EURCHF: How to Catch The Next Bullish Move 🇪🇺🇨🇭
I have nicely predicted a pullback from a key weekly structure on EURCHF.
Ahead is a strong daily supply area.
To catch a further bullish continuation, wait for a bullish breakout (daily candle close above) of 0.9786 - 0.982 area.
After a breakout, a bullish continuation will be expected to 0.987 / 0.9915
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Swingtrader
GBPUSD: Detailed Technical Outlook 🇬🇧🇺🇸
I received a lot of questions from you this morning about GBPUSD.
Even though the pair is very bullish from the middle of July.
I want to remind you that we are trading in a global bearish trend
and I would consider a current bullish move to be a correctional wave.
Analyzing a price action, I spotted a nice little bearish flag pattern.
I assume that the market will keep growing within than till it reaches some significant supply zone.
The closest such an area that I see is 1.233 - 1.2483 zone.
I will expect a bearish reaction to that zone and the trigger that I will look for to short the pair will be a bearish breakout of a flag's support.
Then a bearish continuation will be expected at least to 1.206
Alternatively, bullish violation of the underlined yellow structure may push the market to higher structure levels.
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DOLLAR INDEX (DXY) Key Zones to Watch 💵
After setting a new higher high higher close 10 days ago, Dollar Index is retracing.
Here are the key zones to watch from where we may see a trend-following move:
Support 1 - 2 is based on a confluence zone between a major rising trend line and 105.1 - 105.8 demand zone.
Support 3 is based on 102.5 - 103.8 demand zone.
Once one of these zones is reached, look for a confirmation on long time frames to confirm a coming bullish impulse.
I will post an update one I spot a decent confirmation.
Alternatively, bearish breakout of these zone will trigger selling waves.
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EURCAD 4H SwingEURCAD is about to start a new Bullish Trend that will provide around a 1:20 if the setup comes. I have the 15min shown here. As divergence forms, I will enter market with buy orders and swing it all the way up. We are sitting inside a Daily Supply Zone from years ago, this will be insane.
SILVER (XAGUSD) Key Level Ahead! Your Plan: 🪙
Even though Silver is very bearish, ahead is a strong confluence zone on a weekly.
The underlined yellow area is based on 618 retracement of a major impulse leg and a horizontal demand area.
To catch a bullish move from that, watch a falling parallel channel on 4H.
Your confirmation to buy will be its bullish breakout (at least 4H candle close above).
Then buy aggressively or on a retest.
Your target will be 20.16
If the price breaks the underlined area to the downside, the setup will be invalid.
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GBPCAD: Bearish Continuation 🇬🇧🇨🇦
GBPCAD has nicely respected a resistance line of a falling parallel channel.
The price formed a double top on that and broke its neckline to the downside.
I expect a further bearish continuation now.
Next support - 1.555
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MarketBreakdown | EURJPY, EURCHF, GBPCAD, GBPCHF
Hey traders,
here is a brief technical outlook of 4 peculiar instruments on my watch list.
1️⃣ EURJPY - Daily time frame 🇪🇺 🇯🇵
I see the signs of a bullish accumulation:
the price has already set two equal highs and keeps setting higher lows.
I believe that we will see a breakout attempt of a current horizontal resistance.
Daily candle close above that will trigger a bullish trend continuation to new highs.
2️⃣ EURCHF - 3 days time frame 🇪🇺🇨🇭
The pair is approaching a solid horizontal zone of demand.
Be prepared for a breakout attempt.
Its bearish breakout will trigger a bearish continuation to a year's low.
3️⃣ GBPCAD - Daily time frame 🇬🇧🇨🇦
As I predicted, GBPCAD dropped nicely.
The pair formed a double top formation with a lower high.
Its neckline violation signifies a highly probable further decline.
4️⃣ GBPCHF - Monthly time frame 🇬🇧🇨🇭
The pair is currently approaching a wide weekly demand cluster.
Taking into consideration that the market is very oversold, I believe that we will see a pullback from that structure soon.
Look for a confirmation on lower time frames to buy.
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MarketBreakdown | Dow Jones (US30), BTCUSD, EURGBP, GBPCHF
Hey traders,
here is a brief technical outlook of 4 peculiar instruments on my watch list.
1️⃣ Dow Jones (US30) - Monthly time frame 📈
After a sharp bearish rally, the market reached a solid monthly demand area.
28600 - 30000 is a very important historical zone.
I assume that soon we will see a correctional movement and the index may retrace.
2️⃣ Bitcoin (BTCUSD) - Monthly time frame ₿
It looks like the market finally found a strong support.
The market stopped falling once it reached the high of 2017
and it looks like we will see a correctional move soon.
3️⃣ EURGBP - Daily time frame 🇪🇺🇬🇧
The pair is steadily growing within a rising wedge pattern.
For now, its support serves as the resort for buyers to buy from.
However, wedge pattern by itself is a bearish pattern,
so I am waiting for its breakout to short.
4️⃣ GBPCHF - Monthly time frame 🇬🇧🇨🇭
As I predicted, the pair dropped nicely.
Ahead is a major monthly demand area.
1.16 - 1.1745 is the area from where I will expect a retracement.
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EURUSD: 2 Structure to Watch Next Week 🇪🇺🇺🇸
Hey traders,
Even though this week was quite bullish for EURUSD,
remember that the market is trading in a bearish trend and we remain bearish biased.
Next week, I will be looking for shorting opportunities from 2 very important areas:
Resistance 1: 1.062 - 1.0655
Resistance 2: 1.074 - 1.079
I will expect a bearish move from one of these zones.
Let the price reach them and then look for a confirmation to sell.
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DAX Index: Be Prepared For a Breakout Trade
What a bearish rally on Dax Index:
for the 4 consecutive days, the market is falling sharply.
Ahead is key horizontal support.
I will be waiting for its bearish breakout to short the index.
Next support will be 12550.
Remember that you need a daily candle close below a blue support to confirm a breakout.
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