The euro uptrend has come to an end. The pair broke down through the uptrend trendline; signal a new trend formed - a down trend.
We expect to see the pair go further down until to find a first level of support around @ 1.1620 (previous swing low).
Short position recommended.
The pair make a retest on previous support turned resistance at 0.9500 and then fall for another 50 pips to 0.9450
Thats was a 50 pips gain !
Not bad for intraday trade on H1 TF.
Yeah !
AUDNZD retesting the previous resistance zone for the third time @ 1.0850.
Interestingly, it also come into the confluence of the downtrend trend line which also act as resistance.
Not the perfect setup but this trade is looking at al upside limited downside potential with a higher RR ratio.
A sell limit position recommended at 1.0850.
Three ways of exiting...
The past week has been rather a boring pair to look at for breakout traders.
The pair has been typically on ranging for the past one week (29 sept till 6 oct) until today where it finally break on the lower ranging 0.9500.
In simple words, we trade the breakout and anticipating the pair will go down. Short position bias.
Conservatively, chasing over the market...
The pair failed to create a higher high
- an uptrend has come to an end
Simply, end of an uptrend is the starting of an downtrend .
Should be best entry price would be around 1.3323 where the price retested EMA 20 and failed.
Yet we are still not too late to go short on pair - we are 50 pips late.
Expected take profit level would be previous latest support...
A few critical support demand levels to look at for NZDCAD
- 0.8200 - a crucial support level. Prices bounce of thrice on Sept 2018; Sept 2019. A sharp breakthrough during March this year, but quickly reversed back above the support.
- - an important supply demand level. This zone has been a resistance turns support role interchanging.
Fore-seen the pair will...
In refer to last week analysis on EURUSD (23 Sept post); the Euro Dollar trend has been in the bearish bias. Yet, those who are looking on a more conservative entry would be advised to wait for a retest on a EMA 20.
As of now the Euro is at a good price for entry where;
- Price retested on the EMA 20 AND not able to close above it
- A confluence of Fibo level at...
A little thought on minor - Kiwi Swissy
The pair has now seen to be recovering from the massive sell-off from the March panic sell off with RISK OFF mode ongoing thus the rush for demand for safe-heaven Franc.
The pair had now seen been trading in a low volatility consolidating pattern - indicating a breakout might be imminent; and expected the trend will last...
This trading setup most probably is the no-brainer setups and requires not much complicated settings. Yeah !
No sideway lasts forever, and seems like the Dollar Loonie has a move.
Breakout = Chances to BUY
BUT WAIT if you are a breakout trader;
Even you are trading breakout; you don't really trade the "breakout" - the price had gone too far, too...
Simplicity is always the best policy.
Earlier this week the Dollar Yen Pair has been bounce off the previous support level @ 104.34.
The pair has come to a point of challenging the first resistance - the 20 EMA AND also at a mini resistant level at 105.40
Also we can note the RSI was at the level of > 90 (indicating a potential oversold condition)
If the pair...
EUR probably is the most interesting pair to look at in this upcoming near term.
The EUR has been steadily going up trend to the sky.
Seems like this pair is following the Elliot Wave @ Wave#1 Wave #2 and Wave #3
General speaking the EURUSD has been on a sideway trend since early August and a sideway trend will eventually ends and a trending move will...
GBP has been an interesting pair to look at.
We can see over the past 12 months that the Pound has been on the sideway trend with no clear directional bias with the technical exception on march when the US announces the unlimited QE and the up spike on the global demand of Dollar as the impeding global economical crisis and the outbreak of the CoVID...
Sequelae from the EURCAD Daily TF uptrend analysis (on 14 Aug 2020)
This is a much more details analysis on the H4 time frame for a swing trade.
Potential TP/SL level already illustrated on the chart.
Recommended to move stops to BE or trail the stops.
Technically EURCAD has a bias to go long.
This pair has been holding the support level @ 1.5100 quite consistently. Daily candles although did traded below this support level but was unable to close beyond it.
For the past 2 weeks this pair has been in a downtrend but in terms of higher TF analysis it is much more likely to be a retracement/ market...
for the past week 24 Aug to 28 Aug we can see this pair was trading in the range of 1.1778 to 1.1.1848 (80 pips range)
on 28 Aug London session the pair finally broke through the upper range of 1.1848 and continue its uptrend formation
eurusd is now challenging the resistance zone @ 1.1946
the pair is forecasted to continue up higher if it successfully break its...
