EUR/UDS Goes For 1.1420 Initially

EUR/USD Technical Analysis

  • EUR/USD trend is changing
  • Move up is expected
  • Above 1.1360 stronger move
  • 1.1519 final target

H4 CHART EUR/USD

  1. Swing low
  2. Double top
  3. Bounce zone
  4. Final target

The Eurozone preliminary CPI came out +5.0% vs +4.7% y/y expected. The CPI presents the change in the price of goods and services purchased by consumers. Inflation is important to currency valuation because rising prices lead the central bank to raise interest rates out of respect for their inflation containment mandate. The EUR/USD should bounce from 1.1330 area towards 1.1360. Above 1.1360 stronger momentum should kick in and the next target is 1.1420. The final target is 1.1519. We don’t think we should see 1.1519 without a fundamental driver, in this case next week FED. But the focus is on the move up and 1.1420.

For a look at all of today’s economic events, check out our economic calendar.

Cheers and safe trading,

Nenad

 

GBP/USD Going Up Further if 1.3650 Breaks

 

GBP/USD Technical Analysis

  • GBP/USD is at resistance
  • Continuation above resistance is targeting W H3
  • D H4 needs to hold for bears
  • W H3 could be the target

DAILY CHART GBP/USD

  1. Swing low
  2. Supply zone
  3. Entry zone
  4. Final target

The GBP/USD is bullish now. After a rejection towards 1.3170 zone the price made a bullish move. Bounce from 1.3615 is playing out and the first target has been made 1.3640. For a bullish continuation up, the price needs to break 1.3650 and we should see 1.3688 as the first target. 1.3732 is the final target. The move down happens if 1.3574 breaks. In that case the way towards 1.3510 is open. Watch he levels and trade accordingly.

For a look at all of today’s economic events, check out our economic calendar.

Cheers and safe trading,

Nenad

 

GBP/USD Going Lower as The Trend Line Breaks

GBP/USD Technical Analysis

  • GBP/USD is bearish
  • Close below D L3 is bearish
  • W L3 is support
  • D L5 is the first target

DAILY CHART GBP/USD

  1. Swing low
  2. Swing high
  3. First target
  4. Final target

The GBP/USD is bearish. After the US holiday – Martin Luther King Day we should expect bigger volatility. The trend is to the downside and we should see the move down. A close below the D L4 1.3618 should move the price lower to D L5 camarilla 1.3594. This is the intraday target. However, on an extended move down below the D L5, we should see the W L4 hit which is 1.3553. A move up is not expected unless the trend line breaks to the upside. The pound imminent target is the D L5.

For a look at all of today’s economic events, check out our economic calendar.

Cheers and safe trading,

Nenad

 

EUR/USD Still Going Higher as Bulls Are Targeting 1.1544

EUR/USD Technical Analysis

  • EUR/USD is bullish
  • Bounce above the inside bar is possible
  • Continuation of uptrend above M H4
  • Target is M H5

DAILY CHART EUR/USD

  1. Trend changed to bullish
  2. Inside bar breakout
  3. Target

The EUR/USD is bullish. It’s a US holiday today – Martin Luther King Day so there is less volatility than usual. Stock markets and banks have slightly different holiday schedules in the market as we get things going in the new week. The EUR/USD is moving up and it should continue as the inside bar on the daily is showing a breakout to the upside. We can also spot diverging MAs as the trend is up. The first target is 1468 followed by 1.1517 and 1.1544.

For a look at all of today’s economic events, check out our economic calendar.

Cheers and safe trading,

Nenad

 

USD/JPY Bulls Are Bouncing Off the Price Above Demand

USD/JPY Technical Analysis

  • Breakout above previous inside bar
  • Rejection from support
  • Order block is close
  • M H4 is the possible target

DAILY CHART USD/JPY

  1. Order block
  2. Inside bar
  3. Bounce zone
  4. Target

The USD/JPY has formed a bullish inside bar, or multiple inside bars. The scenario is looking bullish as long as the price holds above 115.00. The NFP made the dollar go lower but it has consolidated since. We should see a move up towards 115.82, 116.38 and 116.55. If 115.00 holds this is the scenario. Break above 115.50 should accelerate the move but momentum is still low. Have in mind that the pair is reacting strongly on fundamental data/news so watch out for any dollar related news in the schedule.

