ForexGoldenBoy

ForexGoldenBoy

Horizontal bullish resistance could lead prices to start falling again, creating a new downtrend line, the second contact point of which may be in the process of being formed. If confirmed, a reversal is not impossible.

ForexGoldenBoy

1. Prices break support to the upside 2. Prices make a bearish pullback 3. Prices rebound upwards Conclusion: Bullish figure, continuation not impossible

ForexGoldenBoy Updated 

My presumed scenario is that a downtrend line continues to push prices lower, so it's not crazy to consider a breakout of the previous downside resistance level next. In the event of this hypothesis succeeding, I'm considering a "greedy" TP at 162.00 for glory.

ForexGoldenBoy Updated 

My presumed scenario is that this bullish resistance acts as a polarity zone. That is, it marks the market's transition from an uptrend to a downtrend. The bearish breakout occurred on volumes worthy of this hypothesis. If confirmed, prices could plunge lower. 162.67 seems a reasonable technical target to start with.

ForexGoldenBoy Updated 

My presumed scenario is that bearish resistance is forming on the pair. The rebound is taking place on volumes worthy of this hypothesis. If confirmed, resistance would become the new upper bound of the downtrend channel started on February 20, and the pair could plunge straight to my TP, which is none other than the channel's lower bound!

ForexGoldenBoy

The polarity is clear The bullish resistance of yesteryear seems to have become bearish resistance Prices seem to be struggling to break back below it and if this persists, prices may well end up rising again

ForexGoldenBoy

Previously, in October and July, this bearish resistance drove up prices. today, prices are back on that same bearish resistance and, as on the two previous occasions, i think prices can bounce back up once again. The bearish rejection movements occurring at the contact point seem to confirm this hypothesis.

ForexGoldenBoy

This bullish support has few bounces to its credit. However, the uptrend is clear And while a 3rd contact seemed imminent prices reacted with a bullish rally that led the candle to close on a wick. I can see the pair rebounding upwards

ForexGoldenBoy

Trend line perfectly touches all 3 contact points Two previous rebounds have taken place on this bearish support. A third seems to be on the way. I think this pair could head back down in the coming days.

ForexGoldenBoy

Buyers have found bullish resistance Prices are bouncing back downwards This level has already been decisive in the past particularly in July I think prices could fall in the coming days

ForexGoldenBoy

The underlying trend is bearish A price rising attempt has been stuck buy a bullish resistance It's a double bearish configuration This could be an advantage for sellers

ForexGoldenBoy

A bullish trendline seems to be under construction Prices looks like they are rebounding yet If this come true, it is a bullish configuration So CADJPPY is likely to rise back soon I buy the pair

ForexGoldenBoy

In the short term the pair is on a bullish support So in a bullish underlying trend This is a bullish configuration I buy the pair

ForexGoldenBoy

Once again, bullish resistance was breached. Prices closed above it This is a bullish default configuration. With a pullback or not , prices could soon mark new highs.

ForexGoldenBoy

Buyers attack resistance at 1.2564 Prices have closed above it, so the breakout is validated. In theory, this is a bullish continuation configuration

ForexGoldenBoy

The pair has just broken through bullish resistance A pullback is already underway In theory, in this configuration, the rise could continue. As it has been the case in the past

ForexGoldenBoy

Prices are falling the underlying trend is bearish But a bullish retracement is underway expect to see prices soon resume their decline

ForexGoldenBoy

Prices form an ascending triangle In theory, this is a bullish continuation pattern. The pattern is not yet fully validated. Nevertheless, I've also noted the breakout of upward resistance at 0.8974 This is also a bullish continuation pattern. For me, a bullish continuation is likely. That's why I bought the pair.