Tomorrow I would like to focus on the short opportunity on AUDJPY. As can be seen, upside trendline and horizontal support have been broken, and the price also has a fake breakout movement on the horizontal resistance (which is previous support). Yesterday's large bearish candle determines short-term selling market, I'd like to look for sell signals on lower time...
Gold has a very weak day candle under the short-term support, which has been tested several times and now has become resistance. Now the price is retesting this resistance. If price could stay behind thie resistance zone, I will wait for a weak candle to test levels around yesterday's low based on the downside trendline, then look for short opportunity after a...
After a fake downside movement, GBPCAS has go back above 2.0550 support, which confirms this support zone effective. If price stays above this zone, I'd like to look for long entries. If we ignore yesterday's fake movement, we could see a perfect upside trendline, and today I'd like to wait for long signal based on this trendline. Now it needs some consolidation...
I used to expect long opportunities in this week, but price has been resisted twice by the day trendline, and now it has broken the short-term support which has become horizontal resistance. As yesterday's candle is quite weak, I'd like to look for short intraday trade today. It's better if price could test the horizontal resistance before continuing to drop. It...
Day chart : Following last Thursday's large bullish candle, I expect EURAUD will continue to go long in future days. As can be seen, it is now testing the trendline resistance. If it breaks the trendline and last week's high, it is possible to test next resistance level. 4 hour chart : On Monday we had two strong bullish candles completed near to last week's...
Week chart : A strong bullish candle is completed this week testing the trendline resistance. Though there is a up shadow, the large candle still shows a high probability that price will continue going up and test the next resistance. Day chart : Price has broken some horizontal resistances and now they have become supports. If price could stand above these...
This is how I expect on GBPJPY. I will be watching on the price action and try to find entry opportunity when the short-term support is broken.
Price has tested yesterday's low at 2.2544. If price breaks this level after a consolidation, it may continue going down. The first target is previous low around 2.2430. Other GBP and EUR cross pair with AUD and NZD have similar patterns, but it may be hard to find appropriate entries.
Let's see if EURUSD coulf find some resistances above. In short term, we may some horizontal resistances and a downside trendline resistance above. If price could drop quickly to test yesterday's low (blue line) level, it may bring an opportunity to enter short when breakout happens. First target is around previous low 1.0519, and more bearish movement is expected.
GOLD has a traingle pattern to the end, and it is likely that we could see the breakout today. As the main trend is downside, I would like to look for short signal only. If the price could break the green trendline below decisively and test some horizontal supports there, I would like to enter short when it breaks today's low after some consolidations. Though...
As can be seen EURJPY price has been resisted by horizontal resistance and downside trendline. If this candle could give a decisively weak signal but hold around the support zone, I will look for a retracement at short-term and sell at the breakout. Potential target is at today's ADR but may close before target reached if price give reversal pattern. EURCAD has a...
After a week's time we finally have a decisive bearish candle confirming the short bias of GBPUSD. It is a better pattern with a fake upside breakout on the resistance. Currently we can see there is a potential short-term support nearby, so it may be hard to take short entry now or very soon. If price could have a consolidation at this support, we may find a good...
Price has been supported above 2.0325 zone, if price could break today's high, it may be a good chance to enter long when breakout happens. No important resistance above, target is today's ADR. We may choose to close position prior to reaching target if price gives reversal pattern on lower time frame.
GBPNZD pair has a similar pattern as GBPJPY, I've entered long at around 2.3525. Let's see what will happen soon.
GBPJPY has a fake downside movement at the horizontal support zone and upside trendline. Now it is testing yesterday's high, and we hope it can have a consolidation on lower time frame, then we could consider to enter long when breakout happens.
It seems that GBPUSD is resisted at around 1.5250. We could see that there are horizontal resistance and fib 50% resistance both working here. I won't choose to enter short right now as the short-term trend is still up. Let's wait for a very weak candle confirming the short-term short bias, then looking for short entries.
AUDUSD is testing the key resistance zone. We have horizontal resistance, downside trendline resistance,and fib 38.2 resistance all existing here. A strong green candle above this zone may lead to a short-term bullish retracement, but a weak candle below this zone may push the price to continue it's bearish trend. Let's see what will happen very soon.
Past few hours fake bullish movement give me the reason to look for short signal. However the stop loss could be set now is too large and unacceptable for me. Hope the market could have a consolidation and give me a chance to take the entry. Keep watching the price action on M15 chart.