Looking at this nights try to initiate of a breakdown the support level failed for now and has been bought back big times. This does certainly not mean we are out of the woods, but closing the week above the Quaterly Pivot was a good start, especially with a spot-landing on the potential low of the potential Adam and Eve. We do know this pattern well from our...
Anything red or yellowish is sort of starting to worry me. Also talking to a lot of people recently, I start to think the bearish approaches might have some good reason to do so. Some important levels down here, that BTC should stay away from. Let´s not break the P-Q downwards! Sideways would be enough (for most of us). ;-)
Happy trading guys and stay safe....
The following methodology on the chart is action and reaction by Alan Andrews. As for MACD and OSMA indicators, they are showing signs of possible bearish divergence.
It seems to me that GBPUSD is gathering energy for the last move down - to reach the big-scale 50% reatrecement at 1.6522. The 1.66 key level has proved to be a strong resistance for the recent price action. Should it fail to hold though, price might get to the median line, thus retracing 61.8% of the recent swing down. But the down trend is very strong. GBPUSD...
AUDNZD may be heading for the 1.091 multipivot level once again. But first another test of the magenta median line. The AUD is getting stronger, much more so than the NZD. Found support above the prior major low, broke the basic bear trend line and is ready to make another leg up in this trading range we've seen it since the beginning of this...
