USD/CAD Flat Top Ascending Triangle Uptrend

The USD/CAD has been in a steady uptrend. The price has formed an ascending flat top triangle that suggest an uptrend continuation. But the price has already reached the W H4 camarilla pivot so bulls need to be careful. If the pair breaks 1.2760 then 1.2805 will be possible. If there is no breakout to the upside then a retracement towards the POC 1.2700-15 (50.0, D L3, ascending triangle trend line, EMA89) will be possible. New buyers might appear within the POC zone and spike the price up towards the 1.2760 and above mentioned targets. However, bulls should pay attention to 1.2700 break to the downside. If that happens, the pair might experience a temporary weakness leading to 1.2656-45 zone.

USD/CAD 1H Chart
USD/CAD 1H Chart

Daily technical analysis is written by Nenad Kerkez, a senior analyst at Admiral Markets

USD/JPY Giant Roof Pattern On H4 Time Frame

The USD/JPY has formed a giant roof pattern on H4 time frame indicating it that we might see a huge drop if the pair breaks and makes a 4h daily close below the bottom (108.72). 108.80-72 is the final support for the low of the roof pattern and the break below it should target W L3 108.50, WL4/ML4 107.90 and W L5 106.89. M L5 – 105.89 should be reached only if the daily candle closes below 106.80. A failure to break roof’s low might lead to a rally and we might see a retracement towards the POC 109.82-110.00 (W H3, ATR high, order block) and eventually POC2 W 110.30-50 (W H3, EMA89) where we could see a rejection towards the roof’s low that would retest it. So, pay attention to POC zones for potential rejections and above mention targets if the roof pattern breaks.

USD/JPY 4H Chart
USD/JPY 4H Chart

W L3 – Weekly Camarilla Pivot (Weekly Interim Support)

W H3 – Weekly Camarilla Pivot (Weekly Interim Resistance)

W H4 – Weekly Camarilla Pivot (Strong Weekly Resistance)

M H4 – Monthly Camarilla Pivot (Very Strong Monthly Resistance)

M L3 – Monthly Camarilla Pivot (Monthly Support)

M L4 – Monthly H4 Camarilla (Very Strong Monthly Support)

Daily technical analysis is written by Nenad Kerkez, a senior analyst at Admiral Markets

EUR/USD Two Breakout Points Outside The Equidistant Channel

The EUR/USD has perfectly rejected from both POCs after the setup and analysis shown on Weekly Recap and at this time it is very clear that the equidistant channel is trapping the price keeping the range bound market still in play. After a fake-out that happened yesterday 1.1720-1.1690 (which was still good to trade as a breakout trade, and what I showed during the Live Trading webinar) we can see two POC zones within the equidistant channel that might push or tank the price. If the price spikes above 1.1778 (EMA89, D H3, channel high) the target is 1.1798 and 1.1825. Above 1.1832 we should see a continuation towards 1.1875 and 1.1910. Below 1.1668 (D L5, ATR projection low, channel low), the price could drop to 1.1584.

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W L3 – Weekly Camarilla Pivot (Weekly Interim Support)
W H3 – Weekly Camarilla Pivot (Weekly Interim Resistance)
W H4 – Weekly Camarilla Pivot (Strong Weekly Resistance)
M H4 – Monthly Camarilla Pivot (Very Strong Monthly Resistance)
M L3 – Monthly Camarilla Pivot (Monthly Support)
M L4 – Monthly H4 Camarilla (Very Strong Monthly Support)
POC – Point Of Confluence (The zone where we expect price to react aka entry zone)

EUR/USD Two Breakout Points Outside The Equidistant Channel
EUR/USD Two Breakout Points Outside The Equidistant Channel

Daily technical analysis is written by Nenad Kerkez, a senior analyst at Admiral Markets

GBP/CAD Inverted Head And Shoulders Pattern On Intraday Time Frame

In the lack of any major driver today, the GBP/CAD is still bullish ,after the retracement from the weekly H4 camarilla pivot. At this point, we can see a bullish SHS (inverted head and shoulders pattern) that cues for an uptrend continuation. 0.6493-0.6506 (bullish shs, trend line, 2 hammers, historical buyers, 61.8, D3) is the POC zone and the price might reject. Above 1.6520 we might see a continuation towards 1.6540, 1.6565 and 1.6602. D L4 -1.6477 should hold for the bullish SHS pattern to succeed. Below 1.6475 we might see the pattern invalidation, leading to 1.6440.

