EURUSD has halted a falling trend amid breaking above a 2-week falling trendline. Awaiting price to retrace to supply zone 1.1370 @ FR618 level.
A HnS formation is forming after the price was rejected by a falling trendline. Although we have witnessed a major retracement from the dollar last week, a huge portion was recovered on the last trading day. The dollar index managed to close with a bullish candlestick after a failed double top. Let's not forget that the dollar is still the dominating currency in...
Although the technical setup is pretty good to short AUDUSD, the fact that bullishness of the rebound from its all times low contradicts the idea of selling. Nevertheless, if the stop loss can be tight enough to short just the retracement of a strong reversal, there are still profits to be made. AUDUSD has gained close to 90 pips in a day, and it is extremely rare...
NZDUSD has retraced for the half of today's trading session and is seen resisted at its previous high around 0.6555. A double top is then forming, signaling for the price to fall further. The price was also resisted within a supply zone @ 618 just below a falling trendline.
The price has retraced for past 1 day and is about to reach a supply zone at 0.71 which coincides with 618 Fibo retracement.
Like NZDUSD, AUDUSD has retraced significantly for the past one week. An AB=CD formation is about to complete at a falling trendline based on a daily chart. The dollar may weaken further, but there's a strong demand zone near 94 which may give the dollar a strong rebound, and that would probably cause AUDUSD, as well as NZDUSD, to drop fast as a result.
The Aussie is most likely to make a retracement as China CPI performed well this morning, setting a slightly bullish tone for the Asia market. I am expecting the price to retrace back to 0.716, a supply zone combined with a falling trendline and FR61.8%. The dollar is most likely to perform better this week as NFP employment change outperformed the forecast. The...
A falling trendline has brought GBPUSD tumbling over and over again since the beginning of August. Will the price continue to fall along with the trendline or will it break away from it? No idea, really. I am just trading what I see. Dollar is gonna be very bullish this week, pound has been under pressure of brexit negotiations, there's still much space on the downside...