looks like we have picked up a bullish overall trend. I can see that it keeps trying to retest our main key levels of resistance and support. As our resistance and support get weaker we have to wait for a candle stick pattern and confirmation once it breaks either or. For now i expect to keep dropping back to retest support currently sitting at 1.12032.
Bearish day for USD/JPY breaking iut major uptrent and reverse back down. We broke our key level of support that was at 107.680 and looks like we will keep droping towards our other major level of supoort that sits at 106.799.
Looks like we rejected our major key level of resistance currently at 0.69336 creating a double top pattern and created a bearish hammer candle stick pattern i expect to drop towards previous major key level of support currently sitting at 0.67538.
Currently in a bullish channel looks like we are going to retest previous resistance currently at 0.67467 before we drop back down to the trend line or beeaking the trend and re-test support sitting at 0.66993 for now i expect to head bullish as out latest candle show us a bullish hammer.
Currently sitting on our major key level of support of 108.083 heading uptrend and looks like we got a bullish pin bar. I suggest not to make a move before that candle closes and pinbar is confirmed.
Im going with my bearish bias as we struggle to break the resistance level currently at 0.87909, double top formed
We have been on a bullish channel, re-tested resistance of 0.67208 three times making it weaker. Nothing going on for the new zealand dollar but we will see bullish pressure pushing up beyond resistance as US releases its results on OIL inventory and real state. Alternative feed back for US can cause the tripple top to be valid and fall to support at 0.66148.
Lots of going on for USD/CAD today, last night we were able to hit our target selling off at 1.30217 and were we see the candle reverse as canadian buyers come in betting positive results on the CPI results and positive manufacturing results on behalf of canada. We also have lots going on for the USD as we await results on the housing marktes and OIL inventories....
We failed to break support at 1.30924 creating a double top pattern. My bias concludes on the next few hours we will see usd/cad fall.
currently re-testing reistance of 0.87953 with signs of rejection and creating a double top pattern, im expecting for this pair to keep its bearish chanel for a break through support currently sitting at 0.86728 and maintain its bearish momentum
Nice A,B,C setup keeping in mind the rejection of resistance at 0.67219 and double top pattern formed alingning with our major structure, i say we go bearish to re-test our major supoort level of 0.66118 as the US Dollar gets weaker.