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EUR/GBP: Pressuring critical support at the 0.8815 Fibonacci retConsolidation is giving way to a fresh test lower, whilst intraday studies track lower, with prices currently retesting critical support at the 0.8815 Fibonacci retracement. Daily readings are mixed, suggesting further consolidation around here, but a break will confirm continuation of September 2020 losses towards the 0.8750 retracement. Meanwhile, resistance remains up to 0.8900. An unexpected close above here will turn sentiment Positive, and signal a more sustainable rally towards 0.8950.
by Continuum_Economics
EUR/USD Update: Balanced above critical support at 1.2059/65No significant change, whilst mixed daily readings keep price action cautious. Intraday price action is leaning lower, but critical support at 1.2059/65 should continue to underpin any immediate downside tests. The broader weekly chart, however, continues to deteriorate, suggesting the current consolidation phase is likely to give way to renewed losses. A later close below 1.2059/65 will confirm continuation of January losses and open up the 1.1975 retracement. Meanwhile, resistance remains at 1.2150. A close above here, if seen, would prompt fresh consolidation below 1.2200. An unexpected break above here is needed to turn sentiment Positive and open up the 1.2235 Fibonacci retracement.
by Continuum_Economics
EUR/GBP Daily: Scope for a test of the 0.8815 Fibonacci retThe pullback from 0.8900 is pressuring critical support at the 0.8830 weekly low of 21 January, where oversold intraday studies could prompt short-term consolidation. Daily stochastics have ticked lower, however, and the Tension Indicator is flattening, highlighting a deterioration in FX:EURGBP sentiment and scope for a later break. A close below 0.8830 will extend broad September losses towards the 0.8815 Fibonacci retracement, where fresh consolidation could unfold. However, weekly charts are turning down, highlighting risk of a later break and deeper losses towards the 0.8690 low of May 2020. Meanwhile, a close above 0.8900 would help to stabilise price action and put prices into consolidation below 0.8950.
by Continuum_Economics
Chart AUD/USD Update: Limited gains - background deterioratingThe break below 0.7700 is finding support above the 0.7659 weekly low of 18 January, whilst oversold intraday studies unwind. Focus is back on congestion around 0.7750, but negative daily studies and deteriorating weekly charts are expected to limit any break to 0.7800/20. An unexpected close above here will turn sentiment outright Positive and extend broad March FX:AUDUSD gains towards the 0.7915 high of March 2018. Following corrective trade, fresh losses are looked for, with a later close below 0.7659 confirming continuation of January losses and opening up the 0.7625 Fibonacci retracement. Still lower is 0.7600.
by Continuum_Economics
GOLD POTENTIAL PLAY Gold Gold Gold, such a wonderful market to trade, such a beast to master. Whats up guys, i never show ideas for gold, but i think its about time i start posting more on here so this is the first step I suppose. Lets hop into it; as we can see, gold is in somewhat of a consolidation zone marked in purple, and this is telling us either price is preparing for a shoot upwards, or a shoot downwards. It really depends on the close of the next hourly candle in my opinion. So using price action, we will have 2 scenarios: Price closes bullish and continues upwards (this can be a doji as well, as long as the candle is a bull candle). In this instance, we would move to the smaller timeframes and search for a potential entry for a buy and ride the wave to the green I have marked up for a nice little scalp on the day. Scenario 2: Price closes BEARISH (Engulfs the last bull candle, and stays under the 2 ema's I have marked on my chart). In this instance, we would be searching for short positions and place our stop loss just above the upper level of this little consolidation zone and rice the wave to the lower wick marked by the support line I have on bottom Which ever may be the case, we must be patient in our approach and resist the urge to hop in the market early just because we might thin we know where price will go. Just wait, and trade WITH the market. Not ahead, and not behind; WITH the market. Trade safe, Trade smart, Trade Precise, we got this
OANDA:XAUUSD
by fastboiijd
GBPUSD Potential Reversal...Whats up guys, Im back with yet another idea. We posting early this time but its time for me to get on my trading view grind for real. This on is fairly simple right now, and it involves 2 potential resistance levels. The first, which is marked in blue and the second marked in red. Price was pushing down heavily during the night and completely reversed during the Morning of London session. Like i always say, price tends to reverse London's direction during the New York session. This doesnt always happen but its fairly common. As we look at the first level of support i have marked, we can look back on the hourly chart and see that price has been here a number of times, clarifying this level as a semi strong resistance. If price breaks pas this level, we can wait for price to hit the red line i have marked and observe orice action from there. Not a lot of hints from the market right now since we are in the middle of a move it seems like. Whenever price is in the middle of a move up or down, its wiser to stay on the side lines and wait for consolidation or rejections of some sort. With that being said, traders, be patient this morning and wait for clear indications from price on potential sell opportunities, i see on the RSI that we are over bought heavily, yet another indication of a potential reversal in this bull run. The candles have been bullish in nature however, so this could be completely off and price just continues to shoot up... TRADE SAFE, TRADE PRECISE, AND TRADE IN FLOW!
