The third touch on the trendline could be rejected for push downtrend. Although, it should be noted that the pair has made new higher highs so careful monitoring of this pair is important.
Potential entry @ 0.87684
Potential retest off the trendline before continuing downwards due to the strong bearish momentum on the pair.
Anticipating a break of the support zone as the area has been tested several times.
Let me know what you think in the comments below.
Enter on completion of the retrace. Short-term trade with potential for a swing trade
Price is testing an important support zone.
Be careful of the stop hunts that may arise.
Risk-reward ratio 1:3.1
Entry @ 1.69255
Reversal at the downward trendline on the 4H and the pair has formed a symmetrical triangle.
I expect the price to trade within this triangle and then hitting the first take profit before proceeding to take profit two to potentially form a double bottom.
Risk-Reward Ratio: 1:4.52
SL: 1.75785 ( -69.4 pip risk)
My analysis of how USDZAR can potentially play out over the upcoming days.
I'm anticipating a reversal at the 61.8% fib level. Will update on the trade as the week progresses.
What are your thoughts on the pair? Hit the comment button and let me know what you think.
Price is at an important area of support on the weekly chart, I anticipate price to bounce off this area of support and head in an upwards trajectory for a bullish movement.
On the 4H chart we see that a new ascending channel can form and as such, I expect the pair to trade within this channel. Retest appears to have been completed.
A great potential swing trade...
Formation of a double top on the weekly, daily, and 4H chart gives a strong indication that price will head downwards after experiencing bullish momentum for a period of time. Price is also at an important area of resistance at which I expect the price to be rejected and head downwards to form a bearish momentum.
Trading this pair using the breakout...
I anticipate a formation of a triple bottom on the 4H chart and a double bottom formation on the daily chart.
Price has also reached the weekly support zone which has been tested before (blue zone). On the monthly chart the same zone has been a critical area of resistance, I anticipate this zone to be broken on the monthly chart to continue an upwards trajectory....
Price has reached an area at which I expect growth from.
I anticipate price to bounce off the daily upward trendline for a buying opportunity, albeit there's still heavy bearish momentum.
Price has reached also an important area of support from which a buying opportunity is highly probable. Confirmation of candlestick patterns should give signal to enter.
I anticipate that price will bounce off the short upwards trendline on the daily chart.
The US Dollar Currency Index shows a strong inclination to support USDCHF long prediction as it's also moving in quite a similar direction.
Entered trade at 0.93870
A risk-reward ratio of 1:7.89
SL: 0.93540 (-49.1 pip risk)
It should be...
Based on my analysis, I anticipate price to bounce off the trendline to trade within the ascending channel and head upwards.
I've already entered the trade at 1.06400 right after completion of the retest on the 1H chart.
Risk reward ratio: 1:7.9 (Swing trade)
SL: 1.06147 (-36.2 pip ris)
Let me know what...
On the daily chart, the pair is at an important area of support. A strong indication of a reversal is imminent with a double bottom highly likely.
As such I anticipate a bounce off the trendline once the retest is complete to also form an inverse head & shoulders on the 4H chart.
This is a swing trade with a risk-reward ratio of 1:12.36.
So GBPNZD LONG: