Here are the updates & outlook for multiple instruments in my watch list.
1️⃣ EURUSD daily time frame 🇪🇺🇺🇸
EURUSD looks heavily overbought after a recent strong bullish rally.
The price started a correctional movement and broke a solid rising trend line.
I think that the pair will continue the correction to lower levels.
2️⃣ EURJPY daily time frame 🇪🇺🇯🇵...
Update for EURAUD,
the pair broke and closed below a support of a bullish flag pattern on a 4h time frame.
We can expect a bearish continuation now.
Goal - 1.6464
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EURJPY broke and closed above a key daily resistance.
Retesting the broken structure, the price formed a double bottom
formation on that and violated its neckline then.
That confirms a strong bullish sentiment on the market.
The price will most likely rearch 172.0 level soon.
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GBPCHF broke and closed below a key daily support.
Retesting the broken structure, the price formed a narrow range on a 4H time frame.
London session opening pushed the prices lower.
The pair broke a support line of the range, leaving a strong bearish clue.
I think that the market may keep falling.
Next support - 1.1224
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CADJPY may drop from a key daily horizontal resistance.
The price formed a double top on that and violated its neckline.
Goals: 109.86 / 109.6
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EURAUD has recently approached a key horizontal support.
After its test, the price broke and closed above a resistance line
of a bullish flag pattern on a 4H time frame.
We can anticipate a further growth on the pair.
Goals: 1.6565 / 1.6607
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EURCHF is currently consolidation within a strong horizontal support.
To buy the pair with a confirmation, wait for a bullish breakout of a resistance
of the range on a 4H time frame.
4H candle close above 0.9362 will confirm a violation.
A bullish continuation will be expected at least to 0.9385 then.
If the price sets a new lower low, the setup will become...
NZDCAD is trading within a wide horizontal range.
After a test of its resistance, the price formed a head and shoulders pattern.
I believe that consolidation will continue and the price will most likely
drop to the support of the range.
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EURJPY is a risky trade you can take with small risk (strongly recommended) until it breaks below support (potential pump fake out) please enter in with PROPER risk management and wait until further confirmations.
EURJPY
Sell/Short
ENTRY: 163.882
TP: 160.494
SL: 164.668
2-5% risk capital.
XAUUSD
RISKY Buy/Long
Entry: 1843.110 Long/Buy
Target: 1895.599
Stop Loss: 1830.704
Risk: 2% of Capital
Enter in with caution as XAUUSD has been in a downtrend for a while. This is for day traders mainly that are looking to take a risk for a quick potential profit gain.
NZDCAD is testing a key daily structure support.
The price already formed a doji candle on that, confirming a local weakness of sellers.
To buy the pair with a confirmation,
I would suggest waiting for a breakout of a neckline of a cup and handle pattern on 4H time frame.
4H candle close above 0.806 will confirm the violation.
A bullish continuation will be...
Price on the euro dollar has been on a downtrend since mid July, and now it’s clearly shown that it’s slowing down so buyers can take back control.
Price has tapped into a 4H Order block and since then failed to break the most recent lower high, if price breaks this area, then I will be looking to enter into a buy position.
What do you think? Will it continue to fall?
EURAUD is testing a horizontal key level.
The price formed a double top on that on 4h time frame.
To short with a confirmation, wait for a bearish breakout of its neckline.
A 4h candle close below 1.6457 will confirm the violation.
A bearish continuation will be expected to 1.6415 / 1.6375 levels then.
Alternatively, if a price sets a new higher high higher...
Price action & key levels analysis.
Potential correctional movement explained.
Trading recommendations and scenarios.
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GBPJPY formed a huge cup & handle pattern formation.
The market is currently testing its neckline.
If the price breaks and closes above that, it will initiate a bullish continuation.
Next goal for buyers will be 174.7
In order to confirm a breakout, we will need a daily candle close above.
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Hey Guys,
PRE Market Open NY and before all news commences we can NOTE the fall to reasonable support.
look to scale in lightly long alongside prev long term price rejection.
USE LOWER TFS FOR TRADING THIS WEEK BUT MAINTAIN MONTHLY BIAS.
Looking for bounces and early exits.
See you all at market Open Tomorrow.
DXY H4 - Break and retest play seen here on the dollar index around that 105.00 handle. We are hoping to see deeper rejections from this price leading into US CPI figures and also FED interest rate and press conference later on in the week.
The general outlook seems to be a weaker dollar on the basis inflation is starting to cool and central backs are starting to...
AUDCHF is trading within a wide horizontal trading range on a daily.
The price is approaching its lower boundary now.
I expect a pullback from that.
Goals: 0.632 / 0.6348
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