vj20_fx

vj20_fx

A fourth rejection of the zone for this pair as it is overbought once again. Price is due to head back to normality this week dropping to 0.87600. Price did try to head back past the zone within last Fridays price action however failed to break support. It is now testing the zone again. I am waiting for price to break my counter-trend and support zone for...

vj20_fx

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vj20_fx

EURJPY has been in a bearish trend being respectful of support and resistance lines. The 3rd touch of the trend has now arrived and did a very short bearish move followed by a retracements. Price is now consolidating on the trendline showing a few Doji candlesticks. This is also confluent with a major key level more noticeable on the higher timeframes. This is...

vj20_fx

GOLD UPDATE. We have now had 2 weeks resulting in a bearish pinbar confirming downwards momentum is coming. On the 4hr timeframe, we have had a small retracement after a strong bearish move. This retracement made its way back up to the major resistance level and refused to break. Price has now begun the week with strong bearish movement and signals which I am...

vj20_fx

GOLD has been respecting a very strong resistance zone for more than a year. Price even used this zone as a support when price broke through. I have also noticed a downtrend in the market where the wicks of the candlesticks are struggling to break through the trendline. Last week, the candle closed below the trend which shows price still has bearish momentum in...

vj20_fx

Just a quick catch up. On previous analysis, I was neutral about this pair more so swinging to the short side. It has now re-tested my major resistance level multiple times struggling to break through. Price has now formed a pinbar showing strong bearish momentum.

vj20_fx

Watching the EURGBP closely, I have identified a perfect bullish channel that has run through the major trendline and is still making the Higher Highs and Higher Lows. We have now reached a point in the channel where the Higher Low failed to move up but did form a double bottom formation. Price is now going to move back into the channel to carry on the trend it is...

vj20_fx

EURAUD has now reached a major resistance level and has managed to break through. Price has now entered a short consolidation period where price will then break back through the zone because I don’t believe the Euro is that strong. The strong bullish momentum that has happened lately is only due to the weakness of the Australian Dollar. I will be entering this...

vj20_fx

EURGBP has been very respectful of support and resistance lines and I do believe price will have a bullish reaction after breaking through this trendline. However I am not comfortable entering this position as we could see very strong retracements. On this pair, I will wait for price to reach 0.90300 before entering a short position. However, we could see downside...

vj20_fx

GOLD has been respecting the current uptrend creating higher highs and lower highs perfectly. The last higher high created was at a major resistance level so price may struggle to break through to create another higher high. This means we could be seeing the end of the trend and possible downside movement. Price has now formed a counter-trend channel which shows...

vj20_fx

EURUSD is now at a major resistance level as the last time price was at 1.13000 was September 2016. Last week, price tried to retested the zone several times failing to break. NFP data also failed to cause price to break. My outlook however is still overall neutral for this pair as a strong break could happen either way. I am feeling stronger for a downside...

vj20_fx

GBPJPY has been on my watch list since the last break of my weekly resistance at the beginning of May. I have been waiting for a break to the downside however unexpectedly price reached my Monthly resistance. Showing no breakthrough of such a strong resistance shows this pair may possibly still have bearish momentum. Price broke back through my support zone,...

vj20_fx

USDJPY has been in a constant downtrend making the lowers lows and lower highs. Last week, price consolidated in between the major trendline and strong weekly support. I have marked this period with a grey rectangle. I don’t believe price will break through the trend again due to how many times it has been tested. The Yen has also proven to be signalling weak...

vj20_fx

Gold has formed an uptrend since the start of 2017 and I am now simply looking to follow the trend. Gold has been utilising my support and resistant zones lately only breaking out to form the Higher High. The last Lower High formed in the support zone and has now moved quickly to the upside. Last week we had a strong consolidation where Gold was struggling to...

vj20_fx

Following this pair, I can see a major resistance line was broken last week causing it to now become a support. This line has held price in the past very very well as both support and resistance. We could see a retracement back to the support line howwer I believe price is now going to push to my next daily resistance at 1.13400.

vj20_fx

GBPAUD has been in a downtrend since 10/16 however failed to make a lower low on the monthly support which then formed a 'Double Top'. I am waiting for price to break through my counter-trendline to enter a long-term long position. I believe price could reach to my daily resistance due to previous price action utilising it well. I can also see the Aussie pushing...

vj20_fx

This position I am in at the moment has now broken the consolidation period with a bullish engulfing candlestick. I am now waiting for more bullish confirmation to re-enter.

vj20_fx

Price has just made a LH from the Bearish trend where price bounced off the trendline to the pip. This pair has now formed a Doji following a very strong bullish movement which is showing indecision and the momentum weakening. A reversal here is high likely. The W1 TF formed a 'Hanging Man' Candlestick last week indicating bearish momentum could be following....