Forex Market Commentary 59
A bearish rejection candle has formed as the EURCAD market rejected moves higher into a proven resistance level on the daily time frame last session. The level rejected was a previous swing high, and the candle closed lower than it’s open price given the setup that extra bit of bearish attitude.A breakout entry might be the most prudent […]
The EURAUD cross pair has been churning sideways for some time now, and has been printing meaningless, confusing price action. The last few daily candles have printed some price action that suggests the market is ready to move lower from here. We’re seeing lots of upper wicks on the daily candles as price reacts with […]
The AUDUSD daily chart has been experiencing some high churning sideways action during the last few weeks of trading. Although the market looks very congested at the moment there does look like an emerging chart pattern here. The situation is simple, the market is having trouble moving past an overhead resistance level. All attempted […]
We’re well into the ‘Summer Trading’ season now, and a lot of the markets are experiencing low volatility trading conditions. Summer trading is where you generally see volatility really thin out and the markets come to a grinding halt. Considering there have been rumours floating around that we’re in the middle of a ‘volatility drought’, with […]
The GBPJPY has been stepping downward within a larger range-bound container, all clearly visible on the daily chart. The bearish price action has guided price back to the bottom of the range support. Last session the market made that final move down to test the actual range bottom where we seen a significant increase in […]
Today I would like to review a setup which was shared in our War Room ‘Chart of the Day’ section. The AUDCAD produced a long wick rejection candle which demonstrated a bullish breakout trap as the market tried to rally past resistance. Looks like a longer term classic bearish head and shoulders pattern forming on the AUDCAD. Last […]
Today I wanted to draw your attention to the GBPNZD cross pair, which has sparked up much conversation in our Forex War Room chat. The market is started to recover from a lengthy downtrend, the bearish momentum recently died off and caused the market to consolidate for a few weeks. A resistance level which was […]
It seems the markets have taken pause ahead of the Easter break, there isn’t much activity across the currencies as most markets remain flat with the weekly candles showing indecision. These stale, low volatility markets can be frustrating for traders but it’s where you must demonstrate the highest levels of discipline. EURUSD very flat at […]
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- Graham Blackmore said Everything is going to look fast moving on the 5 m...
- Leonel Ruiz said I used to trade the Emini but i found it a very f...
- Radi Cholakov (@RadiSpeculant) said Looking really intresting