AUDCHF price has bounced from the major support zone highlighted by the pink rectangle. It has also been travelling in a descending channel. We believe price will now make its way up to the zone shown above (0.70500), price has made a Higher High on the 4H chart, it will now move up, break above the descending channel , come back down to retest the channel like...
Looking back at 2017 the last good correction we had was from 5000 to 3000 usd (40%) where we made support on the weekly time-frame around 3600 usd.
BTC coming close to the 200 week MA and support zone, but I think the big even of 3000 needs to be tested before we can think about moving to the upside.
3K was tested before we had the massive exponential run-up to 20k.
3 lines of potential support for this fall I'm seeing our number 1 at 7413 which is top trendline of the big descending triangle pattern / adam and eve neckline we broke up from # 2 is the 4hr 200ma at 7060-7080 #3 is the 1 day charts 50ma at $6853..to have a chance at forming a higher low on the day chart, triggering the current cup and handle unfolding and the 1...
CAN WE GO LONG ON US Wall Street?
Alright, so prices currently above our current support zone at 24500.0.
We could potentially break to the upside, penetrating our bearish trend line with the potential of reaching the 26000.0 Region .
Is This Probable?
Let's wait and see!
OIL WTI is in short-term uptrend. In the long-term it is in large range 42-55. Now price is back to the wide support zone where we will be waiting for any signals predicting to go higher. In the history at the begining of august we can see battle of supply and demand when price stay in range for a few days. We could see in this area increased demand activity.
1. Notice the big h&s that formed
2. strong suppport
3. It seems like the price want to get in the channel again
Therefore expect higher prices
Best of luck :-)
USDCHF is testing an important zone which has served as support in september october and november in 2016.
Now after price made a double top and broke the channel is headed down to this zone.
I will wait for more bearish confirmation so keep an eye on this zone!
Currently have this pair on my watchlist for the upcoming week. Should price continue to move downward breaking the 200 EMA, I'll enter short beetween 0.70500 and 0.69600, coincident with the head and shoulders neckline, on a doji/pin bar candlestick. I will then consider to take profit / scale out around 0.6700 in case the upward-sloping trendline will provide...
Price closed Friday near a S/R zone after becoming overbought a week before. Now, it seems likely that price will fall to the red support trendline as a result of that, and the Earthquake that hit New Zealand. Therefore, it will likely follow the red arrow down to the trendline.
