FTMO

FTMO

Hello Traders, we noticed a very clear Head and Shoulder of inversion on the EURGBP. Trading volumes slightly decreasing also confirm the bullish exhaustion and the bearish scenario becoming more likely. The 0.886 level, which is the neckline of the H&S is now being broken. We would wait a more wide movement to the downside to reduce at minimum the risk of...

FTMO

This chart shows another shorting opportunity for the Swiss Franc, with respect to the British Pound. It is a longer trade than the previous one as the timeframe is daily. There are also two different targets and strategies that can be applied, depending on how much time you can wait for the realization of the scenario. We see a very nice confluence of...

FTMO

Hello Traders, we signal a nice Head & Shoulder of continuation of the trend up for NZDCHF. The target for the pattern is 0.65. An aggressive entry would consist in entering now, at the retest of the horizontal line which correspond to the previous top. A more conservative approach would be to wait for the retest of the neckline of the Head & Shoulder. This...

FTMO

Hello Traders and welcome to the first idea of 2021. As usual, the first days and weeks of the year are poor of big movements. However, we noticed this nice signal from XAU. The trend is bearish and the price fell below the 200 Moving Average daily once again (1841). We also are below the lowest retracement level of the last leg up (1838), which seems just as a...

FTMO

Hello Traders, USDJPY seems to continue its downtrend. At the moment the price is below the psychological level of 104 and, most importantly, below the POC (point of control) which shows where the "battle" between buyers and sellers has been played with respect to the last movement. Battle that was A very important signal is also given by the fact that none of...

FTMO

Interestingly, Oil is ranging in the channel 34$-43$ that corresponds to the downside gap in the price experienced in March. Since when those levels were reached back, the price is moving inside the range. We believe that until no relevant news or until the situation will stay at this uncertainty stage globally about the pandemic, there is no way we are seeing the...

FTMO

Hello Traders, CHFEUR is showing a similar pattern. The wedge is much more extended in this case, and the pair has to make a move to break it in one way or another. The violent bearish reaction the pair experienced after touching the dynamic resistance tells us that the priority is downward. However, the trendline has not been broken. An aggressive entry can be as...

FTMO

Hello Traders, one of the few currency pairs not ranging within a channel at the moment is EURCZK. We are currently below a dynamic trendline holding since February, in a steep bearish movement for EUR since the upper resistance was hit at the end of October. The retest already took place, and we think the two targets for the following days/weeks are 26.00 (a...

FTMO

Hello traders, gold is experiencing the same situation as the SPX index in the related idea in the link below. As we can see, the correlation between Gold and US Equities has been high during the last month, showing a coefficient above 60%. This relation is even higher on a weekly timeframe, where the coefficient. Despite the graphical patterns being different,...

FTMO

Dear traders, the SPX recently broke the ascending trendline and, after retesting it, fell below the 100 moving average that acted as a support twice after the March fall, exactly on the top of the Fibonacci retracement area (yellow box). This is not a random level, as the market precisely set itself on a crucial level waiting for the next week results, before...

FTMO

USD/CHF currently consolidating at support. This tends to be a bearish sign as the level gets weaker and weaker with more tests. Once the level is broken, we can trade the retest targeting another area of support below. Be aware of today's ECB Conference that can bring a high amount of volatility.

FTMO

Euro broke down from the prior range area. We expect a rally back to the resistance prior to ECB on Thursday. A 1.8070 level than should provide a short opportunity on a retest.

FTMO

Yesterday we had a very range-bound session in the Gold but if you look closely you will notice that value moved higher during the day. That led to an overnight rally which stopped at weekly PP. The overnight highs show us poor structure which has a high probability of correcting. This 1913 area will play a key role in today's session. Important...

FTMO

After Friday tested the previous vwap and sold off later in the session, we lean more towards continuation lower at the beginning of the session. 1892 will play a crucial role in further price development. If it fails to hold we can expect continuation lower, on the other hand, if the buyers step in we can expect movement to the upside back to 1912 area. ...

FTMO

Last day of rather a slow week fo gold. After the current high of the week was reached on Wednesday, the new low of the week was made yesterday. This sort of balance can lead us a both was before markets will close today. Fortunately, we have a well-determined structure with first resistance in 1910 and support in 1903. If the market probes and accept...

FTMO

Our prediction played out perfectly yesterday. We tested 1925 as support and rallied straight to 1935 where we have found high of the day. During the overnight session, Gold wasn't able to hold the 1925 level and currently is trading at weekly VWAP. By looking at structure 1925 will play a key role in today's session as well. If we manage to break it and...

FTMO

After an initial rejection from the weekly wvap which was our resistance level, Gold held the strength and moved higher. As we have rallied over 1918 which was a key resistance level and accepted above, we are looking for continuation today to 1925 and 1935 that are higher levels of resistance. 1918 will be once again a key level of support, if we start losing...

FTMO

As Gold made an attempt to break the resistance we have mentioned in yesterday's analysis but failed to sustain the momentum. We could have seen the rapid selloff later in the session which continued all the way down to the 1900 area we pointed out yesterday. The 1900 level will play the key role as a support and if it breaks we can expect continuation...