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Post by Admin on Jan 10, 2021 11:15:14 GMT
Week of 11-Jan
USDZAR: Bottom appears to be in for now. Support between the Weekly Pivot @ 15.08 and the Monthly Pivot @ 14.88 (which also coincides with the 61.8 Fib retracement level). The next targets are between the Weekly R1 @ 15.67 and the Monthly R2 @ 15.84 (where it will also meet resistance from the Daily 100 SMA.
EURUSD: Struggling to maintain bullish momentum with a pullback to support near the Monthly Pivot @ 1.215 likely. The weekly Pivot @ 1.225 will become resistance and could see price consolidate in this range until a breakout occurs. This range is also outlined by the 4H 100 and 200 SMA's. Bullish breakout targets include the Monthly R1 @ 1.237
GBPUSD: Fading momentum is seeing wedge support being tested with a break setting up possible bearish targets near the Monthly S1 @ 1.330 with interim support @ the Weekly S2 @ 1.342. If however price can break back above diagonal resistance it will target upper wedge resistance near the Weekly R2 @ 1.376
AUDUSD: The overall bullish trend remains intact with a break of the consolidation range between 0.772 and 0.781 to be closely watched for a breakout. The bullish target would be near the Weekly R2 @ 0.792 and the bearish target near support around 0.763
NASDAQ: Currently trading up against resistance from the Monthly R1 @ 13149. The next area of resistance can be fouund at the Weekly R1 @ 13350. Immediate support is the Weekly Pivot @ 12930 with a break below it setting up a correction to support near the Monthly Pivot @ 12700
Brent Crude: The oil rally is still building momentum and it is possible that the bullish run remains undeterred until resistance near the Weekly R1 @ 58.15. Immediate support is the Weekly Pivot @ 54.40 with a break below likely followed by support @ 52.50 (WS1)
Gold: After an initial break from long term diagonal resistance gold was aggressively sold-off back to the Daily 200 SMA around 1830. Proper support does still lie slightly lower @ 1810 meaning the sell-off might still see another leg down, In the event of a pullback, resistance @ 1880 will likely be the key level. The breakout target remains around major resistance @ 2075
Bitcoin: The king of crypto continuing it's journey to the moon already breaking through the Yearly R1 Pivot @ 37500 and setting it's sights on the next resistance levels @ 45k (MR3) and 46k (YR2). Concerning support levels in descending order they are, 35k (MR1), 25k (MP), 20k (YP), 14k (MS2)
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Post by Sean on Jan 10, 2021 11:23:35 GMT
Thanks, this is great!
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Post by Admin on Jan 18, 2021 9:36:32 GMT
Week of 18-Januarie:
USDZAR: Our support (WP) and Resistance (WR1) worked out perfectly last week. Strong rejection from the MR1 and 4H 50SMA could indicate downside if price cannot close back above the new WP @ 15.30. If price breaks below Support from the new WS1 @ 14.94 (4H 100SMA) then a larger move down to the WS2 @ 14.66 is quite possible. Initial resistance will be the WR1 @ 15.85 with the Monthly R2 @ 15.84 further resistance following a breakout.
EURUSD: As mentioned in our analysis last week we ended up seeing a pullback to the MP, this was followed by a break lower which appears to be targeting the HnS target @ 1.19745 (WS2). The MP @ 1.215 now becomes resistance.
GBPUSD: Last week saw the 4H 200 SMA acting as perfect support with Friday's close seeing a test of the 4H 100 SMA (also the new WP). If this level fails the 4H 200 SMA will very likely be re-tested near the MP @ 1.349 with a break below that possibly testing lower channel support. If the WP holds a break higher could see resistance from the WR1 @ 1.371 tested followed by the upper channel boundary if it breaks even higher.
AUDUSD: Generally the bullish trend still remains intact with the 4H 100 SMA offering support. The consolidation range has now expanded meaning a break above 0.781 could see the Monthly R2 @ 0.800 targeted whereas a break below 0.766 could test the area between the WS2 @ 0.760 and the WS3 @ 0.750
NASDAQ: Last week saw muted Price Action with price trending slightly lower. Support from the 4H 200 SMA is still slightly lower near the MP @ 12690. A break below this level could see the lower support boundary near the MS1 @12430 tested. If price can break above the diagonal boundary it could be setting up bullish targets near the WR2 @ 13280 (minding support from the MR1).
