It's explained above.
To back up my points, AUD/CAD has been in a downtrend on the monthly chart for a while now, and the last few months have seen a lot of bullish momentum, more than anything this is a lower high that will form on the monthly and it will be the start of the continuation of the original downtrend of this pair. There is a strong...
Fellow Traders! I have spotted a potential trading opportunity, GBP/USD (SHORT)
I expect the price to either reject off this key level or potentially continue to break through resistance, creating a new support level and continuing to travel to the next key resistance level which is currently on a downtrend. However, I believe this is unlikely....
EURUSD is close to a key level where we should expect to find some support and a possible reversal.
The 1.07300 level has held as support since the end of March.
I currently have a long bias and prefer long positions in EURUSD.
A downtrend of LL's and LH's has formed (marked) with a number of s and r lines (marked). The Stochastic oscillator suggests that the market is currently oversold so we can expect a rise to a support level followed by a continuation of the downtrend if the support holds (marked on the graph and indicator). A sell limit below the support line with a sl just above...
Been around 6 months since I posted some technical analysis.
Trying to get back into it, with the hope of progressing further in 2020.
GBPUSD Simple Long trade with support/resistance plotted, a decent long term bullish trendline plotted, flag formation on the daily candlestick plotted.