Short and sweet weekly watchlist as it is pretty late.
Will be looking for price to break lower than 0.874917 to look for potential entries depending on how the pound and euro correlations look.
Closed within our key level, not the best of wick rejections and with the current bullish pressure across the Euro I am a bit concerned about looking for shorts. However, I will begin to monitor the M15 just in case we do see a momentum change.
Price failed to maintain our key level and burst through with a big bullish candle. I am sill holding my bearish bias as we are still holding below daily support at 1.18463
Two amazing continuation opportunities presented themselves throughout the day. Break of major structure, consolidation and then break into the directional bias.
Wait for that momentum shift, need a break of 1.17605 and then a pullback to anticipate a continuation.
Nice closure with a wick rejection into our key level, remember I will be looking for longs up to the next key level as long as we hold the current key level.
Close eyes on 1.25789, lower low has been set just need a pullback to occur within the market and look for price beginning to deplete. Wait for the level to create, add up confluences and we could potentially have a trade.
Not the ideal close I was expecting however, price did reject strongly off the key level marked, could potentially look for some entries.
Starting to see price break away from support and away from the trendline. We look to be clearing all traffic to the left, as long as we get a strong closure below support I will be waiting for the retest back into the key level or maybe a future trendline rejection.
Taking a step forward with the analysis that is being posted to our page. Going to be sharing technical rundowns everyday explaining some of the things I will be monitoring throughout the day. I will update you on any pairs that develop throughout the day during my trading hours. Please note these are just my opinions in the market and in no way should be...
USD/CAD (H1) - Starting to see this breakout, break back in (BOBBI) with a wick rejection into the key level. Looking to target some of the H4 highs.
EUR/GBP (H1) - Starting to see a nice rejection coming into this key level. Still concerned about the amount of wicks on the previous push so I will be playing this safe and staying between the range.
EUR/CAD (H1) - Double top being presented. Strong wick rejections coming into the key level which lines up with our directional bias. Looking to target some shorts down to H4 support.
Beginning to change directional bias towards the upside. Will be looking for a break and retest around the key level indicated to target some of the H4 structures. Could be looking at a very high R:R right now.
EUR/JPY (H1) - Momentum starting to switch. Price failed to make a higher high and in result broke lower. Multiple wick rejections around key level. Bearish momentum starting to come into play.
AUD/USD (H1) - Potential break and retest on the hourly timeframe, seeing some nice wick rejections from this key level. As long as price maintains this key level I will be looking for shorts.
AUD/USD (H1) - Potential break and retest forming for AUD/USD. Price has been dropping for a while now so we do need to be careful as a pullback may occur. Bearish structure beginning to form.