Supporting bearish confluences: 1. Trendline break + Moving Average 2. Recent Double top formation on Monthly Zone 3. Moving Averages indicating bearish momentum 4. Descending channel completion
Below are the supporting factors for the bullish sentiment: 1. Price action at Monthly Support Zone 2. Bullish Kangaroo Tail 3. Morning Star formation 4. Channel test
This pair has the following bearish confluences: 1. Evening star + Kangaroo tail (Doji) formation on D1 support zone 2. Clear retest of recently broken Minor Zone + Trendline break 3. Price action likely to form a new lower low
The chart indicates the below bullish confluences: 1. Morning Star Printed on a 4H resistance 2. Recent Price Action has broken several trendlines and may be heading to retest the brokentrendlines
-Market currently forming a new lower low on the h chart -Hence, signalling a short term reversal -PA likely to reach for the 1 Week 61.8 Fib level
-Price Action is respecting the Counter Trend Line -It is going short term bullish whileit gathers bullish momentum
Kangaroo tail printed Price action is respecting the trend line
Trend line confluence signalling a short term upside retracement More confluence is shown by the Fibonacci, next target is the 61.8 level of the previously completed Fib retracement
-Doji cross printed on the daily timeframe, portraying a strong potential reversal to the upside -Further confluence is given by the weekly trend line, signalling a bounce to the upside -
- Price action reently broke the monthly resistance and forming new multi-year highs -It is predicted to retest and find support on the monthly zone - Further confluence is provided by the 0.618 Fibonacci level
-Price Action retesting on a Monthly resistance -GBPUSD retesting from a multi-year high -Movement more likely to reach for support from the previously broken weekly trendline
-Price action likely to find support on the broken monthly resistance -61.8 % Fib level is providing further confluence -Lower high was previously formed and price action is likely to form a new lower high and low