ICFX

ICFX

Watch how interest rates decisions set trends in EURUSD and Dollar Index impacting the entire forex market. I marked all the previous interest hike decisions by FED and ECB. 2023 EURUSD bullish reversal was triggerred by ECB starting to raise iterest rates (after EUR hit the alarming 1.00 level). EUR might continue bullish until next tow hikes. From what I read...

ICFX Updated 

Price is likely to continue moving in channel, as it reversed at 130 with gap breakout from downtrend. Next target is 140. Here we are using dynamic moving average support called VIDYA (Variable Dynamic Index) by Chande Tushar of 7 periods from daily, weekly and monthly, of the opens. Weekly candle closed above 135, another indication it will continue higher in...

ICFX

NZD is likely to fill price ineffciency / imbalance to the downside on weekly. It is also at resistance / former support which coincides with Kumo cloud resistance. FOR EDUCATIONAL PURPOSES ONLY.

ICFX

Price failed to establish itself above the important support / resistance level from weekly and monthly charts (the 2021 covid low). It also conicides with 21 Weekly VIDYA. VIDYA is a good dynamic support and resistance indicator. Last week´s candle retraced and closed below. This indicates bullush weakness. Price is likely to move lower. Also we look the...

ICFX

USDISK Daily Chart. Heikenashi Candles. Round Levels. For Educational Purposes Only.

ICFX

What is happening to Icelandic Krona? It is obvious that ISK, just as EUR, had been effected by the political and economic instabilities in Europe. ISK mirrrors EUR to a great extent. The key factor was the Russian Invasion of Ukraine and Russian attempts to intimidate EU Energy Market and overall proximity to Europe as Iceland is the member of European Economic...

ICFX

GBP is above 1.20. That is why I obstain from shorting it now. Its risky to short it for now. It is very strong support level. But price poked below it a few times (indicates weakness and future breakdown. The more price pokes through support the weaker it gets). Trendline breakdown with a strong bearish candle indicates move lower. So do also lower low and lower...

ICFX

If we look at weekly chart of EURUSD , we see a classical trendline retest (price nicely broke down the trendline in April 2022, with a valid breakdown after Tom Demark criteria). Price is likely to continue bearish next months. Tom Demark breakdown projection sends us below 1.00. Price also failed to establish itself in the yearly bull zone - above yearly...

ICFX

See how price reacts at 1000 pips increments (1, 1.10, 1.20, 1.30) and their quarters (1.25, 1.05, 1.075 and so on). The reaction at those levels is nearly guaranteed. Once price hit 1.10 recently, we saw a pullback of 350 pips to the downside. Those psychological levels will be highly useful to any trader. They work well on majors (USD baed pairs), less so on...

ICFX

Swiss Frank, GBP and EUR are to weaken...Big Price Imbalance on USDCHF chart reveals that USD is abot to get stronger. Price is back to stabilize and fill the massive inefficiency left behind. Such instable rapid falls tend to be covered. Price will return back to the point of release. Reaction at major round numbers point to that as well. For educational...

ICFX Updated 

Bullish trend is likely to continue after tomorrow´s retracement, as we had pretty thin run (inefficiency) which tend to be filled. It is hard to pinpoint where to to enter upon a retracement (might be up to 100 pips), considering tomorrow´s volatility due to the ECB rates hike decision. Current dollar weakness is driven by the rise of American stock market (US30...

ICFX

We are approching very important level...1.00 psychological number We also reached yearly DEMA (240 Daily DEMA / 1440 4hrs DEMA). Double Exp. MA (DEMA) is one of the best tools to capture trends. The question is if price wlill break it and starts trending above or will reject from it. We will for sure see a minor rejection at least. But I suspect a breakout (as we...

ICFX Updated 

Price is likely to return to weekly close. As we had trendline breakout. We closed back below monthly close Have significant unfilled (completely) price imblances (gaps aka skinny legs) to the downside Current sentiment is 60 bullish to 39 bearish - bullish trend cotinuation unlikely (for that bearish sentiment has to be above 70 / contrarian approach) Rejection...

ICFX Updated 

This might be good buying opportynity as price showed bullish reaction at yearly floor - S4. FOR EDUCATIONAL PURPOSES ONLY

ICFX Updated 

Today we saw a clear rejection from Monthly Open. For any bullish setup on 4 hourly price preferably be above that. We saw extensive congestion below weekly low. Price was unable to travel up from there (with a few poor bullish breakouts tha quickly faded). 4 hourly fractal is not completed yet, hence push to the downside is very likely. Also, we have not tested...

ICFX

Price is likely to reach Monthly Camarilla S3 level, where it would also complete the fractal and fill three existing inefficiencies to the downside with minor bullish reactions at their releasing points. Price will use the thin existing gap (between the two Kumo clouds) to break down. Price wis likely to retest the trendline / 8 daily vwma after the trendline...

ICFX

It looks like the bearish move is not over yet. Price is likely to reach Classic S3. The big question is where the downfall will stop. Yearly Classic S3 or Yearly Traditional S3. Price action around Traditional S3 shows weakness. Price is likely to continue lower and bottom at Classic S3 or swing below it (where Tom Demark Breakout Projection sends us). Reaching...

ICFX

Price is likely to test monthly S4 where we usually see a rejection midway to S5. 8 VWMA is likely to be tested too. So the bullish move is not over yet. I would short upon the S4/daily 8 VWMA retest. Right now EURUSD sentiment is nearly 50/50, not good for trading - www.myfxbook.com Overwhelmingly long sentiment means look for shorts and vice versa. Current...