The price has reached the bottom of the hypothetical channel and has been accompanied by divergence. This means that prices probably do not go below the channel floor.
According to Fibo ratios and classic technical patterns, the specified price target can be considered in the trade and the stop can be placed at the specified point.
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The price reacted to the top of the channel and reacted to it with the hidden divergence on the MACD
The channel seems to be credible and for Reward to Risk more than 3 it looks like a great position for the next two months.
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The pair is fluctuating in a neutral range in weekly timeframe
At a shorter time frame it is descending into an ending channel that has reached the bottom of the long neutral channel.
It seems that it can be a good range to buy according to RSI and MACD indicators.
Fundamentally, the euro seems to have weakened enough against the pound over the past year, and...
I sold the GBPUSD and the price is inside a channel, which has reached the ceiling of this channel.
In the last step, which has gone to the ceiling of the channel, it has formed an ending.And there is a hidden divergence in daily timeframes in MACD
**** This means that the sellers are weak ****
In case of break out from the marked range(blue lines), it can fall to the range of 1.12 and finally to 1.10.
Fundamentally December Inflation and Mr. Powell's Testimony can push prices to targets.
I think because of the Chinese New Year holidays, Australia's trade, especially iron ore, will decline, and that will affect the Australian dollar.
The US dollar has a strong foundation against the AUD, and due to the completion of taparing and rising interest rates in March, it can reduce the pair to marked levels in chart.
I think Nasdaq is in a downtrend and is fluctuating close to its downtrend line. In addition, at the end of the correction, there is a divergence in the MACD, which indicates the weakness of the buyer.
***** Please see my previous analysis and comment ****
In the last step, a hidden divergence is seen, which is a sign that the correction in the downtrend is over.
I think we should think about selling this index. At the end of the correction, it intersects with the trend line and Fibonacci
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Technical : AUDCAD is in a reverse head-to-shoulder pattern, and once completed the pattern can grow as far as the distance from the head to the neckline.
Fundamental : I think because of the low interest rates in China as well as the good data in Australia we can hope for the growth of the Australian dollar.
Also, oil is likely to hit a price peak and a drop...
In the previous chart, I thought the correction was over, but it had another top. In the new chart I have drawn a channel that shows a price correction. Also, the foundation of this currency pair has not changed.
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