The analysis for this pair shows that this will be a long term down trend due to the triple top price action pattern that has occurred. The triple top indicated trend reversal. the trend should relatively follow the descending trend line and at the moment this pair is having a retracement. A good place to enter a short would be when the retracement is done and...
Now in this setup there is two things to consider. Right now this pair is Long term SHORT trend on the daily and the weekly. However, this trend might be LONG in the short term. If the pair breaks the 4h trend line (blue) which is the one clearly depicted and closes above the first short term top indicated by the closest green line, then it can LONG to the next...
USDCHF throughout febuary has been pretty bullish but there are key resistance ahead that could lead into short swing trades
It seems a lot of us are looking for AUDUSD to drop to the .84's.. well we do too. But I do not see this happening this year. Historically AUD has been the chosen currency that traders buy at the end of the year. I would like to see this pair rise to .88750 - .90823. From there we would take a position short with little to no risk of this going long.
USDJPY has been climbing since July after spending a few months consolidating. We have created a channel back dating to lows and highs of 2012. USDJPY has just hit our 161% fib from 2009. The perfect setup would be for this pair to reach 118.732. From their we would confirm heavy ressistence and be looking for a excellent position to go short.
We are looking to continue momentum up for the third contact on the top line of the descending channel line. From there we will take that bearish sign short.