Weekly Top-Down Technical Analyses

EURUSD Weekly Technical Outlook

On the weekly time frame, the EURUSD price action is still disposed southwards within a falling wedge (blue). However, there is limited southward momentum as price action remains ambivalent as it nears the wedge support trendline. The bearish candlestick printed four weeks ago is still influential as a control or master candlestick for the subsequent three candlesticks. Its high, around 1.11380, may be a target for any bullish move, particularly as it is in confluence with a congestion zone which may act as resistance. We should also notice a falling minor trendline (black), which is in play as resistance to recent price action.



Recent price action on the daily time frame is rather choppy. As the major technical outlook is bearish, a feasible sell trade would need to await a significant northward pullback, perhaps to the 1.11380 area or the resistance trendline of the falling wedge (blue) seen on the weekly time frame.



I may be wrong. Trade safe and prosper.

KP

Hi all,

Here's my analysis of the pairs that I'll be keeping an eye on for this week..


AUDCAD - Bullish
W1: Price below moving averages in down trending order (21 < 55 < 144) which is bearish
W1: Positive divergence with price and RSI
D1: Price making higher lows
D1: Price responding to ascending trend line as support
D1: Price at 23.6% Fibonacci level which may be used as a support level
D1: Two doji, signifying indecision at current price levels.
D1: 21 and 55MAs beginning to converge
H4: Price consolidating between monthly and weekly pivot areas
H4: higher lows on ascending trend line with month pivot point as resistance (rising wedge)
H4: Positive divergence between price and MACD histogram
H1: 21 MA has crossed over the 55 MA
H1: Bollinger Band has begun hugging the price zone, which can signify that some volatility may enter the market shortly




AUDCHF - Bullish
W1: High time frame story is that price had broken support to the down side held since AUG 2015 and returned above. Rejected by 21 MA and now looking to attack the support area again. However, price has been as a stand-off ending in a doji pattern at the support area. My bias is that price will move upward
W1: Price below moving averages in down trending order (21 < 55 < 144) which is bearish
W1: Positive divergence with price and RSI
D1: series of doji candles the whole of last week
D1: Mid-week doji pierced monthly pivot point which acted as support
D1: Mid-week doji pierced 38.2% Fibonacci area which acted as support
D1: Price seems to be edging higher as though in rounded bottom fashion
H4: Price formed piercing line patter at Weekly S2 pivot as support
H4: Price consolidating between Monthly pivot, Weekly Support and daily 38.2% fib level - This area is significant
H4: Bollinger Band has begun hugging the price zone, which can signify that some volatility may enter the market shortly
H4: MACD has crossed the signal line to the upside
H1: Bullish candle reversal pattern at support area
H1: MACD/sig lines is rising while price action in horizontal zone
H1: Mas has started to converge and appear as a resistance area, I expected price to reject downward before a push to the upside



GBPUSD - Bearish
If price breaks below support area, look for shorts
W1: Strong three candle reversal pattern at resistance zone which is also 38.2% retracement area
W1: Price below moving averages in down trending order (21 < 55 < 144) which is bearish
W1: Price rejected by 21 MA
D1: Price stopped at resistance area (also 23.6 Fibonacci level), expect small bounce before continuing downward
H4: Price broken below 144 MA and unable to reach back above after previous attempt.
H4: MACD confirming downward move
H1: Price below moving averages in down trending order (21 < 55 < 144) which is bearish
H1: Price breaking downwards and retracing to Fibonacci levels on each descent



USDCHF - Bearish
W1: Last week's price action produced a doji candle preceded by a tall wick candle which I see as slightly bearish.
W1: 21 SMA crossed below 55SMA
W1: price holding at resistance zone
D1: bearish engulfing pattern at resistance and at descending 144 SMA
H4: 21 SMA crossed below 55SMA
H4: ascending trend line touches 4 times
H4: trend line broken and price pulls back. Old support new resistance - I expect price to descend

Nice to see you on this thread again mate. Good contribution.

Trade safe.