Brent Crude: Last week saw brent crude mostly ranging sideways and in the process forming what looks to be a small HnS with a target near the WS2 @ 52.90 (also the 4H 100 SMA). There is also additional support at 51.36 (4H 200 SMA). If price can close above the WR1 @ 56.60 this will invalidate the HnS and likely target boundary resistance near the WR2 @ 58.38
Gold: After getting rejected from the 4H 200 SMA gold is now retesting lower boundary support. If price breaks below it and we see a sell-off this could see price head as low as the Monthly S2 @ 1730. If however, the level holds and we see a pullback, resistance @ 1880 will be the key level of resistance pending a larger breakout. The bullish breakout target remains around major resistance @ 2075
Bitcoin: Last week saw BTC whipsawing while consolidating into a triangle range with the lower support boundary remaining intact. Important support here is the Monthly S1 @ 33000 as a break below this level could see a strong correction closer to the Monthly Pivot @ 25300. If price can break above the diagonal boundary it could target new all-time highs near the WR2 (Also the MR3) @ 44900.
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Post by Admin on Jan 25, 2021 6:39:02 GMT
Week of 25-Jan-2021:
USDZAR: Last week saw price getting rejected from the WP and 4H 50 SMA and found some support just slightly above our diagonal support. The higher low could be bullish and since price is currently trading above all the major 4H SMA’s there is a good chance for a breakout higher. The target would be around 15.70 (WR2) with initial resistance around 15.40. Support remains the area around the Weekly S1 @ 14.80.
EURUSD: The head and shoulders did not play out fully as expected last week and instead saw price re-test the neckline where it is also currently facing resistance from the 4H 100 and 200 SMA’s. Should price get rejected and close below the Weekly Pivot @ 1.214 there would likely be another attempt at the HnS target near 1.200. If however price breaks higher, resistance from the Weekly R2 would be @ 1.227
GBPUSD: Last week saw the Weekly Pivot hold with price encountering resistance from the Weekly R1. The diagonal along with the 4H 100 SMA will act as support with a break below possibly seeing price re-test that 4H 200 SMA near the Monthly Pivot. If support holds the bullish target remains near the Monthly R1 and upper diagonal boundary.
AUDUSD: Still finding itself in consolidation with the 4H 100 SMA holding the line. The trading range remains in-tact with the breakout targets unchanged @ 0.780 (MR2) and 0.752 (WS3) – Note that more consolidation within the trading range is possible.
NASDAQ: Last week saw price break the diagonal boundary and as discussed in our video last week this saw the bullish target at the upper diagonal (and Monthly R2) quickly realized. The trend is obviously still exceptionally bullish with another push higher not impossible. The upper diagonal boundary will act as a guideline for resistance with the Weekly R1 @ 13620 a possible target. However, any rejection could see a sharp correction to at least 13150 (MR1) and perhaps even 12920 (WS1).
Brent Crude: Despite an initial recovery right up to the Weekly R1 the level held-up and the right shoulder of the now more complex HnS remains intact. It is clear that the 4H 100 SMA is offering support with a close below it likely setting the new HnS target around 51.50 in motion. The 4H 200 SMA could however cut the target slightly short. Resistance remains the highs of the right shoulder with a break above it invalidating the setup and giving a bullish target near the major diagonal resistance @ 57.50
GOLD: So far support is holding up well with the diagonal boundary along with the 4H 100 and 200 SMA’s proving strong resistance. The 1840 level remains key support as a break lower could see a sell-off to much lower support levels. Following a bullish break targets will be 1915 (WR2) followed by 1943 (MR1) and eventually (longer term) major resistance @ 2075
BTCUSD: Following a break from major diagonal support, Bitcoin appears to be in a bit of trouble. The Weekly S1 along with the Daily 50 SMA offered some support but without a conclusive break back above at least 33900 there would be likely more downside. The next important levels of major support are likely the Monthly Pivot (strengthened by the Daily 100 SMA) @ 25270 followed by the Yearly Pivot @ 20550. If Bitcoin can stage a recovery the area between 35300 and 37550 (YR1) could likely be re-tested.
