This is EUR/GBP on the Daily Chart.
We can see price has respected this level of support since May 26th 2020.
Once again price has tanked down to our support level and bulls have been sitting at our support zone - we can see price starting to move away from our key area yet again to the upside.
We can use candlesticks at this key level as extra confirmation -...
This is a market we have been discussing heavily in recent times. Price has been holding at the intraday price flip support level and consolidating.
As discussed yesterday, for price to make any sustained moves back higher it would need to bust through the intraday resistance.
Whilst price attempted to make a move back higher in the previous session, it ended...
The bearish engulfer never managed to gain its full momentum. Stops were moved to BE, which we hit earlier today... the lower time frames are showing a very clear flag. I am not looking to trade this for 2 reasons... the first of which is: We have lower volumes through the correction of the flag itself, however the hammer down candle right in the middle shows...
Not much here to say. Price has reached the edge of the parallel channel and is printing a bullish pinbar on the daily chart. I will be entering after the candle closes. Hopefully to profit in the coming days. Cheers!
We just went long on this one after lots of preparations we believe it is a good time to go long.
We reviewed the EUR vs all major trading pairs and there are good chances of a bull reversal, on the other side the USD looks pretty weak and even the DXY agrees... maybe its too soon as its still just Monday and there is so much more info to come out but we feel...
USDCAD has shown brief consolidation at the long term downtrend line before providing a bearish pin bar which has lead us to the trade setup where we anticipate it reaching a previous floor that has been bounced up from twice.
SL - 1.32636
TP - 1.30558
USD & CAD are suffering bad data outputs and lack of demand for oil.
We could see this market testing the bottom of the short term range around the 1.315 zone looking for direction.
Further drop in manufacturing data could see further downside.
CADCHF could see a retracement down to the 0.7444 zone area after double topping on D1 before resuming a bullish stance.
US stock inventories haven't helped the bulls !
Watch the PA if the 0.74 lows get taken out
Bullish daily pin bar at major support alongside bullish divergence
Awaiting bullish engulfing candlestick for confirmation
Entry would be at 50% of today's candlestick if strategy is confirmed
Pros:
* Lovely Pinbar breaking the 50 EMA
* finding resistance from 50EMA and Horizontal support.
* Following the Trend on 15M 30M and 1H Timeframe
Cons:
* 6EMA is above 18 EMA showing an upward move
* EMAs are not in line.
I don't know if we get a retracement looking at the Daily timeframe, but if we do I will be looking to enter short at the 50% Fib retracement.
I will also be looking to use this bias information for a DDP and intra-day setup.
