Current bearish analysis for AUDJPY.
- Price closing below my resistance zone at 85.903 indicating less bullish momentum.
-failure to break the high if March 2021
-break below 50MA on daily time frame
-Double top formation
Price has broken out of my weekly buy trend and I am looking to take any short opportunities after a pullback to the most recent daily resistance which was previous support. This level is also at the 618 level of my fib retracement.
Price has broken out of my buy channel on the daily time frame for a sell. I will be looking to take short positions once the sell is confirmed by retesting the previous area of support which will now act as resistance. I only plan to enter long term shorts once the market is below my 200 MA and I have a cross of my 20/50/200 MA's.
- Price has been in a sell since March 2020
- Price rejected my daily sell resistance trendline
- After price rejected my resistance trend line it broke out of my 4hr buy support and pulled back to retest the resistance zone I have highlighted
- Price is retesting the 4hr resistance zone a second time and I think this would be a good time to enter a sell
- Price broke out of a weekly sell support and has been in a sell since February 2021.
- Price recently broke out of my 4hr sell resistance but seems to be breaking back under that trend line to continue with it's sell momentum.
- I'm waiting for price to break below the 1hr support zone I have highlighted and I am looking to take the sell after a retest of that...
- Price has been in a buy since March 2020 and bounced off my weekly buy support trend line.
- After price pulled back from the buy to retest my weekly support trend line it rejected that support and broke out of my 4hr sell resistance trend
- Price is pulling back now on the 4hr timeframe to retest the support zone I have highlighted.
- Once I...
- Price has been in a buy since March 2020 and has bounced off my weekly buy support.
- Price has broken out of my 4hr sell resistance after retesting my buy support trend line.
- After the breakout we had a strong push to the upside with three bullish candles on the 4hr timeframe. Price is pulling back now and my thought is that this is to hit the stops and/or...
EURAUD has been in a clear downtrend since October 2020. This trend is quite clear from the daily timeframe to 4hr and 1hr. Price pulled back and broke our of the down trend breaking my resistance trendline however it failed to takeout the previous lower high and retreated back to close below the resistance trendline. I have adjusted my trendline to the new lower...
These are two possible scenarios that could play out on this pair. I'm not expecting price to do anything or move in any particular direction, I will wait for the market to reveal it's next move. Price is currently in an up trend as seen on your higher time frames however it has pulled back quite a bit. Price will need to start setting lower lows and lower highs...
Price has broken out of my buy support trend line and retested it. This market has been in a down trend since March 2020. I was looking to enter this trending market after a pullback which is what I have identified. I think the pullback is over and think price will continue its downward momentum from here.
Price has broken out of my buy support trend line and seems to be pulling back for a retest.
Price also broke out of a support level which was supporting the range, I see price pulling back to that level which is now acting as resistance.