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Post by Admin on Feb 1, 2021 6:54:45 GMT
Text summary for 1-Feb-2021:
USDZAR: Following the diagonal breakout price has now entered into consolidation between support @ 15.00 and the resistance @ 15.35 (also the WR1). A break of either of these boundaries will likely setup the next move higher or lower. In the event of a bullish break the target stands at the Monthly R1 @ 15.70 and a bearish break will likely see diagonal support tested near the WS2 @ 14.72
EURUSD: Despite a break below last week’s pivot the HnS target hasn’t yet played out. Price is instead tightly trading in the range between 1.218 (Monthly Pivot) and 1.205. For now it seems the 4H 100SMA is acting as dynamic resistance and we could see a re-test of the lower boundary if the Weekly Pivot @ 1.212 fails. The bearish target should we see a breakout from the lower boundary is 1.195 compared to 1.230 should we see a breakout from the upper boundary.
GBPUSD: Last week saw mostly consolidation with the 4H 100SMA still acting as dynamic support. The general trend is still mostly bullish and should the Weekly Pivot @ 1.368 hold, a re-test of the upper boundary @ 1.376 is very likely. If we get a bullish breakout the target would be the upper diagonal boundary near the Weekly S2 @ 1.383. If however we break lower and lose the 4H 100SMA the bearish target would be near the Monthly S1 @ 1.350
AUDUSD: Last week saw a correction seeing price testing the daily 50SMA around 0.763, if it holds we can expect a re-test of the upper diagonal boundary near the Weekly R1 @ 0.773 (with a breakout targeting at-least the WR2 @ 0.783), If however, price breaks lower the correction could see a move towards support @ 0.753
NASDAQ: Last week played out nearly exactly the way we discussed last week; with an initial bullish move along the upper boundary to the target of 13620, followed by a sharp correction to the lower boundary and short target @ 12920. Looking at the Daily TF the break below the diagonal could see a deeper correction to the larger diagonal boundary near the Weekly S1 @ 12620
DAX: After hitting strong resistance from the recent ATH’s , the recent pullback is now looking for some support. Now while there definitely is some support @ 13350, more structured support would be around the Monthly S1 @ 13125 which also currently coincides with the 4H 100SMA and the major lower diagonal boundary. Resistance at the current levels would be between the Weekly (13570) and Monthly Pivot (13620).
Gold: Analysis remains virtually unchanged from last week with support holding up but the 4H 100 and 200 SMA’s proving very strong resistance. The 1840 level remains key support with a break lower possibly seeing a sell-off to much lower levels of support (likely around the Monthly S1 @ 1780). Following a bullish break above the Monthly Pivot @ 1870, possible targets will be resistance @ 1905 followed by 1937 (MR1) and eventually (longer term) major resistance @ 2075
Bitcoin: After dangling off the cliff’s edge for a bit there, Bitcoin found some relief in what appears to be a spin-off from the WSB saga and prominent figures like Elon Musk openly punting the cryptocurrency. This saw a massive breakout from the diagonal boundary in what appeared to be a double-bottom breakout to previous ATH levels. But unfortunately, this was not the case and after hitting strong resistance from the Yearly R1 Pivot around 38k, the breakout failed and returned to the Daily 50SMA. The overall trend remains bullish as long as trading can remain above the Daily 50SMA. If however, price breaks below it, support would be somewhere between the Daily 100 SMA near 24350 and the Yearly Pivot @ 20600
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Post by Admin on Feb 28, 2021 9:02:40 GMT
Text summary for the 1st week of March:
USDZAR: So far our double bottom scenario is playing out remarkably well with price last week breaking clear of the 4H 100 SMA and comfortably trading above the 15 level. The next two bullish targets are 15.40 (MR1/WR1) followed by 15.70 (MR2/WR2). Support is the WP/MP @ 14.90 which now also coincides with the 4H 200 SMA.
