Shooting Star Forming in GBP/JPY?

A Shooting Star Pattern (bearish reversal) appears to be forming on the daily GBP/JPY chart. Additionally, price beat a hasty retreat after probing the 200 period simple moving average, adding to the bearish scenario. However, several important fundamental factors could disrupt the current technical outlook. At 2PM ET on Wednesday, traders will be watching the … Read more

Shooting Star Pattern in EUR/CHF

A textbook shooting star (bearish reversal) pattern has formed on the EUR/CHF daily chart. Additionally, looking at the daily chart above we can see that there is a confluence of indicators as price reached up just shy of the resistance of the 200 period simple moving average before reversing. The 4 hour chart gave us a chance … Read more

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