MujkanovicFX

MujkanovicFX

Similar to GBP/AUD, the GBP/NZD pair is at an important resistance zone and today's candle already shows increased selling pressure. The pinbar pattern of Friday is a sign that the pair could have difficulties to break above the 2.00 level in a new attempt. The level is also an important psychological resistance. Notice the hidden bearish divergence in the RSI.

MujkanovicFX

These are the types of patterns that send strong reversal signals for a currency pair. Here we have the EUR/NZD pair with an exhausted up-move that made a fake breakout above the 1.7600 level. Today, the price started falling down with large momentum combined with a strong triple bearish RSI divergence. Today's candlestick is also an engulfing candlestick so...

MujkanovicFX

The GBP/AUD pair is forming a strong bearish reversal candlestick pattern near the 61.8% Fib level and a horizontal resistance level. The breakout from Friday looks like a fake breakout which may send the price lower to the 1.81xx level.

MujkanovicFX

The Canadian dollar vs. Japanese yen pair has been trading at a falling trendline resistance for the 7th consecutive day, showing that the pair is having difficulties to break above. The price is also trading near the 61.8% Fib level in an overall downtrend, signaling that the underlying downtrend may soon pick up.

MujkanovicFX

The AUD/CHF pair printed a strong bearish candle today after reaching the upper channel resistance on the daily chart. The reversal point aligns with the 61.8% Fib level, signaling a potential continuation of the underlying downtrend. The RSI is printing a hidden bearish divergence.

MujkanovicFX

The daily chart on Copper shows a strong support around the $2.50 level which lies near the 61.8% Fib level. The price has recently formed a falling channel, with a broke above signaling a potential continuation of the underlying uptrend. The RSI is in a bullish divergence mode.

MujkanovicFX

The EURGBP pattern reached the H&S profit-target measured from the pattern's neckline this morning, as macro-data from the UK came in better than expected. We locked in around 200 pips on this trade. Like our analysis? Please hit the "LIKE" button. Thanks!

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Hi guys, the USDCAD pair is trading inside a rising channel and has reached the lower channel support in today's trade. The level aligns with the 61.8% Fib level, and the RSI is printing a slight hidden bullish divergence (the RSI bottomed before the price.) The 4-hour candle looks like buyers are gaining power again. Follow this pair, it could reveal a buy...

MujkanovicFX

The US dollar strengthened against the euro this week as markets assess the likelihood of an ECB rate cut. We've already locked some profits of the earlier bull-move in our Trading Club and closed the remaining position until the dust in the market settles. Bear in mind that, although the Fed took a dovish stance, there is an important difference between the...

MujkanovicFX

The EURAUD pair formed a nice Head and Shoulders pattern and completed a pullback to the broken neckline. Today's strong bearish candle has reached the lowest level since May 07 and suggests lower prices. The H&S pattern projects a profit target around the 1.5700 level, which aligns with the lower zone of a recent sideways range.

MujkanovicFX

Brent is breaking above a recent high to form a fresh higher high, after the price retraced and found buying pressure at the 61.8% Fib level. A close above $68 sees no significant resistance until the $70 level and above. We're holding our long position since the formation of the double bottom pattern on June 13. Like our analysis? Please hit the "LIKE" button...

MujkanovicFX

The EUR/USD pair is printing an indecisive candlestick after a bull run last week, signaling that market participants are taking a break to assess latest news from the Fed. The USD consolidation phase may not last long as important US reports are scheduled for tomorrow: US retail sales, core retail sales, and Fed's Powell is delivering a speech. The pair will...

MujkanovicFX

Hi traders. We've started a new section in our TradingView profile with daily updates for major pairs, gold, oil, and indices. The GBP/USD pair is trading significantly lower after triggering an H&S pattern - a setup that we shorted in our Trading Club and posted here on TradingView. The previous week, markets dumped the pound on views that the UK economy is...

MujkanovicFX

EURUSD has continued its bull run for the second day, after breaking out of a bullish wedge pattern and reaching near a horizontal support zone. From a technical standpoint, the higher highs on the daily chart suggest that an uptrend is forming. Yesterday's dovish testimony by Fed's Powell put selling pressure on the greenback as markets place a higher...

MujkanovicFX

The EURUSD pair is slowing breaking above a bullish wedge, with the RSI forming a hidden bullish divergence. Daily candles are about to form a bullish Morning Star reversal pattern. The overall trend since May has been up, with a potential fresh higher high to come. The USD strength is clearly losing momentum and markets are still assessing the possibility of...

MujkanovicFX

Hi guys, AUDUSD is forming a promising setup on the daily chart. The price made what looks like a fake breakout with a bearish pinbar candlestick near the 61.8% Fib level. The level also aligns with a horizontal and trendline resistance. The RSI formed a bearish divergence in a pair that is overall in a healthy downtrend. Let's see what today's NFP will give...

MujkanovicFX

Gold formed a double top pattern on the daily chart as the price didn't manage to break above the $1,439 high in this week's attempt. The RSI is forming a slight bearish divergence, which combined with a pinbar (tweezers) candlestick pattern may send the price lower. Please take a second and hit the "LIKE" button to support our work. Thanks!

MujkanovicFX

Hi guys, the EUR/USD pair is completing a correction to the 61.8% Fib level on the daily chart, suggesting that the recently formed uptrend may continue. The price has also formed a bullish wedge pattern with an indecisive candlestick during yesterday's trade and a bullish candle in today's trade. My buy trigger is an upside break of the wedge pattern, with an...