NZDJPY enjoyed a rally towards the weekly support .
The daily timeframe had its last candle close with an indecision candle.
i see a possible move of the price up , either we might see a bounce from the 50 EMA on the H4 timeframe before we proceed up(take an entry) or the price might rally up past the 50 EMA towards the resistance and the 200 EMA.
thanks
As you can see on AUD/USD Chart , the price is going to hit support or 50% fib and expected to bounce or break. I'll wait for confirmation.
Happy and safe trading. (follow and like for more)
DaillyFx
Outlook: Bearish
Trend: Up
Volitility : 3%
News : both went neutral
Looking at the 4H chart for the AUD/USD I see that we could be looking at a possible short setup that has the potential to run down quite a ways. Right now the pair is in a strong bearish downtrend and is currently sitting on top of a weekly support. You can see from the past the pair has tried numerous time to crack through the 0.77317 resistance level only to...
Waiting to go long on the retest of the trend channel.
A falling wedge seems to have formed on the daily so this pair looks bullish in the bigger picture.
This is a simple short term trade setup.
Confluence:
1. Looking for price to rally back around the 114.00 level then continuing the uptrend.
2. Price hasnt retested its breakout yet on the higher timeframe (daily)
3. Key level is the weekly support 114.00
4. Head and shoulders on the 1HR chart indicating probable rally downward before
continuing uptrend.
5. Probable tps
