GU might actually be going long...it seems to have created a corrective structure that is "not so corrective" really....it seems it has trapped sellers! (since everybody is going short on the pair) i'm seeing it respecting the 61.8 fib level as well...and might go back to last year highs//
Also keeping in mind how well the pound has been performing over the...
BTCUSD is currently trading in a Bear Market overall . Not only that, it has broken the Trendline support, and is consolidating, forecasting a push to 5000 USD for stability. If we still have some bull power, anticipating a double top before melting. Also investors, are looking for safe haven markets, probably avoiding cryptos.
AUDJPY has recently bounced off of a weekly trendline....and has since moved up impulsively! The pair is forming some sort of a bull flag currently...and will possibly see a move higher...
The European pairs have closed back below the Weekly/Monthly Support....And a Head & Shoulder pattern is seen to form at this support (strong confluence!!) on the Daily chart. We can expect price to meltdown to the Weekly ascending trendline below to act as support. For now only look for sells!....price is retracing to a 61.8 zone
The YEN pair shows rejection on the weekly support, and a clean morning star doji candle on the 4-Hour chart, We are expecting a retrace to the buy zone of 61.8 - 78.6 (which is in confluence with previous support). I will be looking for buy entries there....for a Strong Buy lasting til end of the year.
AUDNZD appears to be at ascending trendline (Resistance) on the Weekly chart, with confluence from the daily and the H4 timeframes, we see it retracing on the H4 before going down for a strong sell!
Potential buy
Chart is seen to be in a corrective phase, from daily (top-situated) channel within a bigger weekly channel.
Price might retrace to the 61.8 level, that is in confluence with both a strong support + Dominant angle trendline from the bigger channel. Then possibly see a break after some possible ranging, to the 61.8 extension level (also in...
After a breakout from the Daily Descending trendline...And a successful retest. We see an impulse, and now a correction to the 61.8 - 78.6, before shooting to the upside! We might see a very strong potential buy with the dollar losing to the Aussie
Potential Buy opportunity, since we see a nice retrace to the Golden zone (61.8), looking to break the descending trendline. Also there is confluence from Daily Support Level.
My thoughts on the Market of BTCUSD as of now, done on the H4, H1 & M30 Timeframes - purely based on price action and candlestick pattern analysis. Your thoughts would be highly appreciated.
