TKProphet

TKProphet

FX:USDJPY Preference: We have reached a critical level on the Daily. If the bears begin to lose momentum, we should consider a few support levels. The 50, and the 61.8 on the Fib are micro-structural levels, and there is a good chance of a retest. Monitor price action at this level to see if the bull run will continue, or if the bears will take over....

TKProphet

FX:USDCHF Preference: USDCHF has been in an uptrend since the end of December. Towards the middle of February, price started to consolidate. In that process, a break in the upward trendline formed a double bottom on the daily, resulting in a continuation of the uptrend. Price has broken above the high, clearing the 61.8 level on the Fib. If price holds at this...

TKProphet

FX:GBPUSD GBPUSD has been in a steady downtrend since March 8th. The pattern that started this trend reversal is a double top at the highs. After the formation of the double top, we've had pretty healthy price movement during the price decline. With the retest of the previously broken structural level of support, we could see a fall to the 78.6 of the 88. on...

TKProphet

FX:EURUSD Preference: After testing a gap on the daily EURUSD responded with a strong downtrend. At the 23.6 price created a short pullback that turned out to be a bear flag to continue the downtrend. If price fails to break above the 23.6 there is a good chance the downtrend will resume to retest the lows. Alternative Scenario: We need to see price respect...

TKProphet

OANDA:US30USD On Thursday, the US30 index experienced a sudden surge in value, reaching a new high. However, the market quickly reacted, and the index dropped down to retest a crucial support level on the 4-hour chart. This support level represents a significant structural break, and its successful retest could provide an indication of the market's direction....

TKProphet

FX:GBPCAD On the daily timeframe, GBPCAD has recently broken out of its previous trading range, which may indicate that its uptrend will continue. The most recent decline to 1.72200 is a retest of that daily level, which could potentially lead to an impressive upward move if the price manages to hold at this level. This would allow the bulls to regain control...

TKProphet

FX:AUDJPY AUDJPY has been moving sideways within range on the 4-hour time frame over the past few days. The most recent upward movement reached a double top before being met with resistance, causing the price to fall and test the 38.2 FIB level. This level is a significant structural support level as all previous price rejections have occurred at this point. If...

TKProphet

FX:GBPJPY If the price successfully manages to break above the 38.2 level on the Fibonacci chart, it could indicate a potential bullish trend in the market. In that case, we may witness a retest of the 61.8 level or even a break above the previous highs. Furthermore, the break of our downward trendline suggests that the market could be shifting towards a more...

TKProphet

FX:USDJPY Preference: Looks like we'll have a solid push for the previously broken structural level at 148.668. If this occurs, we could look at the formation of a bear flag. After retesting the 23.6 level on the Fib. If the price rejects at this level, we could see a break of the upward channel, pushing the price to the downside. Alternative Scenario: Price...

TKProphet

FX:USDJPY Preference: Throughout most of the week, this particular pair of assets exhibited a bullish trend, with its movement closely following our previously established upward trend line. Despite this, the current momentum of the market indicates that the bears are still in control. However, there exists a possibility that the price may revisit the 148.549...

TKProphet

FX:GBPJPY Preference: The GBPJPY currency pair has created a micro-structural level of support at the price point of 188.021. The price has been following a downward trend, with a false breakout above the .236 level on the Fibonacci chart. This indicates that the price may continue to fall. However, if the price manages to break above the trendline and the...

TKProphet

FX:EURJPY Preference: After analyzing the price movement on the 2-hour time frame, it appears that the market is showing signs of a possible bearish continuation. The downward trendline has been respected by the price action, indicating that the momentum remains on the bear's side. Furthermore, the most recent rejection has resulted in the formation of a double...

TKProphet

FX:AUDJPY Preference: After a brief bullish trend, this particular currency pair experienced a sudden and sharp downward movement, which was halted at the level of 96.900. However, the price was unable to sustain this rebound and eventually pulled back, retracing to the .50 Fibonacci level. This retracement resulted in the formation of a potential double-top...

TKProphet

FX:USDJPY We have a strong, impulsive move to the downside on this pair and the bears still have the momentum. If price closes beneath the .382 on the FIb we could see a continuation of this trend until the .50 Fib is reached. We have a few rejections at the highs so there is a good chance that we may see a retest this week. We could also see a rejection at...

TKProphet

FX:EURCAD We had a steady uptrend on the 2-hour time frame until we reached the 1.47800 level creating a double top. From that point price reacted with a hard rejection, pushing price to retest the .382 level on the Fib. Price held at that level created a micro support level rejecting again to retest the highs. Once the 2-hour double top was retested price was...

TKProphet

FX:GBPUSD GBPUSD seems to be respecting the upward trend line and the 20-day EMA. Liquidity has also formed above and below the current price level. If the price fails to make a higher high upon retesting the double top on the 30-minute time frame, price retesting the trending before continuing the uptrend is possible. We could also see a break above the...

TKProphet

FX:EURUSD Last week, EURUSD made a strong, impulsive move, pushing the price to the .618 Fib. Almost Immediately, a hard rejection occurred at that level, creating a double top on the 1-hour time frame that closed underneath the .618. From here, if the momentum remains on the bears' side, we could see a pullback to the .382 level on the Fib. Regarding an entry,...

TKProphet

OANDA:NAS100USD This is an exciting moment for the Indices, as the price has shown some interesting patterns. Initially, a double top was formed, which resulted in a decline in price. The price then fell to test the 38.2 level on the Fibonacci retracement, following which an impulsive bullish move occurred, pushing the price to retest the previous highs....