Directional Bias For EURCHF Is Long.
Before entering the trade I would wait for break re-test of downtrend and a strong Bullish candlestick close (Daily)
However price could kiss trend-line and and carry on falling, but due to bullish momentum i believe this is the start of
a upwards trend.
A possible short term retest of 109 followed by the base 4 hour trend line base of the triangle followed by a monstrous move to the upside taking out the psychological level of 110 and shooting up to 111.
This is not financial advice.
On the eur/aud, I see bullish momentum followed up by retracement levels between 0.5 and 0.618 which indicates great pullback. Price seems to respect the support zone and does retest it as well so I'm hoping for a clean retest with the price moving higher.
With a breakout on a previous uptrend and an upcoming resistance from a previous head and shoulder this is called the neck line which i have labelled on the chart. The breakout has retested the only support line and i will personally be taking a short on this pair.
After the Bears took control at 1.36500, a very strong bearish momentum has pushed the market in a strong downward trend, retesting off resistance zones as it continues to decline.
As our previous trade successfully closed breaking past both of our targets. We are looking for another retest entry to profit from the bearish momentum.
On the audusd there seems to be a strong support on the weekly so I decided to head over to the daily and I noticed a downward channel has been created consisting of lower highs and lower lows.
Hoping for price to retest previous support structure so I can go long.
Use lower timeframes to monitor movement and enter trade if necessary.
GBP/AUD is seeing a much anticipated retracement after melting out of a series of consolidation ranges that kept price action in between since mid June. Subsequently this pair has created a new lower low before initiating this correction that is taking place which seems to be coming to a halt as we can see a bearish divergence on the H1. RSI illustrates that price...
USD/CAD had entered a parallel channel since the end of July and has been keeping within till the breakout 2 days ago to the upside and rejected the resistance level of 1.3125. We can see price action has come down to retest the channel and is struggling to re-enter and has rejected it by forming a doji and a spinning top on the H4, implying uncertainty and a...
if you didn't get in first time heres another chance to get in. Technical analysis.
if your style is aggressive u can enter now. I would recommend waiting for a 4hour candle closed below the previous candle low
OBSERVATION: Price broke past the bearish resistance line. The resistance line which happens to with a strong support zone at around 1.08400, which is currently being retested for a second time after the breakout. If this zone is respected, I will look for a candle formation in order to go long, targeting 1.08990 then 1.09400. A break...
Price consolidated starting around the 4th of May and finally broke below it on the 18th. Currently we are seeing a potential retest near 1.35000 which was a strong support zone since the 4th of May. I am waiting for a candle formation on either the 2H or 4H timeframes before going short on this one.