This month, price rejected 1.8800 for a second time this year, mainly due to Canadian Dollar strength.
Back in July, we saw a text book impulse, correction, impulse move after rejecting the big number.
This time the bearish move looks just as strong, but with the trendline very close by, will we see a correction before price comes to test it?
Look for a trade...
With price now above the bearish trendline and printing higher highs and lows, there is a potential to look for long trades on any pullbacks.
Look for a trading opportunity that meets your rules.
With price having had a 5 day bullish run, we finally see a Doji candle print at the end of last week.
This could possibly mean that a correction is about to play out or possibly a top in the market.
Look for a trade that meets your strategy rules.
In a previous analysis, we were watching EUR/AUD for a possible trend continuation setup off the trendline, but with price breaking lower, the market sentiment may now have switched to sells.
With the moving averages now in a bearish order and with price below the trendline, there may be a possible shorting opportunity if price pulls back and corrects the current...
Price is in a bigger term downtrend and has printed a Shooting Star candle at resistance.
This could potentially be the start of the next move down.
Look for a trade that meets your strategy rules.
Price is in an uptrend on this time frame.
After reaching the -61.8% Fibonacci extension level of it's last bullish impulse, we have seen an Evening Star pattern form.
This may be the start of a correction and we could possibly see price back at 0.9036 which was the most recent resistance on the H4 chart.
Is a counter trend move on the cards?
Price is currently testing the daily support trendline which has previously been tested and rejected twice since June.
There is no confirmation yet of buyers coming in again but it's an important area to watch and see what happens next.
Look for a trade setup that meets your strategy rules.
Since price broke out of the triangle correction pattern, we have seen strong buying momentum.
Currently, we may be seeing a correction take place with Tuesdays candle printing as a bearish engulfing candle.
A break above this candle could signify the end of this correction and the next bullish impulse.
Price started a bearish move at the end of July.
There have been 2 impulses from the sellers and we are currently seeing what looks to be the second correction.
Look for price to head towards the trendline and possible reject one of the Fib retracement levels.
Look for a setup that meets your strategy rules.
Price has printed multiple rejections at the 2.1000 level with the most recent on 21st/22nd August.
A pullback may give a sell setup depending on your strategy rules.
A possible target is 2.0500
With price back at the big number 2.0000, will we see another rejection like we did in April 2025 or is your bias to the upside?
Sellers could look for a break of the trendline and a correction or a possible double top before selling off.
Are you a buyer or a seller?
XAU/USD is getting closer and closer to the apex of the triangle. With the pressure coming from the buyers and the sellers, who will win out? Will 3440 be tested again or do you think momentum is with the sellers?
The GBP/USD daily chart appears to be forming a classic 'Inverse Head and Shoulders' pattern with a possible right shoulder at 1.34 on Friday.
If you agree with this analysis, look for a break and close above the neckline and a correction for a buy setup.
AUD/CAD appears to be ranging between circa 0.8880 and 0.90100 on the daily chart.
With price rejecting resistance again over the last few days, there may be an opportunity to sell.
If you agree with this analysis, look for a trade that meets your strategy rules.
Price has bounced at weekly support circa 1.0700 with a strong bullish impulse.
Look for a correction on the daily chart and a buy setup if you agree with this analysis.
Price has been in a bullish trend since way back in 2022.
The most recent price action saw price in a triangular pattern until finally breaking to the upside on 13th August.
This is potentially the start of another bullish impulse in line with the overall trend.
Look for a trade setup that meets your strategy rules.
Since bottoming out at the end of July and the beginning of August, we have seen buyers take price higher and an uptrend has now established.
Look for a buy setup that meets your rules if you agree with this analysis.
Price has rejected the 0.8730 zone after a couple of failed attempts from the buyers.
After 2 solid days of selling, we may see a temporary correction where there could be opportunities to sell at a higher price.
Support at 0.8610 may be a target aim for.
Look for a trade setup that meets your rules if you agree with this analysis.
