onepipatatime

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GBPJPY "WOW" CANDLE THREATENED
That's just how this cross behaves. One day you have this huge "wow" red candle that seemingly has no end and then she bounces off support (126.819) and almost retraces the full length of the tall red candle. Short term resistance is still at 129.527 and as long as this area holds, daily chart remains bearish - so the question is whether the bulls still have enough momentum to bust through the entire resistance zone from 129.527 to 130.129 or if they're about ready to run out of steam? So far, on a technical level, this bullish move can only be treated as a bullish retracement in a bearish market. Should we get a close above 130.129, then bulls will be king again. See picture for relevant levels.

EURAUD BULLS BANGING ON RESISTANCE
On an intraday level, price has repeatedly banged on the 1.24903 resistance area. Short term support has moved to 1.23901 and as long as this area holds, resistance will be challenged until either short term support or resistance gives way. See picture for relevant levels

AUDUSD BULLISH RETRACEMENT NOT A THREAT TO BEARS YET
Short term resistance is still at 1.06928 area and as long as this area holds, bears remain in control. It is a little disconcerting though that bullish retracement has managed to close above the 1.05962/06279 zone. This could add power to bullish momentum and lead to short term resistance being challenged. Should we get a close above short term resistance, then my outlook will become bullish again. See picture for levels of importance.

BULLISH CANDLE ON EURUSD - can they do it?
Hi folks, I was unable to post an analysis yesterday. EURUSD completed an harami on minor support at 1.3076. I did not mention it in previous analysis because I didn't think it would be as influential as 1.3025 area but just goes to show, everything is important. After completing the harami, EURUSD bulls got the courage to stampede right through short term resistance at 1.32427. This close above short term resistance is significant for the bulls. If price can stay above this resistance, now potential support, bulls will once again have a shot at 1.34611. However, should this attempt collapse and we get a close below 1.32427 area, bears will once again be in control. So, short term bias is bullish again, but long term bias remains bearish as long as price remains below 200ma. See picture for levels. Just a note: by the end of this week, traders will be able to sign up for free forex trade signals from this website. Trade results that are updated in delayed real time will also be available by the end of the week.

 

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TECHNICAL ANALYSIS AND TRADE RESULTS

HIGHWAVE SPINNING TOP ON GBPJPY FORMING POSSIBLE DOUBLE TOP
Well, short term resistance and resistance zone as a whole, mentioned yesterday, stood its ground today as price penetrated it but eventually closed below it completing a highwave spinning top which is a potential reversal pattern. Also, it has formed on the same resistance that previous spinning top and hanging man formed leading me to think that we might be dealing with a potential double top here. Highwave spinning top did make a higher close, so bulls still have something but as long as resistance zone holds, price will be forced back down towards support at 126.819. So, in spite of significant bullish retracement, the pressure is still bearish for now. Should resistance zone break way, then bulls will be back... Read more and see chart here.


MESSY DARK CLOUD ON EURAUD
Price completed a rather messy looking dark cloud against 1.24903 resistance today. This could be a bearish signal; however, today's candle failed to close below short term support which means the bias is still to the upside which could lead to yet another encounter with resistance at 1.24903. So far this resistance has proved to be made of concrete - it's taken a lot of punishment from the bulls this week but has stood it's ground. Either this resistance or short term support have to give before price can run again. Read more and see chart here.


AUDUSD DARK CLOUD CONFIRMING TALL RED CANDLE
Three days ago, audusd price completed a tall red candle landing on support at 1.05253 which in turn caused a bounce up towards top of tall red candle. However, the high of that candle has held and today, price completed a dark cloud pattern, confirming the resillience of the tall red candle and suggesting further downward pressure for a retest of 1.05253 and should it break, an attempt at getting to support zone of 1.0427 - 1.0378. Short term resistance is now at 1.06711. Read more and see chart here.


EURUSD BEARISH ENGULFING BOUNCING OFF PREVIOUS SUPPORT
Well, to answer my question of yesterday, they (the bulls) couldn't do it.... After closing above short term resistance, they totally ran out of steam and price just plummeted back down to 1.3076 support before closing today, completing another bearish engulfing pattern. So, short term resistance is still relevant and bears are still king!!!! What a crazy ride this week, but lots of fun. See trade results here. The fact that we have a tall red candle landing on support today could create a bit of a bounce up on Sunday; however, as long as short term resistance holds, price will attempt to penetrate through support zone 1.3076 - 1.29732 in an attempt to get to 1.28743 area and even 1.26649 - 1.26229 area. Read more and see chart here.