KP

Quoting monit0r

Disliked

Hi all, Here's my analysis of the pairs that I'll be keeping an eye on for this week.. AUDCAD - Bullish W1: Price below moving averages in down trending order (21 < 55 < 144) which is bearish W1: Positive divergence with price and RSI D1: Price making higher lows D1: Price responding to ascending trend line as support D1: Price at 23.6% Fibonacci level which may be used as a support level D1: Two doji, signifying indecision at current price levels. D1: 21 and 55MAs beginning to converge H4: Price consolidating between monthly and weekly pivot areas...

Ignored

GBPCHF Weekly Technical Outlook

The GBPCHF market is presently operating at a horizontal support and resistance area. On the weekly time frame, price action had penetrated a multi-year low around 1.17120 eight weeks ago. From there the market experienced a bullish surge to the broken-down horizontal support around 1.24360 where a shooting star formation was printed two weeks ago. Last week, the market printed a bearish candlestick which is a technical follow-up of the shooting star. We may expect a bearish continuation this week.



On the daily time frame, price action has moved southwards of the 50 Fib retracement of the down leg from 1.33770 to 1.16740. In the last five days, the market has primarily printed bearish candlesticks as a follow through of the bearish engulfing candlestick printed two Fridays ago. We should expect further bearish move this week after a sideways operation as price action is presently located at a minor congestion area.

Attached Image (click to enlarge)

I may be wrong. Trade safe and prosper.

KP

GBPCAD Weekly Technical Outlook

After two years, eight weeks ago, the GBPCAD market returned to the 1.58550 demand zone from where it rallied northwards in September 2017. On the weekly time frame, seven weeks ago, price action rallied northwards from the area and, two weeks ago, entered a horizontal resistance zone around 1.66810. Last week, a bearish engulfing candlestick was printed in the area and, technically, we may see a bearish continuation this week.



Presently, price action is located at a minor support around 1.62720 on the daily time frame. This is also an area where a bullish rally started from on September 13 and the area is in confluence with a rising trendline (blue). Technically, we may see a brief pullback before any southward continuation. A breakdown of the rising trendline is likely to give impetus to a southward drive.



On the H4 time frame, presently, price action is sideways at a confluence of supports. We may see a northward pullback to the immediate minor resistance area around 1.63370/1.64080 (bound by magenta horizontal lines) before a southward continuation.



I may be wrong. Trade safe and prosper.

KP

XAUUSD Weekly Technical Outlook

Since the XAUUSD market entered the multi-year horizontal resistance around 1524.83/1555.10 seven weeks ago, price action has been rather sideways. But there is money to be made in both direction as the last few weeks have shown. On the weekly time frame, the 1482.26/1535.63 zone (bound by magenta horizontal lines) has seen much of the consolidation and acting as a consolidation channel.



On the H4 time frame, recent price action has turned southwards within the ‘consolidation channel’ (bound by magenta horizontal lines) seen on the weekly time frame but bears are not totally in control as the market gets closer to the lower boundary of the channel. Price action has rejected the lower boundary of the channel a couple of times and we may see a northward move, perhaps to the 1515.20 area, before bears become more influential. Technically, we are likely to see a southward drive after this pullback.



I may be wrong. Trade safe and prosper.

KP

EURUSD Weekly Technical Outlook

The EURUSD market has been disposed negatively for quite a while. On the weekly time frame, the market is respecting a falling trendline (red) traceable to the high of January 2018. However, there has not been a smooth bearish momentum. Price action has been grinding southwards in a consolidating manner. Presently, price action has entered a significant demand area, around 1.09400, which it last traversed northwards in May 2017. Technicals on the weekly time frame favour the bears.

Attached Image (click to enlarge)

The daily time frame shows recent price action operating within a falling channel (blue). Last week Thursday and Friday, price action printed two indecision candlesticks. Based on the recent technical patterns we may see a northward pullback to an area of value, such as the channel resistance trendline or the 1.11300 horizontal resistance (magenta line), before a southward turnaround.