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W L3 – Weekly Camarilla Pivot (Weekly Interim Support)

W H3 – Weekly Camarilla Pivot (Weekly Interim Resistance)

W H4 – Weekly Camarilla Pivot (Strong Weekly Resistance)

M H4 – Monthly Camarilla Pivot (Very Strong Monthly Resistance)

M L3 – Monthly Camarilla Pivot (Monthly Support)

M L4 – Monthly H4 Camarilla (Very Strong Monthly Support)

POC – Point Of Confluence (The zone where we expect price to react aka entry zone)

GBP/CAD Inverted Head And Shoulders Pattern On Intraday TIme Frame
GBP/CAD Inverted Head And Shoulders Pattern On Intraday TIme Frame

EUR/USD Still In Uptrend But Watch 1.1825 and 1.1721

The EUR/USD is still in uptrend after Friday’s NFP and by looking at important weekly camarilla pivots we can see that the price has been trapped between Weekly L3 and H3 level that is a perfectly normal movement as those are major levels before the price makes a breakout above or below.

Since the pair is still in uptrend, the rejection from 1.1720 zone is targeting 1.1825. If we see a breakout or 4h close above the 1.1825 we might see 1.1875 and 1.1910. Only above 1.1910, 1.1960-90 will be possible. Have in mind that W H5 (1.1960 ) and M H3 (1.1987) are strong resistance levels as shown in the chart. However, as the price still hasn’t made a higher high on 4h chart and if it fails to close above 1.1825, then a rejection towards 1.1720 could be possible again. I expect sellers to show around 1.1825 so we need to see the reaction. Only the break of 1.1720 will aim for 1.1670 and 1.1585.

EUR/USD 4H Chart
EUR/USD 4H Chart

W L3 – Weekly Camarilla Pivot (Weekly Interim Support)

W H3 – Weekly Camarilla Pivot (Weekly Interim Resistance)

W H4 – Weekly Camarilla Pivot (Strong Weekly Resistance)

M H4 – Monthly Camarilla Pivot (Very Strong Monthly Resistance)

M L3 – Monthly Camarilla Pivot (Monthly Support)

M L4 – Monthly H4 Camarilla (Very Strong Monthly Support)

Daily technical analysis is written by Nenad Kerkez, a senior analyst at Admiral Markets

USD/CAD Overextended Above Weekly And Daily Camarilla Pivots

The USD/CAD is enjoying the uptrend that I have already provided the analysis for, but now it looks a bit overextended to the upside. This looks like a USD strength more than CAD weakness as ADP numbers had a revision yesterday that provided a boost to dollar. At this point the USD/CAD is getting close to the POC (ATR pivot, D H5, bearish order block) 1.2610-30. The price is above both weekly and daily H5. There is also a bearish divergence that suggests a possible U-turn. Targets are 1.2580,1.2550 and 1.2530. Ideally the price should stay below 1.2660 if the bears want to remain in control.

 

W L3 – Weekly Camarilla Pivot (Weekly Interim Support)

W H3 – Weekly Camarilla Pivot (Weekly Interim Resistance)

W H4 – Weekly Camarilla Pivot (Strong Weekly Resistance)

M H4 – Monthly Camarilla Pivot (Very Strong Monthly Resistance)

M L3 – Monthly Camarilla Pivot (Monthly Support)

M L4 – Monthly H4 Camarilla (Very Strong Monthly Support)

POC – Point Of Confluence (The zone where we expect price to react aka entry zone)

USD/CAD Overextended Above Weekly And Daily Camarilla Pivots
USD/CAD Overextended Above Weekly And Daily Camarilla Pivots

AUD/USD Bullish POC Zone Should Provide Continuation

The AUD/USD has been in an uptrend with strong rejections off the important POC zones. At this point, we can see a POC zone within 0.7950-70 (trend line, D L3, 61.8,EMA89). If the zone holds, the price should ideally go above 0.7972 (EMA89) and proceed further towards 0.8000 and 0.8020. Break of 0.8025 should target 0.8050-65 zone. However if the price drops below 0.7940, we might see 0.7915 ( D L4/ATR pivot).

