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Marketpullback

USDCAD Trendline Break PullbackHi Traders! USDCAD has come a long way down since the 3-month trendline break, and there is a possibility that the pair is oversold. Here are the details: After the trendline break, the market had an aggressive push down and has looked to have consolidated around the 1.33498 level, which is now the support area. If there is a hold above here, the market is likely to pullback upwards. Preferred Direction: Buy Entry Level: 1.33900 Stop Level: 1.33410 Target Level: 1.34879 Technical Indicators: 20 EMA Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Long
by BluetonaFX
5
NZDUSD Short Near Monthly HighHi Traders! NZDUSD is testing the monthly high for the first time, and there is an opportunity for a short entry back to the support level. Here are the details: The monthly high at 0.62498 is the key level here, and as the market is testing it for the first time, we are looking for the resistance level to hold. The longer the market holds below 0.62498, the more likely it is to pull back. Preferred Direction: Sell Entry Level: 0.62474 Stop Level: 0.65089 Target Level: 0.61809 Technical Indicators: 20 EMA Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Short
by BluetonaFX
11
BluetonaFX - GBPJPY Failed Bull Flag SHORT IdeaHi Traders! There is a potential failed bull flag opportunity on the GBJPY 1D chart. The flag looks like it has failed to continue the bullish momentum, and the price action now looks bearish. The market has broken below our 20 EMA, and the swings are getting lower with lower highs and lower lows. The pattern is turning into a bearish ascending channel. As long as we remain under the 20 EMA, we have a bearish outlook and will look for short entries with the aim of exiting at the support area between 181.597 and 181.220. Trade safely and responsibly. BluetonaFX
Short
by BluetonaFX
6
Bitcoin Bear Market ScenarioFollowing macroeconomic environment, with inflation reporting this week followed by upcoming central bank FOMC meeting in early may (rate hikes & balance sheet reductions)... the following high-level SR zones are key levels to watch. Assuming broader markets are going to experience a significant correction as the Fed loses ability to leverage QE & stimulus in propping up markets without hyperinflation risk, BTC as a risk-on asset will face significant headwinds. Without a changing economic environment, the markets will continue to realize bearish sentiment with more speculative assets (tech stonks & "digital asset technologies") realizing the most severe of pullbacks. FOMC in early May will attempt to reign inflation in, while June's FOMC meeting will include a more nuanced summary of economic projections given assessment of Q1 results as well as Q2 winding down.
INDEX:BTCUSDShort
by R0MM3LL
3