EURUSD is a potential buy!
Price tested the support line at 1.13372 before and then the market pushed up. It then held the resistant line at 1.15614 and then the market pushed down. Minimal convergence/divergence at 1.13915 (0.618) but then price broke through and continued a downtrend. We are looking for a long order to complete wave 3!
- Wait for confirmation...
on the 4hr chart I noticed a really nicely formed head and shoulders pattern come up which than turned into a newly formed support zone inline with the fib retracement of 0.618 so I can safely assume price will hold this support zone and go straight up.
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.
Breakout of the range this pair was trapped in since October and price retraced to the 61.8 to retest 1.15 psychological level and should bounce back to the upside.This zone holding as support and price action currently consolidating on the lower timeframe, implying a potential bullish impulsive move. Clean charts giving importance to pure price action and market...
GBPJPY failed to breakout from the zone making three tops that provide sufficient resistance.
Falling was accompanied by another attempt to move up, acting as retracement providing additional space to continue move further down.
Weekly chart provide sign of piercing through lower structure - potential to further down move.
Cumulatively nice opportunity to ride one...
Multiple Fibonacci retracements appear to show a 0.786 region history and current confluence. Will this region (which has remained valid in the past, even with 25% variance around the exact level) hold ?
Long Trend Continuation Set-Up based on 0.618 Fib Retracement.
After series of higher highes and higher lowes another move up could occure.
Stop Loss relatively tighter because of potential trend exhaustion.
Take Profit according to the nearest structure levels.
Still quite decent 1.3 Risk Reward Ratio.
Hey tradomaniacs,
welcome to another signal!
Important: Wait for the Breakout and retracement to the resistance of the range!
Type: Swingtrade
Sell-Limit: 1.49516
Stop-Loss: 1.49727
Target 1: 1.49181
Target 2: 1.148559
Peace and good trades
Irasor
Wanna see more? Don`t forget to follow me.
Any questions? PM me. :-)
Bullish divergence on the H4 using stochastics shows price exhaustion and a well due correction for this pair. Cable should be well supported at the 1.2920 level and on the H1 we see decent rejection of this zone, which could be the start of the reversal of around 120 pips.
- EMAs crossover on the H1.
- 38.2 fibonacci level fulfilled, retracement could be over and EUR/JPY should fly and form a new higher high towards 134.00 region.
- Daily support level of 131.81 has held up and price has rejected this on the D1.
- Both EMAs acting as a dynamic support on the H4.
GBPUSD:
-on weekly quite strong resistence almost reached ( order for sell already prepared)
-on daily little bit of a move needed to trigger the trade
-stop based on fibs
-take profit based on structure mixed with fibs
- quite good risk/rewards ratio
GBP/AUD could see a bearish reversal as price seems to have rejected the daily resistance level of 1.8185 and as a result forming a dragonfly doji on the H4. Along with the early hours of today where price failed to break this key area of resistance yet again.
There is bearish RSI divergence occurring on the H4 which suggests the strong bullish momentum could be...
EUR/USD could have finished its retracement after a series of bearish momentum. The 61.8 fibonacci level seems to be holding up as price has rejected it on the H4 a couple of times. You can see a doji and spinning top on the H1 which suggests uncertainty around this level and potential reversal to the downside as PA seems to be exhausted around 1.1655. Price has...
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