Tag Archives: reversal


Potential Forex Reversal Pattern on AUDCAD

Potential Forex Reversal Pattern on AUDCAD

AUDCAD seems to be done with its downtrend as a forex reversal pattern can be seen on its 4-hour forex chart. The pair failed in its recent attempts to break below the 0.9500 major psychological support and could test the neckline of the double bottom formation around the .9700 major psychological resistance. Stochastic is still

EURGBP Double Top FX Reversal Pattern

EURGBP could be in for a selloff, as double top FX reversal pattern formed on its 1-hour chart. The pair has already broken below the neckline around the .7250 minor psychological support and might be in for more losses. However, stochastic is already indicating oversold conditions, which means that euro sellers are exhausted. This could

EURNZD Short-Term Forex Market Reversal Pattern

EURNZD’s recent forex market downtrend might soon be over, as the pair formed a reversal pattern on its 4-hour chart. The pair has yet to break above the resistance levels around the neckline of the double bottom and the longer-term exponential moving average before confirming the uptrend. Stochastic is already indicating overbought conditions, which suggest

24 Mar: Dollar continues last weeks reversal ahead of today’s US CPI. Global flash PMI’s coming up.

The dollar remains under pressure today, as the follow through from last weeks FOMC meeting continues to dominate the action on the back of the growing view that any Fed rate hike is likely to come later rather than sooner. Commodities rose, while equities are slightly lower. Today will be busy, with the focus to be on

Dollar reversal

The minutes of the January FOMC meeting appears to show a committee looking to keep rates lower for longer. This took the market by surprise and put the dollar on the back-foot. This came in the wake of the latest labour market data, which also showed better data for earnings. The other thing that came

EURUSD: How To Spot Intraday Reversal

Our Services Video Tour        |           Subscribe to our newsletter May 16 2014 How we identified a short-term reversal/suppport zone on EURUSD after sharp drop of more than 300 pips!? With the Elliott Wave model; fifth wave down suggested a bounce in price Triangle pattern; it occurs prior to the final wave in

EURUSD: New Bearish Reversal Can Be Coming

Our Services Video Tour        |           Subscribe to our newsletter Oct 21 2014 EURUSD is up, and it seems to be underway to 1.2930/1.2950 resistance, but overlaping price action, Fibonacci equality level and channel resistance suggests that upside is limited as whole rally from 1.2500 has a corrective look. Therefore, traders must be

Today’s Trading Edge: EUR/AUD bearish reversal may accelerate on Greek Election worries

The EUR/AUD daily chart shown above displays a bearish ABCD pattern that formed on December 17th.  The current bearish reversal accelerated its slide today after the Greek government failed to secure enough votes to elect its presidential candidate.  Greece will now have snap elections on January 25th and this may create uncertainty regarding future Greek

Forex: Ideas You Can Trade – USDJPY Sharp Reversal From 117.00

USDJPY: Pair Reverses Sharply After Testing Resistance Near 117.00 The daily candle chart below shows the medium term price history of the United States Dollar (USD) versus the Japanese Yen (JPY), known as USDJPY, and trading around 116.48 around time of publication today.  Last time USDJPY was reviewed int he Ideas You Can Trade series,

Today’s Trading Edge: Gold May have Formed Two Key Bullish Reversal Patterns

Gold prices are attempting to rebound after making a low last night at $ 1183.30.  This 15-month low may have also formed both a triple-bottom pattern and a bullish butterfly pattern.  The precipitous weakness hitting the yellow metal may be overdue for a short-covering rally.     Gold has now erased all of its gains for