#EURCAD: Detailed Technical Outlook Here is the wave analysis for ⚠️EURCAD. The market is currently consolidating with a horizontal trading range on a weekly, after a strong bullish impulse. 1.46 - 1.465 is the resistance of the range, 1.423 - 1.43 is its support. The upper boundary of the range matches perfectly with a key weekly resistance. Depending on the reaction of the price to the boundaries of the range, I see 2 potential scenarios: If the price breaks and closes above the resistance of the range, one more bullish wave will be expected. While, a bearish breakout of the support of the range will most likely initiate a correctional movement. Wait for a breakout and then follow the market.
#GBPJPY: Classic Trend Following GBPJPY remains very bullish from the beginning of the year. After the last impulsive movement, the market retraced to a peculiar confluence zone. I see a perfect match between 0.5 retracement of the last bullish leg and a horizontal structure support. I will expect a pullback from that to 165.0 / 165.7 vwap mt4 indicator
#USDCHF: Detailed Structure Analysis Here is my latest structure analysis for ⚠️USDCHF. Support 1: 0.928 - 0.933 area Support 2: 0.922 - 0.923 area Support 3: 0.9137 - 0.916 area Resistance 1: 0.942 - 0.946 area Resistance 2: 0.954 - 0.955 area Consider these structure for pullback/breakout trading.
Dow Jones Index (#US30): Oversold Market & Pullback Dow Jones Index reached a key level. Testing that, the price formed an inverted head & shoulders pattern on an hourly time frame and broke a resistance line of a falling wedge pattern then. I expect a pullback now. Goals: 32950 / 33110
Crude Oil (#WTI): Bearish Outlook Explained Crude Oil is coiling on a key horizontal resistance. The price formed a double top pattern, testing that and broke its neckline then. We may see a retracement from the underlined blue zone. Goals: 76.9 / 76.36
#EURCAD: Important Breakout EURCAD broke and closed above a major horizontal supply cluster with a high momentum bullish candle yesterday. 1.441 - 1.446 is now turned into a demand zone. I will expect a bullish wave from that area to 1.455 / 1.46 levels.
#CADCHF: Bearish Move From Key Level It looks like CADCHF may drop. The price reached a solid horizontal resistance and formed a tiny double top pattern on an hourly time frame. Now we see a strong bearish pressure. I expect a bearish continuation to 0.6913 / 0.6905
#GBPCAD: Your Trading Plan For Today ⚠️GBPCAD is coiling on a key level. I see a horizontal trading range on 1H time frame. 1.6263 - 1.6274 is its neckline. Wait for its bullish breakout (hourly candle close above). It will be your confirmation to buy. Open long aggressively or on a retest then. Goals will be 1.6307 / 1.633 If the price sets a new lower low, the setup will become invalid.
#NZDCAD: Bullish Outlook Explained NZDCAD is taking off from a key horizontal support. The price formed a double bottom on that and broke its neckline then. I expect a bullish continuation to 0.851 / 0.854
Gold (#XAUUSD): Key Levels to Watch This Week Here is my latest structure analysis for ⚠️Gold. Support 1: 1843 - 1853 area Support 2: 1804 - 1811 area Resistance 1: 1875 - 1904 area Resistance 2: 1950 - 1959 area Consider these structures for pullback/breakout trading next week. Best MT4 Indicators