The only tools we are going to use are resistance and support Lines, trendlines, EMA 10 and EMA 20.
The strategy step by step is the following:
1) In the 4hour chart we draw the support and resistance Lines of major levels. We also get an idea of the intraday trend.
2)Then, we are going lower to 1 hour chart. We ...
The price is APPARENTLY retracing back to the bearishing channel upper's line. This retest has 2 scenarios:
1. Might bounce back and go bullish for a while.
2. Might penetrate the channels upper line and go even more bearish. (likely to happen :) but its Forex so nobody knows for sure!)
* Short it to 1.04600.
Its a sell guys, 90% bounce I guess.... But stoploss if breakout!
I sold 4 position now, targets:
dont forget trailing stop! And stoploss: around 1.05850 if fake breakout don't loose your positions!;)
This pair has a lot of upside potential and appears to be entering wave 3 in a series of 1s and 2s. See charts below for the bigger picture. There is the possibility for a deeper wave 2 here, but at the moment it looks unlikely.
AUD/NZD rejected at 1.0487, finds major resistance at 1.0485 which is converged 50&100 DMAs.
The pair is trading with a bullish bias, RSI has edged above 50 with scope to run further.
Stochs are biased higher and MACD is showing a bullish crossover.
Break above 1.0485 will see upside upto 1.0547 (50% Fib of ...
AUD/NZD failed to break above neckline, is extending downside for second consecutive day.
The pair has slipped below major support by 20-DMA at 1.0643.
Technical studies are bearish, RSI and Stochs are biased lower.
We see scope for test of 1.0588 (Oct 21st low), bearish invalidation only above 200-DMA at ...
AUD/NZD forms 'Inverted Head & Shoulders' pattern on daily charts.
The pair has broken major 200-DMA resistance at 1.0710, bias remains higher.
Technicals support upside in the pair, Stochs and RSI are biased higher.
Breakout above neckline at 1.0770 could see gains upto 1.0920.
On the flipside, rejection at ...
AUD/NZD has broken major resistance at 1.066 levels (38.2% Fib, major trendline).
Technical studies are bullish, MACD and Stochs are biased higher.
Some caution advised as Stochs are in extreme overbought territory, RSI strength at 72 levels.
Strong support at 1.05 levels, we see weakness only on break ...
AUD/NZD builds on previous week's gains, up 0.13 percent on the day till now.
The pair is trading with a bullish bias, scope for test of 200-DMA at 1.0714.
The pair has broken series of major resistances - 1.0485 (50-DMA), 1.0490 (50% Fib), 1.05 (trendline).
Upside is struggling at 100-DMA currently at ...