I have been waiting for this setup for a while. As the dollar index rallied in bullish momentum this week, EURUSD fell strongly. As price is approaching previous resistance, we may see possible rejection as this looks to be a strong level. It's best to wait for clear rejection, maybe in two days or so before considering to go long.
EURUSD has been back and forth lately, with the visible range it was within. Price has broke above resistance due to the US dollar showing strong bearish movement. It's not safe to enter right now, it's better to wait for a retest of previous resistance and we can go LONG
We saw price retesting the support of the triangle and is showing rejection. There are many fundamental factors that may influence GOLD and cause it to rally back to the 2000 mark, but as long as the USD is gaining bullish momentum we can see Gold pulling back to the 1850s.
We all learning so please comment on what you think may happen 😉
If we see a rejection of the previous resistance zone that price is currently at, then that would be confirmation to go long. Still waiting for clear confirmation before making any moves
Looking at the daily chart on USD/JPY, we can se a downtrend within an ascending channel. Price had made one significant higher low which is that in the white downtrend line. Price is still on bearish momentum, but within the green downtrend line that forms the ascending channel. Looking to see if price can be able to form another lower higher by retesting the...
Looking at the 4 Hour chart on Nasdaq, we can see that price is currently on a descending channel and creating higher highs and higher lows. We see that price islooking currently towards the previous high. It would be advisible to wait and see if price will reject that zone or will we see it break to the upside.
