Daily Chart Explanation: - Price broke the Ascending Channel in which it was in since 2017. - Price may have potential to go down towards the Support Zones. Weekly Vision: However, we found out that the Weekly Ascending Trendline have not been broken yet. That why we are waiting for a confirmation before taking long term positions. UPDATES COMING SOON!
FX:GBPUSD FOREXCOM:GBPUSD SAXO:GBPUSD Trade idea – GBPUSD – Close to resistance. Scope for a correction lower to buy into Monthy – Bullish wedge formation Weekly – Possible ‘Outside Week’ Daily – Bullish Morning Star 4H – Close to resistance and DeMark 13. Scope for a correction lower We look to buy at 1.2580 target 1.2745 stop 1.2580 Caution - UK...
RBA Gov Lowe came out and said that it is "not unrealistic" to expect a further cut to the RBA's cash rate. We like playing AUD weakness against recent CAD strength, after a splendid CPI beat yesterday. Prefer pullbacks to get aboard, towards the short-term resistance because the main target is close.
Looking at the Weekly chart, we can see the formation of a descending wedge Looking into the Daily chart, we see yet again another descending wedge. Its a more defined wedge on the 4HR chart. As we can see from the 4HR chart, not only is there a descending wedge, but we actually see that price has just broken past the resistance line of the pattern. It is...
AUDJPY Daily chart shows a slightly ascending channel following by a drop to the 75.227 support line and breaking it. We could see a potential reversal at this point or it can reach 71.018 before reversing. Looking in at the 4HR chart, we see an evening star formation with an impulse to the upside before entering what now looks like a consolidation period....
FX:USDCAD OANDA:USDCAD FOREXCOM:USDCAD SAXO:USDCAD Weekly – Bearish Outside Candle with bearish expanding wedge pattern Daily – Breaks the wedge to the downside. Measured move 1.3115. Outside Day posted yesterday We look to sell at 1.3400 Stop 1.3440 Target 1.3115 Economic figures could adversely affect the short term technical picture. Good luck!
Not financial advice. I’m not a financial advisor. I’m learning to trade. Learn to trade Bear flag on the daily GBPNZD. Possible short to recent swing lows. Rejected by 30 sma. Closing below the 200 sma First target is breaking the 1.90452
USD/JPY, D1: Support zone + Oversold & Convergence on RSI(14)
USD/CNH, D1: Resistance zone + Oversold & Divergence on RSI(14)
4H Chart Explanation: - Price is on a lateralization since March. - Price bounced on the Support Zone and broke the Descending Trendline. - Now, it has potential to move up towards the Resistance Zone at 1,3498. Weekly Vision: Daily Vision: Updates coming soon!