Price broke the 1.19250 area on Tuesday and is now back for a retest from below. Should the level prove to be resistance and show signs of weakness this could be another opportunity to hop onto the trend and ride the momentum. If New York fails to drive the movement today, tomorrow is filled with Fundamentals including NFP which could be the catalyst to close the...
Break and Retest Set Up? A rebound back to a recently broken level around the 0.61300 area. Sellers lurking in this zone and will try and defend the zone from buyers. If the level holds, we could once again see KIWI tumble lower by the end of the week.
Bitcoin currently holding just above 21.500. Topping pattern looks like it may now be complete with a double top formation. Buyers may once again attempt to regain control at 21.500 which could result in a temporary bounce hence creating a trap for longs. Big events happening in the crypto space on Friday which could trigger a market collapse.
Price is once again creeping towards support for a 5th attempt by the sellers to push lower. Despite numerous attempts, the buyers have successfully defended the zone since December 2022. Are we going to see another bounce or have the sellers now gathered enough momentum to break out of consolidation.
Double-Top confirmed with a break of neckline during New York today. A close below the neckline coupled with a strong Dollar opens doors to more potential to the downside for the next few weeks. Further interest rate hikes are expected later this month at higher rates than previously expected and today's speech by Powell may have very well put a nail in the coffin...
Final Lower high set during London this morning setting off the long anticipated break to the downside we discussed recently. Are we going to revisit the September 2022 All Time Lows at 1.03595? Time will tell. All I know is we`re in a Bear market for now and my plan is to look for selling opportunities until the trend proves otherwise.
Is Bitcoin about to do the unthinkable ? The highlighted zone marks the 21500 zone and will play an important role in determining whether we continue to trade higher or if this is the beginning of another painful leg lower for long term investors. Perhaps an opportunity to buy at lower prices?
From the last update on Wednesday we can see the 3rd lower high in the series is now in and price is now back at support. It"s make or break time for the British Pound as the week draws to a close and the dollar continues to hold up and attempt to push higher. Are we going to see lower prices for the Pound by the end of the week or will buyers regain control for...
A push to the upside ahead of BOE Gov Bailey"s Speech tomorrow. Could this be a bull trap setting up to trigger the next sell off ? If we continue to see Dollar strength in the market over the next few days this may well be the catalyst leading to a much weaker Pound over the next few weeks. A bearish monthly close for February signals bearish sentiment for March.
The Pound closed weak on Friday as the bearish sentiment continues to drive the market with what appears to be a Double Top on the Daily Timeframe 1.19000 marks what could be the neckline where buyers may attempt to regain control A break of 1.19000 confirms Double Top and should trigger more shorts In September 2022 the Pound dropped to 1.0350 forming a 37-year...
After a rejection at 0.65000 on Dec the 13th, the sellers have stepped in and for the first time since October, price has started printing new lows. Thursday saw the market break a significant trendline which price has been respecting since October. Also, for the first time since October the market has closed the week with a strong bearish candle. A strong dollar...
For the 4th week Gold has attempted to break above 1800 and has yet again been met with resistance. The week started with a push to the upside which broke the 1800 psychological level on Tuesday with price reaching its peak on Wednesday around 1823. A rude awakening for the buyers followed on Thursday with a sharp turn that sent the price back below 1800 ...
Last week price was met with a strong reaction at 0.6500, an important level for KIWI. Last time price traded at this level was in August after which a 900 pip move to the downside followed and a bottom was later found in October around 0.5500. Since then, buyers have been in charge and have brought prices back to 0.6500. For the first time since October we have...
From the last update a week ago price was wedged between support and resistance below 1800. On Tuesday we then saw price spike to the upside triggering buy orders as well as taking out any stop losses above the zone. Price consolidated above the 1800 zone until Thursday enticing even more buyers to go long. A strong reversal then came on Thursday which saw prices...
From the last update a week ago price was approaching the end of consolidation inside the triangle. On Tuesday we then saw price 'Fake Out' to the upside triggering buy orders as well as taking out any stop losses above the triangle. Price consolidated above the zone for 2 days enticing even more buyers to go long. A sharp reversal then came on Thursday which saw...
USDJPY (Daily) - Last week the Yen finally broke out of the 12 week consolidation zone with a strong impulsive move that came on Thursday. We saw the move violate both the 110.500 and 110.000 levels which are important numbers followed by a retracement move which came on Friday to retest the zone. As long as price remains outside the channel, we can expect more...
AUDJPY (H4) - Earier in the week we saw price impuse to the downside before it hit support and pulled back. It now looks like the correction move may be coming to an end and we may see another impuse which could potentiay break support and sink the pair lower.
Following yesterday’s sell off Gold appears to be forming another continuation pattern this time on the H1/30min timeframes. Price is currently wedged bewteen support and resistance and break of support could see gold sink even lower in the next few hours into tomorrow.