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EURJPY Analysis: Daily Timeframe Chart Pattern. Conclusion for today’s EURJPY analysis: Price closing below ~120.33 suggests an increase in bearish momentum in the EURJPY that should lead to further selling. EURJPY analysis for today is presented on the Daily timeframe with coverage of over 6 years price action. Reason for looking at such longer term range is to highlight the current bullish trendline in the EURJPY that has been established since the week of July 23, 2012. The bullish trendline is very crucial to the future development of price action and therefore it is important to pay attention to as price action approaches. The 50 moving average crossing below its 200 Daily moving average does not bode well for the EURJPY. Also marked on the chart is the region of immediate support (i.e. 117.865 and 114.751) below the trendline. Price closing below the trendline is bearish for the EURJPY and further selling is implied on a close below 115.141.
by Coin_Analyst
EURUSD Analysis: 1 hour Timeframe Chart Pattern Conclusion for today’s EURUSD analysis: A close above ~1.12660 implies bullish strength in the EURUSD. EURUSD analysis for today is carried out using a 1 hour timeframe candlestick chart. The main purpose of analysis today is to quickly review price action. Besides, chart patterns that can be identified are also paid attention to since they are crucial to further development and projection of price. A descending triangle chart pattern is highlighted using price action from April 17, 2019 to current date, while a rectangle bottom chart pattern ( ideally bullish) is constructed using 1 hour candles from April 26, 2019 to date. It is important to keep in mind that the ideal implication of the descending triangle is bearish, but chart pattern non-confirmation is indeed a reality and does happen i.e. a close or break above the upper boundary as opposed to the base of chart pattern. Price breaking out above ~1.12660 does confirm the rectangle bottom and therefore further upside in the EURUSD. The width of the rectangle in this case is highly invaluable in estimating a minimum target for bullish momentum. Alternatively, the width of the descending triangle can be projected onto breakout point at ~1.12378 to obtain a minimum profit target.
by Coin_Analyst
"Trade Idea" on USDCAD by ThinkingAntsOk1H CHART EXPLANATION: The main items we observe in the Chart are: - Price is currently on a range, between an important Support Zone and Resistance Zone. - Bullish Divergence on MACD. - Price bounced on the Support Zone and is trying to go up. Based on this, if price breaks the Descending Trendline at 1,3435, it has potential to move up towards the Resistance Zone at 1,3505. Updates coming soon! Take a look at the context of the trade in our Top and Bottom Analysis on USDCAD in the Related Ideas !
Long
by ThinkingAntsOk
EURNZD Analysis: 6 Hour Timeframe Chart PatternConclusion for today's analysis: Price action closing above ~1.72766 is bullish for the EURNZD EURNZD analysis for today is examined on the 6 hour time frame with the sole purpose of inspecting chart patterns and moving averages (50 and 200) used in this study. Price action from December 03, 2018 to current date is present inside of what is best described as a rectangle bottom chart pattern (ideally bullish) coming after the bearish swing from October 7, 2018. The 50 and 200 moving average (MA) also do provide additional bullish bias for the EURNZD with both moving upwards with positive, rising slopes and price action trading currently above the 50 MA. The width of the triangle helps to provide not only the range but also excellent use to calculate a minimum profit target upon eventual breakout (confirmation) of the chart pattern. 1.71997 is used as the upper boundary, while 1.63251 represents the lower boundary of the rectangle formation. 1.72766 presents a higher level of resistance and is expected to give way should bullish momentum upwards continue. Lack of a break above 1.71997 implies the EURNZD selling off to reach the bottom boundary of the rectangle formation at 1.63251 as a minimum expectation.
by Coin_Analyst
EURNZD - SHORT - ASCENDING WEDGE + RSI DIVERGENCEBias: Short 1, Ascending Channel 2, Ascending Wedge 3, RSI Divergence 4, Price currently in Daily Resistance Overall, I am see a huge channel that made its way to a well respected daily resistance. Now that the price is hovering around in the daily resistance region, I am noticing a strong RSI Divergence and a textbook Ascending Wedge. The aim now is now to wait for the wedge to break, makes its way to the lower bound of the channel, break that and makes it way to the next support zone.
Short
by zorrays
$USDBRL $EWZ $BVSP - Brazilian Real Under PressureAs market volatility has come back with a vengeance and the US Dollar continues to remain strong, one EM currency that has been hit particularly hard this year has been the Brazilian Real ($USDBRL). Sluggish growth forecasts, coupled with waning support for the Brazilian President has sent the Brazilian Real to its lowest level of the year thus far. The sharp declines have also been fueled by uncertainty over the US-China trade talks on the macro level. The combination of the two forces, the external macro headwinds and feeble domestic economy, have been a perfect storm for the under-performance of the $USDBRL in 2019. Further more, on a technical basis, the $USDBRL continues to show deterioration within the Brazilian Real, with the 10-day EMA being a strong support for the currency pair. We believe if this continues, $USDBRL 4.25 is the next stop.
Long
by EconomicsGlobal
"Top and Bottom Analysis" EUR/CHF by ThinkingAntsOk4H CHART EXPLANATION: Main Items we Observe on the Chart: -On April 2019 price broke the ascending trend line -After that, price started a corrective structure -As we saw on the weekly analysis the price couldn't surpass the resistance zone and made a breakout of the corrective structure, starting a bearish movement Based on this, as the price breaks out below 1.13400 with close candlesticks we expect a continuation of the descending movement towards 1.11900 Expect corrective structures to be formed on the way to the support zone MULTI TIMEFRAME VISION: Weekly: Daily:
Short
by ThinkingAntsOk