GBPJPY

We have a trading confluence evidenced by the rising equidistant channel and the symmetrical triangle. Price broke out on the upside of the triangle, emphasizing the fact that we’re still in an uptrend(price is within the ascending channel).

SUMMARY.

Zooming in to a lower time frame for further price action confirmation is ideal and necessary.


Disclaimer: This analysis is for educational and general information only and not advice or a recommendation to trade or invest. Do your own research/analysis and don’t blindly enter trades based on the analysis.

EURJPY

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The long term descending channel broke out two weeks ago and a confirmation happened last week. This is quite some bullish indication from the price action.

SUMMARY.

Price may continue rallying or reverse momentarily for a retest. However, be aware that a retest could happen / could’ve happened on any time frame.


Disclaimer: This analysis is for educational and general information only and not advice or a recommendation to trade or invest. Do your own research/analysis and don’t blindly enter trades based on the analysis.

UKOIL/BRENT OIL

Oil has been on a rally since the historic downtrend during the climax of the pandemic outbreak. Price has recently been on a consolidation within the uptrend in the form of an ascending triangle.

SUMMARY.

Textbook technical analysis suggests that ascending triangles breakout on the upside but we know that is half truth. Patiently wait for the breakout and follow the price.


DISCLAIMER: This analysis is for educational and general information only and not advice or a recommendation to trade or invest. Do your own research/analysis and don’t blindly enter trades based on the analysis.

EURCAD

With price at the neckline of our double bottom and at the same time the resistance of the ascending channel. Our vigilance is called for as to whether price will break out or be resisted back to the support of the triangle.

SUMMARY.

This is an important price confluence area and we will follow price on a breakout or a reversion of price back to the support of the triangle.


DISCLAIMER: This analysis is for educational and general information only and not advice or a recommendation to trade or invest. Do your own research/analysis and don’t blindly enter trades based on the analysis.


USDCAD

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Within this prolonged descending channel we have a bearish engulfing right at the resistance of the channel. This is a potential reversal from the small rally.

SUMMARY.

A bearish indication within a downtrend is trading along the trend. Open lower time frames for further price action confirmation.


Disclaimer: This analysis is for educational and general information only and not advice or a recommendation to trade or invest. Do your own research/analysis and don’t blindly enter trades based on the analysis.

EURNZD

Four months of price moving bearish within a descending channel gives us strong indication of bear control. Price is approaching the upper trend line with indecision candles which is not a good sign of bullish momentum.

SUMMARY.

Watch for reversal candlestick formation at the channel’s resistance to confirm continuation of a down move. However, if price breaks out on the upside which is a likely scenario of channel breakouts, we follow price as usual.


Disclaimer: This analysis is for educational and general information only and not advice or a recommendation to trade or invest. Do your own research/analysis and don’t blindly enter trades based on the analysis.


GBPCHF

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An ascending triangle breaking out below is a good sign for the bears. However, preventing our certainty is the near term support level.

SUMMARY.

Price may rebound and rally back to the triangle at the support level or breakout further below the level and resume it’s downtrend. We continue to monitor the price in order to react accurately.

AUDNZD

Upon resistance from the descending channel, price formed a weekly pin bar followed by a confirmation candle.

SUMMARY.

Bears have strongly begun showing their hand.Time combined with price action will guide us to see how much further their power will be sustained.


Disclaimer: This analysis is for educational and general information only and not advice or a recommendation to trade or invest. Do your own research/analysis and don’t blindly enter trades based on the analysis.

NZDCAD

The double bottom occurrence is a price pattern indicative of bullish momentum upon a breakout on the upside.

SUMMARY.

We patiently wait for price action to guide on whether to follow price after the breakout or rebound downwards upon being resisted at the neckline.


Disclaimer: This analysis is for educational and general information only and not advice or a recommendation to trade or invest. Do your own research/analysis and don’t blindly enter trades based on the analysis.

USDCAD

After a period of consolidation into what we refer to as a symmetrical triangle, price broke out on the downside.

SUMMARY.

This is a clear and good indication of bear power coming into the market. We closely monitor this pair to see how long this price waterfall will last and key areas to join in the move


Disclaimer: This analysis is for educational and general information only and not advice or a recommendation to trade or invest. Do your own research/analysis and don’t blindly enter trades based on the analysis.