Cheers and safe trading,

Nenad

 

Bitcoin Bulls Are Still Hanging Above Camarilla Pivots

BTC/USD Technical Analysis

  • BTC/USD is supported above 40000
  • If above 88.6 that will be bullish
  • Q H3 is the target
  • Below Q L3/ M L4 bears will gain control

DAILY CHART BTC/USD

  1. Swing point low
  2. Swing point high
  3. Possible bounce zone
  4. Bearish breakout

The BTC/USD is still in a retracement mode. As long as it is kept above 40000, bulls have the chance to bounce. There are multiple swing points which indicate that the market could gain momentum to the upside. A bounce above trend line, M L3 camarilla pivot and 88.6 fib is targeting 49996 followed by 53750. If the market breaks M L4 pivot lower then 32330 is the target.

Cheers and safe trading,

Nenad

 

ETH/USD Still Bullish Above the Order Block

 

ETH/USD Technical Analysis

  • ETH/USD is still in uptrend
  • Continuation expected above the point 3
  • Q H4 is the target
  • Buyers are strong

DAILY CHART ETH/USD

  1. Swing point
  2. Swing low
  3. Order block
  4. Target

If Fed delivers only a few rate hikes, cryptos will rise. At this point we can see that the price is rejecting the order block. The rejection comes around the support level 3667. Bounce should be targeting higher levels around M H3. If the price breaks 4014 then we will see Q H3 4206 and eventually 4728 retest. Wait for the market to gain momentum and trade accordingly. The price is still in uptrend. There is no downtrend unless 3660 breaks lower. The order block support bulls.

Cheers and safe trading,

Nenad

 

BTC/USD Move Up Is Imminent

BTC/USD Technical Analysis

  • BTC/USD is supported
  • 45000 is a strong support
  • M L3 is resistance level
  • Ideally the price needs to stay above M L4

DAILY CHART BTC/USD

  1. Previous support zone
  2. The high
  3. Entry signal
  4. Target

The BTC/USD is currently supported at 45000 and 48000. If bulls manage to keep 48000 M L4 support strong, we should see a continuation move up. Have in mind that the BTC/USD is very volatile market, so pay attention to sudden volatility bursts. M L3 is strong resistance zone. If the price makes a close above 53655 M L3 camarilla pivot, expect a continuation move towards recent highs. However, we could see some range bound market before the move up. All in all, 45000 needs to hold and 48000 should stay strong too.

Cheers and safe trading,

Nenad

 

GBP/AUD Bears Are There To Win

GBP/AUD Technical Analysis

  • Move down below M L3
  • New bearish move
  • Q L3 is the first support
  • M L4 possible

  1. Order block
  2. Swing high
  3. Entry zone
  4. Target

GBP/AUD has another bearish momentum. We can see the strength of Asian Pacific currencies both AUD and NZD. The order block is showing a rejection of the GBP/AUD and it’s mostly due to AUD strength. The swing high is at the Q H3 and the natural move should be to the camarilla pivot Q L3. The break of the Q L3 pivot should move the market further down to M L4 pivot. 1.8288 is the target. However, it will depend a lot on the continuation of the trend and the AUD strength which is gaining momentum.

Cheers and safe trading,

Nenad

 

OIL Bears Are Advancing as the Breakout Lower Is Looking Good

OIL Technical Analysis

  • Bears are advancing
  • Downtrend
  • Oil might be back to 65
  • M L3 61.36 not excluded

  1. Swing low/historical support
  2. Swing high
  3. Temp Support
  4. Entry

OIL is still in downtrend. After a retracement up, we can see that the price is contained within the M H3 camarilla pivot and it is dropping just below the Q L3 camarilla pivot 70.88. Further progression down should lead to Q L4 level 66.74. A break below and a close below the Q L4 should get the price to 61.36 but at this point it’s pretty far. We should see a momentum to the downside before the price rejects again with a bullish retracement. OIL is sometimes a volatile market and selling rallies is the option now.

For a look at all of today’s economic events, check out our economic calendar.

