As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=0.722.
But the short term forecast is range bound, so we expect to reach the following targets:
Set the stoploss of these orders at breakout of S2=0.72.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of ...
While the price is above the support 0.7020, beginning of uptrend is expected.
We make sure when the resistance at 0.7445 breaks.
If the support at 0.7020 is broken, the short-term forecast -beginning of uptrend- will be invalid.
The RSI resistance #1 at 56 is broken, so the probability of beginning of uptrend is increased.
0.7160 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
While the RSI resistance #1 at 55 is not broken, the probability of price increase would be too low.
A peak is formed in daily chart at 0.7160 on 10/17/2018, so more losses minimum to Buy Zone (0.7085 to 0.7020) is ...
After being trapped for over a month between 1.8000 and 1.7750 is GBPAUD ready to drop to new lows?
Well last week we witnessed the pound in the spotlight with wage growth slowing, inflation missing expectations and retail sales surprisingly worse than expected.
The week prior to that we had sudden resignations from David Davis and Boris Johnson, some high ...
After breaking out of the monthly wedge and retesting we are seeing another breakout this time of the daily ascending wedge. Currently we are seeing the pair ranging sideways but I am confident that we will see a break above the box and onto 1.77000s.
EurAud - H4 chart - I prefer shorts due to the current H4 structure which shows many confluences for downside including a H&S pattern, retest of trend lines and supply zones and a fib retracement with targets down to the next H4 support. Decent Risk to Reward on this trade.
Both Currencies are currently weak after they both came into significant resistance levels. We are now seeing consolidation on the 4hr chart. 2 possible scenarios to watch out for, a break to the downside and a re-test of 1.4835 would be suffice to look for a short trade. If we see a break of the trendline resistance to the upside we will be looking for a re-test ...
Chart pretty much speaks for itself. Price is still stuck in this ascending channel making higher highs and higher lows. A break of this counter trend line could bring some buys back into play as I can see it continue to make another higher high.
I like the look of this potential long entry opportunity. This pair has multiple bullish confluences across every time frame. The Australian dollar scores strong on my cross pair comparison, with the yen scoring weak. This strengthens my bullish bias. my analysis across time frames formed the following views:
Weekly: The 83.00 weekly support level looks to have ...
Looking at the daily specifically we see multiple rejections of the 1.41 0.50% monthly fib level
h4 trendline has been broken and tested so am expecting a lower low to 1.395 before a pullback to entry level. tp set at previous daily and weekly low whereas sl is slightly above the highest high of either shoulder in the h&s pattern
The Dollar has appreciated as the FED have announced a rate hike as early as March is on the table. Commodity prices have struggled in this environment and hurt the Aussie dollar. I see this pair making a new low as more bears enter the market. This technical set see's a strong downtrend with a pullback failing to close over the 0.61% fib level and downward ...
LONG EURAUD ALONG WITH EURUSD ATM;
EURUSD COMPLETE OF ABC PATTERN AND BULLISH BREAKOUT TOWARDS D IS CONFIRMATION FOR THIS TRADE
EURAUD HEAVILY OVERSOLD ON MOST TIMEFRAMES; LOOKING FOR A MINOR PULLBACK TOWARDS MAJOR SUPPORT TURNED RESISTANCE 1.4
STILL BEARISH ON MONTHLY HOWEVER WITH ANOTHER ABC PATTERN COMPLETED AND A CONSIDERABLE PUSH SOUTH FROM THE 61 FIB LEG ...
On the daily timeframe of AUDCAD, counter trend signal starts to form. On the smaller timeframes of AUDCAD the price has already changed its trend direction: there was a breakdown of “Alligator`s” MA and MA50.