As we can see on the 4H time frame we have had previous Higher highs and Higher lows.
We are now waiting for a break above our Daily Resistance level at 106.800 and also a strong previous Supply zone at 106.650.
We will be aware that price could in fact reject the Supply zone and break below trend towards 107.350 which we would look to enter upon a break of...
USDCHF - Intraday - We look to Sell at 0.9865 (stop at 0.9895)
Trades at the highest level in 12 days. There is no clear indication that the upward move is coming to an end. Intraday, and we are between bespoke support and resistance 0.9795-0.9865. The move higher is mixed and volatile, common in corrective sequences. The medium term bias remains bearish....
Approaching a third touch confirmation on the larger bearish flag pattern on the weekly chart, but zooming in on the 4hr and 1hr we see consolidation on the top of the channel in the form of a bullish flag pattern giving confirmation of at least a double confirmation on the third touch before a short signalling a buy opportunity.
On the 1hr chart we can identify...
EURGBP - Intraday - We look to Sell at 0.9200 (stop at 0.9230)
Posted Mixed Daily results for the last 3 days. Inside Soldiers have been posted on the daily chart. A bearish Head and Shoulders is forming. Trend line resistance is located at 0.9193. Bespoke resistance is located at 0.9200.
Our profit targets will be 0.9090 and 0.9020
Resistance: 0.9193 / 0.9200...
Yesterday’s release of the FOMC meeting minutes confirmed that a rate cut last month was a “mid-cycle adjustment”. The document also showed that policymakers were sharply split on the course of action to take, which was assesses by investors as a not-so-dovish sign. Now, market focus shifts to Jackson Hole symposium, where Powell’s speech will set the tone.
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The weekly timeframe outlines a bigger bearish flag pattern with already prior 3 touch confirmations followed by lower lows towards the bottom of the flag. Considering the approach towards the bottom of the channel we see a lower time frame (4hr) flag pattern which we can evaluate from the analysis I have posted above.
Trade active after the third touch...
Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (1.8571). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. GBPNZD is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance....
After witnessing a break through on the daily/weekly bullish flag pattern we only seek to look for buy opportunities.
The break out of the bigger picture time frame was followed by a lower time frame retracement in the form of a bullish flag pattern.
Entry taken upon the third touch confirmation within the bullish flag pattern followed by a 4hr bullish engulfing...
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