  • W L3 – Weekly Camarilla Pivot (Weekly Interim Support)
  • W H3 – Weekly Camarilla Pivot (Weekly Interim Resistance)
  • W H4 – Weekly Camarilla Pivot (Strong Weekly Resistance)
  • D H4 – Daily Camarilla Pivot (Very Strong Daily Resistance)
  • D L3 – Daily Camarilla Pivot (Daily Support)
  • D L4 – Daily H4 Camarilla (Very Strong Daily Support)
  • POC – Point Of Confluence (The zone where we expect price to react aka entry zone)
AUD/USD Bullish POC Zone Should Provide Continuation
AUD/USD Bullish POC Zone Should Provide Continuation

Daily technical analysis is written by Nenad Kerkez, a senior analyst at Admiral Markets

EUR/JPY Bullish W Pattern Marks The Possible Uptrend Continuation

The EUR/JPY has been in a steady uptrend marking a zig zag pattern followed by a huge bullish W pattern. At this point we have a possible continuation and a possible retracement to POC zone 129.95-130.10 (D L4, EMA89, 61.8, ATR pivot, historical buyers, bullish order block). Continuation should happen above 130.59 towards 130.80 and 131.10. In the case of retracement to POC, the price should be rejected towards upper levels. However should the price break below 124.90, traders should watch for 129.77, 129.66 and 129.50.
W L3 – Weekly Camarilla Pivot (Weekly Interim Support)

W H3 – Weekly Camarilla Pivot (Weekly Interim Resistance)

W H4 – Weekly Camarilla Pivot (Strong Weekly Resistance)

D H4 – Daily Camarilla Pivot (Very Strong Daily Resistance)

D L3 – Daily Camarilla Pivot (Daily Support)

D L4 – Daily H4 Camarilla (Very Strong Daily Support)

POC -Point Of Confluence (The zone where we expect price to react aka entry zone)

EUR/JPY Bullish W Pattern Marks The Possible Uptrend Continuation
EUR/JPY Bullish W Pattern Marks The Possible Uptrend Continuation

GBP/USD Uptrend Continuation If the Price Stays Above 1.3060

The GBP/USD is in uptrend and we can see the POC zone clearly below the price. The POC 1.3075-1.3100 might look a bit stretched but that happens due to many individual confluence points that are found within the zone – W L3, ATR pivot, D L3, trend line, EMA89, 38.2 fib + ATR (14) has slightly increased.

If we see a retracement in the zone, the price might bounce towards 1.3157 and 1.3180. Only above 1.3180 we will see another bullish wave towards 1.3230. As long as the price stays above 1.3060 bulls will have the upper hand, else below 1.3060, short term stops might be triggered so 1.3025 will be possible.

    • W L3 – Weekly Camarilla Pivot (Weekly Interim Support)
    • W H3 – Weekly Camarilla Pivot (Weekly Interim Resistance)
    • W H4 – Weekly Camarilla Pivot (Strong Weekly Resistance)
    • D H4 – Daily Camarilla Pivot (Very Strong Daily Resistance)
    • D L3 – Daily Camarilla Pivot (Daily Support)
    • D L4 – Daily H4 Camarilla (Very Strong Daily Support)
    • POC – Point Of Confluence (The zone where we expect price to react aka entry zone)
GBP/USD 1H Chart
GBP/USD 1H Chart

Daily technical analysis is written by Nenad Kerkez, a senior analyst at Admiral Markets

USD/CAD Bullish Divergence Could Push The Price Up

The USD/CAD has been dropping significantly without any substantial retrace, finally hitting the 1.2400 zone support. On H4 chart the pair is showing the bullish divergence so there could be a push to the upside. Above 1.2450 we might see a bullish price action towards 1.2536. Sellers should be waiting at the POC and if the price gets there we might see a rejection. POC 1.2600-15 (W H3, 38.2, historical sellers). The POC zone is very close to W H4 / M L4 so it adds additionally to its strength. Rejections might aim for sub 1.2400 levels, specifically 1.2360.

At this point it’s important to notice the bullish divergence and possible upward move on the pair.

