AUD/USD Bullish Zone is Holding

The AUD/USD is making 1-2-3 bullish pattern at the weekly and daily support zones and slightly above the ATR projection low.

0.7705-0.7720 is the zone where buyers should show up. 1-2-3 pattern is holding and bouncing off the camarilla weekly and daily levels. We should see the upward price movement towards W H3, D H5 and W H5. Intraday targets are 0.7740 snf 0.7765 while the swing target is 0.7840. Swing target only comes into play if the price closes the day above the intraday target.

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

Cheers and safe trading,

Nenad

 

GBP/USD 2-Way Trading as the Double POC is Formed

The GBP/USD has formed two important zones and we might see moves in both directions.

Long trades could show up around 1.3865-85. A rejection from the zone targets 1.4020. However there is a lot of confluence within the upper POC zone. D H5 followed by the ATR projection high and previous strong resistance is screaming for a sell. Intraday traders might use that opportunity to short at the zone and take intraday pips or scalp. The targets are 1.3980, 1.3954 and 1.3904.

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

Cheers and safe trading,

Nenad

 

EUR/USD The Vortex of the Triangle is Close

The EUR/USD is very close to the vortex of the triangle. My expectation is that the price will go lower.

1.2075 is the POC zone. We could see the congestion in the area and a D L3 camarilla pivot which has rejected the price. Momentum down below 1.2060 should accelerate the move of the EUR/USD towards the 1.2050, 1.2035 and 1.2020 zone. Selling should continue and fading the strength is the scenario to go with.

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

Cheers and safe trading,

Nenad

 

AUD/JPY Short Selling at the Top

The AUD/JPY has made a strong resistance at the top. 88.6/W H4 camarilla/ATR pivot. We should see a move down.

1-2-3 pattern comes exactly at the resistance and we should see a strong move down. The move could happen today as there are a lot of sellers at the POC zone. See the wicks on the candlesticks. Targets are 84.01, 83.70 and 83.11. Additionally we also see a descending trend line at the top, between the points 1-3.

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

Cheers and safe trading,

Nenad

 

GBP/JPY Trend Line is Taken Out

The GBP/JPY has been breaking below the trend line after successfully making 1-2-3 pattern sell.

Last week I saw a potential for the short. However, the shorts happened after point 3 has been printed out and now we see that trend line is being tested. It has already been taken out, so if sellers manage to hold below the trend line in the next 2 hours, we should see a move down. Intraday targets are 149.20 followed by 148.90. For swing traders 147.70 could be the final target.

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

Cheers and safe trading,

Nenad

 

GOLD Structured Breakout as Quadruple Top is Holding

GOLD has made a breakout to the upside, which might be qualified as a FALSE breakout as LONG as the quadruple top is holding.

The Quadruple top is seen on the chart as the strong resistance (blue line). We should be holding our shorts as long as the market is below 1800. However, the structured breakout is gonna play out below 1790. The target is 1776, the ATR projection low. Have in mind that 1800 is a psychological level so from an intraday perspective, breakout below 1790 could be well executed if bearish momentum kicks in.

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

Cheers and safe trading,

Nenad

 

EUR/USD Consolidation Breakout Pattern Targets 1.2093 and More

The EUR/USD has formed a strong support and I expect the price to proceed further up.

Consolidation-Breakout pattern has been formed at the bottom and we expect the price to push further up towards the W H5 zone. If we see the close above 1.2095 then 1.2136 is next. Bulls want to protect 1.1950 as the strong support zone where currently buyers are dominating. If the support fails we will see a huge drop to the downside.

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

Cheers and safe trading,

Nenad

 

Oil Triple Top for Bearish Pressure at the POC

Oil is having a difficult time breaking the high due to the triple top and CAD moves. We should see a move down.

The 1-2-3 emerging pattern happens in the zone and we might see a move down if the resistance stays strong. A drop might happen between 64.43-65.35 as it is at 78.6-88.6 retracement of the last swing. Targets are 62.89 as an intraday target and 61.71 as the swing target. Watch for price action.

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

Cheers and safe trading,

Nenad

 

GBP/USD is in Retracement Mode as Sellers are Waiting in the Zone

The GBP/USD has formed a double top pattern exactly at the W H5 confluence zone. We can see that the pair is retracing and a new drop is possible.

Multi tops, including the double top should be preventing buyers changing the intra-week trend. Remember, 4h timeframe is an intraday, intra-week trading timeframe, so I expect sellers to show up within 1.3930-63. We should see a drop towards 1.3886 followed by 1.3791. Only below 1.3791, 1.3743 and 1.3662 is possible.

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

Cheers and safe trading,

Nenad

 

NASDAQ at Highs but Watch for a Retracement

The US100 – NASDAQ has been trading in an upper range indicating a strong uptrend. This is the case partially to Yen getting weaker.

We can spot 2 POC zones. The first zone 13495-13600 is a shallow retracement, usually seen in strong trends. 38.2 Fib is making a confluence with W L4. On the other hand, we can see POC2 at 88.6/M L3 at 12794.Watch for rejections in any of the zones towards 14050 followed by 14109 and 14300. Breakout will happen above 14050. W H5 is 14366 which is the weekly target after a breakout.