I may be wrong. Trade safe and prosper.

KP

NZDUSD Weekly Technical Update

The NZDUSD market is disposed negatively. On the weekly time frame, price action is operating in a falling channel (blue). Last week, a bullish pinbar was printed around the 0.62310 multi-year low traceable to September 2015. We may see a bullish follow-through which may target the high of the bullish candlestick printed five weeks ago. It is aligned with the immediate horizontal resistance around 0.64480. Should bulls breach that area, we may see them target the 0.66300 area; which is the 61.8 Fib retracement of the most recent downleg.



On the daily time frame, the bearish momentum has declined and price action is in a northward mode. The first possible value area we can expect price action to retrace to is the immediate horizontal resistance around the 0.64480/0.64600 area. Should that area be breached by bulls, the 0.65750 area is likely to be a barrier to further bullish drive.



On the H4 time frame, recent price action is disposed northwards in a spiking channel (magenta). Presently, market operation is at a minor horizontal resistance and the technicals are still disposed northwards. Although I am bearish NZDUSD, I still expect further northward move and will not enter a sell trade at the present location of price action. I will wait for further northward move and a feasible sell trading setup at an area of value, such as the 0.64480 area. In the meantime, I will step aside from this market.



I may be wrong. Trade safe and prosper.

KP

AUDUSD Weekly Technical Outlook

The AUDUSD market is in consolidation with a southward mode. On the weekly time frame, price action is operating in a falling channel (blue). Nine weeks ago, market operation penetrated the 0.66600 horizontal support zone that was last traversed northwards in October 2018. Since then, price action has retested the area three times. Last week, bulls lifted price action above the area after a bearish drive leading to the printing of a bullish pinbar. Technically, we may see a further northward push, perhaps to the immediate horizontal resistance around 0.67680, before a southward turnaround.



AUDUSD price action printed a morning star pattern on the daily time frame between Wednesday and Thursday last week. There was a bullish follow-up on Friday. Recent technical patterns have seen southward turnarounds after a northward retracement to the 50 and 61.8 Fib zone. Technically, the next such retracement is likely to fall between 0.66870 and 0.69290 (bound by magenta horizontal lines). I am bearish AUDUSD but I will await such a retracement to the 50/61.8 Fib zone of the most recent downleg before looking for a sell trading opportunity.

Attached Image (click to enlarge)

I may be wrong. Trade safe and prosper.

KP

GBPCHF Weekly Technical Outlook

Nine weeks ago, GBPCHF market operation descended to the low of 2016 around the 1.16740 area before making a strong bullish turnaround. Since then, on the weekly time frame, price action has printed primarily bullish continuation candlesticks. Three weeks ago, price action entered the 50 Fib retracement zone of the downleg from the May 2019 high to the low of August 2019, which was the 1.16740 area. Then two weeks ago, price action printed a bearish candlestick at the 50 Fib retracement level, which is around the 1.25000 area. Last week, bulls struggled to regain control but failed to close above the high of the bearish candlestick even though it was initially breached. We may see some sideways of price action early this week. A break above the 1.25000 area will likely see bulls target the 1.27300 area, which is in confluence with the 61.8 Fib retracement of the recent downleg. However, should bulls fail to break above the 50 Fib zone, we may see a southward turnaround with bears likely to target the 1.19240 area, which is a significant horizontal support.



The GBPCHF daily time frame shows a market primarily disposed southwards. Presently, the market is technically in a consolidation mode within an expanding rising wedge (magenta). Price action is located at a confluence of support; the wedge support area and the 1.22700 horizontal support area. But the area is witnessing sideways of price action. Any break above that area is likely to lack a bullish momentum. A break below the wedge support on a daily closing basis will likely give impetus to a bearish drive, perhaps with bears targeting the 1.19240 horizontal support area. I will see any northward move as an opportunity to look for a feasible sell trade setup. Any southward move at the present level will not be attractive to me. I will await a northward correction first before looking for a sell trading opportunity.




