Alexkly

Alexkly

After much review of the technical analysis on the YEN, I believe that over the past couple of days we have found our initial support level the @105.5 level. Price action is never quite perfect but has formed what looks almost like a "Head and Shoulders" formation on 4-1H Timeframe. Or you might see a double bottom, in any case I believe that in our current...

Alexkly

After establishing a new high in February, we can also see that price decided to form a double top on a Daily time frame. Soon after price decided to break several structure lows finding its support @ 1.218 at previous structure. Upon further review the 50 Moving Average has been breached on the Daily, awaiting second candle closure for confirmation of further...

Alexkly

After last weeks rally to the downside we are still trending lower it seems. After catching an advanced patter set up, a short bias can be announced. Using Fibonacci retreacements and extensions several criteria has been met. Starting off Measuring the XA we can find the C leg has met the 1.272%. Also a pullback of the B leg has met the .618% so now we must watch...

Alexkly

Based upon the movement of the markets a lot can happen. But based upon previous historical moves we see that there was a test & bounce off of the 38.2% Fibonacci. After that move we saw price fall down and almost testing the 61.8% Fibonacci. Now lets talk about this pattern. The first criteria has been met which is the XA leg Fibonacci extension of 1.272% has...

Alexkly

After a New High being formed on a 4H chart @ 1.255 we can take a step back and see a double top on a Daily chart. So, what can this mean? What information can we use to support our bias? Is this a reversal or a continuation of the overall bullish trend? On a Daily chart we can see that price has tested the 1.251 level 4 times indicating some strength in this...

Alexkly

The Aussie has been surprisingly strong going into this week with only US fundamentals giving it a stir recently. After bouncing off the new support @ .7777 we have since smashed through 3 Fibonacci levels. Also breaching a major daily resistance @ .7868 level. For this pair to continue to push higher a break of the 78.6% fib to establish a bullish overarching...

Alexkly

After aggressively reaching our daily support @ .72 we have seen price create its low. This key level upheld by the 61.8% Fibonacci confirms a bull bias. Also to strengthen this bias price action destroyed the .73 resistance level signifying strong bulls in the market. The next level for price to attain is a retest of the current structure high which coincides...

Alexkly

Previously We looked at a potential 2618 trade set up when the EURO was finding its support. Not that we've found it price has been making its way to a proper sell zone being at the 61.8% retracement level. Currently we are stalling at the 50% level but soon to be tested again after breaching the 32.8% level on its way to the upside. The anticipation for price to...

Alexkly

On a daily time frame you can draw out an ascending channel that price has tested but not yet breached. Last week we had support targets set at the 150 level which price tested but did not break. Upon further review with this weeks open being at the support level can imply a certain level of strength. If we see a bounce off this level at the bottom of our channel...

Alexkly

The New Zealand Dollar has been losing a lot of strength these past weeks after achieving a new high of .74 and above. Upon review on a 4H time frame there are some key levels to realize. The nearest target price also the most magnetizing level being the .73116 for its reputation of price revisiting it quite often upon its rise and demise. When tested, we may see...

Alexkly

After the Euro has formed its High after the big rally, it created a double top also known as a reversal indicator. Looks like it has found a support level @1.2212 level. A good possibility for potential entry is if this pair makes its way back to the resistance level of 1.2394 which is also a selling opportunity. The 2618 Pattern recognizes the 61.8% level as a...

Alexkly

It is no surprise that after reaching a New Structure High of (~.81) that we have such a bullish move, losing about (.30%) of its value. However the previous high was @ ~.805, so we can see that price is trending to the upside overall. Price currently is magnetized by the 50% Fibonacci level being our previous structure resistance turned to support. The key level...

Alexkly

After losing momentum after testing the 1.43 level on the Daily time frame price has moved lower and has formed a bear Doji candle. This indicates some indecision in the markets at the moment, Sterling trying to find its ground moves lower and lower breaking the 1.4 level. Hovering just below this level price action needs to decide if GBP will find itself heading...

Alexkly

February's High was reached @ 156 so the market seems to want to correct itself either to make another push to the upside or to continue in this downward spiral. Price has broken several key Fibonacci levels and slowed down @ the 38.2% fib indicating that to be a strong support @152.35. Taking the new structure high and the outside return using a Fibonacci...

Alexkly

With 4 recent tests of the .74 Resistance level indicates a strong psychological barrier for The Kiwi. A possible correction can be anticipated to gain some strength. A few areas of support that NZD needs to break for a correction to become evident are .72911 and .72746 which dangle below an ascending wedge pattern. Price action currently is resting at the bottom...

Alexkly

The month of January has proven that the bears had control over the market. That being said it seems that a glimmer of hope has arrived for the bulls. There has been a lower volume of sellers in the market giving price action a chance to retest a daily resistance level @ 109.705. That being said in the case of a further continuation of a bear market a few key...

Alexkly

In this Analysis of "Sterling vs. Japanese Yen" I found the Fibonacci quite a useful tool, as you may have noticed. I found that the 50% Fibonacci level is quite powerful and after a bounce off this level can indicate further bullish moves as we have seen before. Also the 1.618% Fibonacci if achieved can also add confidence for a bull market. Notice on a 1H time...

Alexkly

After reaching a new high after 2017 bullish year, we seem to have slowed down our momentum at the 1.42 level. On a 4H time frame we had a test and a bounce off of the MA. But if you notice after the bounce price created a doji candle, sometimes seen as a reversal indicator. My opinion of a short can be based on further inspection of the 1H time frame. Where a...