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

Cheers and safe trading,

Nenad

 

OIL Range Expansion is a Possibility

Oil has been consolidating in a rectangle and we could see a move up before the price drops.

Since March 17 we have seen a consolidation in the oil price. We don’t know if the market is going to continue with any trend until the range is broken. At this point we should see a drop from 78.6-88.6 zone towards W L4 camarilla. However, the POC zone needs to be reached – 63.22-63.98. When the price gets there, I assume another drop is coming towards 57.52 which will be the target for the move. This will create another rectangle and possible range 50-65.

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

Cheers and safe trading,

Nenad

 

EUR/AUD It’s Time for Sellers to Turn the Tables

The EUR/AUD is making a 1-2-3 hook pattern and we should see a move down. Sellers are here.

After a retracement, the pair has come to W H3 camarilla pivot. However, it is not just the W H3, it is also a M H4 which indicates a monthly camarilla pivot level. I see a continuation lower towards 1.5538 and a potential for 1.5465. Sellers are in control at this POC as the AUD is getting stronger. Watch for a drop from the POC zone towards above-mentioned levels.

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

Cheers and safe trading,

Nenad

 

GOLD V-Shaped Reversal Opens the Way to 1770 Zone

GOLD has come to the point where it will be either continuation to the upside or move lower. At this point it is looking bullish.

Consolidation between the ascending trend line and flat top has almost come to an end. Vortex of the consolidation pattern should soon break. V Shaped reversal brought the price higher and the 1740 zone should support the bulls. If we see the breakout first target will be 1751 followed by 1762 and 1779. As long as the price is above 1725, bulls are in control. Break below 1731 and we will see the breakout to the downside.

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

Cheers and safe trading,

Nenad

Oil Retracement Towards the Trendline then Another Drop in the Price

Oil is ranging and the market is very slow. We could see a move to the upside towards the POC zone.

If the market makes the move towards the POC zone, we might have a sell trade. 61.26-61.72 is where we could expect the price to go. Descending trend line and M H3 resistance constitute for a confluence. A rejection from the zone targets W L3 W L4 and ATR low. 57.11 is the final target if we see a move down.

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

Cheers and safe trading,

Nenad

 

GBP/USD Hook Pattern for a New Bearish Impulse

The GBP/USD has formed 1-2-3 pattern and this is a U-turn after a retracement. Sell trades are going well and the market is bearish.

The trend line shows a bearish continuation move as the price was unable to break the previous high. We have a continuation after the POC 1.3875-1.3900. Close below 1.3799 will be bearish for the pair and we should see a continuation towards 1.3749 and 1.3680. Market is bearish and there is no sign of the trend change. Selling the rallies continues.

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

Cheers and safe trading,

Nenad

 

GOLD Retracement for the Next Wave of Selling

Gold is retracing mostly because of the AUD strength. The market went to resistance and I expect bearish continuation.

1738-1746 zone should provide us with bearish rejection. W H3 is an additional level which provides confluence to bearish gold outlook. 1-2-3 pattern is in play. Targets are 1725 followed by 1714, 1699 and eventual retest of 1672. I don’t expect all targets to be hit at once but possibly during the week or next week.

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

Cheers and safe trading,

Nenad

 

EUR/USD Slow Bearish Action During the Bank Holiday

The EUR/USD is still bearish. We should see a continuation down as the price has made 1-2-3 pattern at resistance.

D H5 and W L3 are camarilla pivots in the resistance zone of the EUR/USD. European banks are on Eastern holiday, so we might see slow movement and low volatility. 1.1755-65 is the entry zone for the pair and continuation of the trend should lead towards 1.1720 and 1.1677, but it will probably not happen today. The US banks are working normally so we might see a volatility jump in the afternoon.

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

Cheers and safe trading,

Nenad

 

Gold Bulls are Rallying as the Price Hit the Double Bottom

Gold is in downtrend but we can see that the double bottom formation has formed and we could see a move to the upside.

1676 is the historical buying zone. If you scroll the Daily chart back in history, you will see that the same accumulation happened before in April 2020 so we could see a move up. However I don’t expect the move to be that strong as in 2020. What I see is a move towards 1738-46 where we could see short trades. So, watch for a move up then rejection in the POC zone towards the double bottom.

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

Cheers and safe trading,

Nenad

 

Silver Strong Bearish Trend Continues After a Corrective Move

Silver is bearish. However, the market is in a correction mode and we should see a continuation down.

There are two POC zones. The first zone 24.50-90 is the order block zone. We also might see a move down straight from the zone. The POC 2 is a retracement zone. We can also spot a confluence with the W H5 camarilla. In both cases we should see a move down towards 23.43 and 22.47.

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

Cheers and safe trading,

Nenad

GOLD Bears are Dominant as the Price is Moving Further Down

Gold is very bearish. We can see that rallies are sold into and that was pretty much expected.

The POC zone is 1729-32. As the momentum is strong I don’t think we will see a retracement to the zone but rather smaller rallies will be sold. That being said watch for 1705 – 1715 for next wave of selling, Below 1700 we should see a continuation towards 1684 but also below 1684 towards 1675.

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

Cheers and safe trading,

Nenad