USDCAD

Source: https://admiralmarkets.com/analytics/technical-analysis/usd-cad-bullish-divergence-could-push-the-price-up © Admiral Markets

EUR/USD Higher Highs And Higher Lows For Uptrend Continuation

The EUR/USD continues to make higher highs and higher lows that is a sign of  a steady uptrend. At this point the POC zone 1.1605-20 (D L4/L5, 38.2, EMA89, W L3) looks firm and if the price retraces to the zone we might see another push to the upside. Targets are 1.1683 and 1.1720. However, if we don’t see a pullback into the POC zone, watch for breakout above 1.1683 that should target 1.1720. Above it the pair might go to 1.1800 during the week. As long as the pair is above 1.1522 ( W L4/trend line confluence), bulls are safe.

  • W L3 – Weekly Camarilla Pivot (Weekly Interim Support)
  • W H3 – Weekly Camarilla Pivot (Weekly Interim Resistance)
  • W H4 – Weekly Camarilla Pivot (Strong Weekly Resistance)
  • D H4 – Daily Camarilla Pivot (Very Strong Daily Resistance)
  • D L3 – Daily Camarilla Pivot (Daily Support)
  • D L4 – Daily H4 Camarilla (Very Strong Daily Support)
  • POC – Point Of Confluence (The zone where we expect price to react aka entry zone)
EUR/USD 1H Chart
EUR/USD 1H Chart

Daily technical analysis is written by Nenad Kerkez, a senior analyst at Admiral Markets

GBP/JPY Possible Momentum Change Due to M Pattern

The GBP/JPY has been rejected from the W L4 level and at this point we see an intraday downtrend in the GBP/JPY with clear double bottom support. Price action shows both up and down movement but to me it looks like a potential momentum change especially because the price is below W L4 that makes a POC zone 146.05-28 (D H3/H4, trend line, EMA 89, ATR pivot, 50.0) and M pattern below. If the price re-enters the zone, it should be rejected again. if we don’t see another retracement, pay attention to M pattern breakout below 145.26. Targets are 144.85 and 144.60.

GBP/JPY 1H Chart

Daily technical analysis is written by Nenad Kerkez, a senior analyst at Admiral Markets

USD/JPY Descending Trendline Marks The Downtrend

The USD/JPY has been dropping, making a descending zig-zag pattern which marks the downtrend. The POC zone 112.40-62 (D H4, Trend line, ATR pivot, EMA89) could reject the price towards 111.70 and if the 111.65 breaks to the downside 111.40 and 111.00 should be next.

If we don’t see a retracement towards the POC, pay attention to 111.65 and possible breakout below. However if the price breaks above 112.70 we might see a retest of 113.00-113.15 zone.

USD/JPY 1H Chart
USD/JPY 1H Chart

Daily technical analysis is written by Nenad Kerkez, a senior analyst at Admiral Markets

EUR/USD Bullish Patterns Forming On Intraday Time Frame

The EUR/USD has bounced above Weekly L3 camarilla, that suggest a possible upmove continuation. We can see two POC zones. The POC1 (W L3, ATR Pivot, D L4, order block, 50.0, EMA89) 1.1420-35 could spike the price towards 1.1475 and 1.1505, while in the case of deeper retracement , the pair might hit the POC2 (88.6,trend line, ATR low, D L5) 1.1400-1.1385 and then spike again towards 1.1440, 1.1475 and 1.1505.

In that case it will form inverted head and shoulders pattern (bullish shs) which will be another sign of uptrend continuation.

EUR/USD 1H Chart
EUR/USD 1H Chart

Daily technical analysis is written by Nenad Kerkez, a senior analyst at Admiral Markets

USD/CAD Further Bearish Pressure Is Expected

Following reports from OPEC that supply shall exceed demand in the oncoming year or so, we have a consolidating Crude Oil price around $44-45/bbl. BoC have increased their rate overnight following signs of inflation. Given this, the USD/CAD could be further sold on on rallies.

My previous analysis showed a drop in the pair and I expect this to continue. At this point the pair is just above W H5, and above D L3. According to my CAMMACD method, we could see another drop below D L3. The drop could happen with or without retracement. If we see a retracement, pay attention to POC 1.2790-1.2810 (50.0, W L4, D H3, ATR pivot) where the price could reject. A move below 1.2675 suggests bearish continuation towards 1.2606 all the way down to 1.2485.

