-The 1W chart shows a re-test of the support TL on this triangle pattern. This shows that there is a lot of selling pressure and bears are in control.
If you look at price in the circled area, you can see that as price increases, the retracements are strong/deep; showing that if price were to continue higher, the bears will come back and drive price back down...
Possible short term trade on the CHFJPY
Japanese Index has started to fall so some currencies are gaining in strength against the Yen
Any questions are welcomed and will be answered
Lets see how it plays out
Long wick rejections of support followed by every time price does test, we see the exchange rate move the opposite direction.
Bullish Divergence as well.
We may see price move in a rally temporarily before price starts to pick up:
AUDNZD - Possible longing opportunity.
Last two days have tried to close below the 1.07 even handle but failed twice.
AUD seems to be gaining in strength the last few days of last week noticeably against the USD.
Once i get my signals of a long i will be opening a trade.
Any questions feel free to drop me a message or a comment and i'll be willing to offer...