Potential for further downside as price rejects at previous support (0.9540).
if bearish momentum continues, the price could head down to the previous resistance zone on the daily time frame (around 0.9400).
The Canadian dollar has shown good strength recently which we help create bearish momentum on this pair
Keeping an eye on EurAud for a potential reversal of trend over the next few days. If we get a good move up of the old resistance line it wouldn't be a bad idea to go long expecting a major reversal. We'll see.
After a long uptrend GBPJPY is looking to correct. The dip under previous low before closing above is a signal that things might recover in the short term.
I'll be looking to short the retest of the broken trendline. Horizontally, it's a 4 touch support area which is now resistance, making it a perfect place to short.
JXY is currently looking like it's going...
The recent bullish flag pattern has been confirmed and retested.
Therefore, we could look to see a move ranging from 295 sats all the way up to 360 sats (around 30% gain).
Effect.ai is a very exciting project that has already worked with the likes of Akon and Kraft Heinz.
I do suggest doing more research about this project before investing to see how effective (😉)...
AUDCAD is probably my favourite set up for this week. Clear levels, clear break and hopefully a clear retest. Watch for price to move up correctively and enter on break of correction.
See links below as to why we're looking for AUD weakness.
Good luck and trade safe!
Only trading the break and retest strategy. The break has already happened now I am waiting for a retest with multiple wick rejections to confirm a sell. If the sell opportunity is there I will be looking to sell to the weekly level @1.18430.
As you can see from my previous analysis, I prefer multiple confluences on the chart as this gives a better opportunity to be accurate when trading. From the chart I see a Head and shoulder pattern and assuming this is correct then it may go the distance of the size of the head of the pattern, as it does usually with most H&S patterns. The most surprising aspect...
We can see price broke out of an ascending structure following CHF weakness across the board. Price is now retesting the top of this ascending structure.
Where will price head next? Two potential price paths for you follow.
Have a great trading day and weekend!
On the mark, I've illustrated how we had 4 entries on gold which aligned with our trading plan.
As soon as you understand which way the trend is, you can easily find loads of entries. Like my charts? Drop a like!
The dump earlier today was an emotional one. This is apparent from the big red candles going from the 0.786 level to the 0.5 level in 7 hours. It's investors acting on fear.
This, combined with the bounce off of the support zone & the 0.5 level gives us a recipe for a quick recovery. Those who sold off realise they're wrong, buy back in. Those who sold the...