Forex Technical Analysis

The Crab wrapping the Butterfly, a medium term look at the EURUSD

EURUSD has been dropping since the 13th of March and there are signs that if this trend continues a short term trading opportunity will emerge. Following this, a possible bearish butterfly or crab pattern will form allowing for a very high probability trade with a great risk to reward ratio.

Harmonic heaven, a short term look at EURGBP

EURGBP has been dropping since the 10th of March making lower lows and lower highs creating a strong resistance trend line which is currently being tested again. Due to the price movement, multiple possible harmonic patterns have appeared but given no clear sign of the direction of future movement.

Trend Trading, a short term look at WTI

Oil has been appreciating since February 2016 and since April has been bouncing off a strong support line trending slowly higher. In the past month the price has dropped back down to this support line and technical traders are looking at trading this in two ways.

Wedge breakout, A short term look at the GBPAUD rate

GBPAUD has been trading down towards the low last seen back in the October 2016. This price has formed a wedge pattern with a slight bias to the downside.

Short term Wolfe Wave analysis of Soybeans

Since the beginning of February we have seen multiple Wolfe Waves forming in Soybeans indicating that after the drop in prices, it could be time for a reversal.

The Butterfly Pattern – a medium term look at DAX

The DAX has been gaining since the start of 2016 and there are signs that if this trend continues, a possible setup for a bearish butterfly pattern has emerged which, if satisfied would suggest a medium-term trading opportunity.

Short Term Wolfe Wave analysis of EURUSD

Since the start of March we have seen EURUSD complete 4 waves with the last ending above the wedge pattern to create a Wolfe Wave, indicating that after the recent run-up, it could be time for a reversal.

The Bullish Bat: Could we be seeing a setup in AUDUSD

Since the start of the year, AUDUSD has seen some strength after the large drop during November. Since the start of April, we have seen the price testing the upper level of the wedge pattern that is forming.

Wolfe Wave analysis of CADCHF

Since the end of February we have seen multiple Wolfe Waves forming in the CADCHF indicating that after the drop in prices, it could be time for a reversal.

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