Case for entry short: bearish doji bar close; retest/rejection of resistance at ~1.5025; and 0.618 Fibonacci level rejection and close below entry - below doji close stop - above doji close target - ~1.4830 (weekly support level and also 1.272 Fibonacci extension level)
Similar to AUD/CAD, AUD/CHF is setting up for a short opportunity with the following in view: - inside bar following high test bar in pull back to 50ema - price rejection at resistance at ~0.8210 - price retraced to 0.618 Fibonacci level which coordinates well within proximity of resistance at ~0.8210 - Stochastic and RSI in overbought territory - Stochastic and...
In its prominent down trend, price continues to have pronounced consecutive cycles below the 20 ema pushing EUR/USD lower. Today’s bearish reversal bar bumped just shy of a past level, now acting as resistance, at 1.2500, and closes below 20 ema and 0.618 Fibonacci level. If a short trade does not trigger a re-entry can taken at the test of 50 ema and/or...
In view of price action on the daily time frame, EUR/USD has demonstrated a lower high with a rally back into the daily time-frame's falling trend line with the possibility of heading into ~1.2885 where the recent daily high sits. A violation of this high, though unlikely, could see a change in trend in EUR/USD. Until then, as indicated by price action behaviour,...
The clarity of higher highs and higher lows makes this pair stand out boldly in this aggressive uptrend. Price has retraced into previous resistance (now support), and rejected the 10 ema, 0.618 Fibonacci level and is within the bullish trend channel giving a low test close appearing ready for a rally north. Entry - above today's low test Stop loss - below...
After a break below ~1.8150 and a strong move down price has retraced back to and rejected the ~1.8150 area with the 0.618 Fibonacci level being in spitting distance of it, and the 50 ema as well with a close below. Stochastic and RSI indicate convergence. Entry - below today's bearish bar Stop loss - above today's bearish bar Target - initial profit taking area...