EURAUD tested the ascending channel resistance and retraced as expected from my previous analysis. The market is testing the channel support + 0.618 fibonacci retracement level. Breakout of pullback trendline resistance could be a bullish signal ⬆️. RSI channel bounce could be a bullish confirmation 🔼
EURUSD tested the ascending channel resistance. The market is printing the pennant consolidation pattern. Imminent short term breakout. Breakout of RSI descending triangle pattern could be a confirmation.
Price brokeout above the downtrend resistance and is currently retracing for a test of flip support + fibonacci retracement levels + uptrend support. Confirmed bounce off the support could be a bullish signal ⬆️. Possibly making a new swing high.
Price is testing the ascending channel resistance and is printing a bearish flag pattern. Breakout below the flag support could be a bearish signal ⬇️. RSI is also printing a Bearish divergence signal. Breakout below the RSI triangular pattern could be a bearish confirmation 🔽.
I am one of those traders who are waiting for a strong correctional movement on dollar.
during many weeks I am looking for reversal clues on EURUSD .
one of those is a lower high formation within the expanding channel that the price is currently following.
it is a strong indication of a weak bullish sentiment...
Similar to AUD/USD
For an entry waiting for the neckline breakout. Then retest at the neckline
1) INverted HSD pattern
2) Trend: Uptrend
3) The daily resistance level is broken with a retest
4) Fib level rejection from 78.6% level
On 8 September, GBP/USD lost 1.36% or 179 points, owing to the sudden crisis in the Brexit deal talks. With the rumors about the changes made to the Internal Market Bill circulating on the sidelines of Brexit talks on September 7th, it became publicly known that the Boris Johnson Conservative U.K. government was going to issue a new edition of the Internal Market...
Confirmed violation of strong horizontal support and new lower low lower close on a daily on EURGBP .
now bearish continuation is highly probable.
The next strong support is based on June's structure and 618 of the last bullish impulse.
0.8875 is the first goal for sellers.
In case of a further decline, the next goal...
Having correctly called the long position (See Related Idea) I have now changed to a short position.
Might take longer than the bullish move.
Be willing to sit with this trade for some time.
Be smart - Keep your position sizes low.
Follow - Like - Comment.
Money flows away from the Yen...
Bounce from the Key level.
Be sensible and don't hold it forever...
Stay safe - Wear a mask.
Arrow for directional purposes only
Like - Comment - FOLLOW. = We love all that stuff.
though during the last few weeks EURGBP remains quite weak,
we should remember that technically the trend is still bullish and the market keeps growing within the expanding wedge pattern.
during the current trading week, we saw a false violation of the support of the wedge .
trading for a couple of days below that, bulls...
USDCAD about to rise...
Same stuff, different chart.
Dont be silly with the position size
hold it for what its worth.
This really shouldnt be given away for free... **** it.
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On this pair we can see the corrective week had an impact here and the week ahead could have an impulsive move in store. If we get a retrace to 0.70670 and it serves as resistance then we could see a drop here.