Chart of the Week - Forex Library

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Chart of the Day

Chart of the Day – 22/02/2022

Posted on 10:15 pm by Welcome Khoza

On the 1 hour chart, GBP/NZD has broken below the previously ascending trendline and thereafter formed an inverse pinbar on an attempt to reclaim the same trendline. Short entries are favored in the range of 2.0305 - 2.0310. Take profit:…

Chart of the Day – 18/02/2022

Posted on 4:53 pm by Andy

On the Daily chart EURUSD has pinged off of resistance on two attempts and simultaneously formed an inverse pinbar on the 2nd occasion. Bearish indications are strong with the optimal short entry range from 1.1335-1.1345. Take profit: 1.1275. Stop loss:…

Chart of the Day – 16/02/2022

Posted on 10:38 pm by Welcome Khoza

On the 1 hour chart, USD/JPY looks to be simultaneously exiting a rising wedge pattern as well as running into a descending resistance line. Optimal short entries in the 115.45 - 115.50 range. Take profit: 114.80. Stop loss: 115.75

Chart of the Day – 09/02/2022

Posted on 9:29 pm by Welcome Khoza

On the 1 hour chart, GBP/USD is positioned to fall out of an ascending channel after reaching Point B in an Elliott Wave formation. A steep drop in the pair would indicate a move toward toward Point C. Favorable short…