In my analysis I would now short NZDCHF down to the support zone. If however it breaks resistance with a retest, buy for a potential short at the next resistance level.
Short order placed for me!
The chart shows a retest of the previous low. So technically we are still downtrending, or trending sideways on the larger timeframes.
I'm expecting this to come back and test my support area.
The Euro has been declining since 2nd Feb '23, and is approaching support, where it previous bounced on the 23rd Jan '23. You could place a buy order into the support zone with a tight stop loss should it break support.
The two lower boxes are your support areas to buy GBP.
The two upper boxes are your resistance zones for taking profit on the 4h.
However we have clearly broken out of our support zone, so you can trade this all the way up to resistance should we make higher highs on the lower timeframe 1h.
OANDA:GBPJPY
CAD has almost hit strong resistance against JPY. I've drawn a strong resistance zone and two supportive areas. Let's see if this plays out.
1 upper resistance zone
2 lower supportive zones
Good luck!
IMO the USD is about to roll over against JPY and continue the downtrend. IF the the bounce continues UP, I've drawn a new resistance line TO SHORT.
2 upper resistance zones
2 lower support zones
Good Luck.
THE Euro has been trending UP against the Canadian Dollar for sometime, and will soon hit its resistance level. From here I'm expecting the market to reverse and continue down trending, as the bigger picture timeframe suggests. Soon the Euro will be ready to short at around 1.445.
GOOD LUCK!
OANDA:EURCAD
