Forex Trader DailyA Channel Down was identified at 31-Aug 19:15 GMT. This an emerging pattern and therefore is still in the process of forming. Expect possible bearish price movement towards the support at 1.53254.
Chart date range
19-Aug 03:30 GMT-> 31-Aug 19:45 GMT
Data Interval
15 Minutes
Resistance Levels
(E)
1.55969
Last resistance turning point of Triangle.
(B)
1.535
Last resistance turning point of Channel Down.
Support [...]
NZD/USD 1 hour
Summary
Target Level
0.6908
Target Period
1 hour
Stop Level
0.6964
Analysis
Channel Up identified at 02-Jul 03:00 GMT. This pattern is still in the process of forming. Possible bearish price movement towards the support 0.6908 within the next 1 hour.
Supporting Indicators
RSI above 60.0
Resistance Levels
(B)
0.6964
Last resistance turning point of Channel Up.
Support Levels
(A)
0.6908
Last [...]
The 15-minute chart of the USD/JPY has corrected into the support at the 34 period EMA high which is overlapping with the 91.50 major psychological level. While the upside is relative close with nearby resistance approaching 91.80, if prices can rally higher with a slightly stronger pre-market Dow this short-term swing entry could capitalize on a short [...]
The daily chart of the USD/JPY is sinking towards the 200SMA waiting just below the 91.00 level at 90.85. Currently there is an aggressive buy opportunity setting up as the USD/JPY tests buying support at 91.00 however if the 90.95 level breaks the next support level will be the 200SMA. This would be separate buy entry since [...]
The 15-minute chart of the EUR/USD is in a mark down cycle with the extended weakness of the pair. The 15-minute time frame is an effective way to set up near-term corrections into trend following short sells.
A Fibonacci Retracement of less than 23.6% is a shallow bounce that can be aggressively shorted. Here the bounce is well [...]
The 240-minute or 4-hour USD/JPY has broken lower through the support of th Rising Wedge that formed as prices rallied higher since April 19. The uptrend lost support at the just below the 94.00 big figure at 93.97 and prices rolled over and traded down with the loss of support and shift in sentiment as [...]
Set ups on daily charts often involve large stop loss as well as healthy profit targets due to the daily range of each candle. The mark up cycle on the daily also has the support of a Rising Wedge pattern lining up with the 34 period EMA low. The entry is a swing buy just above the [...]
The 30-minute GBP/USD is trending lower as prices are currently bouncing higher. The overall downtrend or “mark down cycle” set ups a swing short if prices can reach the minor psychological level at 1.5380 or the 34 period EMA low at 1.5388.
The major “00″ overhead will offer near term resistance at between 1.5395 and 1.5405. Watch this area for [...]
The 15-minute USD/JPY is trending lower with the mark down cycle on the short term intrday timeframe. The Channel Down pattern on the 15-minute time frame is a perfect set up to handle the price action of the mid-day doldrums. The resistance of the top downtrend line is coming in with the 34 period EMA [...]
The 15-minute EUR/USD has formed a Channel Down pattern as prices are trending lower in a mark down cycle. The resistance of the Channel is currently holding the EUR/USD in a downtrend and setting up a swing short if prices can bounce — as they recently did already — to the 34 period EMA low [...]