After a move lower on bullish Divergence with RSI the pair has been trading sideways within yesterday's range. A breakout is expected, Is it going to be a bearish trend continuation or will it be a strong retracement higher? What do you think?
A break and close above 141.70 resistance will open the way to resistance 2 @143.00 Bullish as long as price trades above uptrendline and support 140.80
High Probability trade of the day Long EUR/JPY @ 141.40 Target 142.50 Stop Loss: 140.90 Notes: Bullish divergence observed on the 15 min chart Possible inverse Head and Shoulders Formation Price broke above the cloud (Bullish in 15 min)
AUDUSD is testing support from 15 min Ichimoku cloud and yesterdays high at 0.8100. A break above 0.8160 resistance could open the way for further gains targeting 0.82.
AUDUSD has just reached its target, another win in the books!
Long AUDUSD @ 0.8080 Take profit: 0.8140 Stop Loss: 0.8040
AUDCHF lack of bullish momentum (price printing higher highs while RSI printing lower highs) followed by the break of Ichimoku cloud suggest that the pair might be heading to lower levels today. A break above 0.8160 would indicate a continuation to the upside.
Day Trade opportunity Expecting a move higher AUDUSD
AUDCHF might be finally breaking out of this sideways movement to continue higher Favoring a long position with T.P 0.81 and 0.8180
Short NZDCAD Possible Head and Shoulders reversal
A Bullish flag is observed on the AUDCHF (60 min Chart). Not yet confirmed, but looking to buy this pair on a break above the downtrendline marked in the chart. Looks like we are setting up a strong continuation to the upside.
We can observe a series of higher highs with bearish divergence on the 60 min chart. Additional weakness is expected today for this pair with a target of 0.8890 (next support). As long as the downtrend line drown above is intact the target should be easily reached in the next few days.
Possible head and shoulders bottom formation on the 1HR chart. The pair has been retracing from a bullish trend and this is a good opportunity to go long in tandem with the trend. Red arrow shows the bullish divergence between price and rsi (1hr chart) Head and shoulders target 1 comes in at around 101.40 which should provide a good place for take profit. Stop...
Possible head and shoulders bottom formation on the 1HR chart. The pair has been retracing from a bullish trend and this is a good opportunity to go long in tandem with the trend. Red arrow shows the bullish divergence between price and rsi (1hr chart) Head and shoulders target 1 comes in at around 101.40 which should provide a good place for take profit. Stop...