Cheers and safe trading,

Nenad

 

GBP/USD Bullish Advance at The Historical Bottom

GBP/USD Technical Analysis

  • Bullish configuration
  • Upmove starts
  • M H3 is the first target
  • GBPUSD at the important level

  1. Swing low/historical support
  2. Swing high
  3. Entry zone
  4. First target

GBP/USD has reached an important zone where the price could bounce. We can see the bullish advance at the bottom. One of the biggest advantages in Forex trading is that the price repeats itself. We need to align the historical perspective with the now moment perspective. At this point the move up is imminent and you can see that my long position is already in profit. The first target is M H3 camarilla resistance 1.3435 but it could also be 1.3353 order block. Move above 1.3435 will target 1.3573 and 1.3625 respectively.

For a look at all of today’s economic events, check out our economic calendar.

Cheers and safe trading,

Nenad

 

S&P 500 Has Touched the Important Zone

S&P500 Technical Analysis

  • S&P500 is bullish
  • The price might reject off 88.6
  • The market is at important level
  • It will bounce or reject

DAILY CHART S&P500

  1. Pinbar high
  2. Swing low
  3. The entry zone
  4. Target High
  5. Target Low

The price is currently bouncing from the zone. We could see a continuation up or a move down depending on the daily close. The price is at the crossroads 4690-4715 is the trading zone. A bounce off the zone should be going towards 4892 while the drop might aim towards 4486. Watch the daily close and all levels in between. The SP500 also correlates very strongly to AUDJPY so watch also the movement on the AUDJPY pair. Equities generally highly correlate to JPY which is the risk on and risk off gauge. The daily close on the SP500 is important. Above or below the trading zone for the next direction.

For a look at all of today’s economic events, check out our economic calendar.

Cheers and safe trading,

Nenad

 

Bitcoin Bounce is Expected

BTC/USD Technical Analysis

  • BTC/USD is in uptrend
  • The price needs further bullish momentum
  • 65000 is expected
  • Daily timeframe is bullish

DAILY CHART BTC/USD

  1. Order block
  2. Ascending trend line support
  3. High
  4. Bounce zone
  5. Target

The price is currently bouncing from the zone. We could see a continuation up if the market gets further bullish momentum. M L3 is the level to break. Investors are looking for BTC/USD as the new haven as GOLD has lost some of it’s safe haven value lately. Riskier assets are meant also to be anti government as faith in govts has been lost. We expect crypto markets to develop fully and the pioneer Bitcoin has the potential for 300.000 USD which could come in time. At this point the potential to go and retest 52655 is high. The break of that level should be targeting 61198 and 65469.

For a look at all of today’s economic events, check out our economic calendar.

Cheers and safe trading,

Nenad

 

DAX40 Is Trying to Break 15050 as The Market as The Market Is Bearish

DAX40 Technical Analysis

  • Bullish Bounce
  • Resistance Q H5 Strong Zone
  • Entry zone
  • M L4 is the target

  1. Bouncing spot & Order block
  2. Top of the swing high
  3. Entry zone
  4. Target

The DAX is bearish. The market is trying very hard to break the support around 15050. M L3 is support and the target if 15050 is taken out. Equities are correlated to Yen and commodities. When commodities prices go down, Stock Markets go down and there is no demand for positive swaps on AUD pairs currently as opposed to JPY. When its a risk-off environment, usually the opposite occurs, and as a result, the JPY appreciates as foreign flows from Japan are repatriated back to their local currency. We can see that in the DAX which also correlates to EUR and JPY simultaneously. The final target is 14435 if the drop below 15050 happens.

For a look at all of today’s economic events, check out our economic calendar.

Cheers and safe trading,

Nenad

 

GBP/AUD Bullish On All Fronts

GBP/AUD Technical Analysis

  • Double top spotted
  • Move up is expected
  • Breakout is possible
  • M H3 is the target

  1. Double top point 1
  2. Double top point 2
  3. Entry
  4. Target

The GBP/AUD is bullish. We can spot marubozu candles which are obvious is the Daily timeframe. As long as marubozu candles keep the momentum up, we can expect further continuation to the upside. Double top is there, if it breaks we go for the M H3 as the target. The overnight entry is doing good, almost 100 pips in profit. GBP/AUD is both European and Asian-Pacific cross so it has huge ATR and great momentum. This is all bullish and the breakout might be expected soon especially due to this obvious emerging inverted SHS pattern.

For a look at all of today’s economic events, check out our economic calendar.

