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Fibonocci

Update: EUR/GBP - Crashing Channels *Yellow = 200 EMA | Blue = 100 EMA The first update for OANDA:EURGBP . After a successful analysis posted at the beginning of August, the analysis outlined resistance at 0.93332 and price found resistance at 0.93244, along with that, channel 1 and channel 2 were successful supports, but the initial analysis suggested that around 0.905 level there would be a retracement, and it instead acted as a buffer. Price consolidated for a couple of days before breaking channel 2 on the way down. Price is currently in a retracement after finding support on the 200 EMA after breaking a 45º trendline. What to look for in the next 2 weeks?: a) Look for resistance around the 0.905 level which has acted as strong resistance in the past specifically between late August 2018, to mid-January 2019. b) Support for this downtrend could be around 0.870 level which has been used as support and resistance from late September 2017, all the way to mid-April 2019. c) Once price moves out of its retracement phase look for a resumption of a 45º trendline - which is a healthy pace and could mean a break of support. Hopefully, this update was helpful to everyone reading and brings insight into their trading. Good luck traders!
Short
by olympus_trading
AUDUSD - Continued bullishness on the hourly time framesAlthough today's price action didn't produce the convincingly bullish strength I was hoping we would see, it is still hanging on there. While on the daily charts there is a bearish pinbar, it has a few things going against it. For one it formed above a support line, which is hardly a bearish sign (and in some cases can actually be bullish). Also you don't get the entire picture until you go to the smaller time frame charts. In the 2 hour charts you can see that there was actually a nice quality bullish pin bar that has some good things going for it: it is decently sized, it formed on very large volume, and it formed off of the important 0.382 and 0.5 fibo retracement levels as well as the very important 0.7500 critical price level. I'm certainly not ready to stick a fork in this trade but will be prudently watching and managing my position.
Long
by krugman87