Price touched a descending triangle on daily chart & broke out of the ascending trendline on 4H Chart, price is currently at minor resistance zone.
Double top pattern, Ascending trendline break, Elliot triangle wave.
There's a good chance of second Coronavirus wave & this one could be even more deadly, people have started to get out of their homes, countries are opening up, Autumn/Winter is coming, the flu season. 1918 flu lasted three years, what makes you think CVOID will end in just 7-8 months?
i've opened long positions on CHFJPY, EURJPY & EURCHF, i'm looking to gain upto 1000 pips combined.
Uptrend will likely continue, just a consolidation period & it has ended.
EUR pairs might have completed their consolidation as we have very high probability setups on EURJPY, CHFJPY & EURCHF. Trendline broken - Retested - 4 hour bullish candlestick - renewed EUR strength.
CHFJPY will begin it's long term uptrend as it has broken out of two long term descending trendlines and retested + pair has formed a bullish engulfer on 4-hour timeframe.
Don't get too excited, this is just a consolidation phase, i've done my homework and the market will fall to June 2013 lows.
The price had broken and retested a strong trendline, If price respects the current market structure ( & If we dont have an economic fallout) we're looking for dollar to fall back at 108.000 by early 2022.
Price is hovering around 200-SMA moving average and is near key supply zone.
Overall USD power is pretty impressive right now, as investors are shifting to safe haven U.S dollar, yen will see it's fate too. Target is 112.000
Price is beginning to pull back after it touched the trendline on weekly timeframe, expect bearish movement
the price broke, retested the trendline, expect it to move downwards.
The pair broke a minor activity area & is currently moving downwards, expect it continue that.