prediction , breakout on major resistance , minor res broken, price retracing as it is the end of the week , amazing that price literally stopped at that resistance right there, otherwise good momentum even on higher time frames
opinions and engagement welcome as always
price is going back into the lowest zone of my key zones , so that is also part of my...
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.
Sugar weekly candle just closed above the 20 ma and the 21 ema. Looking left when that occurred in the past we had at least one additional full body weekly candle close above those moving averages before trend reversal OR start of a further uptrend , especially in those cases that 21 ema crossed over the 20 ma to the upside.
Linking this idea with my...
GOLD HAS HAD A GOOD RISE TODAY
THE RESISTANCE LEVEL WAS BROKEN AND HAS CONTINUED THE RISE
AS SHOWN FROM LEVEL 130.934 TO 135.098 THERE HAS BEEN A PULL BACK THEN RISE PULL BACK THE N RISE BOTH TOUCHING THE SUPPORT LINE SHOWN ON UPTREND THE THIRD PULLBACK DIDNT TOUCH WHICH I THINK MEANS THIS WILL BREAK OUT AND CONTINUE A NEW RISE WAITING TO CATCH ON A PULL BACK...
Last week, GBPAUD and GBPNZD were identified as potential buys and buyers did not disappoint
This week, GBPCAD could be the chart to concentrate on as price has broken the previous daily high and downtrend
Look for intraday buy setups should price stay above 1.6230
The Loonie is starting to look very interesting.
Still in a Weekly Phase 2 and trapped between the Monthly R2 pivot and Yearly pivot, a break above and price could reach the long term trendline. Any sell trades should initially target the yearly pivot.
A clean break of the yearly pivot would open up to more selling.
As we can see on the 4H time frame we have had previous Higher highs and Higher lows.
We are now waiting for a break above our Daily Resistance level at 106.800 and also a strong previous Supply zone at 106.650.
We will be aware that price could in fact reject the Supply zone and break below trend towards 107.350 which we would look to enter upon a break of...