As We Broke down from monthly to weekly timeframe we are seeing shift of momentum to upside. we clearly see structure now creating higher highs and higher lowers and now we see price retrace to the daily support area and
--> we see a nice double bottom with a nice higher low indicating price will have buyers power to push the market higher.
i will do a quick...
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In long at EurJPy - going well till this time hope to contonues
Expert, please share your view - will lear more from your view points
Gold is going short for me as per now, as we see on the chart, it created a harmonic pattern and it reached the resistance level, so gold will have to test the support level.
therefor we are going to execute a sell for gold and don't worry about the lot size.
Yesterday GBP/USD price broke through the key technical level of 1.3000 and posted it's first lower low on the 4H timeframe since late July. Today price looks to be returning to test the 1.3000 support turned resistance zone, which is also in confluence with the weekly descending trend line. As a result of this confluence we are expecting a strong rejection from...
". There is still a possibility of temporary retracement to suggested resistance line (0.6791).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
. NZDUSD is in an uptrend and the beginning of downtrend is expected.
. The price is above the 21-Day WEMA...
Good Morning Traders. All indicators are bearish on the chart with the upper trendline having acted as resistance twice and price seems to break through the the 69.55 level. I do not consider this to be a strong level and with no immediate strong support level on the daily chart I willing to place a long term trade on this pair.
On chart the next strong level...
. There is a possibility of temporary retracement to suggested support line (1.06300). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. AUDNZD is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic...
EURUSD is trading in channel pattern in shorter time frame also it is forming head and shoulder pattern within channel pattern . according to chart pattern , we think EURUSD may come down towards the support 1 and support 2 as a target 1 and target 2 . one can initiate the trade with proper risk management and stop loss .
Note - trade with proper risk management...
AUDJPY is trading in a Rising Wedge pattern. Considering this pattern it may continue the same for some more time, we may see a pullback in AUDJPY, as it is trading near the resistance line for the rising wedge. We may see price pullback towards support 1, as the first target then crossing point of support 2 and support of rising wedge pattern, as the second...
USDJPY is trading in a rising wedge pattern. It has tested the rising wedge pattern resistance and reversed from it. We may see the price pullback in USDJPY towards the support of the rising wedge, if it breakout of the rising wedge on the downside, it may test support line and bounce back to get back in pattern and test the resistance 1 and resistance 2. Overall...
EURUSD is trading in descending triangle pattern. it trading at resistance level of the descending triangle so we might see it move towards Support zone level from current level . one can trade for short side with stop loss just above the resistance line of descending triangle pattern.
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Looking at the chart, we can see a potential buy area between: 6.90379 / 6.85929, with a SL below: 6.85927 and a TP#1 area between 7.11314 / 7.03962 where I recommend closing 50% of your initial tradesize to give the TP#2 area "air to breave" and give you potentially more gains in the area between: 7.29197 / 7.18672
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With Price finding resistance at the daily level of 0.7000. We can expect a pull back into the 0.69305 region of support.
A pull back will also be in the 71 Fib level.
A pull back with a 3rd touch on the trendline too and a push upward to the upside and Target of 0.70400.
DXY is approaching our first support at 95.67(horizontal overlap support, 100% Fibonacci extension , 61.8% Fibonacci retracement ) where a strong bounce might occur above this level pushing price up to our major resistance at 95.67 (61.8% Fibonacci retracement , horizontal overlap resistance). Stochastic (89,5,3) is approaching support and we might see a...