AUDNZD has bounced off a support zone on the weekly charts. I have now used the smaller TF's to enter this trade and will look to take profit soon, as this is a short term long. This is a short term long as this pair broke the support and made a lower low, so I am expecting a big move down soon.
Trade safe and good luck!
I previously posted this pair yesterday and attempted to go long. However, I was taken out at my EP and have now entered again as it has entered a demand zone which I have found from 23/01/2019. I hope to add further positions once my 4 hour trend line is broken.
Trade safe and good luck!
Bearish momentum has slowed down on the 4hr timeframe, also breaking the descending TL, formed and upside down h&s. It's looking to break the neckline and we will enter long positions on a retest if it was to hold.
After an explosive move down, GBPAUD left a big liquidity void and we all know how much GBP loves to fill liquidity voids, lower time frame is showing bullish price action and making a breaker on the 15 mins after taking out previous swing low on the daily.
R/R setup is great for a long, has a massive upside if trade goes in our direction
Continuation of bearish pressure from the top of the consolidation range straight through the bottom support region. Again here, we’d expect some form of retracement at least to 0.7320 to retest the broken range before heading lower to 0.7200 on the way to that weekly support region. I did like the prospect of a test of the downtrend before heading lower which is...
Broken key support level of 0.73, news of extra tariffs on China, could see a retest of 0.73 wait for a pullback to there before adding short positions.
DXY rising too, could see lows of 0.69 soon
Entry level - 0.73
TP1 - 0.71
TP2 - 0.69
SL - 0.735
On the Daily timeframe price approached the neckline and top of the consolidation range yesterday and pulled back to around 50% of it’s movement, this suggests sensitivity around this region. We look to today’s close as well as tomorrow’s to confirm this as a lower high. However, price remains above the moving averages which it’s using as support and is currently...
On the weekly timeframe, we've seen 5 downside wicks as orders have been filled at the 0.7350 support region. This week forms the 6th rejection of this and price already appears to be pulling back from here. Overall we have a weekly downtrend which lines up the downside Fibonacci retracement region with 0.7500.
Price moved largely bullish yesterday breaking back...
A trading opportunity to sell in EURAUD
There is no trend in the market and the price is in a range bound, but we forecast a downtrend wave below 1.6190 would begin in Midterm.
The RSI bounced from the resistance #1 at 62 and it prevented the price from more gains.
A trough is formed in the daily chart at 1.5425 on...
After creating a new low just below daily resistance price was whipped back up suggesting manipulation and has rallied; breaking back above the moving average, retesting them as support and continuing to break through our downtrend in line with the moving average crossover to the upside.This suggests that price is definitely going higher to test highs around...
OBSERVATION: Price broke past the bearish resistance line. The resistance line which happens to with a strong support zone at around 1.08400, which is currently being retested for a second time after the breakout. If this zone is respected, I will look for a candle formation in order to go long, targeting 1.08990 then 1.09400. A break...
AUDUSD appears to be close to finishing another 3 wave structure labelled as C-D.
It has made a short term correction following from an impulse.
It also seems to have broken out of the short term correction trendline and began its move downwards.
I expect the impulse to end at point D and begin another 3 wave pattern upwards completing at E.
Once D has completed I...