The weakening sign observed in MACD and RSI and price may retract back.
Idea to long AUDNZD at 1.0436
Stop loss set at slightly below pivot S1 support line, 1.0373
Target 1: 1.052 (R/R: 1:1.5)
Target 2: 1.0592 (R/R: 1:2.7)
Crude oil quickly retracted once it touched at neckline resistance and R2 at 49. If break the trendline support and close the gap, then it could back to 43 level. Estimate time is within a week.
A closed price above 735 could bring Palladium continue its steep uptrend to next resistance trendline. Oppositely, the potential triple top and weakening MACD could stop its recent upforce and retrace back. Keep watching this.
The price action of Corn is potentially creating an ascending triangle for uptrend continually. Strong resistance($3.50~$3.60) built up. If Corn price goes above the price range or breakout the upper trendline of ascending triangle, the uptrend could be accelerate to next strong resistance line @ $4.40.
Having an idea for short GBPCAD at classic pivot R2 line and highest point of previous downtrend (1.721 ~ 1.724). Due to harmony number of this pair' price change, tend to give allowable 200 pips exceed than the said potential resistance. If trend reversal and possible to retrace back the pivot point and 50% fibo (1.6636~1.6575).
Refer to 4 hours Chart, there had a selling pressure zone (1.06 ~ 1.075).
Looking a short AUDNZD opportunity at 1.06.
Risk about 80 pips & potential profit 150 pips, R/A ratio about 1:1.8
