Analysis:

This week we are going analyze NZDUSD pair.  The long-term trend on this pair is bearish, if you look from the left side, prices have been trending downwards for a sequence of months since last year. From the chart, prices of the pair bottomed and started trending upwards. Prices have been currently consolidating in the form of a symmetrical triangle as drawn on the charts. On the lower trend line, we find that an indecision candle formed, in the shape of a pinbar. This indicates market indecision between buyers and sellers at a significant near-term support level.

Summary:

With the formation of a pinbar, we will be watching for chart patterns and candlestick formation for confirmation signals in order to pick a bias on the pair. With the formation of the symmetrical triangle, and based on the price level of the near-term support level, we will hold on for the prices to guide us on whether will be going long or short on the pair. We anticipate a break-out on this pair.

USDJPY Currency Pair 4th – 8th Feb, 2019: Today we are going to look at the USDJPY pair and we are going to show analysis on a different timeframe, the Monthly. Remember in our price action course we emphasize the TOP DOWN APPROACH when analyzing the market. If we spot candlestick formations in the monthly, this provide a higher probability trade setup than the lower timeframe.

Now we may notice the main trend is up and the currency has been trapped in consolidation in form of a symmetrical triangle.

The pair has recently hit a zone of a support and we a monthly pin bar forming in that zone.

Summary

Will the bullish trend continue? Which direction will the pair break out of the consolidation? We will keep a keen eye on this pair amid confirmation of the direction this pair will head. As always we wait for the price to guide us on the investor sentiment.

ANALYSIS

The pair has been consolidating in a descending channel pattern. We see that the price has been making lower highs and we see a weakness in buyers. We see an aggressive move to the downside and the price is on the floor of the descending channel.

Will the sellers be strong enough to push the prices further down and or will this floor prevent further downside? I hope you note the candlestick formations highlighted in the green boxes. The price is talking but are you listening?

Our bias on this pair is neutral. We will wait to see how the price will react at this zone of support. Will the buyers ease the sellers’ pressure? As you know how we do it on FourthStreet Consultants we always let the price guide us on where the market is headed.

Analysis:

This pair has been on a clear uptrend. This pair has been trapped in broadening tops chart pattern and the price has attempted to break the channel but the bulls could not keep up with the momentum. We see the prices soon closed inside the pattern which shows the importance of waiting for candle to close.

This is a perfect example of how the buyers are trapped in the fake breakout.

The sellers have stepped in they are pushing the prices down the bottom of the channel.

Summary:

Our bias for this pair is bullish although we need to see a clear breakout on the channel to hint us that the investor sentiment has changed. The price will guide us on our position as the prices approach the near term support whether the bullish trend will continue or the seller will prevail.

Weekly Analysis

Hello guys,

This week we’ll be looking at the GBPJPY pair. We see that the pair has been on a downtrend for the most part. The main trend is bearish. Prices found a bottom and made some retracement. Then we see prices trading within a descending channel. At the most recent bottom of the descending channel, we see a hammer, signaling that there’s a high probability markets will reverse. They actually did reverse. Now at this point we have to wait for a clear breakout of the descending channel in order to have a clear signal of where the market will be headed.

Summary

Our bias is still bearish. The bulls have made a strong comeback by rejecting the prices moving lower and the confirmation by the bullish weeks.

A breakout outside the descending channel may show that the investors sentiment has changed and with the political drama of the Brexit we need to be careful trading this pair.

FX MARKET ANALYSIS NZDUSD NZDUSD 17th – 21ST Dec, 2018 📈📊💰

The kiwi has been on a losing streak and this pair has been on a significant downtrend. We see a break of the support and the price has come back to retest the price. The doji forms followed by the bears who have dominated the market. Are we going to see a continuation? We will let the price give us more light in the behavior of this pair in the forthcoming days.