We are in overal downtrend on Weekly Dayli and 1H charts.As we can see price nicelly respecting our top trend line and heading back down this is how i see price movement for next days from technical side.From fundamental side all i can say that JPY is a lot stronger than NZD what making me think price may go down even more.Let me guys know what u thinking about...
In 4h chart we are in nice UP trend where last candle just touched bottom trend line and heading back UP on 15min timeframe we are in downtrend where RSI showing bullish divergence so its nice signal for reverse in my eyes.Let me know what do u think down below.
As we can see on currency strenght USD winning against CHF thats one of the reasons to go long in this trade.Second motivation is my fibo where price holding on level 50 on 4h,1h and 15min charts so im thinking it could go UP in this case.This is just my own personal idea dont recomend to use it to anyone as im just begginer and not sure 100% about this move....
As we can see on currency strenght EUR is stronger than JPY and forecast for JPY doesent seems to be very pinky in close future so in this case i would go long after reach our support level of course if its gonna happen.Please let me know what do u think in comments down below.Any advice is welcomed.
as we can see my indicator showing me AUD is a bit oversold and it might be signal to go up.Its a bit late jump in to trade but i think later better then never. Im just begginer and kinda playing with charts now with my Demo acc so every advice is welcome and appriciated :)
Pair: XAU/USD S
Observation: This pair formed a new lower low having broken through previous support which was tested twice and after and evening start pattern formation. 1D view is also in favour of a short. I will short this pair and target 1240.74 then 1222.31 and SL 1276.52. Risk/Reward is 1.4.
Feel free to comment!