EURUSD: Despite a brief rally taking out the previous high of the HnS right shoulder, very strong rejection has seen price pushed back to the neckline @ 1.205. This could possibly be the formation of a bearish flag with a break below the neckline initially targeting the MS1 @ 1.194 followed by that illusive HnS target @ 1.182. Resistance will be found @ 1.219 (WR1)
GBPUSD: Last week we mentioned that despite the very bullish trend, price seemed stretched with a correction to 1.395 very likely. This is exactly what we ended up seeing with the 4H 100 SMA and Monthly pivot now being tested. If this level holds more bullish price action could see price head to 1.414 to 1.425. Whereas failure of the support level will possibly see a bearish target in the range of 1.379 to 1.366.
AUDUSD: After an initial rally that saw our second bullish target @ 0.797 realized sellers stepped in and drove price all the way back to the Feb Pivot @ 0.768. This is a strong level of support with price action expected to head back to the 0.775 (MP) to 0.780 (WP) range. Bullish continuation will target 0.795 (MR1) whereas a bearish break could target 0.754
NASDAQ: Last week saw a sell-off to major diagonal support followed by a brief test and rejection of the 4H 200 SMA @ 13375. This level now becomes resistance with important price action expected within the 13070 to 13170 range. The 13k level now acts as very important level of support and if lost can see price head lower to support @ 12450.
DAX: After losing the 4H 100 SMA price quickly saw a test of the 4H 200 SMA. The 13840 level (WP & MP) now becomes resistance with the next levels of support 13625 (WS1) followed by 13485 (MS1). If price can close above the WR1 @ 14000 a rally to 14400 is not impossible.
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Post by Admin on Mar 8, 2021 7:12:05 GMT
Text summary for 8-Mar-2021:
USDZAR: The double bottom scenario I mentioned over the last 2 weeks is still working out thus far with the initial target @ 15.40 reached on Friday and the neckline target @ 15.70 (MR2) possibly up next. Initial support can now be found @ 15.21 (WP) with additional support around the 15 level.
EURUSD: The bearish flag we pointed out last week has played out well with the short target @ 1.194 realized on Friday. The trend remains bearish with the next short target that of the HnS being near the Monthly S2 @ 1.180. Strong resistance will be in the vicinity of the neckline @ 1.205
GBPUSD: Last week saw price lose hold of the Monthly Pivot and 4H 100 SMA and went on to test the 4H 200 SMA briefly tagging our short target @ 1.379. If the 4H 200 SMA holds up and price manages to break back above the 4H 100 SMA there could be upside back to 1.412 to 1.425. If however the 4H 200 SMA is lost a deeper correction toward major support @ 1.368 can be expected.
AUDUSD: Last week we mentioned that price action is expected to head back to the 0.775 (MP) to 0.780 (WP) range, this turned out to be the case with price then getting rejected to close below diagonal support. This bearish break could target the Daily 100 SMA in the vicinity of the Monthly S1 @ 0.751 followed by the HnS target at the WS3 @ 0.737
NASDAQ: Last week we mentioned that a break below 13k could see price head to support @ 12450. As it turns out we ended up seeing exactly that with what has now turned out to be a possible HnS in play. Price is currently testing the neckline @ 12700 with additional resistance currently between 13000 to 13160 (MP). The full HnS target is around 11500, with an interim target near the WS1 @ 12140
DAX: We did not see much in terms of any decisive price action last week outside of another test of resistance @ 14150. Currently price is testing the Daily 50 SMA and 4H 100 SMA both which acts as important dynamic support which if lost will see a deeper correction. These is additional support initially form the 4H200 SMA @ 13800 followed by diagonal support near the MS1 @ 13500. Resistance remains @ 14150 with a break targeting 14330 to 14500 (MR2)
Gold: The bearish trend continues with the short target we mentioned last week @ 1700 being realized on Thursday. From a technical stand point the bearish trend is starting to near an area of very strong support in the vicinity of the MS1 @ 1675. Looking at a possible bullish scenario a break higher could see the falling wedge pattern target resistance @ 1750.
Bitcoin: Once again the 4H 200 SMA is proving to be strong dynamic support and as long as price can remain above it there is likely upside. Initial bullish targets would be 53880 to 57050 whereas bearish targets should the 4H 200 SMA fail; could be anywhere from 40855 to 34500
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Post by Admin on Mar 15, 2021 12:21:48 GMT
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