AUD and NZD are due a pullback after some strong bullish moves.
Im liking this pair, its broken back above resistance, a pullback around the EMA's / structure could give us a 4H entry.
Ill be waiting for some bullish price action to confirm an entry
Daily higher low made, 20/50 EMA crossover close by also.
1H breakout of highs and price has cleared an area of consolidation.
Pullbacks on the 1H towards EMA's and structure to go long now we have some confirmation the buyers are stepping in.
AUD and NZD are showing weakness.
Nice breakout today, im looking for a pullback to previous highs / 20 EMA / Daily pivot followed by bullish price action to then and then only take this market long.
We must had an understanding of sentiment i.e. Risk on or Risk off
ZB1! often leads the way for golds move with a strong correlation. With this chart breaking out lower I would expect to see a fall back down the the swing lows and this means we can look for sells in GOLD (in the short term)
Price is breaking daily trend line and 200 EMA, overall we can see sellers stepping in to what looks like a weekly retracement
Im now looking for a 4H lower high, maybe a re-test of trendline or 200 EMA on the 4H
Price looks to be breaking the trend line to the downside now with GBPUSD looking weak today coming into NA trading.
For me to sell, I need to see a 4H lower low and then I will look to get short on a pullback / re-test opportunity.
I need to see some commitment from the dollar. A clean breakout either side is needed to establish a bias. Currently, we are trapped in a structural range with choppy price action - don't get caught up in this! Use the majors for direction ...
With cable looking stronger than other majors such as NZDUSD this session, I fancy a move higher in this pair. We saw buyers push higher, a corrective move throughout Asia showing weak sellers.
We then saw a bullish close on the 1H above daily pivot and bouncing on the 20 EMA, all timeframes are above all 20, 50 and 200 EMA's. I will class this as an intra-day...
Im liking how price is breaking down on the 1H, 4H and the daily timeframes. We can see a 20/50 EMA cross also here. Im now looking for a 4H pullback to structure to go short. Its important before we execute we see a weak EURO and a stronger CHF so asses the majors
If we see the DXY retrace in the short term before bouncing I like the look of this pair for a long.
Pullback to re-test 0.38 fib level and 0.92000 psychological level / support for the nest bounce in this strong daily uptrend.
I will be targeting 0.9600
We saw a nice fake-out move lower, buyers immediately pushed price back above 1.38500 - below this level look for shorts.
If we make a higher low / inverse head and shoulders pattern on the hourly, we could see a run up to 1.40. A break of this level will confirm longer term bullish sentiment