DXY For Leading weekHello dear friends.
In this analysis, you can see that the dollar index has reached the demand area. It can also be seen in that area that the price is in a relative support at 92.8 and 92.5 and its relative resistance is between 94 and 93.7.
To climb: Stabilize above 94
For Descent: Fix below 92.5
Good luck.
Forexsignals
potentiel paires hebdomadaire salut chers amis!
la semaine dernière , fut un peu troublante avec les annonces à n'en point finir et des retours macroéconomiques . J'avais donc jugé bon de m’abstenir de certaines analyses qui n'ont pas trouvés de validations qui me semblait probantes .
Alors cette semaine j'ai quatre paires de devises à surveiller .
1-AUD/USD (vert/orange) qui semble maintenir la tendance de la semaine dernière .
2-EUR/USD (rouge/orange) je serai en neutre sur cette paire en attendant un bon signal ichimoku .
3-CAD/USD (violet/orange) , sur cette paire je me prononcerai plus sur la paire USD/CAD qui me semble intéressante .
4- GBP/USD (bleu/orange) .
rendez-vous sur mes analyses de la semaine .
merci.
Trade from 26th March - USDCADSell Trade USDCAD - Profit
I have expected that it will go more down without a pullback up and then again down
So i have closed it earlier after i have seen the change of beaviour to dont loose
We never know what the market makes, we only judge the market and take the decision with the higher probability
Follow me and check my results in:
en.zulutrade.com
The power of supply and demand imbalancesIt never ceases to amaze me how powerful bigger timeframe imbalances are and how price can react to them no matter how old these imbalances are. There is a clear example of a very strong supply imbalance on the British Pound versus New Zealand Dollar (GBPNZD) Forex cross pair.
There is a very strong monthly supply imbalance created around 2.09 price level last May 2016. It took 44 months for price to retrace to it, that’s quite a lot of time. This is the type of imbalance you don’t want to trade against. These imbalances are not support and resistance, supply and demand imbalances have nothing to do with support and resistance even though some times imbalances contain classic support and resistance prive levels used by so many traders.
Take a look at GBPNZD Forex cross pair monthly timeframe supply and demand technical analysis below. If you are trading intraday or even scalping Forex cross pairs, you will be losing all of your trades since you won’t be aware of the strength of the imbalance that took control.
Taking a look at the bigger timeframe imbalances will add extra context to Forex trading strategy and will keep you alerted of such strong imbalances that could cause havoc in your trading account.
Trading intraday and scalping Forex is fine for those doing it, there is no doubt that trading lower timeframes can be profitable, but we highly recommend you to keep track of strong imbalances on the bigger timeframes because if you do, you will be avoiding many losses. If you were long biased on GBP/NZD Forex cross and you had some losses, now you know why you had those losses.
GBP/USDHere you can see that I drew a rising wedge to track down the bearish move, I marked up how many pips was the last range and estimated how many pips I wanted from that trade. the market at this time was moving incredibly slow and missed the full range by 8 pips but that is ok because I wouldn't want to be that greedy and secure the full 192 pips that was predicted.
GBPUSD : The action of testing the 12 years trend lineHello all, here is my overview of the GBPUSD , let's get to my chart work.
The orange trend line is a very strong resistance area of GBPUSD, that's why I'm not surprise of the last correction of the price. Since it's the 12 years trend line, the price needs to give respect of this resistance trend line. Currently I'm looking for more retracement in upcoming day to the white region as the action of retesting the previous broken resistance trend line that is now become a support. Beside, the white support trend line is having an alignment with the .618 fibonacci retracement level.
The MACD is now trending at negative side with the negative side with the histogram is ticking down to the negative side showing the momentum for the bears are increasing.
There will be a very negative sentiment in the upcoming days and I hope that the white region can hold the price from further drop, because if it's not able to hold that, we will see a drop toward the green region as the interim swing low below 1.20000 .
Roller Coaster Indicator Suite, Futures, Forex, Stocks & CryptoA look out our Roller Coaster Indicator suite using examples of forex, stocks, futures and cryptocurrency. Highlighting the need to understand trade size when comparing risk to reward. Also how to identify the best time frame to trade for the instruments that you trade.
This Roller Coaster Indicator suite has an 83% win rate and uses a Stochastic/MACD Cross with special EMA points of control for entry and trade management. Again, they key is find the sweet spot with regards to the best time frame to trade for each currency pair, stock, futures contract or crypto instrument.
