FinancialGamblR

FinancialGamblR

0.6922 is a key level I'm watching right now. CADCHF has been in a massive range since December 2022. Since then, price has failed to breach new lows. Our lower levels are moving higher and higher, which is a good indication that there is very little compelling selling pressure. As price testing the 0.6922 level, a strong breach above this level will be an...

FinancialGamblR

Price sold off and bottomed out in December of last year. We're now seeing a reversal and a relative low being held supported. 1.088 is a key level I'm watching. If price is able to hold above this level, I see strong upside potential.

FinancialGamblR

I'm currently eyeing a WTI breakout above the 82 level. As price teased around this level, we can see that selling pressure is levelling off. January 18th was a relative low and January 25th was another relative low. But January 25th was a higher low, which is another indication that selling strength is not as strong as before.

FinancialGamblR Updated 

I believe there's some upside potential to NZDUSD. Although the DXY has leveled off, indicating that the US dollar has finished selling off, NZD remains rather bullish. As long as it holds above the daily level at 0.64705, I believe there's strong upside potential.

FinancialGamblR

I think the long potential on GBPUSD is quite strong. The DXY has been trending downwards for the past couple of weeks. This was contributed by similar patterns across all major pairs pegged against the US dollar. However, 1.2242 is a daily level that GBPUSD has breached. In my opinion, this pair has a lot more upside potential to trend higher.

FinancialGamblR

Over on the daily timeframe, price tested the 104.615 support level. Price hit this level and then stabilized. However, this was short lived. As price is breaching below the 104.615 daily level, I am expecting further downside ahead.

FinancialGamblR

The 1.3677 was a key level I was watching. Now that price broke below this level, further downside is likely, especially when price retraced back to this level and failed to trade above it. It's also a good idea to watch the broader US dollar index to monitor strength.

FinancialGamblR

After price failed to make a new lower low this morning at 4 AM, the downtrend appears to be coming to an end. Now that price breached the neckline and sustained the breakout, I am anticipating further upside for the next few days.

FinancialGamblR

I'm monitoring this pair for now for a few key reasons: US dollar index is now bearish as it fails to make a new higher high. The lower high has peaked. On the daily timeframe, there's an engulfing bearish bar after a strong rally to the upside. This indicates that buying volume has thinned out. I'm watching for price to break through a floor for further...

FinancialGamblR

This pair has been whipsawing between two extremes since early 2021. Most recently, we're seeing a clean breakout above the 0.86785 level. We're anticipating that price will hold above this upper range boundary and continue trending higher. Of course, this breakout will be invalidated if price crosses back below this level. Unless there is some kind of...

FinancialGamblR

On September 1st, gold touched the previous low at 1,692.50. Price approached this level again on September 7th and failed to breach significantly lower. The strong reaction represented by the large bullish bar is a sign that there is buying pressure. Demand is potentially there. I think there will be a clearer indication of this once price breaches above the...

FinancialGamblR

Standard neckline breakout trade. This is on the intraday level so I'm not looking to ride out a big move. Not really a scalp, but more so to capitalize on the short term momentum.

FinancialGamblR

Looking at the daily timeframe, AUDNZD failed to breach new highs on July 27. As price traded lower, it settled in a range, with the lower boundary being 1.10365. Now that price is breaching below this level, I am expecting downside momentum to pick up.

FinancialGamblR Updated 

Over on the daily level, gold touched the 1,805.85 level. This level is the previous downside breakout. Actively monitoring this security as I think there's downside potential if price fails to breach above this daily level. There's also confluence with the hourly timeframe. Will be posting an H1 chart below.

FinancialGamblR Updated 

There's confluence across two timeframes. The downside breakout on the hourly timeframe can also be observed on the daily timeframe as well. A key level is being breached as we speak. Downside to be expected as long as price holds below.

FinancialGamblR

Gold broke above a critical level. The 1,739.90 was a level where price was held resisted. Now that price breached this level, there's a strong chance that we'll be seeing further upside. However, I am watching gold closely as it will likely make a slight retrace. The key to look for is whether or not price is able to retrace and hold above the 1,739.90 level.

FinancialGamblR

More specifically, NZDCAD is currently in the process of breaking above the 0.80575 key daily level. The odds of returning back into a range are low. After making a higher low on July 27th, traders don't appear to be very indecisive right now. I'm expecting strong further upside if this pair successfully makes a breach above this level and holds.

FinancialGamblR Updated 

While I normally try to capitalize on breakouts, I'm actually anticipating this one to fail. Price breached above the 0.6675 level and failed to accelerate higher. Furthermore, I don't consider this a strong breakout as price stalled by the painting of overlapping bars. On a final note, the daily timeframe does not show any indication of a structural move. While...