I may be wrong. Trade safe and prosper.

KP

EURUSD Weekly Technical Outlook

The weekly time frame shows a EURUSD market consolidating along a falling channel (blue). Last week, the market printed a bullish candlestick with a low shadow. This happened in a support zone that was last visited in May 2017. The recent candlestick prints in the area show a consolidation but with a slight bullish mood. However, any further bullish move is likely to meet resistance around the 1.10980 area.



Recent price action on the daily time frame is operating in a narrow falling channel (magenta) within the bigger channel (blue) seen on the weekly time frame. Presently, it is disposed northwards – bulls having dominated much of price action last week. Should bulls maintain their influence, we may see them take price action further northwards. However, the 1.10990 horizontal resistance is likely to hinder a northward drive. Thus, we are likely to see a southward turnaround in the area or even at the resistance trendline of the inner falling channel (magenta).



A spiking channel (black) can be seen on the H4 time frame as bulls are presently taking price action northwards within the falling channel (magenta) seen on the daily time frame. Looking left, we may expect bulls to target the high of the bullish candlestick printed on September 12, 2019; this is around the 1.10780 area. But, technically, a breakdown of the spiking channel will result in a bearish drive with the 1.08830 inception area an initial target.

Attached Image (click to enlarge)

I may be wrong. Trade safe and prosper.

KP

Hi,

Here are my thoughts for the coming week ahead.

AUDCAD - Bullish

Bias is bullish due to higher time frame
Australia Bank Holiday - Monday 07 OCT
W1: Price below moving averages in down trending order (21 < 55 < 144 Moving Average) which is technically bearish, however price has consolidated and formed a horizontal base with a bullish hammer candle stick showing rejection of lower price level
W1: Positive divergence with price and RSI
D1: Price responding to ascending trend line as support
D1: Bullish engulfing pattern formed as price broke out of ascending support but has now returned above support level
D1: 21 and 55MAs beginning to converge
D1: Price approaching 21/55 SMA so expect a pullback before progression upward
H4: Price currently at monthly central pivot, expect pull back before progression upward
H4: higher lows on ascending trend line with month pivot point as resistance (rising wedge)
H4: Positive divergence between price and MACD histogram
H1: 21 MA has crossed over the 55 MA
H1: Bollinger Band has begun hugging the price zone, which can signify that some volatility may enter the market shortly
H1: Market opened lower, suspect as AUS is not open due to bank holiday




AUDCHF - Bullish

Bias is bullish due to higher time frame
Australia Bank Holiday - Monday 07 OCT
W1: After price attempted to attack the support area, price bounced from support moving up.
W1: MACD line approaching signal line and may potentially cross over to the upside which may be seen as bullish
W1: Price below moving averages in down trending order (21 < 55 < 144) which is bearish, however, as price has moved above and held support which is also 23.6% fib level, I expect price to move higher and penetrate the 20MA
D1: Price unable to break support level
D1: Tuesday deep bearish candle now covered over last three sessions
D1: Price ranging in between daily 23.6 and 38.2 fib levels
D1: Price seems to be responding to ascending trending support
H4: Price at monthly central pivot point as short term resistance
H4: However, price is above 21 and 55 SMAs which are converging towards a golden cross
H4: Price ranging around daily 23.6 and 38.2 daily and weekly 23.6% fib levels
H4: I would be interested in a break and pull back to the monthly CPP
H1: Market opened lower, suspect as AUS is not open due to bank holiday
H1: Market has opened into the lower Bollinger Band and progressing upward




CHFJPY - Bullish

Bias is bullish due to higher time frame
W1: Price below moving averages in down trending order (21 < 55 < 144) which is technically bearish, however, as price has just bounce from support area previously confirmed WB 01 Sept
W1: Price also responding to bottom of Bollinger Band
D1: Clear double bottom as price rejecting lower levels
D1: Piercing line pattern at support
D1: Price at bottom of Bollinger Band
H4: Price opened lower but quickly recovered
H4: MACD overstretched and lines converging giving sign of bullishness
H4: Price responded to the 38.2 fib retracement level, await to see if there are buyers that will take price higher
H1: Price now at strong resistance area
H1: 20 and 55 SMA appear to be about to form golden cross