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[INCUMUNLTD]

TECHNICAL ANALYSIS AND TRADE RESULTS

EURUSD BOUNCE OFF SUPPORT

I wrote on Friday evening, " The fact that we have a tall red candle landing on support today could create a bit of a bounce up on Sunday; however, as long as short term resistance holds, price will attempt to penetrate through support zone 1.3076 - 1.29732 in an attempt to get to 1.28743 area and even 1.26649 - 1.26229 area." We got that bounce on Sunday and so far nothing that I wrote has changed. In the meantime I have taken advantage of the bounce for a buy.
Read more and see chart here.

AUDUSD LONG WICK ON SUPPORT

After completing dark cloud mentioned in Friday's analysis, price fell further, once again challenging support at 1.05253 and actually penetrating it quite far trying its best to reach support zone but not quite making it before receding back to 1.05253 support ending with a long wick which means bulls made a concerted effort to stop this bearish move. Short term resistance is now at 1.05812 and with the formation of today's wick on support, it is very possible that bulls are going to challenge this short term resistance. However, as long as it holds, bears will try to push for support zone again. Should short term resistance give way, then bulls will try to make a run for it again.
Read more and see chart here


HIGH OF EURAUD DARK CLOUD BARELY HOLDING ON

Price closed above 1.24903 resistance today but didn't quite get it right to close above high of dark cloud mentioned in yesterday's analysis. However, because short term support is still in tact, it is very possible that bulls are going to anihalate high of dark cloud and gun for 1.26200. Should dark cloud high hold though, then we will see a retest of short term support but as long as this support remains in tact, bulls have the advantage.
Read more and see chart here

GBPJPY HIGH WAVE SPINNING TOP STILL HANGING IN THERE

Nothing has changed since Friday's analysis.
Read more and see chart here.

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TALL BLUE CANDLE ON GBPJPY CLOSES ABOVE RESISTANCE ZONE

Well, price negated the double top idea from previous analysis today with a tall blue candle closing above the resistance zone. It's not a very significant close, so it remains to be seen whether bulls can hang in there. Next resistance is at 130.867 should the bulls gain momentum. Short term support is at 129.527 and as long as it holds, the bias is up.
Read more and see chart here.

MESSY EURAUD DARK CLOUD GOT PUNCH AFTERALL

Well, messy or not (refer to yesterday's analysis), the high of dark cloud held and what do you know? Today price completed yet another dark cloud. Will price finally get a move on and go for support at 1.22605 or are we going to have some more whiplash? Short term support still holding on and therfore bias is still bullish - we need a close below short term support for our dark clouds to be confirmed.
Read more and see chart here.

POTENTIAL PIERCING PATTERN ON AUDUSUD

Price completed a potential piercing pattern on audusd today; however, we need a close above short term resistance for a confirmation. In the meantime, as long as short term resistance holds, pressure remains down.
Read more and see chart here.

EURUSD BEARS DRILLING DOWN INTO THE ZONE

100ma slowly pushing price down into support zone mentioned in yesterday's analysis. This is an important zone. Should this zone give way, then we'll see 1.28743 and even 1.26229 in short order. Short term resistance has moved down to 1.31928 and as long as this resistance holds, support zone is under attack. Should we get a close above this resistance, then bulls will try to make a break for it again.
Read more and see chart here.

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EURUSD PIERCING PATTERN CAUSED FOLLOW-THROUGH TODAY - 1.3025 made of cement so far

1.3025 is still king of supports!!!! After forcing price to complete a piercing pattern on it yesterday, it ,the pattern, became the lauch pad today for bulls to fly ... all the way up to next resistance @ 1.31928. As long as short term resistance, now support holds and price remains above it, bulls are in control. One fact to note though... read more and see chart here.


AUDUSD PIERCING PATTERN ALSO DOES THE LAUNCH PAD THING

Piercing pattern on support zone mentioned in yesterday's analysis, did what it had to do to get away from the heat of those moving averages. Even though price had to contend with short term resistance, it busted through and stopped on next resistance. This one has a tough road to navigate though because above it it has a daunting resistance zone and below it it has a daunting support zone. Are we first going to... read more and see chart here

OFFICIAL EURAUD PING PONG GAME WITH NEITHER PLAYER TIRING
Back and forth, back and forth, ping pong, ping pong, up down, up down, ... It hasn't been too bad for bounce trades though. Short term support is not giving up it's hold on price but then again, neither is resistance right above. Price is forming.... read more and see chart here.

