If I remember correctly, this analysis is very similar to one I've posted earlier this year and it was also on EURAUD. Today, if we look at the daily chart, we can see that this pair has broken an important uptrend and might have completed the pullback. In the H4 chart, we can observe that the smaller uptrend has also been broken. On the chart above, my analysis...
EURAUD just broke out of the uptrend. As we know, once the trend line is broken, there often is a pullback. In this case, in order to complete the pullback, this pair should go back up until it hits the trend line of the new downtrend around the 61.8 retracement. A bearish RSI divergence also confirms this short possibility. If it hits the entry point, I recommend...
As we can see in my analysis, AUDUSD just formed a shooting star right on the trend line and it happens to be right on the 61.8 retracement. Also, the bearish RSI divergence suggests that this pair might go down a bit until it hits the daily trend line (which is an uptrend). Until then, in my opinion, this pair is going down. However, we must be aware that a break...
USDJPY just broke out of his downtrend. As we can see, the pullback is forming itself. It should continue to go down until it hits back the trend line in order to complete the pullback. Then, if the candlesticks confirm the bullish reversal, it could be a good opportunity to long this pair.
