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EUR/GBP Cypher formation 1 HR (Sniper price action) strategy On the EUR.GBP 1hr chart we have a potential short opportunity at the D leg completion of bearish Cypher setup. The price reversal zone on this pair is between .8519 & .8577 The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's. Potential targets for the Cypher setup placed at the .382% and .618% retracement of the C to D move. There is also opportunity to look for extended targets at around .8328 Stop loss would be placed above X leg structure resistance. Target 1 - .8436 Target 2 - .8384
by MaconheroFDPCarpador
NZDUSD (Weekly) Reaching a STRONG RESISTANCE ZONETECHNICAL ANALYSIS: -For a long year, the market followed a clear side trend , bouncing between two really strong levels, a Resistance zone at about 0.74000 and a Support zone at about 0.68310, breaking it during a Downtrend in June 2018. -The price then started following a new side channel, using the support zone as the new Resistance zone until the beginning of November. -A strong volatility made the price breaks the resistance zone and now the price is still following a clear and intense uptrend, trying reaching our previous weekly level at 0.74000. CONCLUSION: The market is actually going up, closing everyday with clear upbars. Even if the price is overbought, there is still no sign of inversion, it could be a confirmation that the price is trying to reach the resistance level. I'll definitely wait an inversion of the market before entry short, at the moment, I'll just see what will happens! If you enjoyed my free analysis, just let me know with a LIKE and COMMENT sharing also your ideas! (Don't forget to follow my channel for more free analysis like this!!) Have a good Friday and Trade Safe! Gianni
Short
by FXtrades-gp
EURUSD H4 Still following the ASCENDING CHANNELTECHNICAL ANALYSIS: -Since the end of November, the price was clearly following an Uptrend, strong Volatility and Volumes pushed it up until it reached a resistance zone at 1.21685. -The market then started creating a DESCENDING TRIANGLE, bouncing twice on the support zone, base of the triangle, until the price was Oversold and it opened the day later with a strong and tall daily UPBAR. -The price actually is following an ASCENDING CHANNEL, it just reached the resistance zone of the channel, it will probably reverse soon in a small time frame (h4). CONCLUSION: I previously reviewed this market and I aspected the price going down, it haven't broken yet the support zone I'm looking for. The price is moving in a nice trend and I think is going to touch a Strong Weekly Resistance level at 1.2426. In a daily time frame the trend is still very strong, so I suggest to everybody to NOT OPEN ANY SHORT POSITION Right now, I'll wait with patience the inversion of the trend. If you like the idea, please let me know with a like, follow me if you enjoy my works, I really hope to be usuful for everybody! have a nice Thursday! Gianni
Short
by FXtrades-gp
2
EUR/NZD to retest lows of 1.6020To recap the movement for EURNZD last week, the pair traded lowerafter a bearish pinbar on the weekly chart from the previous week as the EUR remains pretty much weaker, after the Fed raised rates and economic figures from Europe came in mixed. Monday and Tuesday saw the EUR/NZD trade lower, after which traded pretty much sideways as commodity currencies took a hit, as crude oil fell to the lowest levels since the 2009 financial crisis. Current within a range between 1.6240 and 1.6020, we need to see a break below the low's last week for further downside moves. The speed of the current decline seems to be respecting the 21 EMA on the 4hr chart, and we will use this as a guideline for our stop levels, which is currently placed near 1.6235. With a pretty quiet week for major economicc data coming up, the pair is likely to consolidate within the range, which is why we plan not to move our stops relative to the 21 EMA for this week. We will need to watch what happens at the 1.6020 lows of last week as a failure to break below, will form a double bottom formation, leading to a recovery for EUR/NZD, back towards 1.6400. Fundamentally, NZD seems to be bearish but the medium term outlook should allow the NZD to improve slightly, from previous comments about interest rate cuts being put on hold, and GDP results in line with expectations. We are however, worried about EUR strengthening, as the bearish cycle of the EUR decline seems to be coming to an end. We would like to see EUR/USD break below 1.0800 for further declines, which is highly likely, given that the Fed has tightened, and renewed dollars should push the EUR lower, as it is still structurally weak. For more analysis, please visit our page at www.fxgenesisfm.com
Short
by FxGenesis