With the EUR/GBP in a clear downtrend, after a pull back from the previous swing low in the 0.7870 area, a trend continuation short opportunity is brewing up with today's high test bearish reversal bar with a potential close below 50 ema. There is also RSI divergence adding to continue short in trend. Price rejection is seen around 0.8020 with a high test bar...
USD/CAD is an uptrend producing basic price action cyclicity and offering trend continuation entries at the end of consistent pullbacks. Today's bullish reversal bar, though appearing to be a high test close, suggests the resumption of bullish activity back in phase with the overall trend. I'm looking at the following to take a position north: - low test close of...
GBP/CAD has tested the rough level of 1.8159 4 times within the ranging channel and most recently has closed as a bearish low test above this support level. This signals at a potential rally back into the top channel at approximately 1.8474 continuing to move within the range. There are two entries into this reversal: 1. Entry above low bearish test bar of 15th...