Although in a bearish downtrend, the AUD/CAD will be touching a support zone that has been tested and rejected almost 6 times since July 2020 and bounced back up! If this major support is broken, the down trend will continue, but if its rejected by the support line, there will be a bullish reversal.
Hey Guys
Although the EURUSD has a strong bullish run in the past the is a correction happening on the pair. I is not stuck between 2 important support and resistance zone. If it breaks the resistance zone, it is most likely that it will be a bullish run, but if it breaks the support, it is most likely to create a bearish run.
Enjoy!
By using weekly supports, Fibonacci, and a major downtrend, I concluded a small analysis of this trend. I put 3 price targets for sell opportunities during the retracements.
Enjoy!
edit: My target prices might be a little too optimistic :')
edit 2: There seems to be a resistance zone at 1.26000-1.26075, its has been tested multiple times (on the 1h chart) nut...
This is a simple analysis on this bearish head and shoulders pattern combined with Fibonacci retracement and support lines. I used the peak of the head and a resistance line for my Fibonacci retracement.
Enjoy!
Please let me know if ever I can use more tools and indicators to further my analysis, I am still new!
Thanks
