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Minor

NEM : Daiy chart, pullback expected - minor cycle bottomNow that we have looked at our view on weekly charts, lets look at the daily charts. (attached below the analysis on weekly charts, better t read that first to have the forthlooking view) Weekly chart on the minor cycle suggests a minor pullback in the beginning of March 2020. As we are aware, price may bottom a few candles around this and we may expect last week of Feb and the first week of March to show a minor pullback. Price around $42 and $41 is an important cycle resistance/ support zone from previous weekly cycles. A look at the candles and we can see some signs of signals of short term market overbought conditions and also RSI showing overbought status. Wait for the pullback and then price may retest the upper resistance zone Look out for more action on this!
NYSE:NEM
by LoveForCharts
ORBEX: EURAUD Correction Likely To Lead To Further Upside!EURAUD could move higher to complete minor wave 2 above 1.6800 levels. Before continuing higher, it is necessary to complete the minute correction that started at 1.6800 top. With a low at 1.618% FE at 1.5900 round level, which is also a double bottom level, the correction could have either ended as a single zigzag or has another bearish leg down between 1.59-1.55. Look for a valid break above 1.6300 top but before reaching there focus on whether a potential upside is limited to 1.6240 -the 50% FR of 1.6435-1.6045 (minute x wave top to current low price). Stavros Tousios Head of Investment Research Orbex This analysis is provided as general market commentary and does not constitute investment advice.
Long
by Orbex
Ideas on CAD/CHF Short after Tripple TopHi Traders, following my trading ideas to the minor pair CAD/CHF for the next week. At first we should say that this pair is moving sideways for 5 years (since 2015). This makes it kind of difficult to tell the direction of the market. With the closing of the market on Friday we are facing a huge resistance level round about 0.74936. In my chart you can see two options: 1. LONG: Turning at the current resistance level and move in direction to price level 0.76152 2: SHORT: Breaking through the current resistance level in direction to the short term price level at 0.74338 and long term price level at 0.73603. I believe in the continuing of the current short movement (Option 2). We have got 3 strong bearish candles and strong bearish momentum with the closing of the market on Friday. So if you ask me, after building of the tripple top last week we will see the short movement to the first price level on 0.74338 breaking the pattern line and continuing to 0.73603. Its pretty easy to trade this pattern with the confirmation by the next candle and make sure to set a tight stoploss for this trade. Feel free to share your thoughts! Best, Lukas
Short
by LBAsset
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