Pin Bar Reversal Pattern in USD/CHF

Looking at today’s USD/CHF chart we can see that a bullish pin bar reversal pattern has formed after price reached down to the prior resistance level of 0.9648, which now forms support. Stochastics are poised to cross from below to above the 20 level, adding to the bullish scenario.

Textbook Pin Bar Set up on EUR/GBP H4 Chart

A classic pin bar set up has formed on the EUR/GBP four hour  chart. Price reached to a prior resistance level of 0.9030, which we can see on the weekly chart below before reversing. Stochastics also crossed from above 80 to below 80, adding to the bearish scenario. The set up is usually traded by … Read more

EUR/USD Bears Eye Yearly Low

EUR/USD is under pressure with price coming precariously near the 2018 low of 1.1508 reached on May 29th. Price is confined within a descending triangle pattern and bears are looking for a potential breakout to the downside. Looking at the weekly chart we can see that price is nearing the 50% retracement of the upmove that … Read more

Gold Hovers at Major Support Ahead of NFP

Gold showed little reaction to Wednesday’s as-expected FOMC Statement, ending the day marginally lower. The Federal Open Market Committee voted unanimously to keep the target range for its benchmark rate at 1.75 percent to 2 percent and upgraded its assessment of the U.S. economy to ‘strong’. The downtrend in gold began in April 2018 and price … Read more

Bitcoin Hovers at Recent Lows Amid Tax Related Selling

Bitcoin prices fell below $7,000 on Monday ahead of the looming April 17th U.S. tax-filing deadline. Analysts speculate that U.S. households likely owe billions of dollars in capital gains taxes for their cryptocurrency holdings and that investors are selling in order to meet their tax liabilities. Bitcoin prices have fallen more than 27% over the … Read more