EURJPY

A head and shoulder pattern forming at a resistance level is a sign that bearish prices are in the near future. Furthermore the pattern has broken out and we’ve had a confirmation.

SUMMARY.

Price action will guide us on ideal points to join the potential bear market preferably on  a lower timeframe.


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

An ascending triangle within a long-term downtrend is a potential sign of bear control especially after a breakout on the downside.

SUMMARY.

Caution should be taken on the entry as a retest could happen on lower time frames before price resumes it’s initial course.


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

Within the major downtrend in Crude Oil an ascending wedge formed during the rally and broke out below. This shows a tilt on the sea-saw between buyers and sellers.

SUMMARY.

As usual following a breakout, we ascertain the validity of the breakout and join the bears ideally on a lower 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.

AUDJPY

An uptrend lasting the past 6 months has recently been punctuated by a rising triangle that has had a breakout on the upside that happened last week.

SUMMARY.

Confirmation of the breakout on lower time frames is ideal in joining the trend after the breakout.

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

Looking at the double bottom formed by the recent price action, price rallied in the form of a rising channel slightly past the neckline after making the second bottom. Weeks later the channel broke out on the downside.

SUMMARY.

Ensuing the weekly breakout,we should look to join the trend that is likely to begin on a lower time frame following 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.

NZDUSD

During the last 6 months bulls have had their hands full pushing prices consecutively higher shown by the rising price channel. Eventually their momentum waned off to warrant a breakout on the downside of the channel.

SUMMARY.

As the steam shifts from bulls to bears following the breakout, price action confirmation is key to join the seemingly beginning down trend especially on a lower 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.

NZDCHF

With the  main trend on the long term time frame being a downtrend and  a descending channel appearing after resistance by a trend line. It is safe to say we’re looking at a bearish market.

SUMMARY.

After price action confirmation, you may open lower time frames to time your entries.


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.

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.