IllusiveShroud

IllusiveShroud

EURUSD Strength - RyuxFX Overview After EURUSD broke out of its longer term bearish trend we have seen the current market environment shift to a range, with resistance at around 1.11754 and support levels at around 1.09950. Despite some market manipulation around these areas we have generally seen price respect these two levels, fluctuating between the...

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After a breakout of the bearish structure we are now seeing a switch in market mometum and I am expecting GBPUSD to fall 140 pips to the downside.

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RyuxFX - USOIL Bullish Reversal Oil will see a reverse in market sentiment and make a bullish rally back to retest its reversal. After a bearish push during the de-escalation of US - Iran war tensions, Oil has reached a level of historical weekly and daily support. We can now expect bulls to drive back into the market and push USOIL pack up towards it's last...

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After a breakout from the long term bearish trend on EURUSD we saw a push to the upside and the formation of a double top. We now can see EURUSD retesting the support made at the neckline and I believe we may see somewhat of a reaction to that level as a new resistance.

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After a loss of bullish momentum and a retest of the previous high, USDCHF now looks to make a move to the downside back into the support zone marked out in blue.

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On the 4H chart were seeing that EJ has moved into a ranging market environment. My longterm bias on EJ is bearish and so I am taking a short at the resistance zone for a very low 10 pip risk and high 60 pip reward. At the break of the support EJ can see an even larger drop.

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CADCHF has risen sharply into a very important zone of confluence. This zone has had numerous attempts of a break to the upside and all have failed. In addition to this price is forming a shooting star formation indicating that there may be more selling pressure to come.

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After some buyers relieved the bearish plummet last week price appears to have become exhausted, forming a shooting star formation on the daily. Upon it's break I expect a 100 Pip fall to the downside.

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After price reacted to the highs of the weekly pull back, price action moved into a descending wedge, on the 4H chart. I'm expecting some more continuation before a breakout to the downside as there is huge space for EJ to fall.

IllusiveShroud Updated 

Despite a strong bullish rally from USDCHF, in the past couple of weeks, bulls have not been able to supply a strong enough push to battle the bearish liquidity filled in at the 1.0000 psychological level. Now, after multiple retests of this important level and continuous rejection. Bears will now look to re enter the market and push USDCHF back down to at least a...

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After the indecision shown by the GBPUSD pair bears have managed to push price out of the ranging zone of last week an now the pound is set to freefall back down towards previous lows. This is also paired in conjunction with fundamentals such as the strain of Brexit and the UK's economical situation on the Cable.

IllusiveShroud Updated 

After a strong bullish run through to 0.99800, USDCHF is now testing a key resistance level formed over the past week. Price action shows that the resistance is being rejected and thus I have the bias that there may be some downside momentum due to arrive in USDCHF towards 0.98940. I will be looking to short this pair if price forms a shooting star that is broken...

IllusiveShroud Updated 

GBPAUD was moving in a progressive uptrend on the weekly chart. Price was pushing towards recent resistance levels, forming a double top with the previous highs and so bulls were running out of steam. On the weekly time frame, a support trendline was drawn in order to target where a possible short trade would move towards as I anticipated a bearish pullback...

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After Bears rushed into the market amidst numerous retests of the parity level, USDCHF fell over 100 pips and closed at a resistance that had been a swing low in the bullish leg not long ago. However as bears re enter this week I expect a continued selling pressure and a fall towards the start of the initial leg.

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GBPUSD Fall Back to Previous Resistance Zone Technical Analysis: GBPUSD has had a turbulent fortnight. Rallying up almost 4% in 2-3 days and pushing up to the Daily resistance zone at 1.27850. Now GBPUSD has stagnated its bullish strength and is now consolidating at the resistance level that it has struggled to break. I now believe that bears are coming back...

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EURJPY, a very bearish pair right now has descended longterm, and has recently pulled back from it's bearish trend towards a 3 time tested level of resistance on the Daily chart. I am now looking for a bearish trend continuation and expect EURJPY to plummet downwards in the week.

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A nice NZDCHF range has formed over the past few days, and I am speculating that there will be some continuation of this range with a push to the downside. Price may reject the highs of the resistance zone and look to retest support.

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Taking a look at USOIL on the monthly shows a key level of a support resistance where price is ,moving towards. Price is in an important zone of support and I am now expecting price to retest the long term support trend line before a bullish rally. Or a rally upwards immediately. There's been a nice rejection of the lows on the support zone after a reversal...