Currencies are traded on the Foreign Exchange market, also known as Forex. This is a decentralized market that spans the globe and is considered the largest by trading volume and the most liquid worldwide. Exchange rates fluctuate continuously due to the ever changing market forces of supply and demand. Forex traders buy a currency pair if they think the exchange rate will rise and sell it if they think the opposite will happen. The Forex market remains open around the world for 24 hours a day with the exception of weekends.
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EURUSD is approaching our first resistance at 1.1511 (horizontal pullback resistance, 38.2% Fibonacci retracement, 61.8% Fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 1.120 (horizontal swing low support, 61.8% Fibonacci extension, 61.8% Fibonacci retracement).
Stochastic (55,3) is also approaching ...
AUDCHF is approaching our first resistance at 0.7278 (horizontal pullback resistance, 23.6%, 38.2% Fibonacci retracement, 61.8% Fibonacci extension) and a strong reaction might occur below this level pushing price down to our major support at 0.7152 (horizontal swing low support, 100% Fibonacci extension). Ichimoku cloud is also showing signs of bearish bias in ...
AUDCHF is approaching our first resistance at 0.7278 (horizontal pullback resistance, 50%, 23.6%, 38.2% Fibonacci retracement, 61.8% Fibonacci extension) and a strong reaction might occur below this level pushing price down to our major support at 0.7152 (horizontal swing low support, 100% Fibonacci extension). Ichimoku cloud is also showing signs of bearish bias ...
CHFJPY is approaching our first support at 110.34 (horizontal swing low support, 61.8% Fibonacci retracement ,100%, 61.8% Fibonacci extension) and a strong bounce might occur above this level pushing price up to our major resistance at 112.05 (horizontal swing high resistance, 61.8% Fibonacci retracement, 61.8%, 100% Fibonacci extension).
Stochastic (89,5,3) is ...
From a technical point of view, the pair could trigger a second bullish leg and develop an ABCD pattern with support in (a). If our idea is correct, we will post a new update with potential TARGET...
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Thank you for support and trade ...
EURCHF is approaching our first resistance at 1.1480 (horizontal pullback resistance, 100% Fibonacci extension, 50% Fibonacci retracement) and a strong drop might occur below this level pushing price down to our major support at 1.1247 (horizontal swing low support).
Stochastic (55,5,3) is also approaching our major resistance where we might see a corresponding ...
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AUDCAD just started moving as expected, quick Timeframe breakdown for free and everybody.
4 HOUR
Small Pullback to previous H4 Highs taking out sellers
DAILY
Small 3 day pullback last week but overall bearish
WEEKLY
Very bearish price action last few weeks following this move
LEVELS
SELL AUDCAD @ 0.95550
SL @ 0.96670 (110 ...
AUDUSD Pay attention to 0.7300
If price pull back to here, we want to short
Strucutre is alwasy good to help you determine
where is the ceiling and where is the floor
Currency Pair: USD.CAD
Time Frame: Weekly, Daily & 4hr
Predicted Direction: Short
USD.CAD updates will be available in the comments section below.
The brief trade analysis presented above is my predicted direction and requires multiple different indicators and confluence factors prior to validating a trade opportunity.
EURUSD reversed off its resistance at 1.1440 (38.2% & 23.6% Fibonacci retracement, horizontal overlap resistance) where it could drop further to its support at 1.1301(horizontal swing low support).
Stochastic (55, 5, 3) reversed off its resistance at 95% where a corresponding drop could occur.
AUDUSD reversed off its resistance at 0.7320 (100% & 61.8% Fibonacci extension, 38.2% & 23.6% Fibonacci retracement, horizontal overlap resistance) where it could drop further to its support at 0.7245 (61.8% Fibonacci retracement).
Stochastic (55, 5, 3) reversed off its resistance at 97% where a corresponding drop could occur.
USDCAD bounced nicely off its support at (100% Fibonacci extension, 76.4% & 61.8% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 1.3127 (61.8% Fibonacci retracement).
Stochastic (55, 5, 3) is bounced off its support at 5.5% where a corresponding rise could occur.
EURCHF reversed off its resistance at 1.1422 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal pullback resistance) where it could drop further to its support at 1.1264 (horizontal swing low support).
Stochastic (55, 5, 3) reversed off its resistance at 97% where a corresponding drop could occur.
![EURUSD: [EURUSD] REBOUND CONTINUATION ?](https://s3.tradingview.com/t/TqnzQ5fl_mid.webp "[EURUSD] REBOUND CONTINUATION ?")