15th January 2015 what a day it was 15th January 2015
5 years yesterday
we can ever forget that day and many never will
When the CHF unpegged the EUR price
and the EURCHF dropped 2400 points
Many Many Traders went bust
even some Platform Brokers went bust for they could not pay the margin
what a day a day we hope to never see again
any lessons Learnt
never trust the CHF
GBPUSD is in corrective phase (multiple time frame analysis)Hello fellas, welcome back to the technical analysis with me and this time I will do the GBP/USD technical analysis starting from daily time frame and lower time frame. we might present you the elliot wave count on this current analysis too.
We have seen the sink of GBP following the descending value of EUR . But, I see this as a cycle and it's a good cycle if we look at higher degree of the price, even if the price is in up trend moves, we need a retracement to represents the sell off and take profit action from the long to keep this market healthy.
Now look at the technical analysis here, we can see that the price has formed an action of breaking out of the blue resistance trend line that is now become a support. And based on my 3 stages strategy of break out, we must aware that after the initial break out, there should be any retest action to the previous broken support or resistance as the 2nd stage and usually this 2nd stage is the correction pattern in higher degree. This guideline has the alignment with the elliot wave count which indicate the 1st impulse wave has finished on this GBPUSD pair. And now we will look for where will the ABC correction move ended. And what the coincide is that the golden pocket zone is having a confluence with the blue resistance trend line that is now become support.
EU : Shadow support and potential level to watchHello fellas, Here it is the short term view of current movement of EURUSD and today's potential movement for EURUSD .
Today, we can expect the price to test this 2 regions which are the yellow support trend line and the blue region as a shadown support which have the confluence with the previous yellow line.
Yellow line is simply the support trend line that has held the price since November 29th, 2019 and breaking down of this yellow line will lead the price to further fall around the white support trend line as the S1.
Look at my long term bias on my previous analysis in related idea
EU levels to watch this weekHere it is I present to all of you about the EU chart and potential levels to be tested in this week. I want to give several highlighted things in this chart.
First, Looking at the green resistance trend line, this is the resistance trend line which has driven the price since september 2018. This is however become the massive trend line and on daily chart, this resistance trend line is having an alignment with the 200 MA. So, currently the price has now showing the rejection toward this resistance trend line and this action is just showing us that the price still respect current resistance area.
Second, Looking at the price actually has formed the higher low structure and looks like the higher high structure will be formed in the near future. This is a pretty good pattern combination for now. After the price breaks out of the green zone, we'll see a rally toward the upside and long position for swing could be activated.
This weeks we will see a little retracement toward the 1st support zone or maximum to the 2nd support zone. But, my main bias is still testing the green resistance trend line.
EURJPY – Jpy currency is still in weakness, while buyers might pEURJPY – Jpy currency is still in weakness, while buyers might push higher
Trend: Strong Buy
Support/Resistance:
R4: 122.163
R3: 121.717
R2: 121.381
R1: 121.069
S1: 120.400
Price action:
Buyers might continue this trend after they break and hold above first resistance, if they're enough strong. First hard and slow target is at 121.381 level. If buyers will go forward, then trending way will follow buyers power.
Potencial trade idea:
Bulls targets:
T1: 121.381
T2: 121.717
T3: 122.163
NOTE – We are trading EURJPY via the preferred trading setups by EliteFxAcademy
AUDCHF – Buyers getting stronger (waiting for news)AUDCHF – Buyers getting stronger (waiting for news)
Trend:Strong Buy
Support/Resistance:
R3: 0.68791
R2: 0.68502
R1: 0.68292
S1: 0.68205
S2: 0.68006
Price action:
Buyers are ready to break higher by showing strong momentum. Till the news are not reliased, we can't know the next move in any way (recommended).
Potencial trade idea:
Bulls targets:
T1: 0.68502
T2: 0.68791
NOTE – We are trading AUDCHF via the preferred trading setups by EliteFxAcademy
CADJPY – Sellers trending continuationTrend: Strong buy
Support/Resistance:
R2: 83.867
R2: 83.548
R1: 83.125
S1: 82.785
Price action:
Buyers rebounce hard after sellers retraced from supportical level at 82.785. Sellers might be quite for a while, till buyers complitally get tired. Next buyers targets will show us strenght and decision how sellers will react after.
Potencial trade idea:
Bulls targets:
T1: 83.548
T2: 83.867
NOTE – We are trading CADJPY via the preferred trading setups by EliteFxAcademy
AUDUSD Hit our 5th Wave Target Zone after our Earlier Trade IdeaWe previously posted a trade idea using our Elliott Wave Indicator Suite on AUDUSD for potential Long 5th wave trade >>HERE<<
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