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AUDUSD looks like its struggling to get down past this level yet again. could be a chance to grab some quick profit.
Or it may go longer term and move higher. But with the rate cuts its highly unlikely
Id be definitely looking for a move up to 0.674-0.675. Then it may look to reverse and move lower.
Any questions feel free to ask.
Now that the predicted sell off to the (faster than expected) demand zone of 8k has nearly concluded, A reversal is set to happen. Bids at 8.3-8.4k have been filled for both longterm & short term positions. Expecting the classic "µ" reversal up to whatever planet it lands on. A weekly close above $8,746 confirms that capitulation move to 8.1k was the bottom....
Euro is showing continued weakness from yesterdays PMI news. Looking for the NZD to continue its possible turn higher. If this continues for both this could be a multi day move with plenty of time to scale into this position.
pair climbed high breaking the highest res zone , forming a new zone, however price is dropping , DOUBLE TOP POTENTIAL, after break of neckline and price pushing below , zone low , strong sell must be anticipated.
If you missed the recent EURUSD rally (), don't worry, another opportunity is around the corner. I expect a short pullback on the pair to 1.11141 minimum, but my conservative buy entry is at 1.11033...
PLAN YOUR TRADES AND TRADE YOUR PLANS...
These two are called reversal patterns on GBPSEK. It is about the shape of the pattern. This is experience-based knowledge. This does not mean the most recent pattern is bound to reverse. This is not a prediction. It is a probability estimate.
GBPSEK is a very volatile instrument which is much avoided. How strange cuz volatility is needed to make profits (and...
Trading week ended in undecided whether the bears should continue dragging the currency pair down or bulls should start taking the pair upward. Next week will be an interesting runs for AUDCAD.
A risk/reward of 1:3 could be in play. However, in other to achieve this, resistance at 0.90295 and 0.91000 needs to be violated by the bulls to push the pair to profit...