All Trade Parameters shown on the chart. Short setup in Daily Supply. We trade the daily downtrend
All Trade Parameters shown on the chart. Short setup in Daily Supply. We trade the daily downtrend
Daily supply imbalances created on EURUSD in a clear downtrend after taking out a weekly demand level. Short around 1.1762
After falling from consequent 2015 highs of 138.95 and 134.65 down to 101.88 in mid 2016, CHFJPY bounced back to 0.5 of its previous move where it faced strong supply zone and and thus formed point 5 of the major bearish yellow formation. Following that, the price resumed its downtrend. Even though, this global outlook is useful to understand the long-term...
Price broke through support with a huge bearish engulfing candle now sitting above wedge trend line, I am expecting a slight pullback to broken support turning resistance then a break though wedge & retest to get some more downside to this pair. Will watch throughout the week how it plays out..
Watch for breakout of wedge, price is currently above monthly support..
Watch for breakout & close below 1.6800 zone (H&S neckline). This pair rejected its weekly downtrend line that has held since 2015, I believe this pair has a lot of room to the downside. GBP news this week, I will look to go short during that time. Nice opportunity here for a long term short potential will be watching closely!
Price broke out of its triangle, waiting on a retest & potential gap close to go long. NZD at a 5 month low now & declined more over the weekend. Further weakness should take place for NZD I believe, Will be watching price action for a break to the upside to form a potential higher high..
Price back up at strong resistance level that failed to break 4 previous times. I Believe we are still range bound for now, but a break & close above this level can give us some upside. Personally don't like to trade this pair often because it is too choppy but if there would be a chance to trade it, it would be now. Might see a slight pullback & retrace back up...