The GBP/CHF provided us with the broken Uptrend and the Three Black Crows pattern. The pair is ranging as the Local Support and as the EMA pointed down with the very narrow gap , so I expect the pair to Fall , though the eventually the pullback will follow.
Analysis of #GBPJPY
This market provided two advanced harmonic patterns, BAT, BUTTERFLY, you can be aggressive and sell the Bat now, or wait to see if the butterfly will complete and sell it for better RR
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Towards the end of July '20, EUR/NZD found itself back inside its monthly ranging channel (1) as the EURO continues to advance against the New Zealand Dollar (NZD). EUR/NZD bulls managed to overcome significant resistance which was capped by the 200 SMA on the 29 May ‘20, and are now within spitting distance of testing the top side of the Rising Wedge pattern...
The price is moving towards the resistance level. From there, I expect to go down, where EURUSD will expect a line and a support level.
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In 1D Time frame, AUDJPY has been forming Ascending Triangle Pattern.
At the Moment, It's Facing Major Horizontal Resistance (76.770) & On the Verge of Breakout As Well.
Now, There Are two Possible Scenarios,
1- If Bulls Cleared the Major Horizontal Resistance, Expecting Upside Breakout
2- If Trendline of Triangle Broken, It Might test...
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The price broke trendline and triangle ,after a pullback If price continue to hold the Support then there is a chance that price might continue to grow,wait for the price to make a pullback and if price gives bullish signal and look for buy opportunity..
Wait for the formation of...
A potential Harmonic Butterfly Pattern is setting up. The Potential Reversal Zone is formed by 1.272XA extension + 1.272ab=cd measurement + 2BC inversion.
Butterfly pattern becomes invalidated if price goes past 1.414XA extension. Butterfly targets are 0.382AD retracement and 0.618AD retracement.
Facing Horizontal Resistance of Ascending Triangle in 1D Time Frame Chart.
RSI Indicator Showing It's in Overbought Territory & GBPJPY Might retest the Trendline of Triangle.
Expecting Upside Breakout, If Bulls Cleared the Resistance Area, In Worst Case, If Trendline Broken, It Might test the Major Support Area (125.00)
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EURUSD Has been forming Descending Channel in 4h Chart.
Expecting Upside Breakout, Target Would be 1.1900 (Major Resistance)
Major Support & Major Resistance Levels Are Mentioned in Chart...😐
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The EUR/USD is in the ranging channel at the moment as we take a close 2H look at the pair. MACD suggest that the pair will rise , though according to the intercepting EMA we can assume there can be reverse in the Uptrend. It is reasonable to assume so taking into account that the pair is testing the Local Resistance line , so we can expect the pullback to occur.
This is the current situation with EURUSD. If you are looking for the trades it's better to think about short term positions inside the channel.
If the price will cross any border it will be a place for the next trades.
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GBPUSD H4: RANGE market //...