If you check the weekly chart, you will notice that the 1.0000 has been a very strong level over the years. If the bullish trend breaks the 1.0000 it will be strongly going towards the weekly resistance trend line extending the fifth wave and confirming the bigger fifth wave (weekly)
I hope my analysis is useful for your next trades
Don't forget to hit the like...
GBP/USD 0.13% at an important level that was the last month's and week's high point. Currently, it looks bullish but it could be a fakeout, let's wait and see what's the next move on Thursday.
Also, keep an eye on US Dollar Index -0.15% @DXY.
Don't just follow this, you may see some other confluence as well, most of the technicals are saying that it's gonna...
The WR1 did its job and stopped the rally for now. There was negative divergence whilst butting up against the pivot which I should have spotted yesterday for a short entry. Gap down opening today with choppy action between DS1-S2, however the monthly R1 has also been breached as support. Short from DS1 looking for a larger pullback, as long as Trump stops...
The long trade from the break of the diamond pattern has met its target. This weeks early price action has ground up deeper into the target zone, and is now met with WR1 and DR1 resistance. As per the end of last week, R/R is now firmly in the profit taking area, leaving a runner if desired. QT is due which will time well with a move to lower pivots. However a...
While this week is yet not over it could be worth observing how $SPPI closes out this week as she seems to be making all the right moves to take out this weekly resistance level and continue higher. I'm noticing she has been playing by solid technical moves lately, retesting breakout candle bottoms and tops, going bearish and bullish with good signals, and she...
As we cans see here on CAD/CHF price is about entering demand zone if so, then prepare to take long, but there could be a possibility that the price will make a new lower low (broke) so wait for confirmation.
CAD/CHF Forecast On DailyFx
CAD is bearish
CHF is neutral
As we can see here on NZD/USD Chart there a lot of possibilities based by support and resistance (weekly strong) so either long (bounce) or short (a breakout), either way just waits for confirmation candle so we can minimize risk
safe and happy trading
Trend : Up
Volitility : 15%
Good Morning Traders! AUDNZD has completed a beautiful Gartley pattern on the 4H chart. The PRZ is tight, with confluence between AB=CD, .786XA and 1.13BC extension. The weekly pivot is precisely confluent with the .382CD retracement and provides a great target. It is smart to put stops beyond XA on these patterns. Happy Trading!
This pair has been trending down on the daily chart as shown by the D1 EMA/SMA's. Strong bearish impulse down shows weakness in the supporting trendline. This setup will capitalize on a breakout down into the completion of a bullish Gartley pattern.
The pair has shown rejection at the Daily EMA cluster which will protect a SL above this level. It has also already tested its average daily range and may retest the trendline. TP at retest or AB=CD with SL above the EMA cluster.
USDJPY may potentially produce a reverse head and shoulders pattern at the base of two descending channels. Two weekly pivots sit above price and are confluent with important fib levels. If price does not met entry, the trade will be cancelled and I may start to consider short opportunities. If SL is hit, there may be a wolfe wave complete just beyond the base...