Price has been trading with a descending channel (hornet) quickly spotted from the D1 domain. It was able to break the resistance line from the structure only to form a clear double top pattern, confirming a downtrend movement.
Currently finding strong support as expected on the 200MA acting at the last line of defense before the massive downward momentum. If the...
Price action has been compressing, forming a triangle pattern. And from the D1 domain price has respected the descending trendline, finding rejection from that level. Technically speaking, the pair looks under bearish momentum after the consolidation with the formed pattern.
Short entry at the 4th touch is placed with the following characteristics.
The pair shows some bullish momentum with the New Zealand dollar. After the breakout of the previous support level, a retest over the broken level is expected before the uptrend continuation, allowing the setup of a long entry with a decent R:R
S/L: 36 pips - R:R | 1:2 -
T/P: previous confluence zone from support and...
New Zealand dollar under sellers pressure has recently formed HL&LL pattern, looking forward to price action to break the support continues blue line from D1, for a retest an entry in the market with a short sell order.
S/L: 20 pips - R:R | 1:2.3 -
T/P: previous confluence zone from support and trendline
*** If you like the...
Looking for a drive back up towards the VWAP. This might be a patience game but we have a good stoploss at 70.300
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This trade is valid until 09/07/2020 @ 9 pm BST.
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As price managed to break its previous consolidation from the Asian session, remaining in a bullish trend, with the smaller exponential moving averages about to cross in a golden move in H4 domain, a long entry is placed
S/L: 52 pips - R:R | 1:2 -
T/P: aiming towards the resistance
The counter has been declining steadily ever since it hit the high of 71.663.
However, it has now found support the levels of 68.226 amid testing it twice.
It has formed a bullish pinbar followed by three white soldiers, which is a powerful reversal signal.
Further, it has crossed the bearish trendline with a strong bullish candle.
Hence, we expect the pair to...
With the price in consolidation within an ascending channel, wherefrom a W1 outlook price has just found rejection from the resistance trendline, under a bearish bias, allows for the following setups:
Price continues to form the channel reaching the resistance level with a buy-limit order
S/L: 145 pips - R:R | 1:3
T/P: aiming towards the demand...
Price action fund rejection from the strong level drawn from W1 timeframe, being able to manage a breakout from the trend line, and retest of the level changed the reading of the previous post from a short-entry to a renewed long position.
The pair bullishness is supported not only by the price structure but the MACD and smooth sloping up from the 200MA
Price action is coming from testing a critical resistance level from a downward trendline at W1, as expecting the price to continue bearish until next support level, H1 is finally showing an LH after a strong rejection from 200MA suffered by the previous high.
Together with MACD in a clear bearishness, for a short entry as follow
this pair might not be ready this week, but it is setting up for a good short if that flag structure develops during this week. Will be monitoring this throughout the week. There is a possible drop through the support floor, will be looking out for that possible outcome for an entry.
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Previously, buyers have been trying to push this pair higher and above 200EMA, but we can see major sellers stepping in after price has reached the 200EMA (as highlighted from the green circle).
Last week, we saw a significant push from buyers once again and breaking thru the 200EMA and now price is consolidating between a major and minor S/R zones....
As shown in the chart, a short term bullish move can be expected in NZDJPY, especially after positive news came of NZD's CPI announced earlier today. A short term upward move with the next resistance 65.050 levels can be expected.
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💡 NZDJPY technicaly based idea, we can see price is bounce from bottom trend line , candels formation is strong...