Antonio_trader

Antonio_trader Updated 

The dollar index (DXY) has had a good start the first week of this year, compared to the abominable 2020. The COVID-19 pandemic has touched all financial markets and the mighty dollar felt the impact of it more than any other main currency. From my last article on March 12 2020 DXY lost over 8%. However, this move lower was expected from the technical perspective...

Antonio_trader

Price now consolidating at the 200SMA, waiting for the impulse lower to sell more, targeting lower areas. No major data today for either of these currencies. Please support the idea and share your thoughts on EURUSD! Good Luck and Stay Healthy!

Antonio_trader

Amazon had an amazing run during 2020 as people switched to working from home relying more and more on delivery of goods. After reaching almost $3600 level, AMZN stock pulled back slightly and has now formed a symmetrical triangle on the daily chart. A break to the upside is a good opportunity to buy more, there is also a good resistance zone for more...

Antonio_trader

JPY is losing strength, now price action shows a daily double top pattern with RSI divergence. Potential to trade the break of the neckline and 50SMA to target 115. Please support the Idea and share your thoughts on CHFJPY! Good Luck and Stay Healthy!

Antonio_trader Updated 

Price confirmed the downtrend line and now gearing up for the break. Waiting for the impulsive break of the current resistance on the 15 min chart ( see below ). Once broken we have target levels open at 15.70 and then 16. Please support the idea and share your thoughts on USDZAR! Good Luck and Stay Healthy!

Antonio_trader

CADJPY at a serious level here. Testing the downtrend line again, the price seems to consolidate for now. After oil spike due to Saudi's announcement, there is a high probability of a break to the upside. A break through resistance zone and trendline would signal a buy. Please support the idea and share your thoughts on CADJPY! Good Luck and Stay Healthy!

Antonio_trader Updated 

US oil saw a major boost after a surprise announcement from Saudi Arabia to cut production. Followed by a boost at the end of last year due to expectation of vaccine for COVID-19 to open economies and increase demand. While the outlook for oil remains unknown, OPEC+ countries show the desire for higher prices even at the cost of losing production. On the technical...

Antonio_trader

4-hour chart shows a test of the uptrend line, confirmed with multiple touches. RSI shows price being exhausted. We could see the start of the reverse pattern forming here. A break of the trend line and close below the 0.77 and 50SMA could signal a sell, depending on how much confirmation is required. On the fundamental side, other FX charts show USD potentially...

Antonio_trader

Price of gold formed a falling channel with the strong support of 50SMA and confirmed broken level back from 2011. With the expectation of Biden to take charge soon, gold is waiting for further direction. A retest of the support zone provides an opportunity to trade the bounce if the reverse pattern emerges on smaller time frames. Please support the idea and...

Antonio_trader

This year has seen a massive resurgence of crypto optimists. The 3rd halving that happened in May propelled investors into the market and the COVID-19 pandemic trashing the economies only added more credit to crypto currencies as an alternative investment to FX. The end of the year became similar to 2017 scenario as everyone jumped on the bullish train. The...

Antonio_trader

Technical view: After breaking the downtrend line, price action stumbled at 1.20 and retested the line. Now price in a range between 1.16 and 1.20. A break of 1.20 would signal a continuation of the uptrend after the break. Next target level would be 1.24 area. Overall the chart suggests a higher probability to the upside. Fundamental view: With US election...

Antonio_trader

Price started to converge in an ascending triangle pattern. The pressure seems to be building to break to the upside. Need a solid break through resistance to target higher levels. While markets are a bit wobbly due top earnings season, a break higher is a good signal to buy more. Please support the idea and share your thoughts on UBER! Good LUck and Stay Healthy!

Antonio_trader

Price formed a rising channel. With recent wobbly action in the stock market during this earnings season, there is potential for a sell. Wating for the price to drop below the middle channel line for the first trade and main confirmation is on the break of the channel lower line. If the price gets back above 0.67, we could see a buy to the highs again. Please...

Antonio_trader

The daily chart shows divergence and a potential formation of the double top pattern. Currently, the price is at a key level near pre-COVID highs and 50SMA. A break and close lower would open target levels near the neckline of the pattern. On the fundamental side, continuing worsening conditions and talks of the tough winter ahead as the virus cases spike due to...

Antonio_trader

Cable looks like an inverse H&S pattern with RSI divergence. Waiting for the signal, the break of the neckline and 200SMA. Target 1.32 MPO level. Stop below shoulder or tighter for aggressive traders on smaller time frames. Please support the idea and share your thoughts on GBPUSD! Good Luck and Stay Healthy!

Antonio_trader

Price retesting broken resistance and 200SMA. It is a good level for a short with great risk-reward. Target 1 at 1.16, the previous low. The best option is to find a reverse pattern at 200SMA on the smaller time frame. If price breaks and closes above 200SMA, then the short option could be gone. So far, we are seeing USD starting to get messy with upcoming...

Antonio_trader

The channel is finally broken after many days of range. Now as the USD picked on the sell-off in tech stocks, price broke the technical level. Expected target is at 1.17 before they initiate the stock buyback. So far fundamentals dictate the game, so it is difficult to rely on technicals, but the risk-reward is offering a good probability. Please support the idea...

Antonio_trader

After a massive sell-off and the broken trend line, we saw the biggest lunge in cable since March this year, as the tech stocks plunged and USD grew. Now price at 1.29 level, RSI very oversold. Here we are waiting for a pattern to show more technical direction. The reverse pattern for a buy and a plunge below 1.29 to sell more. While the situation in the UK...