Price currently moving up along a trend line that is also the 20EMA and mid Bollinger Band. Reaching a squeeze point between the Daily R1 and 75 Fib and upper Bollinger Band. Expecting price break to the upside to the daily R3 which is also the weekly R2 and psychological 0.9980 (just below 1.00).
Watch for a break of the trendline to the downside...
eurnzd was in this consolidation period for a while now but there was some big moves on 4hr chart that I took notice of. Price rejected daily trendline and made a bear flag which worked and than price made another correctional move followed by a rising wedge which gives me 2 confirmations that markets are going go...
Daily chat is showing descending channel being made. Going on a lower timeframe, price respected resistance zone 3 times which is a triple top at best. Going on the 15min for entry, I see price also made a rising wedge + 3 minor triple tops as well so this has me believing that price will go...
euraud daily shows a channel. 4hr and 1hr shows a smaller channel within daily channel. 15 min shows all the correctional moves and where price will move likely.
waiting for price to make another correctional phase so I can enter.
daily chat shows price consolidating in a triangle so I went into the 4hr/1hr and saw price rejecting yellow trendline.
Price then made a double top so waiting for breakout and retest to confirm trend.
In this market, I have seen the market do into this downward channel and with that came lower lows and lower highs. I've added the entry point, stop loss and take profit.
The lower lows and lower highs can be seen more clear in the 1hr timeframe and smaller.
I have spotted another bullish flag pattern on the cad/jpy market as well. Please make sure to check this timeframe and check on the 1hr timeframe as well for entries because I found out that I'd already missed the entry from when this was posted.
Currency Pair: EUR CAD Trend Predicted: Down Trend, SHORT. All major indicators are showing a Strong Downtrend of EUR CAD. Multiple indicators have been used, including More updates will be available shortly Bollinger Bands and 100/200 SMA.
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