EURCHF H4 - Still on fire the EUR edges higher, we broke that double top zone yesterday, saw a nice couple of H4 retests and have since taken off. Next area of resistance is 1.07600, a break of this should see up edge higher.
Gold is Bullish - We look to Buy at 1745
▪️ Previous resistance level of 1745 broken.
▪️ Positive overnight flows lead to an expectation of a firm open this morning.
▪️ A mild correction has been posted from yesterday’s high, this is seen as a retest of the breakout level.
▪️ A bullish reverse Head and Shoulders has formed.
▪️ Further upside is expected...
GBPJPY M30 - Struggling to maintain this upside momentum on GJ. Could see a break of support, retest and correction down to our H1/H4 trendline support zone. Really nice RR if this breaks and retests nicely.
WTIUSD H1 - Hopefully we can maintain a bit of bearish pressure to retest that broken resistance zone (now support) at 34.30 this should be a solid entry point! Already seen this, apologies for the delayed post, looking to break previous highs to maintain upside momentum.
EURCAD H1 - I've adjusted resistance zones to show hourly resistance now rather than H4 resistance, sat around that 1.53 handle. EUR has ripped over recent trade, would be nice to see a correction. No confirmation here, I wouldn't suggest taking a trade until we see some... 1:11 with current projections, so can afford to lose some by waiting for some PA...
DXY H4 - I would expect us to push to the trendline resistance zone at least. We may pullback to 98.85 before another bounce, like we saw on the 20th and 21st May.
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t.me
t.me
AUDUSD H4 - Double top on the higher timeframe forming, 0.66 is a big psychological whole number, we could do with a channel retest really, all very aggressive movements this morning as we move into regular trading conditions (market volume). If we break this 0.66 handle to the upside, we can enter long on a retest, PA confirmation req'd.
For more information,...
Possible short setup here as we have failed to break that resistance zone (marked with the green box). We ideally want to break the trendline support and see a retest, so that we can confirm the change in trend. The retest and PA confirmation presents the sell entry point.
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UK100 is Bearish - We look to Sell at 5933
▪️ Broken out of the channel formation to the downside.
▪️ We have a 50% Fibonacci pullback level of 5936 from 6209 to 5665.
▪️ Positive overnight flows lead to an expectation of a firm open this morning.
▪️ Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 5933,...
GBP/AUD - Long Trade
Price has broken the downward trend line making a higher high indicating a change in trend.
- Long on pullback to Demand Zone (Marked Green) if the level holds.
- Taking profit at the 3 Supply Zones (Marked Red).
FX:AUS200
Weekly – Bullish channel with bearish divergence
Daily – Bullish flag and overbought
4H - Breaking higher from bullish flag - looking for re-test to set longs
Buy AUS200 at 6560. Stop 6520. Target 6660
Overbought and bearish divergence on longer term charts could stifle this move
Good luck!
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Downside movement is expected for the Euro against the US Dollar in coming weeks.
1W:
On the weekly chart we saw a large head & shoulders reversal pattern form, and price has since broken below the neckline support & found sustained resistance holding below it.
We've also seen a smaller ascending trend line broken to the downside with a weekly candle close...
A bearish butterfly pattern has completed on Eurgbp. This is a 1:3 or more trade opportunity. I have my pending short order at 0.9055, target at 0.9010 (45 Pips) and SL at 0.9070 (15 Pips). Price is likely going to move lower if it goes as expected. I will cancel this order if price gets higher than 0.9070 before trigger.
On the Daily timeframe price approached the neckline and top of the consolidation range yesterday and pulled back to around 50% of it’s movement, this suggests sensitivity around this region. We look to today’s close as well as tomorrow’s to confirm this as a lower high. However, price remains above the moving averages which it’s using as support and is currently...
