Basis: Monthly uptrend expected to resume as bearish correction comes to an end.
Setup: RSI / price divergence indicating oversold conditions and down trend weakness at the 1.056-1.06 Daily and Weekly support area. Additional confirmation from strong bullish candle at Friday close. I expect price to continue its upward movement to resistance at 1.0925.
Targets:...
Publishing another one for fun. Working on simplifying my approach.
Fundamentals: Lower risk of a contested election and hopeful news about a U.S. stimulus makes growth currencies more attractive. U.S. markets showed some strength last week as uncertainty surrounding the elections was reduced. Gold prices may rally as dollar weakens. Expecting some Aussie...
A downtrend in EUR/USD beginning on 1 September 2020.The price bounced off of support at 1.6309-1.16324 starting a bullish correction. The distance between the 3 EMA and 8 EMA on 29-30 September in the corrective move may suggest that EUR/USD is approaching overbought. Resistance aligned with 61.8% Fibonacci level suggests a top may be forming. Support may become...
First public trade idea for everyone to make fun of.
AUD/NZD has been in a clear downtrend since mid-August with an occasional pull back to trend line resistance. A Head & Shoulders pattern may be emerging as price tests structural resistance in an area between 1.08327 and 1.08497. If the price moves above 1.08497, then it will break the downward trend line...
