AUDUSD Approaches huge Demand Zone. Confluence of Trend-Line Demand with a 38.2 & completion of a Bullish Gartley Pattern
Be wary of the breakout to the upside owing to the Daily EMA's
Currently witnessing a 3 Bar reversal under the 100 & 200 EMAS alongside the 61.8 Fib level. This pair is primed for breakout.
Expect a short here on trend-line then the breakout from the D point on the bottom on a retest of previous support for a possible continuation move upwards. Beware of breakout topside in current position.
Its important to note that EURCAD stopped for the week in a very interesting area. An area with Bullish confirmations.
This looks like a really clean set-up on really strong PRA - Must be careful of the potential bull flag forming now but bias is down for sure.
USDCAD in Big Supply Zone, posting Divergence on Peaks
Ripple Continuation down from Descending Triangle
Multiple areas of support beneath price make the short look as tempting as eating raw chicken.
On retracement against trend-line with Fibonnacci confluence.
Currently on a Weekly retest, will be expecting a Long trade once we get the reversal pattern completion. Currently in a Short down to bottom of range / Trend-line.
Price broke below both Weekly Trendline & Support level, failed retest on Friday and posting a nice flag now. Waiting for Candlestick action.
Looking at a rejection on the cross section of x2 Weekly Trendlines. Waiting for candlestick confirmation as could still be bullish.
Always an unpopular forecast especially when like me you have so much invested but just be careful in this area as price may reject for a continuation downwards, I think in the long run we may get our Bull-Run but maybe one more push down first. Fingers crossed it sails on through past 10k with no problems!
News can obviously go either way but the Aussie looks Bullish across most pairs. As always we wait for news to commence and buy/sell the first retracement.
Video explains it but the Trendline Slash has occured RSI shows price not likely to break back through now looking for a ranged Shoulder to form within Demand & Supply.
Something I have been waiting to happen could be about to unfold.
Price has broken out of the Inverse H&S pattern I think it should retrace down to the Neckline area for aa Long Trade of 230+ pips.