GBPJPY REACHES NEXT RESISTANCE
Gbpjpy bulls are on a roll reach next resistance at 132.358. Short term support has moved to 130.891 and as long as price remains above it, bulls remain on a roll. If they can get through this resistance, the next level of interest is 134.085. Should we... read more and see chart here.

SEE TRADE RESULTS HERE​

 

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EURUSD APPROACHING SIGNIFICANT RESISTANCE AREA

All the way up from where price closed today till 1.32924 area is significant as a resistance zone. Piercing pattern has done well to send price up but now bulls have to show what they're made of. Short term support has moved to 1.31407 and ... read more and see chart here.


AUDUSD FORMED A SPINNING TOP ON RESISTANCE 1.06301 - HESITATION OR TURN SIGNAL?

Spinning tops are signs of loss of momentum and that loss of momentum especially if spinning top forms on resistance or support, can signify a potential reversal coming up. However, spinning tops can also just be a temporary pause before price continues in the direction it was going before the spinning top was formed. Short term support is at 1.05569 and... read more and see chart here.

EURAUD STILL PLAYING PING PONG - THIS TIME RESISTANCE UNDER ATTACK

Nothing has changed since previous analysis. Short term support not giving up its ground so once again, resistance under attack. Either support or resistance has to give... read more and see chart here.

USDCHF APPROACHING MAJOR SUPPORT AREA

Do the bears have what it takes to keep on drilling through this support area. Short term resistance is at 0.91794 and as long as this area holds,... read more and see chart here.


GBPJPY KNOCKING ON 132.358 - HOW MUCH FURTHER WILL IT GO?

Gbpjpy price closed on 132.358 today. Should it break through this area, next target is 134.085. Short term support has moved to 131.436 and as long as this area holds,... read more and see chart here.

 

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EURUSD BOUNCING OFF SUPPORT

Today price retraced down and tested 100ma and 1.31407 support before bouncing back up. The fact that this support area held and short term support still ... read more and see chart here.

AUDUSD SPINNING TOP REVERSAL

As I mentioned in yesterday's analysis, the spinning top that price completed yesterday could possibly be a reversal signal and the confirmation came today when price closed below short term support; however, not only did it close below short term support... read more and see chart here.

EURAUD IMPRESSIVE BREAK-OUT TO THE UPSIDE TODAY

Ping Pong game finally ended with an impressive slam right into 1.25483 resistance area. Short term support has moved up to 1.24619 and as long as price remains above it, we can see... read more and see chart here.

COULD GBPJPY BULLS BE GETTING TIRED
Price closed above 132.358 resistance today, but it's not a very convincing close. Tiny candle. Do the bulls have enough momentum to make it to next resistance or are they getting tired? Short term support has moved to 132.240 and as long as price... read more and see chart here.

 

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EURUSD POTENTIAL COMPLEX HEAD AND SHOULDER PATTERN

As I have stated in the past couple of days' analyses, EURUSD is facing some heavy resistance here and the question is still in my mind - do the bulls have what it takes to bust through this resistance? Short term support is still at 1.31407 and as long as price remains above this area, the bulls still have the advantage. However, it is also very possible that price is busy grinding out the second shoulder of a complex head and shoulder pattern - complex because... read more and see chart here.

AUDUSD SPINNING TOP AGAIN

A couple of days ago, audusd price completed a spinning top against resistance which sent price tumbling down and today we have yet another spinning top, this time on support. Could this be yet another reversal - at the very least, it's probably going to cause a bounce to the upside. short term support which has now become resistance is at 1.05289 and as long as price remains below it, we could see another push to the downside. Should price move... read more and see chart here.

EURAUD SPINNING TOP/SHOOTING STAR

Price tried to reach 100ma today but couldn't quite make it before receeding and forming a spinning top/shooting star on former resistance area (1.25483). This is a sign of bulls running out of steam and should price fall below short term support which is now at 1.26084 and sustain momentum below it, bears could... read more and see chart here.

USDCHF SPINNING TOPS

Yesterday price completed an harami and today price completed a high wave spinning top, both on support. Once again, with spinning tops, they can either signal reversal or they can just be temporary resting places before price continues in the direction it was going before the spinning top formed. Short term resistance is at 0.91794 and as long as price remains... read more and see chart here.

GBPJPY SHOOTING STAR

Today price tried its best to get to next target at 134.085 but just couldn't make it and eventually settled for a shooting star. However, price failed to close below short term support which means that shooting star has not yet been confirmed which means that bias is still to the upside and it's very possible that price could try to retest the high of shooting star and even ... read more and see chart here.