As we can see price is a near-daily resistance zone and we are looking for some correction here and if the price touches our support zone then near our support zones, we are looking for long positions once again because currently, the long-term market is bullish.
Targets and supports ahead:
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We can see the level of 220 Soon
A Head and Shoulders retest is not exactly common. Since the market has stabilised from the fall, it is a good opportunity to reengage the trade. The previous high would be the area I'm looking to shift my stop to entry and I'll observe closely at that level.
Break and close above the high at 0.7850 would be preferred.
4HR chart has presented a double top, moving through to the 1hr we have a triple test of the double top with price currently testing the 150EMA, also there the RSI is showing divergence. We could potentially see a move all the way down to 1.06500 over the next week if this analysis plays out.
US30 recently breakout of a bearish channel structure.
It retested 30.100 area , which was a resistance area turned to support.
A new Higher high was made
Throughout Mondays sessions the price was playing around the same area , basically ranging.
But because support level of 30.100 has been strong , I am seeing a continuation towards the upside .
The main take...
EUR and JPY are pretty strong this week but there is a chance we can see this W formation retest happen.
The pair just broke the trend and might go for a retouch of the previous resistance before the continuation for upside.
It either i'm goin LONG Or SHORT on EURCHF Daily ! Just have to a wait for a retest Pullback nearest top resistance 1.18134 , then goin SHORT if there a candle stick reverse pattern! OR if there a BREAKOUT on 1.18134 then goin to wait for it come back to retest1.18134 for a LONG since it trending up!
Gold has broke previous trend line and is now retesting the trend line at a strong fibs level. Buying gold within the horizontal level would be a good idea. Target should be for the higher trend line. Stops should go below the lows.
USDJPY has been showing strong bearish momentum and is moving strongly to the downside. It will breakout of the structure and retest the Brexit lows for one time it also seems to happen at the 1.27 Fibonacci extension. to give us a good target to hit.
Some more confirmation of this move is the Bounce off from the 50 EMA which it has failed to break for quite a while.