EURUSDEURUSD reversed from a daily broken structure and it's making lower highs and lower lows.
Price is moving within a 4hour bearish correction and it has the potential to continue moving lower.
Bearishcorrection
AUDUSD - H1: KEY LEVELS & BEARISH CORRECTION
Price has been rejected at resistance key levels for couple of times now.
Breakout of Bearish Correction trend line will move price (much) lower.
Lets not forget that the pair is very bearish due to massive Head & Shoulder Pattern on weekly chart.
USDCHF SHORT POTENTIALPrice formed a rising wedge,broke out of ascending trendline and is currently retesting broken level.
Price is forming a bearish corrective structure and has potential to reverse and continue downward move.
Will be looking for short set ups on lower time frame.
Testing Support for Bulls on $BTC Daily ChartSupport at the 61.8% level from the latest low and high is being tested as support. Daily momentum is posting weak signals and likely not enough to push price through the golden ratio.
The ADX is still in a trend strength zone, and the directional index lines are flattening out. This looks lie a picture of a correction against a new near-term bullish move.
The RSI is holding support inside its bullish zone at the same time price is trying to hold the floor along the 61.8% level.
If this level holds as support I can see a 5-wave scenario to lift the price to the 61.8% Fibo level in the coming weeks.
Wave 2 can retrace all the way back to the beginning of wave 1 and still be legit. My sell stops would be a new low under $3215.20. For now the floor holds and higher prices ahead in the coming weeks.
Bullish divergence in Crude Oil (WTI) H4 opening for correction Bullish divergence in Crude Oil (WTI) H4 opening for correction
Bullish divergence in Crude Oil (WTI) H4 opening for correction back towards 35$ (round number),
34,80$ supportline and 34$ (0.38 Fib support).
This scenario might play out, if the ECB rate decision, today 13:45 CET, disappoints markets, e.g. postponing further ratecuts and
QE measures to the next meeting and thus drives the Euro up against the US$ (EURUSD), sending
markets down, which are hanging on the cliff already.
The timeframe might be slightly different from the visualised one.
So please take this as an inspiration to make your own analysis and work out your own trading plan.
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