NZDJPY has shown signs of a reversal at this level for a while now. The daily resistance zone @ 76.500 is holding strong and we finally have a break of the 1hr bullish trendline with a lower low being made.
Price has now pulled back a little and is rejecting the 1hr 50ema from below. Price is also below the daily pivot level so that is a another potential...
On the higher timeframes such as the daily chart we can see that NZDJPY seems to be consolidating between 75.00 and 76.50.
We can see that on Friday price closed giving us a decent low test candle on the daily bouncing off our support level (75.00) forming a beautiful double bottom pattern. Ideally we would of wanted the body of the candle to be smaller or a...
4hr chart showing a counter trend trend line break with commercials at all time high in short positions. This could lead to WTI falling back to $60.00.
Looking for short opportunities down to this area.
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I suspect that this market is going to continue to find plenty of support at the 1.25 handle, and then again won’t be able to break out to the upside, at least not for a significant move. The next couple of days are going to be very choppy and sideways, so therefore very unlikely to be...
1.Daily Trend line Broken
2.Support Broken Resistance Valid
3.Profit margin 1:3
4.Price action high on the curve
5.Strong price action move up to the zone
1. There are numerous support (minor)v obstructions