daily downtrend has been exhausting after a push and is currently nearing a trend resistance level. Here i believe that price will start another push to the downside after the very big bearish engulfind candle last week.
The AUDUSD is tracing out what appears to be the finishing stages of a downward move. Downward momentum appears to be finishing and our bias is largely bullish for the pair. However current downward move could still stretch to as low as 0.70191/0.70137 cluster zone. At this zone we expect to see strong buy orders enter the market if not before.
AUDCAD has assumed a bullish shape. Currently we anticipate consolidating into long positions just above the blue trend line shown with target in the 0.96388 region. However, any price move or price close on a daily basis below 0.9352 zone invalidates the bullish outlook
#gbpnzd is currrently sitting near a weekly resistance of 1.94516 and is retesting the area. It had a clean break to the downside, is retesting, and if the ceiling holds, could mean months of bearish momentum. With the setup that i have made, it is about a 300 pip risk before the Stop loss and a 2,250 pip gain down to the previous low of 1.68607. I think if you...
gbpjpy is trending down inside a beautifully respected parallel channel. i'm expecting this trend to continue with the weak sterling and continue to the bottom half of the channel. finding suppoot around the 1.36 levels
NZDcad has been in the process of completign the head and shoulders pattern for quite some time and i believe it is ready to make its drop. current price should hit its head and then fall down to .895 levels and below.