Playing off this key level, I take a bullish stance on EURGBP.
After breaking out from the daily support, this pair failed to retrace back selling pressure continues to remain dominant
What concerned me earlier last week was the that price held resisted along the daily level indicated. However, now we have a seen a clear breakout.
NZDCAD has been a key pair of mine to monitor. Earlier today, I was able to enter at an intra-day low. This level seems to be holding up strong for another further bullish momentum.
This has bee a key pair to watch for me for the past few weeks. Unfortunately, I did not enter long once again at the beginning of this week. I only rode the wave up to market close of last week. As this pair currently tests another daily level, it could provide another opportunity to enter long once again.
If Tradingview's measurement tool is right, the upside to this trade is up to 270 pips until the next level.
Having already completed a first round of accumulation and continuation, we expect for the months of March and even April, we could see this pair take another breather as it retraces.
This pair is currently on my watchlist as we are currently awaiting to see how it plays out on this daily level.
Price holding supported at the daily level and testing the breakout above the hourly highs.
This has been my key pair to watch this year. Failing to close lower in early 2018, I expect to see the accumulation of long positions over time. Pending orders placed for market open for another swing high.
As annotated, I am playing off the fact that the daily resistance level is still holding up. Although expected to be weaker, it remains sensitive to sellers readily continuing selling as price enters that zone.
This pair paused for a few days, but further selling is expected to resume as selling pressure has prevented this pair from trading higher especially after the heavy selling last week and earlier this week. Further downside is to be expected for this pair.
Despite the weaker yen against a basket of currencies including the euro, Australia dollar, and U.S. dollar, GBPJPY remains on the bearish side demonstrating that the pound is indeed fundamentally weaker than the yen due to continued Brexit and inflationary risks. After a break-out of the daily wedge, bullish pressures were quickly subdued and we should begin to...
Bearish bar managed to close above daily resistance turned support level If it sustains on market open, looking to go long until next daily level
Retracement ended on this uptrend Current daily bar breaks above the two previous weak bullish bars Longer wick tails have held up on the support line
USDJPY broke below a key daily level and remains tested as the longer upper wick indicates a retracement back to that daily level. Following disappointing CPI figures provides an indication that the labor market continues to tighten. On a technical stand point, this pair demonstrates a further bearish momentum provided that the retracement to the daily level...
Buying pressure for past two days not holding up. This pair has fallen back below the daily range and makes no indication of breaking out above. We are getting prepared for another wave of selling pressure.
EURGBP breaks through the top of the previous candles. This pair has stalled for the past two days and we, once again, see a new clear strong trend direction.