Buyers are in charge of the market on the daily timeframe, however the MACD has printed a lower high when price has printed a higher high.
This is a potential sign of the buyers losing their strength and we may see some selling come in.
If you agree with the analysis, look for opportunities to trade that meet your own strategy rules and always use good risk management.
Last week, we saw price close at weekly resistance (resistance from October 2024).
We may see a similar reaction as we move into a new trading week.
The H1 chart could give us our first clues with an early change of cycle.
If you agree with the analysis, look for opportunities to trade that meet your own strategy rules and always use good risk management.
Zooming out, we can see that price is being dominated by the sellers as price moves within a bearish channel.
The most recent price action is printing in the shape of a triangle which can often be a correction pattern in a trending market.
Look for price to test the top of the triangle and see if it reverses (or we could potentially see a false break).
Then...
We can see clear daily support and resistance levels at 2.0550 and 2.1000 respectively.
Inside of this range we can see that price has broken below another level of support at 2.0800
If you agree with the analysis, look for pullbacks and sell setups that meet your strategy rules.
Maybe a final target of 2.0550 could be an option?
Always trade with a proven,...
USD/CAD H4
Momentum is to the downside on the 4 hour chart.
However, with higher lows on the MACD, look for price to pullback to the trendline in the new trading week and potentially to break above.
Always trade with a tested and profitable strategy alongside good risk management.
The price of Gold against the US Dollar is bullish on the bigger time frame.
Diving into the 8 hour chart, we see that price was correcting in the form of a triangle with a breakout in the early part of this month.
With price retesting the top of the triangle, we may see a rejection and further move to the upside. Watch out for a false break though.
This is an...
Price found a bottom around mid May and now printing higher highs and lows.
Whilst price is above the trendline, the sentiment is bullish with a possible target of 1.1530 which was previous resistance in April.
This is an idea of what may happen. Always trade with a profitable strategy and good risk management.
With 3 previous rejections of $32.80 over the back end of May, we saw a glimpse of a 4th at the close of play last Friday.
There is a potential for buys if you agree with this analysis and it meets your strategy rules.
GBP/JPY daily price action has been moving in a descending channel since November 2024.
This month, we have seen price enter the 196.000 zone at the top of the channel. What's also noticeable is the double rejection that has printed.
Here, it's possible that we could see a break down in price and a change of cycle IF we have reached a top again.
However, if we...
The downtrend which started earlier this month came to an end last week after a low at 103.008
Since then, we have seen higher highs and higher lows as the buyers come into the market.
Look for pullbacks and buy setups that meet your strategy rules if you agree with this analysis.
Price reached H4 resistance at the close of last weeks trading.
Now it's maybe time to sit out of any new trades until the market shows its hand.
Rejection and sell setup or breakout and buy setup?
Always trade with a profitable strategy and good risk management.
Since price made a high of circa 1.8550 last month, there has been a steady decline for EUR/AUD.
The most recent price action has been corrective in nature, and on Friday we saw a break and close below the counter trendline with the penultimate H4 candle of the day forming the first close and the last H4 candle forming a lower low and lower close.
This may...
XAG/USD found strong buying at $29.00
At $33.50 we saw price exhaustion and a correction start to form.
Look for price to break to the upside and give a buy signal which meets your strategy rules.
This is an idea of what may happen.
Always trade with a profitable strategy and good risk management.
Price is moving in a daily uptrend and has produced a bullish closed candle at the trendline.
This may be the start of another bullish impulse.
Look for buy setups that meet your trading rules if you agree.
This is an idea of what may happen.
Always trade with a profitable strategy and good risk management.
Since entering weekly support at 140.00 in April, we have seen a steady series of higher highs and lows (buyers in charge).
The MACD suggests that the bullish momentum is still strong with the peaks also making higher highs.
Price is approaching the current trendline and we may see buying resume again soon.
This is an idea of what may happen.
Always trade with...
Price has broken out of structure and is currently retesting previous resistance (the top of the structure).
Look for bullish changes in cycle on the smaller time frame if interested in longs.
A daily close back within structure would most indicate a false break.
Always trade with a profitable strategy and good risk management.
Price has printed multiple rejections of the 0.6000 zone over April and May 2025 whilst at the same time finding support at 0.5900.
Finally the market has seen a close below 0.5900 after printing a bearish engulfing candle.
We may see a pullback and retest of 0.5900 and a further move lower. However if we close above 0.5900 then we have likely to have seen a...
Price is moving within a triangle with support having recently been tested and rejected.
We may now see buyers take price higher to test the top of the structure again.
At that point look for a rejection or breakout.
This is a IDEA of what may happen. You should always trade with a profitable strategy and good risk management.
