OANDA:AUDUSD
AUDUSD has been on the downtrend for the past month. Price has tested the lowest key level of support it has tested over the past 3 years.
So I expect a reversal of price to the upside. Wick exhaustion are an added confluence to indicate a change in price action
OANDA:GBPUSD
GBPUSD in an overall bearish trend on higher timeframes(DAILY,4H,1H). Price broke a key level of support to continue its bearish move. Let's wait for a possible retest at one of the FIB retracement levels alongside a bearish reversal pattern to go short on GBPUSD
All I can see is shorts in this scenario. But I am having difficulties understanding why it keeps pushing up.
Ideas to support this idea:
Strong trendline resistance
Key Level resistance
Strong resistance zone
ICI to the downside
DXY strong support at 92, which has already been tested
DXY looks heavily oversold on LTFs
NZDUSD looks heaving...
I closed my buys yesterday and starting to look for sells now.
DXY has been bullish the last couple days but it looks like it may be topping out. It has reached the structure highs, 0.612 fib zone (from the weekly perspective) and a key level which I am expecting to resist for this idea.
For DXY, keep an eye on 92.5 area and 92.665 area.
USDCAD is currently at a...
I closed my sells earlier today and starting to look for buys now.
DXY has been bullish the last couple days but it looks like it may be topping out. It is nearing the structure highs, 0.612 fib zone (from the weekly perspective) and a key level which I am expecting to resist for this idea.
For DXY, keep an eye on 92.5 area and 92.665 area.
EURUSD on the...
Possible break to $1860 if $1780 breaks...
I am cuurently observing the $1785-$1790 level. Breaking here should put more pressure on the price to decline. Support here and we could go back up to test the 1800-1808 level.
Im not in any positions at the moment. I've emphasised on remaining short in this market unless momentum suggests otherwise, yesterday was...
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There is very strong support area. We are waiting here for price to come on this area and then we will wait for entry. Next weak i think USD will week are all NZD EUR and AUD pair will be strong.
