Zone
Big Retracement Coming Then ContinuationEURCAD doesn't seem like it, but its been consolidating for a really long time. So this meltdown was bound to happen since it still respected an overall bearish trend. But here has been no major retracement and the RSI even on the weekly is screaming it's overdue. So here are the TPS:
BULL TP:
1.479038
1.47998
1.48805
This set of TPs will start from the 3rd bull TP
BEAR TP:
1.47998
1.47638
1.46054
1.44712
DXY Support zone and possible TP area for bullish pull backIn this chart we can see the dollar index finding support at the same area as two previous lows. You may also notice Monday closure perfectly landing on our -0.27 Fibonacci extension, furthering on we spot a daily bullish spinning top Tuesday rejecting the low zone previously mentioned and closing above the fib level! Running from the end of September 2018 we have a trend line, holding price up on multiple occasions. That is until recently, the break of this trend line came in mid June. If price manages to break back through the base of our Fib I would likely be looking for short entries between the 96.75 and 96.85 region. This not only coincides with our trend line but looking left also a decent sized mid range zone.
ETH/USD Trading IdeaPriority: Short
Reasons for open position:
- sell zone is 267-271
- we have downward channel and border of it coincide with sell zone
Stop above 271
Take profit 1/2 (257.1) and higher, depends on your greed
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AU: Holding Neutral ahead of RBA DecisionAU remained neutral ahead of RBA decision - closing below .6935 resistance -- A retrace to .69650 could be in the picture before cut talk; My view remains to short and should remain bearish under .70000 price point. AiG Manufacturing news out soon will help set the tone heading into the week...
Support Levels: .68950, .68650, .68250
Resistance Levels: .69350, .69650, .70000
*Not Professional advice, just my viewpoint.
Let me know what you think!
-Krecioch
Major Support zone HIT!AUDCHF price has bounced from the major support zone highlighted by the pink rectangle. It has also been travelling in a descending channel. We believe price will now make its way up to the zone shown above (0.70500), price has made a Higher High on the 4H chart, it will now move up, break above the descending channel , come back down to retest the channel like shown above before starting a bullish rally.
AUDNZD Fresh supply & demand ZonesWe are seeing that currently, we placed our fresh major supply and demand zones in our trading pair AUDNZD , It has yet tp be breached with price and hence we have an untouched zone, deemed worthy of being a confirmation for a reversal since our extension area. We are currently in a nuetral position with this trading pair and we are looking to go either long or short based off what price action is going to be telling us..
we have the coordinates on each of my zones, in (AQUA) colour so you can see exactly where my zones are...
This will be done with all my supply and demand zone analysis for today only until we exeucte our positions.
Watch and wait for either our supply and or demand zone has been Penetrated with price
AUDUSD - Daily Supply and Demand OutlookCurrently price is approaching a nice supply level at 0.72263 with no clear and strong demand level below (besides that obvious spike). So short trades around that level on lower timeframe supply zones might be a great opportunity to join the main trend of the market. Targets could be all the way down to the most recent support level around 0.7055.
Good trading everyone!!
GBPUSD - Daily Supply and Demand OutlookPrice is currently in a downtrend on the Daily timeframe, shown by the lower highs and lower lows. Also, price has bounced from the Supply level at 1.33773 and is in the middle of the curve until the next Demand level below at 1.28453.
We could take a look at lower timeframes and find supply zones to take short trades, as the odds are on that side.
EURUSD - 1H Supply and Demand OutlookLooking to take advantage of small profits from the demand levels below, however, we are currently in the middle of the Daily curve, so we should be cautious with either taking supply or demand levels. The supply level at 1.1316 has not been taken out yet, however, there is some divergence from oscillators so I expect price to touch the demand levels below soon.
See the Daily outlook for more details on the higher timeframe.
EURUSD - Current Price OutlookThis pair is currently trading in the middle of the Supply and Demand curve on the Daily timeframe. Based on structure, the bias is bearish, however, the Demand zone at 1.1195 is in control, so overall entries on lower timeframes should be cautiously bearish. Let's see how this pair develops for the rest of the week. If price manages to go higher in the curve, I think we might have a very nice trade on lower timeframes supply levels.






















