Analysis As Of 18th March 2018
Hi everyone!!!
Having a view of the chart bellow, a well captured FIBONACCI BOTTOM chart pattern, completed it's formation as last week trading ends bullish.
This leads to large change in trend from bearish to bullish which started from 2016 high at 1.4689 level as a result of bearish secondary move. And finally end it's bear move at last week trading as the currency breakout 1.2916 level ( that should be two years of bearish trend interval).
The chart pattern starts it's formation at 2017 low 1.2061 level ( Green cycle) followed by a strong reaction rally that lead the currency to 1.2916 level ( which stand as breakout line) the bear tried to continue it's primary course but fails to close below 1.2061 level and formed a higher low at 1.2249 level (Green cycle) this followed by another strong reaction really which leads to change in trend as 1.2916 was bridged (breakout line)
After some sort of correction the currency is expected to see 1.3455 level in few weeks or months to come.
RISK DISCLAIMER
RISK DISCLAIMER
Analysis As Of 3rd February 2018
The weekly chart below shows a well defined higher low (green box) at 1.2310 zone.Which stands as a strong support zone from the bearish SECONDARY trend that begins last year April 2017.The USD/CAD may see some range bound within 1.231 to 1.2858 zone.
NOTE: Any break above 1.2858 zone will change this currency bearish SECONDARY trend that start from April 3rd 2017 to new bullish trend (Primary bull trend begins).
RISK DISCLAIMER
LAST YEAR ANALYSIS 2017
Analysis As Of 27th November
The chart below shows a large inside bar spotted on gbp/usd weekly chart (two red cycles) for good three weeks of trading. finally last week trading ends above the mother high (green cycle) of the pattern which indicate bullish continuation for the currency.
This may see the currency around 1.3444 in few weeks or months to come. Breaking and closing above 1.3444 zone will see gbp/usd at 1.3601 level for it's full pattern target.
Risk Disclaimer
Risk Disclaimer
The chart below indicate a well defined bear trap spotted on eur/usd (red
cycle) which falsely close below 1.1824 zone after four weeks of
trading below this zone last week price close above 1.1824 zone which
was making Resistance (Green cycle).
The confirmation of last week indicate bear trap and this may see the eur/usd around 1.2047 zone in few weeks or months to come.
RISK DISCLAIMER
The weekly chart below usd/cad chart shows a strong resistance zone spotted at 1.2858. Initially the first and second candle that broke the resistance fails to close above it and this result to a defined false breakout.
Price was unable to close above 1.2858 zone and below 1.2665 level (red cycle) which indicate a strong side ways trading. A break below 1.2665 will indicate strong sell off while a break above 1.2858 one will indicate strong bull move continuation.
RISK DISCLAIMER
Analysis As Of 29th October
Hello everyone, good sell setup surface at USD/CAD on weekly chart which will be aiming at +700pips in time to come!!!!
As of April 30th 2017, the USD/CAD begins it's bearish move after some large reaction rally. the currency fell till 3rd September 2017. The currency begin to see some strenght and this result to some reaction rally( bull move) for two months hitting a strong resistance zone which stands as a major zone at 1.2858 level.
A false move was spotted at the major zone (1.2858) as price break pass zone but could not close above zone. Which result to a well defined BULL TRAP ( false breakout) this may see the USD/CD around 1.2005 in few weeks or months to come
Analysis As Of 23rd October
In-line with our previous analytical post on Gbp/usd sell is still intact but the currency may some rage bound within this two major levels. 1.3337 - 1.3074 spotted at weekly chart.
NOTE: Don't forget is advisable not to anticipate breakout!!!
Analysis AS OF 10th October
Hello everyone below is a well defined FALSE BREAKOUT that was notice on GBP/USD three(3) weeks ago and finally completed it's formation last week as price broke below key support at 1.3203 level.Breaking below such zone qualifies the pattern bearish and this may see the GBP/USD in all time lows to 1.2815 level!!
Analysis as of 17th September
looking at the below price chart, the GBP/USD formed a well BULLISH ROUNDED BOTTOM.Creating it's first reaction high at September 4th 2016 (1.3444 well seen in the chart below).
price fell for the rest of the year and find support at 1.1986 after some sort of some range bound. the market finally begin it's advance at January 15th with a huge bullish candle.
Price continue to advance for the next six months which leads to the breakout of the first reaction high at 1.3444. This leads to a well defined BULLISH ROUNDED BOTTOM as a result of the breakout.
After some sort of correction the GBP/USD may see bullish advance to 1.4902 area in few weeks or months to come.
Analysis as of 4th September
Hello everyone looking at the chart below the Eur/Usd formed a well bearish candle stick at a clear false breakout zone at 1.2047 which stands as a major zone. As a result of the described signal the Eur/usd may see some bearish move to 1.1229 zone in the next few weeks or months to come.
Analysis as of 20th August
Aud/Usd which is seen in the chart below formed a well BULLISH FA KEY CONTINUATION PATTERN at 0.7834 level which stands as a major resistance. This major resistance level was broken to the upside few weeks ago and price letter re-trace back to 0.7834 area which formed a well bullish fakey continuation pattern.As result of the described analysis, the Aud will see more bullish days ahead or in few weeks to come projecting 0.8323 level as price target.
Note: Technical analysis is an act form and less science. Price projection may fall short or over shoot above it's forecaste price. So personal or other technical tools should be imply as well for price projection
Analysis as of 30th July ------Analysis still in progress
Looking the below EUR/USD chart, After the breakout of ROUNDED BOTTOM last monththe currency formed a well bearish pin bar last week at a strong resistance zone at 1.1874 level.
This may see the currency at 1.1092 in few weeks or months to come.
Looking at the chart below the USD/CAD formed a well BEAR TRAP PATTERN at 1.2460. As a result of price closing below 1.2460 level two weeks ago. The opening of next week came up with a bull candle closing back above 1.2460 which confirm the bear trap pattern. This will see the currency at 1.2771 in few weeks or months to come.
As seen in the chart below the GBP/USD formed a well FALSE BREAK SIGNAL
After a long Intermediate term move stated from January low 1.1986 the pounds rallied 35% and formed a new high at 1.3253 level. seeing at the chart price broke pass above the level 1.3253 and at the end of the weekly chart trading session, the currency fell heavily closing back below 1.3253 level (black arrow). As a result of the described analysis, the pounds will see 10.2% bearish retracement of January rally (35%) to 1.2927 level.
As price touches 1.2927 level kindly click on Intermediate Analysis for further update..
Happy trading!!!!!
Previous Analysis
EURUSD: eur/usd may fail to continue up trend
Looking from the weekly chart above trend line was marked from 2015 high at 1.1712 to 2016 high 1.1615 which was extended to the future at act as resistance or support level.
After two months up trend, price tested the trend line level and formed a well inside bar. Breakout occurred last week to the upside for bullish continuation move.
unfortunately this week candle disqualify the inside bar breakout as continuation but this may lead false breakout pattern with a close back below 1.11393 level at the end of the week.
GPBUSD: gbp/usd up move continuation
The gbp/usd broke above major zone 1.2865 and formed a well inside bar. Breakout occurred last week at the high of the mother bar to continue it's up move gbp/usd may see 75% up move to 1.3352 area this week.
AUDUSD: may see more up days this week
The weekly chart above has two years trend lines connecting April 2016 high (0.7834) and October high (0.7777) which was extended to the future to act as resistance or support level.
Currently price tested the trend line point for the fourth time and formed a well inside bar which result to last week breakout to the upside. As result of the breakout the AUD/USD may see more up days this week to 0.786 area.
