EURGBP - Nice Long OpportunityThe chart on the right is showing the whole setup of this move with a retracement trendline that has now given way to the upside.
- On the chart on the left, the lower time frame, we can see that price has broken this trendline, come back to retest it with a 61.8 retracement of the initial breakout thrust with long wicks indicating buyers were protecting the 0.84 key level.
- The second trendline has now given way and this may be an excellent opportunity to get long.
Trendline-break
Long term correction after halving?It seems that the price hit the optimal level to begin sell off.
The buying back phase will start at 460 level, to form accumulation range between 480 and 510.
In my opinion we will have lot of selling just before BTC halving and than, after it the price will bounce to the 680 area again.
As usually, we will see the triangle forming. However I don't think that we will have next bull run. The price might even break resistance line for short time, to trap breakout buyers. The supply - demand ratio need to stabilize and this time, the bears will push price lower.
That's why more probable scenario for me is breaking current trend line and support testing at 450 level.
USDCAD bull run finally over?!With USDCAD breaking a daily trendline developed since May 2015 on the daily timeframe, the pair might be finally heading back down. With prices currently under the 100 MA and below the trendline, i would personally stay away from the pair until it goes back up past 1.36563, or until it breaks 1.34439 to head for lower lows.
USDCAD to the next trendlineHi all,
The USDCAD broke the red trendline earlier this week.
I expect a retracement to this trendline, and then a drop from there. Most likely downwards to the blue trendline, which should be a pretty solid entry.
I have marked the price reversal zone, which has the 61.8 fib, previous resistance and trendline.
Best of luck!
Regards
EURAUD nearing a MAJOR trendlineEURAUD has been bullish since the beginning of December 2015.As bulls have exhausted themselves a little, it gave the bears the opportunity to change the game. A break below 1.53 levels could bring EURAUD into a bearish movement. However a stop at that region may bring the pair back up even higher. Either way, this is a spot to keep on the lookout for.
TL Break w/ Vol. ExhaustionSee notes on chart.
3 week price change is 1.89%
PA could not form new highs all of AUG and PA is seeming to form a rounded top.
Price broke through support and and the trendline, but was pushed up by buyers today. wait on confirmation.
Buying DEC 130 Puts I think this gap will be filled before the end of the year.