EURUSD - Bearish

Bias is bearish due to higher time frame
W1: Price below moving averages in down trending order (21 < 55 < 144) which is technically bearish
W1: price as pulled back from 23.6 fib level as support which held as support in May 2017 and Resistance in March 2017
W1: Price has been riding the bottom of the Bollinger Band downward
D1: Price below moving averages in down trending order (21 < 55 < 144) which is technically bearish
D1: Candles have been getting smaller and smaller as the price rises signifying weakness at upper level, Thu/Fri show spinning top candles with long wicks
D1: Price rejected twice recently at the 23.6 fib level as resistance
D1: Price also rejected by 21 SMA as dynamic resistance
D1: 21 SMA acting as dynamic resistance
H4: Price consolidating after a rally at just above the H4 monthly central pivot
H4: Price rejected twice by 144 SMA as dynamic resistance as well as 50% fib level
H4: Price at 21/55 golden cross zone therefore caution advised in case price surges up
H1: Negative MACD divergence
H1: price appears to be approaching peak of a curve to the downside
H1: Look for price to break below 21 SMA and 21 to cross below 55 SMA




GBPCHF - Bearish

Bias is bearish due to higher time frame
W1: Price has rallied to clear resistance area and has been rejected
W1: price unable to break above 21 SMA
W1: Price leading lower the past two sessions
D1: Price failed to make a new higher high even though bounced from 38.2 fib level
D1: Price broken below 21 SMA
D1: lower highs and lower lows the past two sessions
H4: 21/55/144 SMAs converging around 23.6 fib level and H4 weekly CPP
H4: indecision candles at last two end of week sessions also around 23.6 fib level and H4 weekly CPP
H1: 21 has crossed below 55 SMA and is just above price at this resistance level (EURO markets closed at time of writing)

Well done mate. Good contribution.

Trade safe.

KP

EURUSD Weekly Technical Outlook

The EURUSD market continues its consolidation along a falling channel (blue) on the weekly timeframe. Recently, bulls have made several attempts to trade above the mod-area of the channel but their attempts have been futile. This is an indication that the technicals still favour bears. It is likely to take a bullish breach of the high (1.11630) of the bearish candlesticks printed seven weeks ago for a probable test of the channel resistance trendline to materialize. Nevertheless, such a move is likely to be temporary. It should be noted that the market is operating within a multi-year support zone, around 1.09120) from which it rallied in May 2017.

Attached Image (click to enlarge)

On the H4 time frame, price action is operating at the 78.6 Fib retracement zone of the downleg from 1.11088 to 1.08780. Technically, we can expect a turnaround at the level or a slowdown of bullish momentum. Looking left, we can see that price action is located near the high of the massive bullish candlestick printed on August 12, 2019 and the market has printed topping candlesticks in the area on Friday, with a bearish print at the close of the session.The EURUSD market continues its consolidation along a falling channel (blue) on the weekly timeframe. Recently, bulls have made several attempts to trade above the mod-area of the channel but their attempts have been futile. This is an indication that the technicals still favour bears. It is likely to take a bullish breach of the high (1.11630) of the bearish candlesticks printed seven weeks ago for a probable test of the channel resistance trendline to materialize. Nevertheless, such a move is likely to be temporary. It should be noted that the market is operating within a multi-year support zone, around 1.09120) from which it rallied in May 2017.

Attached Image (click to enlarge)

I may be wrong. Trade safe and prosper.

KP

GBPUSD weekly Technical Outlook

The general outlook of the GBPUSD market is bearish but with a bullish momentum. On the weekly time frame, price action is operating within a falling channel (blue). Presently, bulls are taking market operation towards the channel resistance trendline, a breach of which may expose the channel overshoot trendline (magenta).



