AUDUSD rejected the resistance zone of 0.66628-0.66888, to return up to the price of 0.67133. Now the risk/reward is in our favour to enter longs. We could see some drawdown until a further push up, thus we only advice on placing half the lot size you usually place.
GBPUSD met the descending trend line, then returned - now appearing to form a head. GBPUSD is now forming an order block at its current price, if it continues to break then we will be ready for shorts.
Thought we'd finish off today's trading session with a quick and cheerful scalp trade!
Strong bullish momentum is currently surrounding AUD, here we can see the price has moved into the support zone of 0.65630-0.65620. We're expecting the price to at least push back up to 0.6590 roughly speaking. Due to the bullish pressure, we could see the price push even...
AUDNZD tapped our D1 support of 1.03235-1.02390, followed by a sudden bullish impulse up to 1.04265. As the support zone has been hit, accompanied by a strong risk-reward ratio, now is not a bad time to enter long positions. However, we could see further retracement to 1.03235 level, due to this we advise on entering with 25%-50% of your normal lot size. As this...
GBPCHF is currently testing a support region of roughly 1.26040ish. GBPCHF did break this price in the start of February. However, the risk/reward is now strong enough to enter long positions. If GC breaks the support of 1.26044, then short positions should be entered to push down until roughly 1.2540.
Risk/Reward is the key!
USDCAD has met the ascending resistance line which has been respected since June 2019. It appears to be forming a head around 1.32905, which means the risk/reward is strong enough for us to enter short positions. This swing trade has enormous potential behind it, let's see how it does.
EURUSD appears to be bouncing off the resistance zone of around 1.0020. It appears to be a good time to enter long positions to follow the price up to 1.1149, now the risk-reward is in our favour. It may be worth jumping in once a rejection of the resistance zone has been confirmed.
