At the moment the price is trading around our major support/resistance line 4/8 and before a break to the upside, a retracement is essential. GBPJPY
A test of 4/8 level has been tested, this could be an indication that we are headed to dust.
At the moment i see non other than a bullish sign, only sell at 8/8 level.
GBPUSD just broke the level of 4/8 and before it continues to the upside, a retracement is essential then resumes to the upside.
USD/JPY Breakout to Two-Month Highs We came into this week looking for a topside breakout in USD/JPY, and so far that’s taken place as the pair is now trading at fresh two-month highs. Last week saw Japanese inflation settle after two really strong months created the possibility of the Bank of Japan finding themselves in an ECB-like scenario later this year. But...
EURUSD Four Hour Chart: Testing Trendline support at Aprils Lows. EUR/USD is testing the first area of support that we were looking for on Friday, and this comes-in at a confluent area taken from the mid-March and early-April swing-lows, which also happens to come-in around a trend-line projection taken from the March and April lows. A bit deeper we have another...
On the 3 day fibonnacci, the price failed to break below the fib zone, this gives further momentum to the upside, though a retrace to the 0.786 level is essential.
On the 4hr the price broke below the Fib zone which indicates a further continuation to the down side, but a bit of retrace is essential.
NZDUSD A harmonic pattern is complete, You can wait for the one hour candle to close to validate a bearish momentum.
A possible buy opportunity, buy the break of resistance.
A possible retest to previous resistance is possible then that is when selling pressure will kick in. On the 1hour & 15minutes charts there is divergence in price and RSI to the upside.
A possible selling opportunity after a retest of previous support.
A retest of a broken resistance is complete, a possible upside potential.
The past 48 hours has produced yet another retest of both resistance and support. Now is the best time to enter into a sell position.