On the daily time frame, upon the print of an inverted hammer at the support trendline of the failing channel (blue) seen on the weekly tie frame on Wednesday, bulls took the initiative to take price action further northwards within he channel. Presently, price action is a located a few pips below the next horizontal resistance around 1.27960. The area is proximal to the 61.8 Fib zone of the most recent downward swing from the high of 1.31757 to the low of 1.20221. Such an area is amenable to a southward turnaround. I am bearish GBPUSD.



Recent price action on the GBPUSD H4 time frame is parabolic and far from the mean. We may expect a southward turnaround at the early part of this week.



I may be wrong. Trade safe and prosper.

KP

XAUUSD Weekly Technical Outlook

The bullish run on the XAUUSD weekly time frame has given way to a falling flag or channel (blue). Much of the price action within the channel has been bearish. Last week, the market printed a long-tailed bearish candlestick around the 1489.45 horizontal support, which indicates a bullish influence. But the topping formation by recent price action indicates a bearish rejection of the zone. Thus, we may have to await what happens within the channel in the early part of this week.

Attached Image (click to enlarge)

On the daily time frame, price action is sideways within the falling channel (blue) seen on the weekly time frame. Notice that price action is trading below a rising trendline (red) traceable to May 2019 to respect a recent outer rising trendline (magenta). A break-down of the outer trendline ( magenta) will likely result in a southward momentum which may target the 1438 horizontal support zone. Should the trendlne hold, we may see bulls take price action towards the channel resistance trendline or the 1534 horizontal resistance zone.

Attached Image (click to enlarge)

On the H4 time frame, a bullish pin bar and a hammer were printed in the last two sessions on Friday. Technically, this will likely see bulls take price action further northwards. However, the 1508/1518 zone (bound by green horizontal lines) is a horizontal resistance zone and may hinder a northward momentum.

Attached Image (click to enlarge)

I may be wrong. Trade safe and prosper.

KP

USDCAD Weekly Technical Outlook

The USDCAD market has been in consolidation for quite a while. On the weekly time frame, price action is operating within the horizontal channel spanning 1.29640/1.33310. Presently, price action is disposed negatively from the channel resistance and a bearish continuation candlestick was printed last week.

Attached Image (click to enlarge)

Price action is disposed southwards on the daily time frame. After a period of consolidation a few days ago, market operation has broken southwards with a strong bearish candlestick printed last week Thursday. However, there was no bearish follow-through on Friday as price action entered a minor horizontal support around 1.31360 and printed an indecision candlestick. Nevertheless, technicals on the daily time frame still favour bears. Meanwhile, price action has broken below a rising trendline (blue) traceable to September 1, 2017 but the break is not strong enough and we may see a retracement or sideways of price action before any significant bearish continuation.

Attached Image (click to enlarge)

I may be wrong. Trade safe and prosper.

KP

AUDUSD Weekly Technical Outlook

The AUDUSD market is generally disposed negatively. On the weekly time frame, market operation is grinding slowly along a falling channel (blue). However, the momentum is presently in favour of bulls as the market printed a long-tailed bullish candlestick last week. This was a follow-up to the bullish candlestick printed two weeks ago. We may see price action target the resistance trendline of the falling channel (blue) or the 0.70450 horizontal resistance.

Attached Image (click to enlarge)

Price action on the daily time frame is disposed northwards. However, price action is located just 35 pips below the 0.69000 horizontal resistance. The 0.70000 area is another horizontal resistance.

Attached Image (click to enlarge)

I may be wrong. Trade safe and prosper.

KP

EURUSD Weekly Technical Outlook

EURUSD price action on the weekly time frame is operating in a falling channel (blue). Presently, it located a few pips below the confluence of the 1.12100 horizontal resistance and the channel resistance trendline. Should bulls breach those resistance areas, bulls will have to contend with the horizontal resistance around 1.12820.

Attached Image (click to enlarge)

On the daily time frame, price action is about 50 pips below a major congestion zone, the 1.12100/1.14060 area. The momentum favours bulls to take price action further forwards but this is likely to be temporary in nature.

