The technical situation on the main currency pair has not changed. At the moment a small advantage is the demand side, which is trying to once again lead to break the resistance level at 1.12. However, increases are limited, as the market awaits Tuesday's readings, which may be the signal for a stronger movement. If you receive readings support the European...
Looking at a possible counter trend long on USDCAD as price is revisiting a upward trendline drawn from the yearly lows. This area is also a nice demand zone area on the daily timeframe. However, we should consider that the Trend is Down on the weekly and just left a weekly supply zone.
We are currently bouncing on support right now so expect bullish movement very soon. I'm deadass guys. Especially because price hits the 618 fibonacci retracement on our 4hr chart when using the last swing like I did. You're welcome ;)
Hello traders, Looking back on EURUSD this is what I see from an elliotician perspective. I hope you find this helpful for your future wave count. Please notice how the Fib. time zone tool complies with the wave count. Trade safe, trade well.
USDJPY Bullish Bat. Possbile Time and Price Zone
after price formed a "dirty"tripple top it was able to break the upward trendline ..a nice short trade ;-) the idea is to short this pair again at the "zone" ..also 61% retracement of the last downward move and ressistance from the falling new trendline..
Shorting GBP/USD Sterling weakness among all currency pairs
Last week brought weakening of the euro against the dollar, which was consistent with my assumptions, which I presented in the last daily reports. On Friday also they came to break the bottom of the nearly three-week trend side. Overcoming support at 1,0972-81 may suggest a further weakening of the euro against the dollar, towards the level of 1.0909 (at least...
price is starting to consolidate inside a daily demand level while we have been in an uptrend. I'm looking for PA (price action: order flow)to confirm this level and see a couple of bigger bars to the upside. As institutions confirm this level then looking for profit targets @ the previous highs.
short at supply... if we see confirmation potential short trade here...
We have been down on GBPCAD for a while. Forecasting that it will continue, we are approaching a wonderful continuation zone that COULD work out to the down side. A market to definitely be watching over the next few days. Right now we can not truly define the risk on smaller timeframes other then the daily. So we will watch 4 hour and 60 min supply zones until...
Important resistance zone 1,1100-30 . In my opinion, a good place to open short positions . The first objective 1.1029 . The second objective 1.0909