As per our previous analysis of EURUSD, it hit TP1. So now as EURUSD is in the retracement zone. We'll look for possible bearish confirmation.
Entry: Possible bearish confirmation or Divergence in M15 or above.
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If I remember correctly, this analysis is very similar to one I've posted earlier this year and it was also on EURAUD. Today, if we look at the daily chart, we can see that this pair has broken an important uptrend and might have completed the pullback. In the H4 chart, we can observe that the smaller uptrend has also been broken. On the chart above, my analysis...
Ok there seems to be a lot happening to back up a short.
Previous support acting as resistance pushing down on price
This setup has occurred several times in the past and every time it falls around 15% this would take us to the major trend line and 78.6% fibs.
All in all this is looking like a good setup, wait for...
Will resistance be respected or ?
- Major bullish engulfing candles in the mix.
- EMA's look like they may cross soon indicating a change of trend.
The next candle close could tell us what we need to know.
Short EWZ on touch of long term resistance line and apparent continuation of long term bear market. However, if current correction leads to an additional wave up and breakout from the trend, the trade will be stopped and there are high chances of reversal towards long term bull market.
In a few days EURUSD is goins sideways in a nice range between (approx.) 1.05622 and 1.06700. I expect a bounce from resistance around this time. This trade has a very good RRR - more than 1:9. TP and SL as on chart.
Although I have entered the trade too soon, I still believe I can cash out a nice profit in short time.
Fundamentals: watch out for NFP tomorrow,...
Gas has just retraced and bounced off of the 2.65 Support level. It has also met with the lower end of it's uptrend that has been growing in strength since march. This is a good opportunity to enter long due to the strong support, uptrend strength and great risk reward ratio. My stops will be at roughly 2.45. Take profits will be spaced equally at critical...
We're almost at weekly ATR level, that means PA has traveled near to the normal distance for a week based on 20day ATR. It's also a great level for structure, looking left. If we get a breakthrough then there's the pullback entry option to go long
USDJPY Price structure analysis (1H). After a strong move down and a break of support, price is now retracing towards the resistance zone. Look for short opportunities as I expect a next leg down and price to retest the 100.00 level. Look for bull traps for shorting opportunities. Wait for price action to confirm the reversal.