Pairs on Watch -
USDCAD : This pair is now sat at the area of value on the higher timeframe where the shorts could come into play. We can see a 4H rejection at the highs but slightly running out of steam through Asia. There is a clear area of value on the 15M we can work with to see if we get a risk entry short for this to continue selling, if it does not hold there is a chance we could actually get long into the next high above for a deeper pullback before sells come in.
NZDUSD : Price is still building volume within the higher timeframe 123 move to the upside, and with some pattern separation we can see a 123 drive into the low. I will be waiting for an insurance entry from this base for the longs, this is a lot of volume that has been building so must also be aware that if the DXY heads long we could be looking at a sell structure below the base.
GBPUSD : Price is sat at the bottom of a range where it sold into yesterday with a lot of momentum, however with the DXY still in a position where it could sell I am not writing off the longs here. I am waiting for price to break above the ray line and use that as my line in the sand, if it breaks and gives a flag above I will look to get long. If not, I am sitting tight and letting price develop a little more in this area so not to get caught in any traps.
USDCAD : This pair is now sat at the area of value on the higher timeframe where the shorts could come into play. We can see a 4H rejection at the highs but slightly running out of steam through Asia. There is a clear area of value on the 15M we can work with to see if we get a risk entry short for this to continue selling, if it does not hold there is a chance we could actually get long into the next high above for a deeper pullback before sells come in. NZDUSD : Price is still building volume within the higher timeframe 123 move to the upside, and with some pattern separation we can see a 123 drive into the low. I will be waiting for an insurance entry from this base for the longs, this is a lot of volume that has been building so must also be aware that if the DXY heads long we could be looking at a sell structure below the base.GBPUSD : Price is sat at the bottom of a range where it sold into yesterday with a lot of momentum, however with the DXY still in a position where it could sell I am not writing off the longs here. I am waiting for price to break above the ray line and use that as my line in the sand, if it breaks and gives a flag above I will look to get long. If not, I am sitting tight and letting price develop a little more in this area so not to get caught in any traps.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.