We have a break above the previous daily high, so now we're looking at a retrace to the breaker and a long towards the middle of the range outlined on the weekly chart below: Very simple concepts with 3 R/R.
As we can see from the graph, OANDA:AUDCAD is on the downtrend channel . We can take an advantage! Sell pending order at 0.95177 SL: 0.96008 TP: 0.93419 This analysis is provided as general market commentary and does not constitute investment advice.
The US Dollar Index for last week has break down below 12200 levels and came back up again during the season of US Midterm Elections and Federal Reserve’s monetary policy announcement. To no one’s surprise, further gradual increases of interest rates is to be seen in December. The long-term still remains as unchanged constructive for bull, till price stay below...
Counter trend pullback into weekly resistance level turned new support @ weekly trendline break zone. Australian dollar is bullish bias after breaking weekly trendline. Daily Chart Short term swing back into support levels, then expecting Aussie to continue its new bullish trend. -Solid black lines are weekly levels support/resistance (major) -Dotted black lines...
AUDCAD looks to have found resistance and momentum is weakening. Look for a corrective short trade towards the trendline, and then a possible break for 2nd entry. TP 1: 0.95170 TP 2: 0.94750 SL: 0.95690
The hourly chart presented here is indicating that Dow Jones could be into wave C rally of the projected A-B-C corrective rally that began from 24100 levels, on October 29, 2018. Believe it or not, the corrective rally has unfolded and is progressing pretty as projected earlier and resistance might be strong around the 25800/26000 levels going forward. It would be...
AUDCAD is testing its resistance at 0.9519 (61.8% Fibonacci extension, 38.2% & 50% Fibonacci retracement, horizontal swing high resistance) where it could potentially reverse down to its support at 0.9371 (38.2% Fibonacci retracement, horizontal pullback support). Stochastic (89, 5, 3) is testing its resistance at 96% and there may be bearish divergence with...
AUDCAD is approaching our first resistance at 0.9518 (Horizontal swing high resistance, 38.2%, 50% Fibonacci retracement, 100% fibonacci extension, descending channel resistance) and a strong drop might occur pushing price down to our major support at 0.9346 (horizontal pullback support, 50% fibonacci retracement). Stochastic (55,5,3) is also approaching...
Acad and Achf are at the 1.236 extensions along with pitchforks. If Acad gives small rejection and breaks out, you see the next level at the 1.618 fib extension. Is in uptrend, but can correct and there will be another large sell coming on this pair, I think it is only correcting, but can't say exactly when that will happen, would want it to look more corrective...
EURJPY reversed off its resistance at 129.35 (100% Fibonacci extension x3, 76.4% Fibonacci retracement, horizontal swing high resistance) where it could potentially drop further to its support at 128.50 (50% Fibonacci retracement, horizontal overlap support). Stochastic (55, 5, 3) reversed off its resistance at 94% where a corresponding drop could occur.
AUDCAD is approaching our first resistance at 0.9484 (Horizontal swing high resistance, 100% fibonacci extension) and a strong drop might occur pushing price down to our major support at 0.9367 (horizontal pullback support, 38.2% Fibonacci retracement, 61.8% Fibonacci extension). Stochastic (89,5,3) is approaching resistance and we might see a corresponding drop...
The US Dollar Index unable to reach its mark at 12330 levels before strong bear kicks in breaking down strongly through 12260 and found some support at 12200. The long-term still remains as unchanged constructive for bull, till price break below 12200 to 12100 levels going forward. Looking into medium-term still remains unchanged, where the US Dollar Index could...
B point is a little bit high (.676 instead of 0.618) so proceed with caution and check PA behavior on the PRZ. Lots of SL levels to choose from, once D is totally defined. Numbers looks like: Entry: 0.94084 SL: 0.9450 (aggressive.... .9485 / 0.95 conservative) TP1: 0.93363 (.236 1.61RR) TP2: 0.92921 (.382 2.64RR) TP3: 0.92564 (.500 3.44RR)
AUDCAD is approaching our first support at 0.9368 (horizontal pullback support, 23.6% Fibonacci retracement, 61.8% Fibonacci extension) where a strong bounce might occur pushing price up to our major resistance at 0.9484 (horizontal swing high resistance, 100% Fibonacci extension). RSI (34) is also seeing a bullish exit and we might see a corresponding rise in...
NZDJPY bounced perfectly from its support at 73.56 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap support) where it could potentially rise to its resistance at 74.23 (horizontal swing high resistance). Stochastic (55, 5, 3) bounced off its support at 3.9%.
SX5E bounced off its support at 3088 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support) where it could bounce up to its resistance at 3267 (50% Fibonacci retracement, horizontal overlap resistance). Stochastic (55, 5, 3) bounced off near its support at 2%.
USDJPY is testing its resistance at 112.64 (100% Fibonacci extension, 38.2% & 78.6% Fibonacci retracement, horizontal swing high resistance) where if broken, could rise to its next resistance at 112.90 (61.8% extension, horizontal swing high resistance) RSI (55) has broken out of its descending resistance line.
The US Dollar Index moving back into previous uptrend channel breaking up above 12260 level and has pull back to retest it again. The long-term still remains as unchanged constructive for bull, till price break below 12200 to 12100 levels going forward. Looking into medium-term channel, the US Dollar Index could continue its way towards 12330 levels progresses....