Cheers and safe trading,

Nenad

 

AUD/USD Is Going Up Both Technically and Fundamentally

AUD/USD Technical Analysis

  • Bullish pinbars at support
  • Move up is expected
  • Higher lows and higher highs
  • M H3 is the target

  1. Low
  2. Higher Low
  3. Higher High
  4. Entry
  5. Target

The AUD/USD made a bounce from the lows. This is a technical bounce and it was expected. It was sped up by a positive GDP report. Gross Domestic Product (GDP) gauges the inflation-adjusted value of all goods and services produced within the economy. It is the most comprehensive measure of economic activity and an important indicator of economic health. 0.7100 zone was the entry zone with one more trade added at the retracement. Targets are 0.7170 followed by 0.7205 and 0.7250. if the market makes a close above 0.7250 in the upcoming days, it will open the way to 0.7385.

For a look at all of today’s economic events, check out our economic calendar.

Cheers and safe trading,

Nenad

 

GBP/CAD Is Bullish Now as Technical Price Action Shows Longs

GBP/CAD Technical Analysis

  • Bullish SHS on Daily TF
  • Breakout is expected
  • Positional entry has been established
  • M H5/ Q H3 are targets

 

  1. Left shoulder
  2. Head
  3. Right shoulder
  4. Entry
  5. Target

GBP/CAD is turning bullish and we can see that marubozu candlestick has been printed out. If the market remains bullish, we should secure profits around 1.7100 zone as continuation is expected but its a strong resistance. The market has also made a bullish SHS pattern at the bottom and we should see a steady move up. Any move and close above 1.7025 should see the GBP/CAD moving further up. Watch for a potential breakout of the bullish SHS pattern towards the target zone.

For a look at all of today’s economic events, check out our economic calendar.

Cheers and safe trading,

Nenad

 

AUD/CHF Shoulder Head Shoulder Formation For Bearish Pattern

AUD/CHF Technical Analysis

  • Bears are still in control
  • Bearish SHS pattern
  • Trend line break
  • Move down is imminent

  1. Left shoulder
  2. Head
  3. Right shoulder
  4. Trend line break & Pinbar
  5. Target

The AUD/CHF is still bearish. Predominant trend in the AUD is bearish. Technical and Fundamentals are aligned as RBA last statement was bearish. The CHF is getting stronger and if CHF/JPY gets higher (which it should concerning that we have a pinbar on daily) then the AUD/CHF drop will be even more exaggerated. Momentum is bearish and a close below 0.6690 should add more sellers in the equation. We can also spot bearish shoulder head shoulder formation which adds to the confluence. The target is M L5 0.6626.

For a look at all of today’s economic events, check out our economic calendar.

Cheers and safe trading,

Nenad

 

EUR/USD Bears Pushing Towards 1,1215

EUR/USD Technical Analysis

  • Descending trend line
  • Bearish trend
  • Support is broken
  • Continuation is expected

  1. Descending trend line
  2. Order block
  3. Lower high
  4. Entry zone
  5. Target

EUR/USD is still bearish. We can see that the support has been breached and a new move down is expected. On the H1 time frame which is the intraday frame, the expectation is that it could reach 1.1216. If that level is reached then it will open the door to the final target around 1.1165 zone. However, we could expect some retracements as a part of trend on higher time frames. At this point the intraday target is around 1.1216. Momentum below 1.1275 and 1.1301 needs to hold else the bulls might get the upper hand.

For a look at all of today’s economic events, check out our economic calendar.

Cheers and safe trading,

Nenad

 

GBP/AUD Rooftop Pattern Spotted in Daily TF

GBP/AUD Technical Analysis

  • Rooftop pattern on daily
  • The price should move down
  • Targets are M H3 and M L3
  • 1-2-3 Breakout

  1. Double top support
  2. High of the move
  3. New Support
  4. Retest of the swing entry zone
  5. Target

GBP/AUD has formed a rooftop pattern on the daily TF. The pattern has a horizontal or near horizontal bottom with up sloping trend in the first part of the pattern followed by a down-sloping trend in the last part of the pattern. 1-2-3 resembles the roof. The entry zone is around 1.8520. The first target is is M H3 camarilla 1.8375 followed by 1.8250. If the market continues with the trend the final target is M L3 camarilla pivot – 1.8050.

For a look at all of today’s economic events, check out our economic calendar.

Cheers and safe trading,

Nenad