Attached Image (click to enlarge)

I may be wrong. Trade safe and prosper.

KP

Hi,

Here's my view of the week ahead.. Will be a busy week news wise, so will be sure to watch out.

AUDCAD - Bullish
WK1: Price seems to be forming a base (consolidation) after a decline in price and ranging at lower levels as seen by long lower shadows (wicks)
D1: Price ended the week with a break above the 21 and 55 SMA
D1: Price making a higher high
D1: Price currently at 38.2 Fibonacci level expect pull back from this level before upward movement
D1: Bollinger Band beginning to contract, usually signifies expansion and increase in volatility is due
H4: Price at Monthly CPP and resisted up to four times, expect price decline before rally
H1: Price now above moving averages in up trending order (20 > 50 > 200) which I see as technically bullish




AUDCHF - Bullish
WK1: Price has now made a higher low and I am now looking for a higher high close
D1: price has been making higher lows, but not yet making convincing higher high closes
D1: Price rising in line with ascending trend line
D1: Since 1 OCT price has been making ascending lows on 38.2% and 50% fib levels. I expect this to eventually continue upward to make a low on the 61.8 level
D1: Bollinger Band beginning to contract, usually signifies expansion and increase in volatility is due
D1: Price trading above the 21 and 55 SMA
H4: Price declined to just above the weekly and monthly central pivots - could be a potential area for bulls - prefer lower price, but await price action




AUDJPY - Bullish
WK1: Price made higher low
WK1: Price currently closed at the 23.6 Fib level.. Expect pull back before proceeding upward
WK1: Price closed above 21 SMA
D1: Price at upper Bollinger Band, expecting potential decline
D1: Price closed above 61.8 fib level which was previous resistance area
D1: RSI at 70 similar to last resistance price
D1: Price trading above the 21 and 55 SMA
H4: Price now above moving averages in up trending order (20 > 50 > 200) which I see as bullish
H4: Negative divergence on price vs. MACD histogram, expect price decline
H1: Price now above moving averages in up trending order (20 > 50 > 200) which I see as bullish




AUDUSD - Bullish
WK1: Price has made a double bottom
WK1: closed at 23.6% fib level.. Expect pull back before proceeding upward
D1: Price trading above the 21 and 55 SMA
D1: Price at upper Bollinger Band, expecting potential decline
D1: Positive divergence on price vs MACD lines
D1: Positive divergence on price vs RSI
D1: Price likely to be challenged at recent resistance area before moving upward
H4: Price now above moving averages in up trending order (20 > 50 > 200) which I see as bullish
H4: Price appears overextended - look for pullback toward daily 38.2% level or weekly/monthly CPP followed by price action long



CHFJPY - Bullish
WK1: Strong piercing line pattern at recent resistance area
WK1: Forceful break above 21 SMA
D1: RSI at 70 signalling potential oversold conditions
D1: Price at 61.8 Fib level
H4: Would like to see price decline to weekly CPP or weekly 23.6/daily 50% before looking for long positions




NZDUSD - Bullish
W1: Strong close above 21 SMA
W1: Strong closed at 23.6 fib level
D1: Price continuing upward after morning start candle pattern
D1: Price trading above the 21 and 55 SMA
D1: Price closed at 61.8% fib level - expect retrace before progressing upward
D1: Bollinger Band beginning to contract, usually signifies expansion and increase in volatility is due
H4: Price approaching monthly R1 and weekly R3 as potential resistance
H4: Look for retrace to around weekly CPP




USDCHF - Bearish
WK1: Strong bearish engulfing candle taking out 6 candles
D1: After three bearish candles, price stopped at 38.2 fib level
D1: 38.2 fib level potential support area as acted as strong support in SEPT
D1: MACD has crossed below signal line confirming bearishness
H4: Visibly looking at the chart shows a very sharp decline, would expect some pressure relief in the form of upward move or extended consolidation at the same price
H4: I would look for pull back toward the new weekly central pivot followed by price action to seek short positions