TKProphet

TKProphet

FX:AUDCAD Preference: The AUDCAD currency pair exhibited a significant structure at a particular zone, demonstrating support and resistance above and below the price. Upon analyzing the 4-hour time frame, it was observed that the price broke this level and was rejected after a retest. Although an impulsive move occurred after the retest, the momentum is still...

TKProphet

TVC:DXY The US dollar experienced a significant surge in its exchange rate, marking its most substantial rally in ten months. The sudden rise can be attributed to doubts among traders regarding the extent of the Federal Reserve rate cuts that had been previously factored into the market. Furthermore, the current geopolitical climate has heightened demand for...

TKProphet

FX:EURUSD The minutes of the ECB's mid-December meeting cautioned against complacency as persistent price pressures could hinder achieving the 2% inflation target before 2026. The ECB is concerned about higher wages, as labour unions may demand higher wages in 2024 after seeing real wages decline in 2022 and 2023. This could lead to higher labour costs, which...

TKProphet

FX:USDCAD According to retail trader data, 48.57% of traders are currently net-long on USD/CAD. The ratio of traders short to long is at 1.06 to 1, indicating a higher number of short traders. Interestingly, traders have been net-short since December 13, when USD/CAD was trading near 1.35. Since then, the price has dropped by 0.14%. As of now, the number of...

TKProphet

FX:EURUSD Although the U.S. central bank is likely to reduce borrowing costs later this year, the deep rate cuts priced in by market participants seem extreme for an economy displaying remarkable resilience and still experiencing above-target and sticky inflation. Given current conditions, it would not be surprising to see traders scale back dovish wagers soon,...

TKProphet

FX:EURUSD This pair has been consolidating for a few days after breaking the uptrend line. From here it looks like all the momentum is to the downside. Price breaking and closing below the lows would be confirmation. We could also see a rejection in this area to push price towards the highs.

TKProphet

FX:USDCAD Price did a great job of respecting the downward trend line. All of the rejections at the lows created liquidity, making the continuation of the downtrend more interesting. If the price fails to break above this zone, there is a great chance that the low could be retested if not broken. If the price manages to break above our trend line, I'll wait...

TKProphet

FX:USDJPY Price has pulled back to retest the previous resistance level. If the price holds at this zone, this could prove to be valid support, and the highs will be retested if not broken. This pullback also retested the upward trendline. Let's see how the price responds. If this trendline does not hold, we could see a beginning of the downtrend for USDJPY.

TKProphet

FX:USDJPY This pair has been consolidating on the 4-hour time frame. If we get a rejection at this level, we could see a retest of resistance before a continuation of the downtrend. Price could also break the lows and continue the downtrend from here.

TKProphet

FX:EURUSD Top of the year traders. Looking at this area price broke below structure. If the price fails to break above this zone, closing above it. Then price will continue the downtrend. This level could also prove to be a strong level of support, but so far, the momentum is on the bear's side.

TKProphet

FX:GBPCAD We have reached a significant level of structure with this pair. If price does not break above this level, we could see a continuation in the downtrend to break the lows. Depending on how strong the bullish momentum is, there is a chance that this area could print a bull flag as well.

TKProphet

FX:AUDJPY Our original trade played out well, hitting our first target area. With this pull, I am looking to add to this position before the price continues the uptrend. Price broke structure and we are retesting it with this move. If price fails to create a lower low, the highs will be retested. If we break above the key area. We could see a continuation of...

TKProphet

OANDA:NAS100USD We could see a short-term change in momentum in this area after Santa's rally. Price traveled in a really nice channel on it's way to break the highs, and it is now consolidating on the 1 hour. IF pricre closes underneath support the 50 EMA on the 30-minute time frame there is a chance that the lows will be retested. We could also see a...

TKProphet

FX:GBPUSD GBPUSD seems to be creating bull flag on the 1 hour time frame. If price manages to break above our trendline we could see a retest of the highs on the daily If the price fails to create a higher high and breaks below support, we'll see a continuation of the downtrend.

TKProphet

FX:EURUSD Looking at the monthly time frame EURUSD is in a steady downtrend. Price created range between 1.24000 and 1.078566, before falling beneath it to create a lower low. We've been consolidating in this retest zone since Jan 23, this could be a big moment for EURUSD. If price breaks above the 50 EMA on the monthly, there is a good chance that we'll see...

TKProphet

FX:GBPJPY GBPJPY created two rejections at the 0.5 fib before giving us a pullback. With the multiple rejections at the lows, this could be a micro level of support. Let's see if the uptrend will continue from here. If price fails to maintain the uptrend, well, wait for a break and retest of support before taking the entry.

TKProphet

FX:EURJPY Price is consolidating on the 1-hour time frame. At this moment price is resting on resistance, if we get a push above there is a good chance that the highs will be retested. If this price fails to break above, I'll wait for a break beneath range to look for the sell setup.

TKProphet

FX:AUDJPY AUDJPY finally broke above the downward trendline. Now, price is pulling back to retest the area where we have a break in structure. If price fails to close below this area, we will see a retest of the highs to capture liquidity. If the uptrend falls shy, there is a big chance that the lows will be broken.