USD/CAD 1H Chart
USD/CAD 1H Chart

Daily technical analysis is written by Nenad Kerkez, a senior analyst at Admiral Markets

AUD/NZD Proceeds With Uptrend As Expected

The AUD/NZD went exactly as planned rejecting from the POC zone. Our previous AUD/NZD analysis showed a strong support which was respected and the pair proceeds with uptrend.

The pair is above W H3 and D H5 which suggests strong uptrend. If we see a retracement, pay attention to POC 1.0465-85 (50.0, ATR pivot, W H3, D H5/H4, EMA89, inner trend line). As you can see this is the cluster of support so now moment buyers might be waiting for another chance to push the price higher. If the price breaks and closes above 1.0550, we might see 1.0600 – W H5 level.

AUD/NZD 1H Chart
AUD/NZD 1H Chart

Daily technical analysis is written by Nenad Kerkez, a senior analyst at Admiral Markets

AUD/USD Narrow Range Possibly Targeting Weekly Support

AUD/USD has been moving in a very narrow range. The ATR for last 14 days is 48 pips and it suggest slow moving price. If the price managed to stay below 0.7645 that is the ATR projected high and W H3 camarilla, bears would have an upper hand. At this point we might see a rejection from the POC 0.7600-15 ( D H3, 38.2, inner trend line, ATR pivot) towards 0.7570 and eventually 0.7550.

AUD/USD 1H Chart
AUD/USD 1H Chart

Daily technical analysis is written by Nenad Kerkez, a senior analyst at Admiral Markets

USD/CAD Follows the EMA89 Slope

If you had signed up for my Live Trading Webinar that is exclusive with Admiral Markets, you could’ve seen how the USD/CAD rejected perfectly from 2 POC zones where both market orders were triggered.

The pair is still going down and in the case of any spike to the upside pay attention again to POC 1.2990-1.3005 (D H4, ATR pivot, EMA89) and eventually POC2 1.3035-50 (D H5, W H3, descending trend line, ATR high) where price could reject again. At this point the price is below W H3 and D H3, which signifies a strong downtrend. Continuation below yesterday’s low (1.2912) aims for 1.2895 and 1.2869. Below it is a void zone, where we could see hardly any support all the way down to 1.2780.

USD/CAD 1H Chart
USD/CAD 1H Chart

Daily technical analysis is written by Nenad Kerkez, a senior analyst at Admiral Markets

AUD/NZD Golden Ratio Supports The Pair

As markets reacted negatively to the RBA statement this month, the AUD may be experiencing temporary weakness. Data on the AIG Manufacturing Index and commodity prices was positive to the AUD earlier this week, whilst there is a lack of data this week on the NZD, which may limit its strength. At this point the pair is supported by 61.8, D L5, W L3 and rising trend line which might spike the price to the upside. The POC zone for long trades is 1.0430-45 and as long as it stays above 1.0375 upside is possible. Targets are 1.0485, 1.0510 and 1.0550.

AUDNZD Golden Ratio Supports The Pair
AUDNZD Golden Ratio Supports The Pair

Daily technical analysis is written by Nenad Kerkez, a senior analyst at Admiral Markets

EUR/USD Bullish Breakout Suggests a Possible Continuation

The EUR/USD has made 3 consecutive bullish candles on daily(see the mini chart on the main chart) and the first candle from those 3 is a bullish marubozu that usually suggests a continuation. We see that the continuation has already happened but the W H3 hasn’t been reached so we might see a pullback before the next leg up. We have 2 POC zones where the price could possibly reject. POC 1.3370-84 (D L4, 38.2, EMA89, ATR pivot) marks the important L4 camarilla support zone while POC2 1.1350-65 ( 61.8, ATR Low, D L5 historical buyers) marks the final support zone before we see a deeper retracement towards W L4 camarilla that might slow the uptrend continuation. If the price rejects from any POC watch for 1.1445 and 1.1500.

EUR/USD 1H Chart
EUR/USD 1H Chart

Daily technical analysis is written by Nenad Kerkez, a senior analyst at Admiral Markets