Looking for a pullback to the highlighted area which is strong confluence between the rising channel support, a key demand level and the 61.8 fib, as well as the 55 SMA also being in the same vicinity. Looking for a pullback for a long with a target of at least 400 pips to the most recent highs if not further.
Possibly crunch time for the AUDUSD. We have indecision candle at the top of channel resistance which is also the 50% fib of the most recent downward move. However, we are also in the longer term uptrend which you could review the recent channel as a correction with price sitting at the 61.8% fib. How to play this? I'm looking for a break and close to the upside ...
This was a perfect bounce off of the long-term trend resistance which is now part of an upward channel. It broke a significant supply and demand level but I missed it. Looking for a retrace back down to the trendline and again waiting for a break of major level, alternatively I will look for a short at the upper channel resistance.
This pair has just hit a major supply/demand level at 1.905, looking for a drop and break of minor support at 1.8910 to take along at the confluence between minor support at 1.880 and the upward channel support which goes back to August. I would be looking to take a long back up to 1.90 as a whole number and major area.
Indecision daily candle at channel support, along with minor horizontal support level. Looking for a break, close and retest to the downside with a healthy target of 1.246, alternatively if we see a move upwards beyond the supply/demand level of 1.274 I will be looking to long up to the channel resistance level around 1.30.
Could be seeing a bear flag which I would look too short on a break and close below channel support. Alternatively we could be seeing a slow move up to retest the long-term trend line which was broken earlier this month at which point again I will be looking to short. Either way a key level of 0.68269 will be my target as a significant supply/demand level.
Many ways to play this pair. If we see a break of support at 0.76275 I will then be looking for a break of the upward trend line which has been in place since the beginning of the year. If we see a break to the upside above resistance and short-term channel around 0.77126 I would still need to see a break of a significant supply/demand level at 0.78116. If we see ...