We have a nice and clean ascending channel, with a potential double top at what could easily be the top of this channel. Channel top has nice and strong divergence.
We firstly need to see that the bears show up next week and protect that 139.3 upper level. A break of 137.8 could easily expose the channel bottom for a break and pullback. If we see this move my two...
For the past month this pair has been moving steadily within a bullish channel. Today the price has reached a very strong resistance zone, which happens to be a multi-month high. The price looks as if it would start to move down from here as it reaches the resistance level.
Regular divergence is easily spotted on this pair and a lot of the other EUR pairs. The...
Price has moved in to a key area on the higher time frame which suggests that a pull back or trend reversal is likely. A double top in the key area, as well as divergence on the 30, has caused me to believe the trend will change to the opposite direction.
EURJPY Sell Analysis: EJ has been in a downtrend since early 2014. On the 5th June 2020 we saw the pair make a new Lower High. Ever since then we have seen bearish movement towards a new lower low.
On the 5th June, I saw the following conditions which makes me believe price is heading towards a new lower low;
-Descending Weekly Trend Line - 2nd Touch
USDJPY Buy - Entry off of double bottom formation with divergence and TDI hook below 32.
- Stop loss below the formation by 10 pips
- Entry at RSI (green) Signal line (red) cross
- Divergence on TDI
- Bullish cycle
- Exit TP 1 @ days initial high
AUDUSD Sell Analysis: The Ozzy Dollar has been in a strong downtrend since 2013. We have however, seen a retracement since mid March 2020 as it forms a new lower high. Following this retracement, I am expecting a new lower low.
I got in on this trade two weeks ago now but my entry was a little premature and since entering I have rode the pairs consolidation...
We are now at an extreme low, this pair has only been around this sort of level 3 times in its history! So that being said when I spotted price making lower lows and the RSI making higher highs I was just waiting for an entry. On the H1 time frame we are now creating a support area. Looks like a great trade setup 🔥