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Kiwi has recently pulled back after breaking to new lows, maintaining the bearish trend of lower highs, lower lows
However, price is not yet overbought, nor has it reached my preferred (As sen on chart) level of resistance.
Once there, I will watch for signs of a reversal...conservative 1st targets at the 38.2% Fib level, with a possible runner looking for the ...
Arrows on the chart highlight former turning points in the market.
After falling into a zone of previous congestion, price looks like it may break out higher.
However, with conditions entering overbought territory on the RSI and a weak reversal pattern on the ADX-DMI, I am looking to sell if the shorting conditions are met.
The current move up looks strong, so ...
Price Action has almost formed a Double Top at the 61.8% Fibonacci level of the Dominant down swing.
RSI is showing divergence
ADX and DMI- beginning to slope upwards and almost above 20
Should a proper test of resistance fail with a bearish candle, a short opportunity will be presented.
Target on chart.
Following a Double Top, price recently broke and closed below the last swing low.
Price has now retraced to test broken support and the 50% Fibonacci level, with bearish candles appearing.
ADX is holding steady above 20, and the RSI is not oversold.
A decent short opportunity has presented itself, with decent RR on offer (1.8R on first target, 3R on 2nd target).
On higher timeframes (weekly/daily) bearishness has begun to creep in with two bearish days to close out the last week
A new trend has formed on the hourly
Looking for bearish continuation, there is previous support which aligns with the 38.2% Fibonacci level
If price retraces (and it looks like it is), then the rectangle highlights the zone of interest to watch ...
A gentle pullback has tested minor support
An inside bar pattern at support appears to have failed to follow through on a break of support
Price is reversing with some strength and will have trapped any bears that went short on the break
Good RR on a long, targeting the most recent highs at
Price has broken out of a multi-month range. After falling for several days, price has retraced and is now retesting a zone of former support.
If classic technical analysis holds true, support should now turn to resistance and price should be hold and then fall from this area.
However, the ADX is looking a little weak and is slopin downwards, so any bearishness ...
This pair has been ranging for weeks now, but recent price action has created a triangle formation with price grinding along resistance.
I expect a bullish breakout, targeting fib extensions 127% and 168.1%.
10, 20 and 50EMAs sloping upwards
ADX sloping upwards and above 20
RSI barely overbought
Price is oversold
Inside bar pattern has formed in a support area.
Looking to go long on the break of the "mother" bar.
Inside bar pattern: Short trigger is on the break of the mother bar lows.
Target is a 1-2-1 completion zone in strong zone of daily tf support and 1.414 and 1.618 Fibonacci confluence.
Classic break and retest of support
No bearish candles as yet, but a clear pause in the market worth watching more closely.
2:1 or better RR shorting oppotunity.
Targetsas seen on chart.
Price has twice tested resistance, but has not fallen far.
With a 3rd test of resistance, I am anticipating a bullish breakout to the upside.
The ADX is skyhigh showing great strength in this pair, and I would not be surprised to see price reach 0.91 and beyond.
The RSI is also not yet overbought, although close.
Price has stalled just above the 38.2% Fib level of the recent upswing, and has posted a bullish daily candle.
This candle is a bullish inside bar, and I will be trading this in a classic fashion: buy the break of the mother bar.
I would look for a retest of the recent highs firstly, with the 127% Fib extension also of interest should price breakout higher.
Price has fallen to the 50% fib of the dominant uptrend.
There is bullish divergence on 4H
Should the 2nd test of the recent low hold (1.6767), I will look to buy the first green candle
Price recently broke below range support but was unable to remain below and has retested the the range highs.
As it pulls back from resistance I am watching for an opportunity to get long.
The highlighted area is an area of support, which may offer a chance to get long before a bullish breakout.
Cable has retested previous resistance and subsequently formed an inside bar.
The aggressive move is to go with the break of the inside bar.
Conservative trade is to go with the break of the "mother" bar.
Targets are the dominant swing high or recent lows.
I am biased to the upside on this pair.
Supporting Criteria on Chart
Price has also reached a previous zone of support, temporarily breaking previous lows.
Intraday I will look for buying opportunities.
Price is testing support for the 3rd time.
RSI is oversold
ADX is starting to turn up
Should support hold it is a triple bottom. I will buy as there is great RR.
1st target: 0.768
2nd target: 0.774