The AUD/NZD daily chart has had a strong sell off the last two months or so which means the bears are in control at the moment. Prices busted right through a strong support area which was respected twice before on the chart(marked with circles) and now we are waiting for prices to rotate back up to this area and hopefully print a bearish price action trade...
The chart shows the weekly chart of the USD/CHF currency pair, you can see that prices are sitting right below a very key area of 1.00. Prices have respected this area on the chart before and I am fully expecting the prices to respect this area again.
if you zoom out this chart you will see a downtrend that has been in control of the market for a long time now....
The AUD/USD has strong bearish momentum at the moment and an opportunity to get into this bearish market has just arose on the 4H chart.
Prices have tested the .82000 level on the chart after a pullback. This is a perfect opportunity to get into this trade short. The pin bar isn't the biggest or the best but it does show rejection of higher prices. Couple that...
The EUR/USD is in a steady down trend and the market is perfect for selling short. I will be looking for prices to rotate back up to the resistance zone marked on the chart. This rectangle acts as a resistance zone because the bottom is a round number of 1.23000 and the top is a strong resistance level.
Somewhere within those two levels I am looking for a...
The GBP/USD 4H chart had strong bearish momentum until it hit the 1.56000 level and prices respected this area. Prices stalled and stayed within the blue box on the chart until prices finally broke the support zone at 1.56000. Now that prices have broke through the support zone we can assume that the bearish momentum is going to keep pushing the prices lower....