by fastboiijd
Chart EUR/JPY Update: Lower from 126.30 Fibonacci retracementThe test of the 126.30 retracement is giving way to a short-term pullback, whilst overbought intraday studies unwind. A break below congestion around 126.00 is highlighted, but rising daily stochastics and the improving Tension Indicator should prompt fresh FX:EURJPY buying interest around 125.50, before negative weekly charts extend losses still further. A close beneath here will add further weight to sentiment and put focus on 125.00. Meanwhile, a close above 126.30, if seen, will delay downside tests and open up 126.50/55.
by Continuum_Economics
Chart USD Index DXY Update: Short-term ranging. Lower laterThe test of congestion around 90.00 has given way to a short-term corrective bounce, whilst oversold intraday studies unwind. Focus is turning to 90.50, but negative stochastics and the deteriorating Tension Indicator suggest difficulty sustaining any immediate tests/break. In the coming sessions, consolidation is expected to give way to further losses, with a later close below 90.00 opening up critical support at 89.21/23. Improving weekly charts should prompt fresh consolidation above here.
TVC:DXYShort
by Continuum_Economics
Chart GBP/USD Update: Poised for fresh gainsChoppy trade around the 1.3675 Fibonacci retracement and the 1.3711 weekly high of 14 January is showing signs of improvement, as intraday studies turn higher. Daily stochastics are also turning higher and the flat Tension Indicator is ticking up, highlighting scope for fresh FX:GBPUSD gains in the coming sessions. A later close above 1.3711 will turn sentiment outright Positive and extend broad March 2020 gains towards the 1.3775 multi-year retracement. Flat weekly charts could prompt fresh reactions around here. Meanwhile, support remains at 1.3600. A close beneath here, if seen, would add weight to sentiment and put focus back on 1.3500.
Long
by Continuum_Economics
Chart USD/CAD Update: Sharp reversal to critical support at 1.26The pullback from 1.2800 has given way to a sharp break lower, with FX:USDCAD now pressuring critical support at the 1.2625/30 weekly lows from 6-14 January. Intraday studies are oversold, highlighting scope for short-term consolidation around here, but daily readings have ticked down, pointing to further losses in the coming sessions. A close beneath here will turn sentiment outright Negative, and extend broad March 2020 losses towards the 1.2527 low of April 2018. Meanwhile, resistance is at 1.2700. An unexpected close above here would delay downside development and put prices into cautious consolidation, capped by 1.2800.
Short
by Continuum_Economics
Nominating DOTThere is an insane hype on people folloowing this coin around the world, it is said that in a short time this single coin could divert money intended to go elsewhere and making it end up on DOT Account. Perhaps due to their Nominating posibility. (Also called Staking). A process which involves serious, huge risks for the less experienced computer novices to start with and then some. Keep in mind that nobody without the Legal Clearances and qualifications is able to advise you to buy or sell any cryptocoin. (PLEASE.. Be aware that I am not qualified or licenced to provide advice) If after reading this lines you make further research and you take care of your money, that will be ok. Be careful. Whenever in doubt. Seek proper Professional advice. It is also worth finding out about the very complicated and advanced nominating system* they have. *Not recommended for beginners.
by Claudio18
NZDUSD Sell 300 pip opportunityNZDUSD in overbought conditions on weekly and daily. Expecting a reversal shortly with a daily bear candlestick formation as confirmation to enter sell. Conditions to enter: 1. Bear Candle below downwards channel 2. For current entries use current stop loss and reenter when we have a bear candle back in channel. Indicators: 1. NZDUSD main directing is still bearish in a downward channel. 2. Current double top retesting past resistance. 3. Stochastic RSI overbought, will correct itself to follow technicals. TP 1 @ prior support area TP 2 @ next support area Technicals will indicate where we go. Good luck trading! Charles V CVFX Management Trading kept simple.
Short
by cvfxwealth
Bullish for EUR/USD Here we have a finished impulse forming what is the end of a Bullish flag! Because there is no higher high yet! we will be lloking to enter a the trade by brake of the correction and end it by the key level of the previous high! Further in at the 1H timeframe we can see a bearish flag inside it If we brake to the downside we might be hiting the support at the bottom and jumping back to brake the correction and go into our trade! Here is our preferd setup for EUR/USD coming up next week OANDA:EURUSD
Short
by SKLAXFX
A GREAT EXAMPLE WHERE PRO TRADERS DOWe do the analysis and we have reasons for entry. But what priority is your money management system. I being honest with my trade and analysis. Pro traders have a ratio where we put our stop loss and take profit. This trade is actually a good trade because we follow the system even it hits sl. At the first place, before we predict the market, we agree how much we want to risk. But for new traders, they don't understand because when the time goes by they start to lose their confidence in the trade when at the first place they already agree how much they wanna risk their capital. Hope this teaches you something. Watch my previous post about this analysis of this pair. If you Agree, hit the like button and follow me to see my opportunity to buy or sell in the market. Keeping the trade simple, even it's super simple, as long as you understand what you are doing then take the risk to gain. Priority: 1. Stop loss must smaller than your take profit. 2. Must at least 2 reasons why you enter the trade. 3. Trade and Forget. Psychology: 1. Not all setup is valid, its fact. 2. Trading is predicting the market. 3. The only way to win in Forex is by controlling your lot size and your risk to reward ratio. 4. Sometimes when the price hit your stop loss but you still follow your SYSTEM, its still a good trade. READ IT AGAIN! Apr 15 Trade active
Education
by UnknownUnicorn4036496
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