On this 4H chart for GBPAUD we can notice a strong resistance range. Recently the price broke temporary above it but now it dropped to retest it. In the proces of retesting it, the price started forming a potential Bull flag. Am effective breakout from the pattern can align with a re-bounce from the support range and lead to a strong increase in the...
On this chart for NZDUSD 30m you can notice that the price is forming a Double bottom. The bottoms are bouncing from a strong resistance range that has been created from multiple low points starting from the 14th/15th of December 2023 ( Zoom out the chart so that you can see them ).
Additional confluences:
- MACD Bull cross
- RSI was oversold at the time of the...
I believe the corrective pattern to be complete and than price is ready to make new highs or touch the previous high.
a minor push lower is possible but we currently rejecting a very good level.
The day chart of USD/CAD is currently in uptrend.
But the pair is witnessing a corrective rally due to profit booking.
We expect the pair to find support at either of the trend lines.
