AUS200 is under pressure to the downside after failing to establish its upside momentum. The price also broke channel and trend line support indicating its strong bearish momentum. The price also failed to stay above moving averages, and seasonally, September is known as a bad month for the stock market as well. I set my sell stop below the swing slow to catch...
Crude oil is expected to retest major support from last year at the 67 zone and possibly bounce as September is known as a positive seasonality for OIl trading. And if the consolidating phase continues, I expect oil to retest major resistance again on the 82 zone.
Kiwi has struggled to maintain its upside momentum against the Swiss Franc, and the price finally made a new low below the bear flag pattern. Breaking out of the bear flag indicates the continuing downward trend occurring on NZDCHF.
AUD looks so weak compared to other currencies such as the Swiss franc. After the V bottom pattern fails, major support on the 0.56701 horizontal line also breaks. It seems that the buyers have lost control and succumbed to the sellers.
A bull flag breaks out on GBPUSD that indicates the bulls are still in control and it seems that the price is trying to retest a new high for 2024.
AUDNZD broke its daily trend line support, and the price kept hanging below the moving average, indicating weakness in AUD vs Kiwi. If the daily candle closes red below the trend line, I would like to short AUDNZD with appropriate risk and rewards.
After triggering a false channel breakout, AUD has fallen significantly to continue its upward momentum and broke major support at 97.807, which indicates strong bearish momentum against the Japanese yen.
My overall bias on AUD in the long term is still bullish, but I expect some big retracement on this pair. AUD has struggled to break out as the price has lost momentum on major resistance at the 0.6800 area. I wait for a break of the support level, and the price is below 20 and 50 ema to enter the sell trade Trade safe and manage your risk guys!!!
Break down on the bear flag on EURJPY, which means continuing the bearish trend with the price below the moving average, indicates the sellers are in control of this pair. On the other hand, the EURO shows weakness against other currencies, and the euro is likely to fall before the German Prelim CPI on Thursday.
Short on EURCHF as the euro shows weakness to other currencies as well. Instead of establishing a solid V-bottom pattern, the euro keeps breaking down support level and staying below the moving averages.
EUR broke down the trendline support against the Yen, and the price below the moving average with a lower low and lower high could be a sign of weakness in the euro.
Potential ABC Correction with bearish divergence on 8 H on GBPCAD after break of trend line that indicates trend reversal to the downside as the next support as the profit target for the short trade
prefer to take a long trade on NZDUSD after the price breaks out the resistance line on 5-wave uptrends. December, In terms of seasonality, is bearish on the dollar with DXY showing weakness on the technical level.
After a significant weakness in the yen in 2023. now, the yen has shown some strength at the end of 2023. It might indicate the trend reversal is coming for the yen, at least for the medium term in 2024 I plan to sell CADJPY after the break out of major support with a lower high and lower low price action. and the price is below its moving average which shows...
ABC correction on GBPJPY, wait for a set-up to short at the resistance line with the rejection candle on 4H as confirmation. Moving averages are sloping down, showing a downtrend direction on this pair.
Sell trade on USDCHF on a bearish trend with the Moving average sloping down indicating the bearish direction on USD. I prefer to wait for a rejection candle on the resistance area to enter the short trade.
Range bound trading on EURCAD on the daily timeframe. with a short target on previous major support as target price