EUR/AUD: Short Setup in the makingEUR/AUD: Short Setup in the making
> EUR/AUD shows a structureal break: lower high with lower low after upward move
> short-term trendchannel is broken as well
> POC printed above current price levels, wich indicates heavy bank selling
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Swingsetup
MarketBreakdown | EURJPY, EURCHF, GBPCAD, GBPCHF
Hey traders,
here is a brief technical outlook of 4 peculiar instruments on my watch list.
1️⃣ EURJPY - Daily time frame 🇪🇺 🇯🇵
I see the signs of a bullish accumulation:
the price has already set two equal highs and keeps setting higher lows.
I believe that we will see a breakout attempt of a current horizontal resistance.
Daily candle close above that will trigger a bullish trend continuation to new highs.
2️⃣ EURCHF - 3 days time frame 🇪🇺🇨🇭
The pair is approaching a solid horizontal zone of demand.
Be prepared for a breakout attempt.
Its bearish breakout will trigger a bearish continuation to a year's low.
3️⃣ GBPCAD - Daily time frame 🇬🇧🇨🇦
As I predicted, GBPCAD dropped nicely.
The pair formed a double top formation with a lower high.
Its neckline violation signifies a highly probable further decline.
4️⃣ GBPCHF - Monthly time frame 🇬🇧🇨🇭
The pair is currently approaching a wide weekly demand cluster.
Taking into consideration that the market is very oversold, I believe that we will see a pullback from that structure soon.
Look for a confirmation on lower time frames to buy.
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WSI Watchlist - NZD/USD: Long after breakoutNZD/USD: Long after breakout
> Structure: Symmetrical triangle
> Lower highs and lower lows
> we need a break of the last lower high on a H4 basis to create a strong long bias
> POC below current levels
Wait for a clear close of a H4 candle above the last lower high.
Meikel & Team WSI
AUD/NZD: High-Vol Trendchannel breakAUD/NZD: High-Vol Trendchannel break
> month-long trendchannel broken to the downside
> Double top formation with first lower high inside of broken channel
> POC above current PX
> countertrend broken
> weekly high 2x rejected
> daily lows about to break
> little volume on way to tp
EURUSD: 2 Structure to Watch Next Week 🇪🇺🇺🇸
Hey traders,
Even though this week was quite bullish for EURUSD,
remember that the market is trading in a bearish trend and we remain bearish biased.
Next week, I will be looking for shorting opportunities from 2 very important areas:
Resistance 1: 1.062 - 1.0655
Resistance 2: 1.074 - 1.079
I will expect a bearish move from one of these zones.
Let the price reach them and then look for a confirmation to sell.
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EUR/AUD: Watchlist Long Trade for next weekEUR/AUD: Watchlist Long Trade for next week
> High Volume POC below current levels
> 3 touch inner upward trend
> inverse Shoulder-Head-Shoulder
> Need a break of the last falling high + 2 touch inner downward trend break
We are looking for a break of structure + change in sequence. This will be achieved once the last lower high is broken to the upside.
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DAX Index: Be Prepared For a Breakout Trade
What a bearish rally on Dax Index:
for the 4 consecutive days, the market is falling sharply.
Ahead is key horizontal support.
I will be waiting for its bearish breakout to short the index.
Next support will be 12550.
Remember that you need a daily candle close below a blue support to confirm a breakout.
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EURCAD: Important Decision Ahead! Your Plan: 🇪🇺🇨🇦
EURCAD is trading in a long-term bearish trend.
The pair started to consolidate within a horizontal trading range on a daily from the beginning of April.
Now the price is approaching its support.
From a current perspective, I see two potential scenarios:
If the price breaks and closes below the support of the range on a daily,
then a bearish trend continuation will be expected to 1.325
The price may respect the underlined structure.
To catch a pullback from that, watch a falling trend line on a 4H time frame.
If the price breaks that to the upside, I will expect a bullish move at least to 1.35
Wait for a breakout and then follow the market.
What do you expect?
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AUD/USD likely to fall!Hey tradomaniacs,
recent news have caused a huge stop-hunt at the topside of the range which is a strong indication of a move down.
If the current breakout continues and we see more momentum we can expect price to re-test the market-up support-zones.
Be cautious as we are going to see NFPs tomorrow, means price can stay choppy until then.
What do you think?
CADJPY: Classic Trend-Following Setup 🇨🇦🇯🇵
Hey traders,
CADJPY is trading in a long-term bullish trend.
Reaching a new high the market started a correctional movement.
For more than a month, the pair was steadily falling within a bullish flag pattern.
Yesterday, its resistance was finally broken.
I believe that such a breakout may initiate a bullish trend continuation.
Goals: 102.7 / 104.5
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AUD/CAD: High volume breakout (Long)AUD/CAD: High volume breakout (Long)
- break of bearish pullback
- POC below current price
- higher-low-higher-high WSI sequence
- Low volume Node ahead
- Little volume to TP area
Wall Street Bank buying seen.
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GBPCHF: Very Bearish Outlook 🇬🇧🇨🇭
Have you seen that bearish breakout on GBPCHF.
The price broke and closed below a major daily demand area.
I assume that quite soon the pair will drop lower.
Next goal for sellers - 1.1925
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EUR/CAD: Structural H-Volume BreakoutEUR/CAD: Structural High Volume Breakout
- breaks bearish structure valid for several months
- High volume POC below current Price
- higher high and 2x trendline break
- very little volume ahead indicates room for run-up
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GBP/CAD: Wall Street Long SetupGBP/CAD: Wall Street Long Setup
- Higher High outside of bearish structure
- Heavy Bank Buying seen
- Point of Control below
- Upward trend etsbablished
CAD-weakness is an overall theme at the moment and likely to continue. H4 Swingsetup should play out over the next 1-3 days.