where i expect us to take the liquidity from the lower part.
Ongoing downtrend with CAD/CHF - with warningThere has been an evident downtrend since June 2022.
The price continues to bounce on the resistance, just to come down and make a lower high...
However, there has been somewhat an established strong support as of late around 0.64666.
We will most likely see short term upside to 0.6629. And if it fails to break the resistance and come down, then the short target will most likely be at 0.6277.
Good to watch and see how it plays out.
GBPUSD at the crossroads.On the weekly timeframe, OANDA:GBPUSD has come back down to previous resistance turned support AND the line of an uptrend. What do we think? Personally, I am short. Last week's indecision candle was met with higher than normal volume followed by a continued selloff. A break below could mean big red soon.
NZDCHF to drop again after a Short Formed M FormationShort Formed M pattern has formed where the second rounding top has a lower high than the previous.
This confirms the sellers are in control.
Now that the price has broken below the neckline, means we can expect the price to make the next down leg.
A conservative entry will be for one more leg up, test and break down.
200>21>7
RSI<50
Target 1 will be at 0.52711
AUDNZD bounces down from the Overbought ZoneOn the 15 minute chart- the AUDNZD pair is shown to have encountered overhead horizontal
resistance by the Luxalgo indicator. It has been unable to get above the 2nd standard deviaion
line of the anchored VWAP and deflected downward. Price is now below the POC line of
the multisession volume profile. Overall, bearish bias is on the chart as confirmed by the
zero lag MACD with the lines crossing down on the horizontal zero line. I will trade an additional
short sell trade on this pair and review the strength of AUD as compared with EUR USD and
JPY for other trade possibilities. My target here is the underlying green zone of support and
demand.
UPDATE AUD/USD Almost hit take profit now final stretch SMCAUDUSD formed a Rising Flag and broke below.
We then had price declining on a decent 45 degree slope showing the supply side was strong.
We had peripherals showing downside such as 21 >7 - Bearish RSI < 50 - Bearish
Target 0.6500
The target is still on as now there is a small Rising Pennant forming which we can expect to break to the downside.
SMC (Smart Money Concept)
Where the most recent low was you can see it is one of the strong levels of liquidity (supports). This formed an order block which swept shorters stop losses before going up. I think this upside is short lived and we'lll get one more push to the downside to sweep more liquidity which will get us out of the short.
However, it's not a bad idea to take some profits off the table and move stop to breakeven at this stage.
TARGET HIT - NZDCHF take profit hit and now expect consolidationNZDCHF M Formation beautifully.
Price broke below and showed strong downside to come.
200 > 21 > 7 MA
RSI <50
Bearish
Target hit at 0.5632
SMC
Yesterday, there was a candle where there was sell side liquidity. This sweeped liquidity from shorters and sellers and now is the reason price is going up. We can expect chop for the next few days before we get a clear signal where to go.
USDJPY is at HHUSDJPY making inverted hammer and on its HH, we can get some profit while selling.
Entry at 134.740
TP 133.740
SL 136.000
sgd/ jpy short daily timeframe hey all we have in sgd/ jpy bearish also have in macd big divergence in macd down but in chart style up
its great oppotunity to sell to hit targrt
target 94.300
short sek/jpy 15 minhey all as we can see big resistence in this area i will sell to look for targert
tp= 13,083
good night and goodluck
GBPJPY Short (mid-term trade)Shorting GBPJPY pair which bouncing from big resistance and broke the trendline which makes me act very bearish now. My TP will be placed at 38% of Fibonacci retracement around 151.60. SL placing above the red resistance line near 153.60
NZDJPY likely to face bearish pressure|29 July 2021NZDJPY is approaching sell entry at 76.516 which is in line with horizontal pullback support, 38.2% Fibonacci retracement and 61.8% Fibonacci extension . Should price break this level, we can expect price to plunge further and take support at the horizontal swing low support at 75.7680 in line with 78.6% FIbonacci retracement and 100% Fibonacci extension . Our bearish bias is further supported by how MACD is holding below the 0 line.
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I'm Heading To TownLookin for 60 plus pips today. Gonna let this one ride until tomorrow. No stimulus and the DOW JONES will fall which will bring DXY up and EUR down. I have a bigger STOP LOSS for a bigger goal. I will put a rolling STOP in about 10-12 PIPS behind depending on volatility.
"USDCAD starting a Long Term Bear Movement?" by ThinkingAntsOkDaily Chart Explanation:
- Price broke the Ascending Channel in which it was in since 2017.
- Price may have potential to go down towards the Support Zones.
Weekly Vision:
However, we found out that the Weekly Ascending Trendline have not been broken yet. That why we are waiting for a confirmation before taking long term positions.
UPDATES COMING SOON!
