Previous Analysis linked below.
Price came back down to retest the zone and the TL that was broken and found strong resistance. A crab pattern was also formed on the touch of the zone.
Check out my earlier analysis in the comment section to see my view of it.
Currently at the top of long term ranges - fakeout to the upside followed by bearish pressure in the markets, potential break of short term structure potentially indicating further downside movement for this pair?
See how bears failed to push price down to support. This is our first indication that bulls are beginning to take control of this market.
Bulls did indeed take control and we've seen a breakout overnight of this range after some indecision at our key resistance level.
Where will price head next on this pair?
Interested in talking trading over the weekend? Why...
Price has rallied up to tag our long term resistance zone before bears have entered the market once again. Will we see a break of our ascending trendline? Price still trading inside our blue highlighted area bouncing between key levels in the market.
Bears continue to take control of this market as price breaks to the downside. Could we see a retest of previous support before further movement to the downside?
We forecasted a break to the downside because it was in line with our HTF directional bias on the pair. For more - just drop me a private message!
We have seen our forecasted break of the key 4hr resistance level on this pair. We have predicted this for a long time now. As expected, it's a strong bullish break with CHF weakness through the London session.
Go back and check through my previous analysis on this pair!
Break of structure, double bottom formation - bulls take over the market and break through range bound price. Simple analysis on this pair.
Watch for the blue key levels marked for turning points as we begin our ascent! Check out our two previous linked ideas!
On the daily we are in an ascending channel. Scale down and you'll find key levels on the 4hr. See how these key levels are being broken to the upside? This indicates bullish momentum in the markets and aligns with our longer term outlook on the pair.
The blue levels here are key levels in the market where price has gravitated to and bounced from more often than...
Price has closed for the trading week at our key resistance level. We are expecting to see further tests and a potential break to the upside next week.
Stay tuned for more analysis - and of course, any questions don't hesitate to direct message me. I will do my very best to get back to you!
Have a great weekend folks!
Check out our previous forecast on EUR/AUD. We can see price has broken our resistance level, retraced and tested the level as support before bouncing away.
We predict market moves before they happen.
Happy Trading. I'm around during the weekend if you want to send me a DM and we can have a chat about the markets!
Price just get outside of my target Daily supply zone, and currently in Monthly supply zone. In Monthly supply zone, there is a break non-fresh shadow of bullish pinbar. So I think I will get better sell entry in body zone. Target sell exit is nearest Daily supply zone.
D1 chart showing 3x straigh Bullish Pinbar, that failed/break. See the reaction for touch of each pinbar Low price. From below, touch #1, going down. Touch #2, going lower than previous. Now touching #3 Low price bullish pinbar candle. I expect this point for sell until at least nearest support, more than 1000pt perhaps.
USDCAD trendline support break after 4th touch. In my calculation, first break will make 2nd Trendline. Current price need to make make pullback first, then after that can draw 2nd Trendline. 2nd Trendline break, then will make downtrend possible. Looking at possible pullback (buy) at reverse fibo 0.618