WAIT FOR A CONFIRMATION BEFORE ENTRY, PRICE STILL IMPULSIVE.
As we can see price is forming a series of higher highs and higher lows, we are also respecting this ascending TL which is currently being tested as support along with the 78.6 fib level. If these two confluences holdout I am waiting for a confirmation to go long (e.g a candlestick that closes above the...
Potential to trade the bullish AUDUSD major pair should price break the indecision doji candle positioned on the 50% Fibonacci area of value following a recent period of retracement. Possible 1:3 risk to reward ratio should price reach the 100% Fibonacci extension level.
Nice little rising wedge forming with resistance around 1.28477, also candles are weakening at the top of the wedge.
Would wait to see if it breaks the resistance although I think it will.
Afternoon traders,
After a big number on US Non farm payroll data surprised the market on Friday and threw the market into doubt over whether the US central bank, the fed, will cut rates at the next meeting giving the US dollar a bounce in strength into the weekend against market expectations. We are looking at a long setup in USD versus Canadian dollar with the...
Now EURAUD is a pair I have come to build some what of a love hate relationship with over the past 6 months. Previously taking shorts at a similar level in January before being annihilated by the flash crash. Luckily I did re enter and caught a lovely 500+ pips. Anyway that's besides the point, currently we are back at this huge resistance zone, where we saw daily...
Daily
Deceleration approaching key resistance at 112.000, but back above the Daily phase line.
- Above the 20/50 EMA Wave after falling below trapping sellers into the run
- Doji at Daily resistance
- Potential for a pullback down to 111.000
NZD/USD has been bullish as of recently so we follow trend continuation.
We are currently in a corrective state, but approaching structure levels.
We see a trend channel that price is following, so if we continue this channel we should expect movement to the upside since we just finished a corrective wave.
We can also see a large bull flag formation. If this...
GBP/AUD could see a bearish reversal as price seems to have rejected the daily resistance level of 1.8185 and as a result forming a dragonfly doji on the H4. Along with the early hours of today where price failed to break this key area of resistance yet again.
There is bearish RSI divergence occurring on the H4 which suggests the strong bullish momentum could be...
