DAILY- Formed symmetrical Triangle which means breakout is JUST AROUND THE CORNER Breaking either side can give you GOOOOD PROFITS!!!!
4H- Blue trendline broke this trendline will move down to 4 hr support or lower to daily tendline
4HR- Ascending channel possible a pullback can be a reversal or a continuation of a trend so be careful
Daily- Price at major resistance and it is on an uptrend momentum
Aiming for 61.8% fibo. Since the price is at the support level a break of this 4 hr trendline can push the price to the golden area followed by a continuation of the downtrend. IF the price breaks this support area this technical analysis is invalid. So all eyes on US major news today I hope it helps to boost US dollar....
There are news expected this coming friday US will be positive since there are a lot of people going back to work and optimism over vaccine. This will help to make Dollar stronger again
POSSIBLE to short this pair.
1st: a Steep incline gives a possible area to find a higher low
2nd: It is at the resistance area
3rd: Price action showing sign of weakness possible a change of reversal
GBPUSD on Monthly chart has formed a falling wedge as you can see it is nearing the orange trendline which represents the monthly trendline. Whereas, on the daily Timeframe, it is forming an ascending Channel a possible breakdown to the downside and upside is possible so look out for a breakout
Using the Daily TF GBPJPY is breaking out soon from the symmetrical Triangle so keep and eye on this pair. Orange line are Monthly Zone and Black are daily zone
This is my new point of view wait for a bounce before going long probably a retest to the specific support makes sense to go higher. Nonetheless, is all depends on the price action if it breaks the support it will then go downwards.For now, I would just focus at the present time
Based on Daily Chart, DXY has formed a falling wedge prepare for USD moving to the upside to a specific target. Either trade after retest or Breakout. I would prefer a breakout
