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"USDCAD" by ThinkingAntsOk4H Chart Explanation:
- Price broke the Ascending Trendline.
- Price was on a Bearish Corrective Structure that was broken after bouncing on the Resistance Zone.
- Price should continue its down move from here, with a main target on the Major Support Zone.
- We are looking for sell setups on lower timeframes.
Weekly Vision:
Daily Vision:
Updates coming soon!
4 reasons to short USD/CHF right nowHi traders, here're 4 reasons you should consider taking this very nice setup in USD/CHF. As always, let me know in your comments what you think.
1. Bearish wedge breakout to the downside, projecting a profit target to the lower 0.96xx levels
2. Retracement at the 61.8% Fib level
3. Weak US data lately, CHF possibly gaining from Brexit worries
4. Bearish RSI divergence on the daily chart
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NZDCAD BUY 1ST TARGET 0.65000 -PRICE HELD UP AT MONTHLY SUPPORT LEADING TO SIDEWAYS MOVEMENT
-PRICE FINALLY CLOSES ABOVE EMA CREATING A WEEKLY HAMMER
-LOWER TIMEFRAME INVERSE HEAD AND SHOULDERS
-DXY VERY BEARISH
AUDJPY - LONG - 5TH WAVE + TRIANGLE PATTERNCatching the 5th wave and entry is based on the Triangle Pattern
The break was based on Australian Employment Change (Although it was negative - 14.7k)
Sell EURJPYEUR has rallied much against JPY and now is heading towards a upward sloping trend line which is acting as resistance.
looks good to sell here with TP around 119.8 or lower
The USDJPY is holding at resistance but could spike higherThe USDJPY is holding up at resistance but may be building to extend the move to higher levels around 110.570. We are watching for a reaction lower off 108.890 as buyers get squeezed out but are also open to the idea that price could easily extend through the level. Any short setup will need confirmation from a shoulder setup (lower high)....see how this plays out.
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AUDUSD employment data out may trigger volatilityThe AUDUSD trade action is set to heat up as employment data is due out at 11:30am AEDT. If the numbers come out stronger than expected, buyers will dive into the action to lift price and squeeze out recent shorts. If numbers are weaker then expect further pressure lower from sellers. Either way expect some chop both up and down as the big boys reset the market.
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